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VIRAL EXCLUSIVE
Aug. 7, 2023
Streaming in Greater China
China’s streaming platforms are reaching unprecedented heights, actively expanding into the global stage while pushing the dissemination of Chinese stories into regions beyond. By: Toh Yan Yun
The Chinese internet system has reached remarkable heights. As of 2022, the country boasts over 1 billion users and a staggering 76.5% internet penetration rate. The flourishing Chinese streaming platforms are thus capitalising on this extensive user base, generating substantial revenue and catering to the preferences of Chinese consumers.
iQIYI: China’s Leading Platform
Logging over 538 million monthly active users and 107 million subscribers in 2022, iQIYI has emerged as China’s leading streaming platform. Going beyond TV series and movies, the service provides more than 30 types of content, including cartoons, sports, news, and gaming. Employing sophisticated tools such as Artificial intelligence and big data analytics, the platform places much focus on Research and Development, with expenses reaching 466 million RMB in 2022.
According to the company’s ‘2022 Year in Binge’ survey, iQIYI was elected as the top Asian OTT to watch Chinese-language, Thai, and Malay dramas across seven territories – Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and the US. In June, the platform attained a total of 13 recognitions from its content and affiliated creators at the Magnolia Awards of the 28th Shanghai Television Festival. A Lifelong Journey received 10 nominations such as Best TV Series (China) while numerous other dramas such as Left Right and Our Times were also awarded accolades such as Grand Prix.
Youku: “Chinese YouTube”
Acquired by Alibaba in 2016, Youku records over 247 million monthly active users as of March 2022. The platform offers a wide variety of content including videos, movies, documentaries, and sports events. To increase the reach of its content globally, the company has been focusing on producing higher-quality original dramas. Its slew of new releases since 2017 such as The Advisors Alliance, Rakshasa Street, and Oh My General have each gone on to amass billions of views. Additionally, the streaming service has consistently inked distribution deals with Netflix. Most recently, the US streaming giant procured the rights to Youku’s romantic comedy I Can Hear You. The drama was streamed by Netflix in 190 countries and regions.
Tencent Video: Diverse Content Offerings
With 540 million monthly active users and 106 million paid subscribers, Tencent Video houses an impressive content library that includes genres ranging from reality shows to IP-based programming from Tencent’s literature and ACQ (anime, comics, and games) activities. Gen-Zs and Millennial women living in low-tier cities account for more than half of Tencent’s users. To target this demographic, the company has pushed out a brand-new streaming platform, Pianduoduo, that offers users free movies and TV series without any advertising. Additionally, users will earn “gold coins” convertible into RMB for time spent watching video content on Pinduoduo.
The platform’s emphasis on producing compelling original content has been recognised at the 27th Hong Kong International Film and TV Market, where it unveiled a first-rate line-up of dramas and animated works. Some of its highly-anticipated dramas includes Where Dreams Land, Good Things Come in Pairs, and West Out of Yumen, adapted from popular novel Half Demon Sto. The company’s efforts to expand its footprint in the global market has been reflected in its export of over 100 TV dramas, variety shows, documentaries, and animations to more than 200 countries and regions since 2017.
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