Data that has been gathered by iResearch is pointing towards the online video marketing being one of the best used means of advertising in China. In fact, for 2014 the online video market for China had a value of RMB23.97 or US$3.88 billion.
This is a huge increase (76.4%) from 2013
This is also one of the largest increases that China has saw in the transaction value from online video since 2011, as can be seen below:
It seems most Chinese consumers are looking at online videos for advertisement reasons. This shows that businesses who have yet to tap into this digital marketing method are losing out on a huge potential for extending their consumer base.
When compared to other countries, China is considered to be in the top 5 countries for the number of video users they have, bypassing the United Kingdom, the United States, Japan and France.
For companies who are considering using online videos as a way to advertise, it is helpful to know just which online video services are most frequented by those in China. The chart below shows the top 10 choices:
More people are choosing to watch online videos, making television obsolete. Thus, commercials that companies would once use on television to advertise their products is becoming a trend of the past. Instead, companies are choosing to market their products through small slots via these online video platforms. In the end, this means more consumers seeing the companies product and remembering the brand.
The online video market is only going to increase as the year progresses. With many professionals believing that the use of online video for advertising is going to increase exponentially in the coming years. It is a platform in which businesses must embrace if they want to stay ahead in the digital marketing environment within China.