China's booming online audio and video industry tops 1 billion users

Release time：2024-05-07 18:12:11 Source：Global Gist news portal

China's internet audio and video sector is experiencing explosive growth, with the user base surging past 1 billion for the first time, according to a new report.

Released by the China Netcasting Services Association during the 11th China Internet Audio and Video Convention in Chengdu, the report reveals that as of December 2023, internet audio and video users reached a record 1.07 billion, accounting for a staggering 98.3 percent of all internet users in China.

This dominant position is further solidified by the widening gap between internet audio and video and the second-ranked application category, instant messaging. The user base disparity grew from 1.84 million in 2022 to 14.1 million in 2023.

The report also highlights the industry's economic significance. The market size of China's online audio and video industry, encompassing long-form video, short video, live streaming, and audio, surpassed 1 trillion yuan ($138.4 billion) for the first time in 2023, reaching over 1.15 trillion yuan. Additionally, the sector boasts over 660,000 enterprises primarily focused on online audio and video businesses.

Zhou Jie, deputy secretary-general of the China Netcasting Services Association, emphasizes the industry's dual role as an economic engine and job creator within the digital economy. By the end of 2023, the number of professional online content creators in China had skyrocketed to 15.08 million, the report reveals.

The report further explores the significant contribution of short videos and live streaming to consumption, particularly when integrated with e-commerce and cultural tourism platforms. Over 70 percent of internet audio and video users make purchases after watching short video or live streaming content, with over 40 percent considering these platforms their primary shopping channel.

"The internet audio and video industry has also played a vital role in advancing the rural revitalization strategy," said Zhou. Notably, the majority of new internet audio and video users in the past two years originated from rural areas. The report details a significant user base increase in rural areas compared to urban areas: 12.6 percent and 6.8 percent year-on-year growth in 2022 and 2023, respectively, compared to urban growth of just 2.1 percent and 1.9 percent.

Hu Zhengrong, director of the Institute of Journalism and Communication at the Chinese Academy of Social Sciences, emphasizes the importance of technological advancements for the continued development of the internet audio and video sector. He identifies artificial intelligence as the key driver for future innovation.

"Intelligent internet audio and video services will unleash new quality productive forces for the development of both China's culture and economy," Hu said.

The CIAVC, China's largest national-level event dedicated to internet audio and video, this year attracted over 2,000 companies and organizations within the industry, with nearly 10,000 participants.

The event also saw the launch of the "Seeing China" Global Broadcasting campaign, aiming to share Chinese culture with a global audience. This initiative will involve broadcasting 100 audio and video works on 100 overseas mainstream media outlets and online audio-visual platforms.

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