China's short video platform Xigua to invest RMB 4 billion to enter long video field with variety show making
摘要： Short video platform decides to expand business to the upper stream of content industry.
Chinese short video platform Xigua announced entering variety show production industry on August 2. The platform will invest RMB 4 billion to create mobile original variety show IP in the coming year.
Xigua is a personalized recommendation video app of Bytedance with over 300 million users. It has more than 4 billion average daily video views and over 70 minutes of daily per capita use.
This is the first time that Xigua enters the content creating area. Having achieved the leading position in content distribution, Xigua finally expands its business to the upper stream of content industry – professional content production and IP creation.
Zhang Nan, president of Xigua.com, said that the company decided to produce variety shows in the need of users. The users have a strong demand for variety content and will look for the complete long videos after watching the short video clips. "Based on these demands, we plan to try to produce more mobile variety shows," said Zhang.
Zhang Nan, President of Xigua
According to Zhang, mobile has become the main device of variety show consumption, but the current variety shows are still mostly TV shows. Data shows that Youku's self-produced Street Dance of China has got 270 million views through Xigua. As it is widely accepted in the market that the short video clips make users look for and watch the original long videos more, many variety shows, films and TV series have made short video clilps an important method for promotion.
Zhang added "The variety shows in the mobile era should be more 'original' and 'smart', and take more account of the consumption scenario of mobile devices, which is also the main exploration direction of Xigua's involvement in variety show production."
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