A look at how streamers like Bytedance have prospered in China while the country has lost 20% of its theatrical release capacity and 5K+ film and TV companies
Things got weird on the Chinese Internet in January. — With at least 760 million of the nation's residents … Tweets: @variety , @variety , and @variety Tweets: @variety : Coronavirus is catalyzing a tectonic shift in Chinese entertainment toward digital models: “In the future, people will talk about ‘before 2020’ and ‘after 2020.’ It will be a big deal — a landmark” https://variety.com/... @variety : While China's box office is expected to drop by more than $4.2 billion this year, the sum of payouts from online clicks for digital content will “definitely surpass” the theatrical box office, says Gong Yu, CEO of streamer iQiyi https://variety.com/... @variety : When COVID-19 swept through China during the Lunar New Year holiday, a whopping 600 million people tuned into digital giant Bytedance's various video platforms to watch the only blockbuster they'd have access to for months: Xu Zheng's #LostInRussia https://variety.com/...