The number of short video users in China has reached 818 million, accounting for 87% of the country’s total internet users. An average of 110 minutes is spent on short video platforms per day.
According to a recent report from the China Netcasting Services Association, short videos accounted for the highest share of the market in the online audio-visual industry in 2019, reaching 130.24 billion RMB, an increase of 178.8% from the same period the year before.
As of June 2020, the number of Chinese netizens had expanded to 940 million. Short-video platforms, such as Douyin, Kuaishou and Bilibili, have seen a further increase in popularity this year as COVID-19 forced people to stay at home and seek new forms of entertainment. Short videos are becoming more and more popular among netizens as a way to obtain information, as well as for entertainment purposes.
In August, ByteDance reached the 600 million daily active users milestone.
Read moreabout short-form video platforms:
- ByteDance – who is the tech giant behind the TikTok phenomenon?
- ByteDance in early stage talks about IPO of Douyin (Chinese TikTok)
- Kuaishou works with UN to help alleviate poverty & hunger in China
- Kuaishou aims to raise up to $5 billion in Hong Kong IPO
