The online video market exceeded 609 million users with a penetration rate of 76% in June 2018, primarily led by Tencent Video and iQiyi. Meanwhile, Tik Tok overtook Kwai to topped the ranking of short video apps in several aspects.
China's online video market was expected to continue its meteoric rises in the mobile internet era, with revenue totaled 121.52 billion yuan in 2017, an increase of 36.7% year-on-year.
In June 2018, the online video market had 609.06 million users with a penetration rate of 76%.
Tencent Video topped the ranking with a penetration rate of 46.1%, followed closely by iQiyi (43.6%). Notably, both Youku and Migu Video saw a rise of 5.3% and 101.5% in penetration rate, primarily driven by the obtained copyright of live streaming from World Cup 2018.
Tencent and iQiyi took the first two spots with an average of 109.7 million and 86.3 million daily active users respectively. But, both showed a decline.
The monthly active users...
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