| The world of today is a world that is saturated with videos.At the 2020 World Ultra HD(4K/8K)Industry Development Conference,the Chairman of China Mobile,Yang Jie,pointed out that users spent 25% more time on streaming media per quarter in the first and second quarters of 2020,with video streaming accounting for nearly 70% of online traffic.According to CNNIC’s data,as of December 2021,the userbase for domestic online video(including short-form video)platforms comprised 975 million users,accounting for 94.5%of the online community and second only to the userbase for instant messaging platforms.China’s online video industry kicked off at the end of 2004.In 2020,after 15 years of development,the online audiovisual industry was worth over 600 billion yuan.During the same period,the private online video sharing community—the focus of this paper—evolved.As videos progressed from audiovisual embellishments in a text and graphic heavy Web 1.0to supplementary media in Web 2.0 before finally establishing itself as an independent type of media,the community gradually developed into a media ecosystem with an end-to-end supply chain and a relatively comprehensive framework.In this paper,we explore the components and their changing relationships in different developmental phases of private online video sharing websites in relation to representative historical events.This is the first domestic study where the development of private online video sharing websites is analyzed through the lenses of media environment.The outcome of the analysis is placed alongside first-hand information acquired from in-depth interviews with key decision makers in major events throughout the history and development of the industry as well as the practical experience that the author has accumulated over the years of working in the industry to piece together a holistic picture.Based on our analysis,we divide the developmental history of private online video sharing websites into four phases: exploration,integration,rapid growth,and stable development.In our study of the external and internal media environments as well as their different ecological niches,we define China’s private online video sharing community as an “organic entity”,identify the factors that drive its development,and propose strategies to support the online audiovisual industry as well as spur the overall integrated development of media in China.The first exploratory phase occurred between 2004 and 2007.Its beginning was marked by Le TV Star’s(formerly Le TV.com)incorporation in November 2004.By 2007,all online video media entities in China had passed their exploratory stage,signaling the end of the first phase.A technologically-driven format of presenting audiovisual content had led to a new and innovative media that came in the form of online videos.As the userbase grew,different operational models were explored,and relevant policies and regulations updated or introduced,private online video sharing websites began to rise to prominence.During the subsequent period between 2008 and 2013,these websites underwent a process of integration.This could be attributed,partly,to policy—the Chinese government introduced harsh measures in 2009 to reform the online video market—and,partly,to capitalism.Baidu and Tencent had entered the market,leading to the numerous merger and acquisitions of private online video sharing entities and their listing on the stock market.Significant developments in external environmental factors—such as the capital market as well as regulatory framework—and internal environmental factors—such as revenue,changes in the size of the userbase,and the normalization of online audiovisual content as“mainstream”—took place during this phase.Rapid growth of China’s private online video sharing websites occurred between 2014 and 2018 and was driven by technological factors such as the proliferation of commercial 4G technology and online social networks.The websites began their swift metamorphosis into platforms while undergoing rapid growth as a medium in the online audiovisual ecosystem.During this period,the growth of private online video sharing websites rose to a peak that lasted five years.Internal environmental factors that marked the transformation from website to platform such as content creation,the evolution and segmentation of the userbase,and the growing popularity of subscriptionbased pricing models became the defining features of this phase.This period was also beset by challenges such as tightening governmental controls as well as commercial irregularities and misconduct.The final phase of stable development took place between 2019 and 2021.The rise of new media such as short-form videos and livestreaming heralded the post-online video era,during which userbase and advertisements—key performance indicators for the businesses—remained stagnant and oversaturated the media respectively.Platforms underwent a transformation into expansive,more interconnected ecosystems.Fierce competition had given way to relative “stability”.However,structural challenges that accompany intensive growth remained and questions—how should one respond to the new media landscape and changing rules that govern media? How should one manage the competitive and collaborative relationship between different types of media? How should one control platform content,determine platform governance,and manage commercial interests? —remained unanswered.In terms of the external environment,the interplay of factors such as technology,capital,and policy had led to the upward spiral and growth of China’s private online video sharing websites.Driven by technology and funded by capital,the developmental journey of these websites was marked by attempts to breach the regulatory boundaries set by the authorities.To address the various problems in the industry and ensure the industry’s systematic development,authorities continued to diversify,adjust,and improve policies and regulatory frameworks.In terms of the internal environment,changes to the way that content was presented,the userbase,and revenue were prevalent throughout the entire developmental process.The two distinctive characteristics that defined both form and content of videos on the websites—immediate relevance and interactivity—drove continual innovation and reinvention of form and content.Online video sharing websites had steadily evolved from typical applications provided by emerging Internet businesses into colossal monopolies with distinctive features that marked them as platforms before finally settling as an ecological community in an extensive,interconnected ecosystem.Behind this developmental journey lay several issues that require examination.A discussion of the various phases of the abovementioned developmental journey as well as the internal and external environments in which said development occurred will reveal the crises that plague the online media ecosystem currently: the easy surrender to external market forces and the excessive extent to which profit influences the online audiovisual ecosystem;a lack of originality,operational challenges and an imbalance between demand and supply;as well as an excessive overlapping of niches in the media ecosystem.To solve these problems,we believe that we should build an “internal environment” with differentiated niches and an end-to-end value chain as well as an integrated “external environment” rooted in shared values.The development of China’s private online video sharing websites spanned 17 years.A close inspection of these years would unveil the new media’s true form—an “organic entity” that feeds on external environmental elements such as technology,capital,and policy,competes with and rises above other entities in the media ecosystem,and relies on the interplay of internal environmental factors like content,userbase,and revenue—and illuminate its developmental journey from nothing to something,from small to big.In conclusion,we have dived into the historical clutter and methodically pieced together a coherent picture of the development of China’s private online video sharing websites,conducted in-depth,extensive interviews with industry experts,and tried to address the problems that continue to plague the industry.This paper documents the industry’s development and our exploratory study of its challenges and possible remedies. |
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