倒闭7万家，KTV被年轻人抛弃了？

Core Insights - The traditional KTV industry in China has seen a dramatic decline, with the number of KTV outlets dropping from 120,000 in 2014 to less than 40,000 in 2022, indicating a significant retreat from the public eye [1][3] - The industry's total revenue in 2023 is projected to be only 15 billion RMB, a 62.5% decrease from 2014, highlighting the severe contraction of the market [3] Industry Overview - KTV chains like QianGui and HaoLeDi previously thrived with a business model centered around "private room singing + beverage sales," achieving annual net profits of up to 10 million RMB per store [2] - The KTV sector once contributed to a related market worth 400 billion RMB, encompassing beverages, snacks, and audio equipment [2] Current Challenges - The closure rate of KTV establishments has exceeded 70%, and revenue continues to decline despite post-pandemic recovery efforts [3] - Intense price competition driven by group-buying platforms has led to unsustainable pricing, with some KTVs offering singing sessions for as low as 9.9 RMB per hour [5] - Rising operational costs, particularly due to increased music copyright enforcement actions, have further strained KTV businesses [6][7] Changing Consumer Demographics - The core consumer demographic for KTV has shifted from younger generations (post-80s and post-90s) to older adults (60+), with the proportion of 18-35 year-olds dropping from 78% in 2015 to 28% in 2023 [8] - The average spending of the older demographic is significantly lower, at only 35 RMB per visit, compared to younger consumers [8] Emerging Competition - New entertainment options are increasingly replacing traditional KTV, with activities like script murder games, camping, and esports gaining popularity among younger audiences [9] - Online karaoke platforms have seen explosive growth, with user numbers surpassing 510 million and market size reaching 15.58 billion RMB in 2023, a 45% year-on-year increase [11] - Tencent's online karaoke service generated 15.23 billion RMB in subscription revenue last year, exceeding the total net profit of the entire offline KTV industry [12] Market Outlook - Despite the significant contraction, the offline KTV market remains substantial, but the era of high profits appears to be over, as the industry struggles to adapt to changing consumer preferences and competitive pressures [12]