As of June 2019, China’s had 850 million internet users with a penetration rate of 61.2%, according to government-backed research institute MIC (Market Intelligence & Consulting Institute).
“In the first half of 2019, 760 million short video consumers appeared, accounting for 88.8% of all Internet users – over 6.1 times the number of online music consumers, and even breaking past the 490 million online gamers” said Chiau-Ling Tzeng, senior industry analyst at MIC.
Chiau-Ling Tzeng said: "As of the first half of 2019, 80.2% of users on the three major platforms (iQiyi, Tencent, and Youku) watch OTT content. Bilibili, Sohu Video, and Mango TV are also in hot pursuit of these three.”
“All of these platforms are making big investments on exclusive content, and even producing their own variety shows and investing in films. As more platforms enter this space, the market is becoming more mature, and content production is becoming more professional and vertically differentiated. Content quality has become the key to competitiveness."
