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An Analysis on the Influences of COVID-19 Epidemic on China’s Pan-Entertainment Industry (No. 25, 2020)
2020-03-24
By Zhou Yi, Research Department of Industrial Economy, DRC
Research Report, No. 25, 2020 (Total 5769) 2020-3-3
Abstract: The pan-entertainment industry covers a wide range of businesses, in which online and offline ones occupy similar shares in the market. Overall, the novel coronavirus (COVID-19) epidemic has driven the growth of online entertainment industry while affecting the offline entertainment businesses severely. In 2019, the total scale of China’s pan-entertainment industry stood at about 757.68 billion yuan. The industry is expected to be worth around 840.97 billion yuan in 2020 with the influences of the epidemic excluded, up by 11 percent over the previous year. Considering the influences of the epidemic, China’s pan-entertainment industry in 2020 is expected to total about 883.23 billion yuan, up by about 125.55 billion yuan with a year-on-year increase of 16.6 percent. The output of the game and video industries will increase by 92.35 billion yuan and 120 billion yuan respectively, while domestic cinemas and the film and television industry are expected to see the output drop by 32.8 billion yuan and 9 billion yuan, respectively. The total output of other offline entertainment businesses such as karaoke bars and dance halls, Internet bars and amusement parks will also decrease by 45 billion yuan. It is suggested that more efforts focus on the unemployment of employees in offline entertainment industries. Besides, relevant government departments need to provide targeted training for reemployment and help address problems including the rent, capital and labor costs of small- and medium-sized entertainment enterprises so as to assist the entertainment industry to register a sound and orderly development. Once the epidemic is gone and there are no more new infections, the above-mentioned departments need to make it possible for the booming development of the entertainment industry.
Key words: novel coronavirus pneumonia, epidemic, the pan-entertainment industry, influences, policy options
