SVOD penetration rate in China 2024
Video-on-demand subscription rate in China almost doubled in the past three years. According to a Chinese consumer survey conducted by Rakuten Insight in June 2024, about 86 percent of respondents had subscribed to VOD services, versus 48 percent in the same survey conducted in 2021. The survey also discovered that Tencent Video (WeTV)'s popularity had outstripped iQIYI among the respondents.