China's broadcasting, film industry revenues continue to rise

BEIJING - The total revenue of China's radio, film and television industries increased 13.16 percent to 422.63 billion yuan (about $69.1 billion) in 2014, according to an official report released on Wednesday.

In 2014, the revenue of the online streaming industry reached 37.84 billion yuan, up 48.8 percent year on year, and 604 domestic entities provide online television programs, said an annual report issued by the State General Administration of Press, Publication, Radio, Film and Television.

As China promotes its "Internet Plus" strategy, first presented by Premier Li Keqiang in March this year, the industry has explored diversified business models through new media, including online streaming of television programs.

Box office revenues hit 29.64 billion yuan last year, up 36.15 percent from the previous year. Domestic film productions grabbed 16.16 billion yuan, 54.51 percent of the total market share.

The report said that private enterprises accounted for 85 percent of the total radio, TV and film production companies.