Hong Kong Entertainment Market Size and Forecast by Content Type, Delivery Platform, Revenue Model, and End User: 2019-2033

Hong Kong Entertainment Market Outlook

Reviving the Stage: Hong Kong Reinvents Itself for Global Dominance

The Hong Kong entertainment market remains a pivotal force in the Asia-Pacific media landscape, driven by a blend of cultural heritage, international engagement, and a maturing digital infrastructure. According to DataCube Research, the market reached an estimated value of US$ XX.8 billion in 2024 and is expected to expand at a CAGR of 6.3% from 2025 to 2033, surpassing US$ XX.3 billion by 2033. Hong Kong’s unique positioning as a cultural bridge between East and West enables it to maintain a diversified portfolio across film, television, music, and digital streaming. The Hong Kong entertainment ecosystem has increasingly embraced hybrid content strategies, facilitating cross-border co-productions with Mainland China under frameworks such as CEPA. Landmark events like FILMART 2024, which hosted 7,500 delegates from over 50 countries, reflect the market's international appeal and continued focus on export-oriented growth.

Government Support and Infrastructure Power Content Expansion

Two key growth catalysts in the Hong Kong entertainment industry are policy liberalization and state-supported infrastructure. The CEPA arrangement has provided preferential access to China’s massive entertainment consumer base. Following the October 2024 amendment, additional liberalisation in the film and TV sectors came into effect in March 2025, allowing Hong Kong producers to deepen partnerships across Mainland markets. Infrastructure-wise, high-speed broadband penetration—at over 95% household coverage in 2024—has enabled seamless content streaming and real-time digital interaction. Simultaneously, edge computing deployments are optimizing real-time content rendering and regional distribution speeds. On the flip side, rising production costs and space constraints for large-scale filming projects present consistent challenges. Additionally, the local industry's dependence on export markets exposes it to geopolitical sensitivities, particularly regarding content censorship and market access.

Content Trade and Production Spending Shape Strategic Growth

The Hong Kong entertainment sector has capitalized on its export capabilities by positioning itself as a content hub for regional and global platforms. In 2024, the Hong Kong Pavilion at the Marché du Film in Cannes demonstrated the government’s strategic push for international exposure. Content exports are no longer limited to traditional cinema; short-form web series, variety content, and mobile-first drama formats are now mainstream exports, particularly to South Korea, Japan, and Southeast Asia. Rising disposable income in Hong Kong—averaging over US$38,000 per capita—has fueled demand for premium digital subscriptions and local cinema attendance. This shift has encouraged a notable rise in production budgets; some high-profile drama series now exceed US$1.5 million per episode, aligning with global quality benchmarks. A major driver behind this expenditure is the demand for 4K and HDR content that meets international distribution standards.

Youth-Driven Adoption and Platform-Centric Preferences

With over 88% of the population engaging in online entertainment, the digital content adoption in Hong Kong is being reshaped by youth-centric behaviors. On average, individuals spend 3.5 hours daily on streaming platforms, with mobile accounting for 70% of consumption time. Subscription preferences have leaned toward tiered and ad-supported models, led by platforms like Viu, Netflix, and Disney+. Youth aged 18–34 remain the largest consumer group, with average annual entertainment spend of US$280 per person in 2024. The end user behavior in Hong Kong demonstrates strong loyalty toward localized content formats, including Cantonese-language dramas and variety shows. Importantly, viewers are increasingly open to short-form and multi-language programming, reflective of Hong Kong’s multicultural media appetite. Streaming service Viu alone crossed 6.5 million users in Hong Kong by the end of 2024, supported by strategic content tie-ups with regional studios.

Strategic Collaborations and Global Distribution Mechanisms

The Hong Kong entertainment industry is bolstered by a hybrid model involving both local and international production houses. Notable players such as Shaw Brothers, Emperor Motion Pictures, and Media Asia maintain a strong regional footprint, while Netflix and Amazon Prime continue to expand localized content libraries through co-productions. Global distribution is facilitated through festivals and events, with key partnerships struck at international markets such as Berlin, Cannes, and Los Angeles. In 2024, Emperor Motion Pictures partnered with South Korean and Thai studios to co-produce regional thrillers targeted at OTT platforms. Strategic models have shifted from linear release strategies to direct-to-platform distribution, enabling faster revenue realization and global reach. Additionally, Hong Kong has become a filming destination for international studios—Amazon’s “Expats” (2024) and Legendary’s “Godzilla vs. Kong” (2021)—demonstrating the city’s technical readiness and international reputation.

Conclusion: Recalibrating for a Hybrid Entertainment Future

The Hong Kong entertainment market stands at the confluence of tradition and digital transformation. By leveraging cross-border agreements, technological readiness, and youth-driven digital consumption, the industry is positioned to not only preserve its legacy but also chart new growth trajectories. Amid rising regional competition, Hong Kong’s emphasis on international collaboration, content export, and digital storytelling will define its success through 2033. As government frameworks evolve and platforms invest deeper in localized content, Hong Kong is expected to remain a key creative and commercial powerhouse in the global entertainment economy.

Author: Joseph Gomes Y (Head – Media and Entertainment)

*Research Methodology: This report is based on DataCube’s proprietary 3-stage forecasting model, combining primary research, secondary data triangulation, and expert validation. [Learn more]

Hong Kong Entertainment Market Segmentation