TENCENT(HK:00700) Chan Ye Xin Xi Wang·2025-07-13 02:02Core Viewpoint - The concert live streaming industry has emerged as a digital extension of offline performances, leveraging real-time streaming technology to synchronize live shows to online platforms, enhancing audience experience and market growth [1][6][9]. Group 1: Industry Definition and Advantages - Concert live streaming is defined as a commercial performance centered around music, utilizing real-time streaming technology to broadcast live events online [2][10]. - Advantages of online concerts include lower ticket prices, higher convenience for viewers, reduced risks compared to offline events, the ability to connect across distances, and immersive experiences through virtual and interactive social media [2][4]. Group 2: Industry Development Status - Prior to 2020, China's concert revenue was steadily increasing, with revenues of 514.11 billion yuan in 2018 and 538 billion yuan in 2019. However, the pandemic caused a decline, with revenues dropping to 247.48 billion yuan in 2020, 335.85 billion yuan in 2021, and 243.6 billion yuan in 2022. The market rebounded in 2023 with revenues reaching 739.94 billion yuan, projected to grow to 796.29 billion yuan in 2024 [7][9]. - The rise of online concert live streaming has provided a new avenue for the music performance industry, meeting the cultural and spiritual needs of the audience during the pandemic [9][12]. Group 3: Industry Chain - The concert live streaming industry chain consists of upstream content producers (artists, agencies, copyright holders), midstream technology and production providers, and downstream distribution and commercialization channels [10][21]. Group 4: Competitive Landscape - The concert live streaming industry has developed various business models, including direct ticket sales, brand partnerships, sponsorships, and virtual goods sales. Major platforms like QQ Music, NetEase Cloud Music, Douyin, and Kuaishou have emerged, each adopting unique operational strategies to attract users [21][24]. Group 5: Industry Development Trends - The online concert market is expected to continue its rapid growth, driven by advancements in technologies such as 5G, VR/AR, and AI, which will enhance the intelligence, convenience, and personalization of services [24].