(Yicai Global) April 17 -- The scale of China's digital reading market rose 27 percent last year to CNY15 billion (USD2.4 billion) as Chinese are increasingly willing to pay more for e-books, a report by China Audio-visual and Digital Publishing Association shows.
China’s digital readers numbered about 400 million last year, an increase of 13.4 percent per year. Among these, more than 70 percent are young readers, and content related to family, literature and education is most favored, China Youth Daily reported yesterday.
Per capita reading has increased substantially to 10.1 e-books and 7.5 paper editions last year, and 63.8 percent of readers are now willing to pay for e-books, compared to 60.3 percent in 2016, with the average price increasing from CNY8.9 (USD1.42) to CNY13.6.
China's audio reading market reached CNY4 billion last year, an annual increase of 40 percent, which has become a new growth point in the sector, whose 4th Digital Reading Conference China convened in Hangzhou, in southeastern China's Zhejiang Province, from April 13 to 15.
China's digital reading trade has made great achievements, but problems persist, such as lengthy and homogenized works, and the lack of dedicated institutions plying intellectual property rights-related businesses, which results in high costs for IP transactions and wasted resources, the report said.
The government is expected to guide industrial associations, copyright owners, downstream companies, and independent third-party platforms to jointly establish IP trading organizations and form an efficient and orderly transaction model, the report noted.
Editor: Ben Armour