China's Digital Music Industry Continues to Grow: Livestreaming and Short Videos are Key Drivers

Tech 2024-09-15 14:13:02 Source: Network

China's Digital Music Industry Continues to Grow: Livestreaming and Short Videos are Key DriversThe "China Digital Music Industry Report (2023)" released at the 2024 China Digital Music Industry Conference revealed that China's digital music market reached a total size of approximately 190.75 billion yuan in 2023, representing a year-on-year growth of 22

China's Digital Music Industry Continues to Grow: Livestreaming and Short Videos are Key Drivers

The "China Digital Music Industry Report (2023)" released at the 2024 China Digital Music Industry Conference revealed that China's digital music market reached a total size of approximately 190.75 billion yuan in 2023, representing a year-on-year growth of 22.7%. The rapid growth of music livestreaming and music short video services has been the main driving force behind the industry's development.

The report indicates that China's music short video market achieved a size of about 48.91 billion yuan in 2023, marking a 19.2% increase from the previous year. Simultaneously, the music livestreaming market reached 107.22 billion yuan, indicating a 31.4% year-on-year growth and demonstrating a persistent upward trend.

Beyond the expansion of market size, the user base of digital music has also exhibited positive changes. As of 2023, the number of digital music users in China has reached approximately 900 million, accounting for 82.4% of the overall netizen population. Among active users, males represent 53.6%, while females account for 46.4%. Notably, the proportion of active users belonging to Gen Z (born between 2000 and 2009) and Gen Alpha (born after 2010) continues to rise, signifying the significant influence of digital music among younger demographics.

Ao Ran, Executive Vice President and Secretary-General of the China Audio-visual and Digital Publishing Association, stated that digital music has become a vital engine for cultural prosperity and innovation. Its cultural penetrability and media convergence have profoundly transformed the ecosystem of the music industry. He emphasized the need for digital music to prioritize the creation and dissemination of high-quality content, using exceptional works to resonate with audiences and spread positive energy. Moreover, he highlighted the importance of exploring content in areas like social interaction, engagement, and scenario-based experiences, making music more relatable and resonant with people's lives.

To delve into the dissemination strategies of digital music, the role of artificial intelligence and copyright development regulations, as well as the creation of a conducive competitive environment for digital music, the 2024 China Digital Music Industry Conference has established three sub-forums. These forums will focus on "Digital Music Dissemination and Influence," "Artificial Intelligence Empowers Digital Music Industry Innovation and Development," and "Sound Competition and Sustainable Development in the Digital Music Copyright Market."

The Rise of Music Livestreaming and Short Videos

The rapid growth of music livestreaming and short video services can be attributed to several factors:

Shifting User Needs: With the widespread adoption of mobile internet and the emergence of short video platforms, user habits regarding music consumption have changed. Users prefer fragmented music experiences and music formats that offer greater interactivity and entertainment value.

Rapid Platform Development: In recent years, platforms like Douyin, Kuaishou, and Tencent Music have continuously refined their music livestreaming and short video features, investing significant resources in content creation and user guidance. This provides a favorable platform environment for the swift growth of music livestreaming and short videos.

Technological Advancements: The application of artificial intelligence, big data, and other technologies has opened up new possibilities for the creation, dissemination, and promotion of music content. For example, AI can assist musicians in songwriting and arrangement, while big data enables platforms to recommend songs accurately, enhancing user experiences.

Challenges Facing the Development of the Digital Music Industry

China

Despite the positive momentum of the digital music industry, it faces certain challenges:

Copyright Protection Issues: Protecting music copyrights has always been a critical issue for the development of the digital music industry. Piracy and infringement severely harm the interests of musicians and hinder the healthy development of the industry.

Intense Competition in the Copyright Market: Competition in the digital music copyright market is intense. Platforms engage in fierce competition for copyright resources, leading to rising copyright fees and putting pressure on musicians.

Exploration of Profitable Models: Currently, digital music platforms primarily rely on advertising, paid memberships, and copyright licensing for revenue generation. However, the profitability of these models is limited, necessitating the exploration of new revenue models.

Future Development Trends

In the future, the digital music industry is expected to continue developing in several directions:

Personalized Recommendations: Leveraging artificial intelligence and big data technologies to provide personalized music recommendations for users, enhancing their experiences.

Immersive Experiences: Utilizing AR/VR technologies to create immersive music experiences for users, such as VR concerts and AR music games.

Music Socialization: Encouraging users to engage in interactive communication on music platforms, establishing music communities, and increasing user stickiness.

Integration of the Music Industry Chain: Integrating digital music with other industries, such as collaboration with gaming, film, and e-commerce industries, to expand the boundaries of the music industry.

In conclusion, China's digital music industry holds vast potential for future growth, but it also faces numerous challenges. To achieve sustained development, the digital music industry needs to continuously innovate and proactively address these challenges.

China

Summary

In 2023, China's digital music market witnessed continued growth, with music livestreaming and short video services emerging as primary drivers. The digital music user base also exhibited positive changes, with the proportion of active users from Gen Z and Gen Alpha continuing to increase. In the future, the digital music industry is poised to continue its development toward personalized recommendations, immersive experiences, music socialization, and integration of the music industry chain.

Keywords: Digital music, industry report, market size, music livestreaming, music short video, user size, development trends, challenges, opportunities.

Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])

Mobile advertising space rental

Tag: China Digital Music Industry Continues to Grow Livestreaming and