Report: 2018 saw a massive boost in China’s short video market
According to a report released on Monday, China’s short video market saw explosive growth of 744.7 percent year-on-year to 46.7 billion yuan ($6.8 billion) in 2018. Entertainment and social interaction are the main functions of short videos, with quality content driving market development, said Zhou Jie from China Netcasting Services Association. The report also recorded that total short video users in China stood at 648 million last year, constituting 78.2% of the country’s overall online population. Head of the internet development research department of China Internet Network Information Center, Wang Changqing said, 5G technology will bring a historic opportunity for industry development. This is a good opportunity for brands and influencers to leverage optimal reach and engagement with their target audiences.