China’s online video market hits 76% penetration, led by Tencent Video and iQiyi

China’s online video market has reached 76% penetration

China’s online video market has reached 609 million users, led by Tencent Video and iQiyi.

The market reached 76% penetration in June buoyed by the intense competition between the big three – Tencent Video, iQiyi and Youku.

Tencent secured the highest penetration in June with 46.1%, closely followed by iQiyi which had 43.6%. Youku trailed the two big hitters with 30.3% penetration, however it was well ahead of Bilibili and Mango TV which managed 7.5% and 7.3% penetration respectively.

China’s online video market continues to experience explosive growth, with nearly 229 million Chinese people expected to watch a video via an online streaming service this year.

The Chinese short video app Tik Tok, known as Douyin in China, has continued its meteoric rise to reach 207 million monthly active users (MAU) in June, just behind market leader Kwai, which attracted 231 million MAU, according to figures from QuestMobile.

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