The China Netcasting Services Association (CSNA), a national industry organization, released a new report on the country’s digital audiovisual industry, with numbers highlighting the size of the Chinese digital video market.
As of December 2018, the number of online video users in China reached 725 million, accounting for 87.5% of the total number of netizens. Among this, 648 million people watched short-form videos, 397 million tuned into live video and audio broadcasts, and there were 301 million digital audio users.
Short video consumption accounted for 11.4% of the total time spent on the internet, making this the second largest app category for time spent after instant messaging. And, in the second half of 2018, China added 51.95 million short video users, up 8.3% year-on-year.
CSNA also pegged the size of China’s digital video industry last year to RMB 187.13 billion (USD 27.1 billion), up 52.8% year-on-year. This was driven by explosive growth in short video revenue, which rose 744.7%, from RMB 5.53 billion in 2017 to RMB 46.71 billion (USD 6.77 billion).