Short-form videos set to boom

Source: Xinhua | 2017-06-13

THE next “explosive” opportunity in China’s Internet landscape this year is short-form video clips, due to improved network speed, users moving to mobile Internet, abundant capital and contents, companies said yesterday in Shanghai.

Investment in the short-form video industry is expected at over 10 billion yuan (US$1.5 billion) in 2018, up from 5.37 billion yuan last year, industry officials said yesterday.

Baidu, the country’s biggest online search provider, called short-form video, ranging between three and five minutes, the next “explosive” opportunity in China’s Internet landscape, thanks to the mobile Internet wave and consumer habit change.

Baidu has set up a 500 million yuan fund for short-form video, said Hu Jie, general manager of Baidu Video.

BesTV, a subsidiary of SMG, Baidu and equipment maker Huawei, said yesterday it would establish a complete eco-system for short-form video in China.

Discovery’s new video platform Tanba will customize short-form video for the Chinese audience.