According to the report of market information service company IHS Markit, China has become the world's second largest TV program consumer. In 2017, the related expenditure reached 10.9 billion US dollars, second only to the United States.
According to the report, China ranks second, surpassing spending of $10 billion in the UK. However, the United States is still far ahead, reaching $58.3 billion. China's data includes broadcasts, television stations, and online companies such as Baidu, Alibaba and Tencent. Service.
It is worth noting that China's online platform invested $4.5 billion in programming in 2017. IHS Markit expects this number to continue to rise in 2018, surpassing the $6.4 billion of TV stations.
Similar to Netflix, Amazon and Hulu in the US, original programs are also important for Chinese streaming platforms. In 2017, such content accounted for 49% of all programs in China. IHS Markit pointed out that creating exclusive content can attract users to register and bring Other business opportunities. 'Broadcasters and online platform companies are increasingly making their own content, not only to attract paying users, but also to merchandise sales, mobile game development and other revenue sources.'
But unlike Netflix, Chinese companies rely more on advertising and sponsorship. The report states: 'If content costs continue to rise, then such aggressive investments will not be sustainable.'
In 2017, the program purchased accounted for 46% of Chinese TV, and sports programs accounted for 5%. As Chinese consumers hope to get more sports content, this proportion will rise. During this year's World Cup, related advertising expenditures have risen.
According to the Pew Research Center report, streaming services have become the main way for young Americans to watch TV. Of the 18 to 29 year olds, 61% said they are using streaming services.