MAUs of Youku's mobile app in China 2021-2023
China’s subscription video-on-demand (SVOD) market is getting more crowded with a handful of service providers. With iQIYI and Tencent Video leading the race, Youku has been scrambling to stay in the top three. In September 2023, its mobile app saw a 16.5 percent decrease in monthly active users to 207 million.
Reshaped by years of adaptation and changes
The early mover in Chinese video streaming has navigated a series of shifts and transformations. Known to be the pioneer of video hosting services in China since 2006, it has gone through a merger in 2012 with its close rival Tudou and the acquisition by Alibaba Group three years later. Alongside various deals with NBC Universal Studios, Sony Pictures TV, and the FIFA World Cup, Youku retains a strong preference for romance, historical, and Cantonese TV dramas. However, the once-trendsetter has been facing stiff competition with the impending equalizer Mango TV, which has beaten the industry expectations in subscription growth.
China’s evolving online video industry
Highly competitive, China’s online video market is characterized by significant investment in original productions, strategic alliances, and the integration of social and e-commerce features to attract and retain users. The focus on personalized, engaging, and interactive content, combined with sophisticated monetization strategies, has transformed how audiences consume media. With rapid technological advancements and evolving consumer preferences, the competition in China's video streaming market remains intense.
