China's livestreaming industry has been growing over the past few months, with social networking platform Momo boasting over 425 million streamers nationwide as of mid-2018. However, challenges are on the way for these "non-celeb" streamers.
According to CNBC, among the regions with the highest number of streamers is Dongbei, as Momo data revealed. The region sported streamers who knew how to respond to questions on the spot, which viewers appreciated.
Virtual gifts were the main source of income for streamers in China, who have dreams of becoming famous and making a name in the digital entertainment industry. Good talkers had a great chance to get virtual gifts equivalent to millions.
Kuaishou, another popular social networking platform and short video app in China has also been growing its userbase over the past several years. The company is expected to have its IPO in the United States sometime next year. Valuation is reportedly eyed at $25 billion or more.
As of July 2019, Kuaishou is said to have over 400 million monthly users, while there are around 200 daily active users. At that time, the company's senior vice-president, Ma Hongbin, told China Daily that in 2018, over 16 million content creators earned more than 20 billion yuan.
As for profiters, over 60,000 content providers on the platform earn virtual gifts daily that can be converted into money. Most users are from third and fourth-tier Chinese cities, Ma revealed.
Despite the ongoing boom of livestreaming in the country, there are still challenges that non-celebrity streamers and content creators have to overcome as they glide through the sector.
Among these is the apparent dominance of heavyweights who already have established names in the entertainment industry. Kelvin Zhao, who worked with one of China's top content creators, noted that if you want to be a powerhouse in the industry, "the investment you need to make is much higher" than it was years ago.
Some industry experts noted that it appears livestreaming will not live on forever. Most streamers or content creators, who are also called key opinion leaders (KOLs) in China, are searching for backups to keep their fanbase interested.
On the other hand, some segments have been fighting it well in China's massive market by engaging in livestreaming. Industry analysts suggested that tuning in to the country's growing livestreaming market could help grab the attention of Chinese consumers.
Working with KOLs will also help make profits since most Chinese consumers trust what their favorite KOL has to say, whether it be about a book, a make-up brand, a sports brand, or just about any product in the international market.
It remains to be seen how long the Chinese livestreaming market will last, but some hopefuls remain tied to the idea of fame, fortune, and a potential shot at the big stage through digital content.
