LayarHijau.com—The newly released 2024 Tencent Entertainment White Paper provides an in-depth review of the trends and transformations in China's entertainment sector over the past year. This year has been marked by a dynamic mix of challenges and progress.
The comprehensive report consists of five key sections: film, television dramas, variety shows, music, and celebrities. The report was launched at the Beijing Music Industrial Park last Wednesday, coinciding with the Tencent Entertainment Annual Gala 2024.
According to the report, as of November 20, the total box office revenue for the film sector reached 39.54 billion yuan (approximately $5.42 billion), representing a 28 percent decrease compared to the previous year. The comedy film "YOLO" emerged as the highest-grossing film of the year in China, earning 3.45 billion yuan. However, micro-dramas have emerged as a 'dark horse,' with a market size of 50.44 billion yuan, up 34.9 percent year-on-year, surpassing the box office earnings of the film industry.
The television drama industry is shifting its focus from quantity to quality production, as reported by China Daily. This year, a total of 236 dramas aired, which is 33 fewer than in 2023. Despite the decline in volume, works such as "Blossoms Shanghai" and "Joy of Life 2" have become huge hits. Popular dramas are now adopting innovative genre fusions, blending elements like crime-solving and romance. Furthermore, the growing popularity of realistic themes has created new opportunities for middle-aged performers.
The music sector has reached 729 million online users, although growth has slowed and the increase in paid users has declined, signaling a saturated market. Offline concerts remain popular, with over 3,500 performances held throughout the year. Music festivals have expanded into third-tier and smaller cities. The concept of "music plus tourism" is gaining traction in these areas, supported by local policies and sponsorships from various industries.
The variety show industry is experiencing a slow recovery, with 111 online variety shows produced, marking an 11 percent increase compared to last year, while traditional satellite TV variety shows have remained stable at 73. The most popular genres include music, competition, and travel-themed shows. Long-running programs continue to perform well, with standout examples such as "See You Again Season 4," which explores the essence of marriage.
During the annual gala, a total of 27 awards were also presented, including Best Director of the Year, Best TV Actor and Actress of the Year, Best Singer of the Year, and Best Male and Female Variety Show Performers.