China's Podcast Industry Struggles With Monetization
The podcast industry in China faces challenges in monetization and growth, as revealed by recent events at Xiaoyuzhou and industry-wide statistics. Despite the medium's potential, low returns and slow audience growth hinder full-time commitment from creators and platforms alike.
The average podcast creator in China spends nearly 13 hours producing a single episode, with limited financial returns. This prevents many from committing full-time and impacts content quality and audience growth. Meanwhile, platforms like Bilibili are experimenting with video podcasts, or 'vodcasts', to boost revenue and ad support. Bilibili reported 25.9 billion minutes of watch time for video podcast content in early 2024 with minimal promotion.
At Xiaoyuzhou, the departure of three key executives, including COO Chen Linfeng, content chief Ouli, and business head Xiaofu, signals a shift in strategy. Their exit followed the arrival of new Senior Vice President Wang Lei, who may have triggered the changes. The podcast industry's struggle with effective monetization is evident in the net revenue of popular podcast 'Buheshiyi', which earned approximately RMB 130,000 (about $18,000 USD) over nine months after production costs. Despite this, China's podcast advertising market is projected to reach $479.1 million in 2025, indicating potential for growth.
The podcast industry in China must address monetization challenges to attract and retain talent, and to foster growth. While video integration may boost revenue, it risks diluting the medium's core identity of depth, intimacy, and trust. As platforms like Bilibili explore new formats, the industry awaits a sustainable model that balances revenue growth with the unique strengths of podcasts.
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