As short-video apps are closer to overtaking regular online video platforms in China as the main source of entertainment for netizens, companies have come out with a plethora of offerings to appeal to different tastes.
Short-video platforms have garnered, as of June 2019, 821 million monthly active users (MAU), representing an impressive year-on-year (YoY) growth of 32%, while online video platforms as Tencent Video, iQiyi, and Youku, while still having more users, at 964 million MAU, only grew 2.4% from the last year.
Due to the shutdown of cinemas during the coronavirus outbreak, short-video apps have been even used to launch motion picture premieres. In just three days, 180 million users watched the blockbuster Lost In Russia over 600 million times, which made its debut on ByteDance’s Xigua video platform during the Chinese New Year holiday, KrASIA reported.
Short-video apps’ growth has seen both established giants and startups compete for market share. ByteDance has emerged as a leading developer, with TikTok, the international version of short-video app Douyin, becoming the most downloaded app worldwide in January, after being the second most downloaded app of 2019, only behind WhatsApp.
Challenging ByteDance’s top place are apps like Kuaishou and Tencent’s Weishi, which actually were launched earlier than Douyin, but have struggled to capture as many users as ByteDance’s platforms.
To offer you a full picture of this industry, KrASIA has put together a list of the top nine Chinese short-video platforms, while in this video, you can check out the top-five players in the competitive short-video field.
To watch other videos by KrASIA, please visit our YouTube channel.
To check our full 2020 report on the top Chinese short-video apps, click here.