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China’s live-streaming industry heats up as millions of would-be hosts vie to break into the field
China’s live-streaming industry heats up as millions of would-be hosts vie to break into the field
Last year, 71.2 per cent of users surveyed by the CNSA said that they made online purchases based on viewing short videos and live streams, compared to only 42.7 per cent in 2022, the report said.
The CNSA said the same 2023 survey also found that more than 40 per cent of internet users considered short videos and live streams as their “primary consumption channel”.
There are now more than 660,800 companies on the mainland that run online video services as their primary business, according to the CNSA report.
Sales from live-streaming e-commerce jumped 58.9 per cent in the first 10 months of 2023 over the same period in 2022, reaching 2.2 trillion yuan (US$304 billion) and accounting for 18.1 per cent of all online shopping in China, according to data from the Ministry of Commerce.
Still, the number of online video service users in China’s rural areas has been growing at a faster pace than those based in cities, according to the CNSA. It said 98 per cent of rural internet users subscribed to online video services at the end of December last year.
In 2022 and 2023, rural users of such platforms rose 12.6 per cent and 6.8 per cent, respectively. By contrast, users in cities grew just 2.1 per cent and 1.9 per cent, respectively, in the same two-year period.
Annual earnings of top China influencers exceed net worth of some Hollywood A-listers
Annual earnings of top China influencers exceed net worth of some Hollywood A-listers
The popularity of short-video and live-streaming retail campaigns has also made the sector a target of increased state scrutiny.
Instances of misconduct in live streaming, from fraudulent advertising to misleading pricing, should be addressed and punished for the sake of the sector’s healthy and sustained growth, the People’s Daily article said.