National Copyright Administration: China’s internet copyright industry grows by 27% in 2017
According to China Daily, the National Copyright Administration of China released a report which states that China's internet copyright industry grew by over 27% in 2017 and reached over 636 billion yuan, or about US$100 billion.
The report was released on 23 April by the Internet Copyright Industry Research Center, ahead of the World Intellectual Property Day this Thursday.
"The vitality of the internet copyright industry and its importance to the national economy have experienced rapid and steady growth," said Mr Zhang Qinkun, Secretary-General of the Internet Copyright Industry Research Center. The Center was set up in 2016 by the National Copyright Administration in cooperation with technology giant Tencent.
According to the report, the internet copyright industry in China was worth 636.5 billion yuan in 2017, a 27% increase from 2016, as new industrial forms emerge. The report also highlighted that nearly half the value is contributed by users’ paid services.
China's internet copyright industry developed in diverse fields in 2017, such as short videos and livestreaming, but the major contributions are still from online news portals and online games, which accounted for 73% of the total value.
The online news and information market increased more than 40% to 30.5 billion yuan, while the online gaming market grew by 32% and reached 235.5 billion yuan.
At the same time, the online music market grew by 22% year on year to 17.5 billion yuan.
The report also stated that in the past two years, livestreaming and short videos have experienced most rapid growth - the live streaming market totalled nearly 40 billion yuan as the number of live streaming users reached 422 million.
The market for pay-per-view videos reached 21.8 billion yuan in 2017 and is expected to maintain a 60% increase in the next two years.
In term of virtual reality (VR) and augmented reality (AR), Mr Zhang said the limited development of the facilities have restrained the development of VR and AR.
According to Mr Zhang, these report findings show that “China's internet copyright industry has said farewell to the old formula that only values traffic and embraces a new era that values content”.
Commenting on industry prospects, Mr Zhang said "the focus needs to be on improving the quality of the content to attract users”.
He also noted that the industry is in urgent need of innovating its business model and developing a paid-users market - all dependent on the protection of valuable content and the order of healthy competition.