The report showed that the compound annual growth rate for China's M&E industry between 2010 and 2015 is estimated to be 17 percent, which is significantly higher than the overall forecasted economic growth of the country.
However, tough competition comes along with the rapid growth of digital media. As such, content providers need to differentiate their content and distributors need to focus on acquiring customers and then finding new ways to monetize them.
"Companies cannot underestimate the importance of culture in China because an understanding of the cultural nuances across geography, age and income level is essential to win the loyalty of Chinese customers," said Chan.
Advertisers are particularly eager to reach these digital adopters. By 2015, online advertising could comprise nearly one-third of the advertising market.
The 50 most valuable Chinese brands are the most progressive in terms of placing advertisements on all kinds of digital screens including mobile phones, personal computers and tablets, according to Millward Brown, a leading global research agency specializing in advertising, marketing communications, media and brand quality.
For content companies in the M&E industry, a digital strategy offers new monetization opportunities to penetrate the Chinese market.
About 76 percent of the top 50 brands used five or more media outlets for advertisement placements in 2011, up about 8 percent year-on-year.
"The first pioneers know multi-screens, like crabs, are tasty after the first bite. But the thing is, the number of crabs is limited," said Sean Shen, general manager of Mindshare, a global media and marketing services company.
Girl wearing "military uniform" parade on the street to publicize the new traffic regulation
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