In China, a $5 billion market focused on personal live streaming is creating fast-growing revenues in a new industry. Live streaming platforms are expected to make twice as much money in 2016 than in 2015. Live streaming could overtake the country's movie box office in size.
Business Insider reports that, according to a report from Credit Suisse, the millennial generation spends a lot of time - more than three hours a day - online on their smartphone. Many young Chinese like to live stream their experiences. Popular live streaming hosts broadcast their lives, generating advertising and marketing revenue for themselves and the platform they use to reach their audience.
The Credit Suisse report expects the total market size of entertainment live streaming industry to be around $5 billion in 2017, with China's total movie box office size at $7 billion.
According to Credit Suisse, a successful live streaming host requires good looks. The researchers state that only 17% of the hosts last longer than two years. About 70% of hosts make less than half of their monthly income from working as hosts.
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