Chinese live-streaming firms seek to tap US$2.2 billion market

China’s online live-streaming firms are becoming more professional and diversified, offering features such as VR (virtual reality) support and specialized business-to-business functions as they try to better target a market worth 15 billion yuan (US$2.17 billion) , Shanghai Daily learned today.

Vhall, which raised 200 million yuan in its latest round of financing, offers business clients unified and secure live-streaming services covering meetings, activities and training.

“Unified and reliable online live-streaming services still have great potential in China, especially to 20 million small and medium sized firms,” said Lin Yanting, chief executive of Vhall.

Vhall charges an annual flat fee of 6,000 yuan, one-tenth of the regular market price, for its services  covering live-streaming system, data traffic and related software. The services are used in finance, healthcare and education industries.

iQiyi, one of China's major online video platforms, offers VR devices, technologies and subsidies to help live-streamer produce professional and diversified VR contents. 

In 2020, China’s online live-streaming industry revenue will rise to 60 billion yuan from 15 billion yuan last year, analysts said.