Chinese Short Vedios Development In 2021
Compared with traditional pictures and texts, short videos are not only light-weight, but also informative, expressive, and intuitive. People use fragmented time to browse short videos, and use barrage, comments, and sharing for social interaction, giving short videos the potential for virality and greatly increasing the influence of short videos.
In recent years, my country's short video industry has developed rapidly. Up to now, my country's short video industry has gone through four stages, namely, the accumulating period, the transition period, the outbreak period and the stable period. Currently in a stable period, the competitive landscape is gradually stabilized, and short video platforms are exploring more diversified and deeper business realization models.
1. The status quo of short video
Short videos eat up a large amount of fragmented time of users, have stronger time stickiness, younger user groups, and better monetization methods.
2. There are many participants in the industry chain of China's short video industry
The short video industry industry chain in my country has gradually formed, and there are many participants in the industry chain, including content producers, content distributors, user terminals, basic supporters (such as technical service providers, data monitors, etc.), advertisers, and regulatory authorities. Content producers are mainly divided into three categories: PGC (professional production content), PUGC (net celebrity/star production content) and UGC (user production content); content distributors include short video platforms, news information platforms, social platforms, and traditional videos Platform etc.
3.Chinese short video companies are gradually going overseas
In the past three years, as the domestic short video market has become increasingly fierce, going overseas has become a popular choice for short video companies seeking high efficiency. Kuaishou and Bytedance are typical representatives. Domestic short video players have taken into account geographic advantages, culture, market size and competition in overseas markets. In the expansion path of overseas markets, almost all players have chosen the development path starting from emerging markets such as East Asia, Southeast Asia, and South Asia.
4. TikTok has made great achievements in the sea
In its second year of going overseas, TikTok has already surpassed 100 million downloads in a single quarter. In the first quarter of 2020, TikTok downloads reached 315 million times, surpassing the two major mobile applications in North America, Facebook and Instagram, and topped the list. TikTok's download volume is even twice as much as Instagram's download volume. As of November 2021, tiktok has been downloaded 3 billion times worldwide.
5.The vertical development of China's short video content
So far, short videos in our country have spread from platforms to various fields, and fields such as beauty, funny, food, and games have gradually matured. On the other hand, short videos have gradually become an important marketing channel for major advertisers. Advertisers love to advertise on short video KOLs such as storytelling/funny, young lady, beauty makeup, etc.
6.The market size in 2025 is expected to be close to 600 billion yuan
In the future, the short video platform will further seek new breakthroughs, such as joining live broadcast, e-commerce and other services. At present, the head short video platform is already developing online live broadcast services, and is seeking to deepen relationships with other content creators and develop new ones at the same time. The function deepens the interaction between creators and users, and further increases users’ reliance on short video content.
In addition, as short videos attract larger user groups and longer users spend time, advertisers will also further shift traditional online advertising marketing to short video platforms, and the advertising and marketing revenue of the short video industry will further expand in the future.
It is predicted that due to the outbreak of the epidemic, the development potential of short video will be further tapped. The market size of the short video industry will grow at a faster growth rate from 2020 to 2022, with a compound annual growth rate of about 44%; the market size will increase from 2023 to 2025. The speed will slow down, but it will still grow at a compound annual growth rate of 16%. The market size of China’s short video industry is expected to approach 600 billion yuan in 2025.