China’s online entertainment market booming amid COVID-19 pandemic

BEIJING, April 9, 2020 /PRNewswire/ — Maoyan Entertainment (“Maoyan” or “the Company”) (hong kong: 1896), a leading platform providing innovative entertainment services over the Internet in Chinapublished a report on the impact of the COVID-19 pandemic on China entertainment industry. While China The film industry has been badly hit by the pandemic, the online entertainment market, including TV and streaming platforms, was booming as people were confined to their homes, the report said.

From March 15the China theatrical releases of 44 films had been canceled or postponed, including 16 imported films, according to the report which examines the impact of the pandemic on China entertainment industry. Maoyan Zhiduoxing, an entertainment data analytics platform, released the report.

The Chinese New Year holiday is traditionally the most important movie season for China box office revenue. In 2019, the Chinese New Year holiday accounted for 14% of the total annual box office. With cinemas nationwide closing this year due to the COVID-19 pandemic, the annual box office would suffer a significant drop from last year, according to the report.

While offline entertainment business came to a halt with the pandemic, the online entertainment market, including TV and streaming platforms, was booming as people were confined to their homes, according to the report.

Television viewership has seen a huge increase in China during the pandemic. For the ten-day Chinese New Year Extended Holiday (January 24 to February 2), the public in China spent an average of 347 minutes watching TV per day, up 33% over the previous ten days (January 14 to 23), and 13% more than the same holiday period in 2019. People were more concerned about the development of the pandemic. Since January 27 to February 9the average time spent watching TV news per day rose 153% year-on-year to 135 minutes, according to the report.

The pandemic has also led to increased traffic for online streaming platforms. The total number of users increased by 17.4% to 310 million during the Chinese New Year holiday compared to a normal week (January 2 to 8), while users spent an average of 98 minutes per day on these platforms during the holidays. The most-watched shows were medical dramas, comedies, family, romance, and classic movies/TV dramas.


Total number of online streaming users
platforms (millions)

2019 Chinese New Year Holidays
(from February 4 to 10)

289

regular week 2020

(January 2 to 8)

264

Chinese New Year Holidays 2020

(January 24 to February 2)

310

Average daily time spent on online streaming platforms per user (minutes)


iQiyi

Tencent Video

mango tv

bilibili

chinese new year 2019
holidays (from February 4 to 10)

61

54

62

100

Chinese New Year 2020
holidays (January 24 to
February 2)

74

68

88

111

With the growing popularity of online streaming platforms, some films have given up their theatrical releases to turn to streaming platforms. On January 24the highly anticipated comedy “Lost in Russiabecame the first Chinese film to be uploaded for free on ByteDance platforms, including TikTok, Xigua Video and Toutiao. It reached over 600 million views in the first three days. Another Chinese comedy “Enter the Fat Dragon” also switched to iQiyi and Tencent Video on February 1st, and viewers can pay for early access. The film has generated 63 million paid views on Tencent Video platform in the first three days.

A total of 26 web movies were streamed online during the Chinese New Year holiday this year, nearly half of them on the iQiyi platform. According to the report, the average daily views of these web movies jumped 100% compared to the same holiday period last year.

As an entertainment data analysis platform, Maoyan Zhiduoxing (smarter.maoyan.com) provides users with data spanning all entertainment categories, including movies, TV series, variety shows, novels, artist events, and online entertainment events. The platform’s multidimensional data analysis capabilities encompass thousands of dimensions of data indicators.

The report is based on data from Maoyan Zhiduoxing and other sources, including Kuyun, CSM Media Research, QuestMobile, Enlightent, MobTech, and the National Radio and Television Administration.

About Maoyan Entertainment

Maoyan Entertainment (hong kong: 1896) is a leading platform providing innovative entertainment services over the Internet in China. Since its inception, Maoyan has grown from an online movie ticketing service provider to an innovative one-stop platform for entertainment services. Maoyan has a comprehensive strategy to become a leading platform serving the entire entertainment industry by China. The updated strategy is supported by five key platform pillars: online ticketing platform, product and service platform, data platform, marketing platform and funding platform.

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