China's short video user number surpasses 1 bil

According to the recently released "China Internet Audio & Video Report 2023 (hereinafter referred to as "the Report")," as of December 2022, the Chinese user number of online audio-video content has reached 1.04 billion, making it the largest internet application. The overall market size of the online audiovisual industry exceeds 700 billion yuan. 

The short video has become the main driving force behind the development of the online audiovisual industry. Currently, the user base of short video apps has reached 1.012 billion, becoming the primary application that attracts internet users.

According to Li Jun, the general manager of Migu Chengdu (a subsidiary of China Mobile), the innovative formats and diverse content of video content keep attracting a large number of users. Online videos not only enhance user interactivity and engagement but also stimulates users' creativity and desire for self-expression. 

Additionally, the deep integration of short video platforms with other applications has formed a cross-platform, cross-screen, and cross-domain content distribution and communication network, which is easily accessible to users.

Besides short videos, live streaming has also become an important part of the online audiovisual industry. According to the Report, in 2022, the user number of live streaming reached 751 million, becoming the second-largest application in the online audiovisual industry, deeply penetrating various fields such as entertainment, education, and business.

Today, the online audiovisual industry conveys information and gives rise to new lifestyles and production formats. "Taking life services as an example, based on users' needs, we connect offline scenes with online scenes through short videos, live streaming, and other means. Leveraging the efficiency of online content distribution, businesses of different regions and scales can be carried out and reached more consumers," said Li Ran, General Manager of Douyin's Life Services.

With over ten years of experience in the book industry, Yu Bing has opened multiple physical bookstores in Harbin city, northeast China's Heilongjiang province. "Many physical bookstores are facing difficulties in their operations, not because the concept of bookstores is outdated, but because they didn't transform and reorganize themselves in accordance with the changing forms of knowledge dissemination. The development of the online audiovisual industry provides a new breakthrough," Yu said.

Yu runs a short video account called "Ms Yu Reviews Books," where she recommends books to readers from the perspective of a bookstore owner and shares knowledge about book publishing. Being an "online book recommender" has boosted Yu's confidence in physical bookstores. This year, she is planning to open a new bookstore.

According to the Report, in 2022, the market size of the online audiovisual industry reached 727.44 billion yuan, an increase of 4.4% compared to 2021. About 42.7% of users purchased goods in the broadcast room in the past six months, a 27 percentage point increase compared to 2020. The popularity of online audio-video catalyzed new consumption scenes and formats featured "audiovisual+," bringing substantial transformation in both social life and industrial structure.

Li Jun believes that the online audiovisual industry is moving towards diversification and refinement. It not only provides entertainment and social interaction but also encompasses various fields such as news, knowledge learning, and lifestyle services. Therefore, it strengthens the physical economy, generating more entrepreneurship and employment opportunities.

Source: People's Daily; trans-editing by Guo Yao