Online video streaming in China is thriving with the user base increasing to 514 million, making extraordinary business openings.
As of 2016, the number of streaming service customers attained 514 Million, making for 72.4% of Internet population in China, according to the Development Study Report of China Online Streaming for 2016―launched by China Netcasting Services Association (CNSA).
The association was established in 2011 and launched its primary report last year. This year’s study says watching videos online has turn out to be the main form of online amusement in China, pursued by reading literature and online gaming.
It also represented 35.5% of streaming customers compensated for content in 2016, increasing 18.5% spots year-on-year. It is the top yearly increase in modern years. A large amount of the paid users are bulletin subscribers.
Deputy Secretary of the CNSA, Zhou Jie, commented that the trend proposes good profitable latent of the sector. Online video market of China was priced at 24.3 Billion Yuan ($3.5 Billion) last year, according to the data proposed by the independent Chinese Analysis of companies.
The three chief market players iQIYI, Youku, and Tencent are all proposing self-made programs as well as video-sharing services, reality shows, user generated dramas, and live streaming. Jie also mentioned that race in video patents and content creation has strengthened among the companies as China intensified rational property defense in the last decade.
Video streaming has now become a common and daily need. And increase in the number of users indicates that China will be ruling the market soon enough.###