Digital Publishing Industry in China Expected To Earn $57.74 billion in 2014Posted: February 17, 2014
Digitization process is on the upswing in China where digital publishing is being accorded far greater emphasis than any time before. The rapid emergence of internet and digital technologies has only acted as a catalyst to the digital transformation process. If the above trend is put in financial terms, the figures are astounding to say the least. For instance, the compounded annual growth rate (CAGR) from digital publishing over the period of 2002 – 2012 stands at an impressive 61.6 percent. Further, the total revenue generated by the Chinese digital publishing industry stands at an astounding $42.89 billion for 2013. The same is predicted to reach even more astounding $57.74 billion in 2014. To further add impetus to the digitization process, China has set up the first batch of what it calls as the digital publishing transformation demonstration institutions. There are 70 such institutions set up so far though more of these will come in place this year. The first digital publishing industry base – the Shanghai Zhangjiang National Digital Publishing Base was set up in 2008 followed by more such bases in Chongqing, Hangzhou, Hubei and Hunan. The country already boasts of a dozen such national digital publishing industry bases.