STREAMING
China plans to impose new restrictions on streaming services as part of a campaign to increase control over the activities of tech companies and increase influence over content consumed by the country's youth. This was reported by The Wall Street Journal, citing informed sources.
Chinese authorities are drafting new rules to limit internet users' daily spending on digital streamer rewards, people familiar with the matter said. Authorities also plan to set a daily cap on how much streamers can receive from fans and are considering introducing stricter content censorship.
The number of mobile Internet users in China is rapidly increasing and the demand for new content is growing accordingly. The China Performing Arts Association estimated that the country's streaming market was worth about $30 billion in 2020.
According to the China Internet Clearinghouse, China's live streaming services, including ByteDance, Kuaishou Technology, and Huya, are used by approximately 70% of the country's Internet users. Last year, the services drew an audience of 700 million people.
Many online influencers earn commissions for the products they promote, but for many, fan donations and virtual gifts are their main source of income, ranging from the equivalent of 15 cents for a virtual beer to over $1,100 for a virtual ship. Chinese authorities want to limit the amount of gifts to streamers to 10,000 yuan ($1,570), according to sources.
In 2020, the National Radio and Television Administration of China required streamers and their fans who give them gifts to register with their real names. At the same time, a ban was introduced for under 18s to transfer money to streamers and buy gifts.
The new restrictions could seriously harm Chinese social media companies, which derive most of their revenue from streaming. For example, Huya, which has a platform similar to Amazon's Twitch, had more than 80% of its total revenue last year, or about $1.8 billion, from live streaming.
mundophone
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