During the forum on Wednesday, the China Association of Performing Arts published a report on the 2024 musical market. It says that from January to October, there were 13,600 musical performances across the country, up 5.5 percent compared to the same period in 2023. Receipts reached around 1.4 billion yuan ($193.42 million), a year-over-year increase of 26.7 percent. Audience attendance increased to more than 5.8 million, up 4.6 percent.

By the end of 2024, the number of musical performances is expected to reach 17,000, with revenues surpassing 1.6 billion yuan and the number of spectators exceeding 7 million.

"Musicals play an increasingly important role as a dynamic part of the commercial performance market," says Pan Yan, vice-president and secretary-general of the China Association of Performing Arts.

"There are plenty of musicals and the audience for them continues to grow. The Chinese musical theater market holds significant potential for future growth."

An important factor driving the genre's popularity is the growing influx of high-profile international productions. From English composer and producer Andrew Lloyd Webber's The Phantom of the Opera to the popular French musical Les Miserables, beloved shows have captivated audiences to bring world-class experiences to Chinese cities.