The Zhitong Finance App learned that Hong Kong media stocks rose higher in early trading. As of press release, Emperor Cultural Industries (00491) rose 29.82% to HK$0.074; Shaw Brothers Holdings (00953) rose 10.53% to HK$0.21; Meiya Entertainment (00391) rose 4.17% to HK$0.2; and television broadcasting (00511) rose 2.42% to HK$5.07.
PricewaterhouseCoopers released a report on the 13th saying that driven by the film and B2B sector, the revenue of the Hong Kong entertainment and media industry is expected to increase 5.55% year on year to 9.76 billion US dollars this year, and revenue will reach 11 billion US dollars by 2027, and the growth rate of the two sectors is expected to be higher than that of their global counterparts. Hong Kong's box office revenue will rebound to 200 million US dollars in 2023, driven by Hollywood movie screenings and some local productions attracting the box office. Furthermore, the Hong Kong Government has promised to fund local film production through a new scheme set up by the Hong Kong Film Development Council, and expects revenue to return to pre-pandemic levels in 2025.