China’s online video market shines with expanding short video capabilities

TSMC sees strong demand for 3nm chips with orders from Apple, Intel, and AMD. Credit: 123rf

Online video services have gradually become “a key engine to activate the new quality productivity” of the digital economy, said the China Netcasting Services Association (CNSA) in a report, as the market size totaled RMB 1.15 trillion, continuing to attract growing companies and live streamers. The state-run association published an industry-focused report on Wednesday, revealing that the number of professional hosts exceeded 15 million, while short video accounts amounted to 1.55 billion at the end of December last year in China. More than 70% of users who participated in a CNSA survey said they had bought goods through short videos and livestreams, a significant increase from 42.7% in 2022. [CNSA, in Chinese]