The National Copyright Administration released the “Report on the Development of China’s Online Copyright Industry (2020)” earlier today, on 1 June. We’ve picked out some key findings about the rapidly expanding short-video industry:
- In 2020, the market size of China’s online copyright industry exceeded 1 trillion RMB for the first time
- The number of online short video users reached 873 million
- Chinese mobile users spent more than 25% of their phone time on short video apps
- Short videos have become the “third language” of mobile Internet after graphics and voice messages.
The report also highlighted how online animation became popular among Chinese young people in 2020. The number of animation users reached 297 million, an increase of 11.7% year on year.
Also, of note, the scale of China’s VR/AR market grew 154% in 2020 to become the largest VR/AR industrial financing market in the world.