IBM has been holding these Global Innovation Outlook workshops around the world, and one of the key focus areas has been Media and Content.
In particular, a recent post on the GIO blog talked about the Shanghai session and how games could be a bridge to the future. Money quote:
The Chinese people believe they have great stories to tell, and they are eager to express them to the rest of the world. But there are great challenges. The government still controls the media industry here, a fact that came up repeatedly in our discussion. One participant lamented that China has loads of creative talent, but that artists don’t feel comfortable pushing artistic boundaries for fear of censorship. And investors, both domestic and foreign, are skittish about investing in an industry that comes with so much regulatory baggage.
Also, the language barrier is high. One participant suggested that gaming could serve as a bridge, both for culture and language, and even become the platform that delivers the educational and cultural advancement the group was looking for. Another suggested that China should concern itself with applying its manufacturing prowess to the production of content (like movie production etc.) from other countries, and then worry about creating its own content later.
My not-so-unbiased opinion is that traditional businesses in mature economies tend to dismiss games and entertainment as a sideline to "real business", yet we're seeing more and more examples of how games are bleeding into business through virtual worlds, leadership development in MMOs, and other "serious game" applications. And here's a group in a rapidly growing (I don't know if you'de still call China an "emerging" economy) economy seriously considering games as a bridge for cross-cultural exports and a medium to accellerate cultural/media industry growth.
When a society like Korea can go mad over online games, when new game launches are as popular today as movie releases are (or once were), when even the most stodgy retail brands are jumping into virtual worlds, it's not hard to see how games and interactive entertainment can bring unexpected business value outside of generating entertainment revenues.