Online Video Flourishes in China
China has one of the most flourishing markets in our global economy and now, the Asian country is penetrating the online video sector. China’s population is estimated at over 1.3 billion people (about 4x as many people as The United States). That population number reveals an opportunity in various markets and online video is feeding that need.
SVOD on the Rise
According to JPMorgan Chase & Co. as quoted in eMarketer, “the number of SVOD subscribers will hit 144 million this year, accounting for more than one-quarter (26.9%) of total digital video viewers.” At a time when cable TV subscribers are dropping from 252 million this year to 248 million, it seems like subscription video-on-demand is on the rise.
While China’s video content used to include pirated materials and user-generated content, the country is now signing licensing deals with major content studios. This is the perfect time for marketers to get in front of a highly influential population. The main SVOD player in China is iQiyi with nearly 100 million subscribers. While Netflix withdrew its SVOD services from China in 2016, they have recently inked a deal with iQiyi.
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Sources
China’s Online Video Subscribers Are Closing the Gap with Cable TV. eMarketer. June 14, 2017. https://www.emarketer.com/Article/Chinas-Online-Video-Subscribers-Closing-Gap-with-Cable-TV/1016005
