Over the past two decades, new media platforms in China have evolved rapidly from PC-based Internet to mobile Internet, its content format shifting from texts and images to short videos and live streaming, and its focus has moved from single content to diversified offerings.
These transformations are deeply shaped by the policy environment; and also driven by other key factors: advances in technology, user demand and Strategic moves.
Chapter 1: Transformations in the Chinese New Media Platforms Marked by the Pandemic
The outbreak of the Covid-19 pandemic in early 2020 had a profound impact on new media indsutry, accelerating the transformation of user behavior, innovation in content formats and the upgrade of commercialization modes.
| Representations | Pre-Pandemic (2019 & earlier) | Post-Pandemic (2020 – present) | Defining Trends |
| Evolving User Behaviors and Traffic Growth | Explosive growth in the short video； Fierce competition among long-form video platforms that primarily reliant on membership subscriptions and advertising revenues; The emergence of livestream-driven e-commerce as a new monetization model |
The user base is in a surge: including more middle-aged and elderly users, as well as users from lower-tiered cities; Driven by the growing demand for online entertainment, platforms such as Tencent Video saw traffic increase by over 30%. |
The pandemic has fueled the rise of “stay-at-home economy”, accelerating the nationwide digitalization of everyday life. |
| Diversifying Content Formats and Creation Ecosystem | UGC (user generated content) remains the most encouraged form. PGC (professional generated content) platforms prioritize high-quality professional content, while livestream platform targets entertaining content. |
Publishing knowledge-based content is a rising trend, covering a wide range of domains | The content has shifted from being entertainment-focused to more pragmatic and diversified. |
| Upgrading Monetization Models | Major revenue source Short video platform: advertisement (in-feed ads, splash ads); Long video platform: membership subscription, advertisement; Livestream platform: revenue split from virtual gifting |
E-commerce has become the main monetization model, increasingly focusing on online-to-offline services. | Monetization strategies have shifted from traffic-centric approaches to more sophisticated and multi-dimensional models that incorporate advertising, e-commerce, and O2O services. |
| Restructuring Competition Landscape |
Predominant platforms Short video platforms: Douyin (Chinese Tik Tok), Kwai (Kuaishou) Long video platforms: IQIYI, Youku, Tencent |
Daily active users of Douyin, Kuaishou and Wechat Channels exceeds 500 million; Bilibili is seeking to extend their user base; Traditional media accelerate their transformation: CCTV launched the “Yangshipin” app, focusing primarily on short videos and live streaming. Hunan TV, by virtue of its program Mango TV, has become the most profitable traditional media. |
Competition is intensifying, involving more domains, e.g., content creation and distribution, social interaction and e-commerce. |
| Tightening Policies and Regulations | Tighter copyright regulation (e.g. crackdown on unauthorized film and TV adaptions) and initial standardization of the livestreaming industry. | NPPA imposed daily time limits on games for minors; AI-based recommendation algorithm is refined; More approaches are applied for anti-monopoly and data security. |
More regulatory efforts are expected to be made, ensuring the healthy and sustainable development of the industry. |
Looking back, the pandemic has accelerated the upgrade of China’s new media industry in terms of content, commercialization and supervision. Going forward, the industry is expected to become increasingly aligned with a more standardized and compliant framework and technology will be a key drive in this process.
Chapter 2: A Look into the Categories of China’s New Media Platforms: Spanning Content Creation, Social Interaction and Monetization Approaches
The representative platforms and their categories are as follows (by 2024)
| Categorization Principle | Representative Platforms |
| Content Format | 1. Short video platforms: Douyin, Kuaishou, Watermelon Video, Bilibili 2. Livestream platforms: Douyin Live, Kuaishou Live, Taobao Live, Red Live 3. Image-and-text social platforms: Rednote, Weibo, Wechat Official Account 4. Audio platforms: Himalaya FM, Lizhi FM, Qingting FM 5. News aggregators: Toutiao, Tencent News, Netease News, Baidu Baijiahao |
| Monetizing Model | 1. Advertising Revenue Model: Douyin, Weibo, Wechat Moment ads 2. E-commerce business model: Rednote, Douyin E-commerce, Kuaishou Stores 3. Knowledge-based paid content model: Dedao App, Zhihu Premium Columns, Xiaoe Tech 4. Subscription business model: Bilibili Premium, iQIYI / Tencent Video VIP |
| Interaction | 1. Strong social interaction–oriented platforms: Wechat, QQ, Soul 2. Content consumption – driven platforms with limited social interaction: Toutiao, Douyin |
| Emerging Platforms | 1. AIGC (AI generated content) platforms: ERNIE Bot, Doubao 2. Metaverse / Avatar Social Platforms: XiRang 3. Platforms targeting overseas market: Tik Tok, JOYY Inc. |
Chapter 3: An analysis of Market Revenue and Monetization Approaches in the Internet TV Industry in China
In 2020, the industry generated 45 billion CNY in revenue, primarily through advertisement and subscription.
In 2022, the revenue increased to 68 billion CNY, primarily fueled by the growing household entertainment demands during by the pandemic.
In 2023, the revenue reached 82 billion CNY. The share of advertisement declined, while the contribution of subscription and e-commerce increased.
In 2024, the revenue rose to 96 billion CNY, an approximately 16% growth, driven by multiple factors.
A few drivers have contributed to the continuous growth in the revenue.
Policy: National Radio and TV Administration strengthens oversight on OTT (over-the-top platform/over-the-Internet platform) platforms, e.g. limiting the during of splash ads.
Shift in User Behavior: families are more willing to pay on large-screen devices (surpassing 60% of the families).
Technology Upgrade: latest and refined technologies have been applied, for instance, 4k/8k resolution and AI algorithm, enhancing user experience and engagement.
| Monetization Approaches |
Share in 2020 (%) | Share in 2022 (%) | Share in 2024 (%) | Projections |
| Advertisement | 55% | 48% | 40% | Regulatory oversight continues to tighten |
| Subscription | 30% | 35% | 42% | Cross-platform subscription bundles are increasingly being adopted. |
| Paid Content (especially Transactional Video on Demand) | 8% | 10% | 9% | Films and sports broadcasts remain the cornerstone of content offerings. |
| E-commerce | 5% | 5% | 7% | Large screen commerce is on steady growth. |
| Other Approaches (e.g. IP derivatives) | 2% | 2% | 2% | Sluggish growth is expected to persist. |
Technology-enabled innovation: AI-generated interactive stories
Scenario expansion: in-car OTT and hotel IPTV system
Platform integration: Short video platforms entering into large-screen ecosystem
Regulatory pressure: more regulations imposed on subscription auto-renewal and duration of ads
Profit pressure: soaring content cost (production cost for a single episode of a most hitting series exceeding 5 million CNY)
The new media industry in China will have much to offer in 2025, which could be envisioned. Stay tuned for more developments.
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