NEW YORK, April 13, 2021 /PRNewswire/ -- Advances in streaming services now allow users to directly transmit media anywhere, at any time. In fact, the development of technologies such as artificial intelligence, 5G, and cloud all allow providers to deliver optimal streaming services to their users. For instance, AI is allowing content producers to make quality content like never before. Moreover, cloud-based video streaming solutions are increasing the reach of video content, which is further influencing the market growth. Furthermore, regions in which digital technology is profoundly adopted are expected to witness the largest growth within the streaming service industry. In addition, one side effect of the pandemic is the sharp increase in online streaming content consumption. Online video viewer growth rates showed no sign of slowing down even before the pandemic. After it started, growth rates accelerated. Scienjoy Holding Corporation /zigman2/quotes/202665805/composite SJ -1.75% , fuboTV Inc. /zigman2/quotes/201214080/composite FUBO -3.26% , JD.com, Inc. /zigman2/quotes/205122565/composite JD -0.88% , Tencent Holding Ltd. /zigman2/quotes/207908563/composite TCEHY +2.51% , Baidu, Inc. /zigman2/quotes/209050136/composite BIDU +1.43%
For similar reasons, the global e-commerce sector continues to grow at a striking rate, as more and more people are now constantly connected to the internet. Additionally, the implementation of new technologies such as 4G and 5G is also expected to have a positive impact on the market growth, as they help provide an uninterrupted experience to the user. Moreover, the adoption of smartphones is gaining momentum at a significant rate, thus increasing the exposure of online shopping to customers. E-commerce growth is also driven in part due to the increasing importance of online marketing tools, such as Google ads and Facebook ads. During the pandemic, the shift to online shopping had swiftly accelerated, with an estimated 85% of people worldwide now shopping online, according to data provided by Facebook. Capitalizing on the opportunity, the social media giant announced the introduction of Facebook Shop, a new place to discover businesses and shop for products within the social media app.
Scienjoy Holding Corporation /zigman2/quotes/202665805/composite SJ -1.75% announced yesterday breaking news that, "it has established a strategic partnership with Fujian Chuanzheng Communications College ("Fujian Chuanzheng") and Hangzhou Liyumen Technology Development Ltd. ("Liyumen"), to establish a broadcaster training academy for live stream entertainment and e-commerce. This groundbreaking partnership will strengthen Scienjoy's broadcaster development pipeline, help standardize and develop the live stream talent industry, and contribute to overall employment in China.
This partnership will leverage the advantages of all three parties to build a brand-new talent development pipeline that unites leaders in academia and industry. The partnership will utilize Fujian Chuanzheng's educational experience and deep pool of talented students. Liyumen, a prominent multi-channel network (MCN) will provide extensive experience in broadcaster training. Scienjoy will bring its years of industry-leading experience in live streaming to provide pivotal support in areas including faculty development, curriculum design, hands-on student internships, and access to the latest technology.
With China's ever-expanding online economy, e-commerce and consumers are more connected than ever. On July 6, 2020, "Internet Marketer," was officially certified as a new profession by the Ministry of Human Resources and Social Security of China, the State Administration for Market Regulation of China and the National Bureau of Statistics of China. According to the "2020 Spring White Paper on Live Streaming Industry Talents," published by the online recruitment provider Zhaopin.com and e-commerce site Taobao's official ranking service, in the first half of 2020 demand for talent to fill key positions in the live streaming economy rose 3.6 times from H1 2019, while the number of job seekers entering the sector also rose 2.4 times from H1 2019.
As a leading live stream platform in China, Scienjoy has ramped up investment in talent training as part of its strategy to establish a "Live Streaming Full Ecosystem." According to the strategy, announced in December 2020, Scienjoy is building out an ecosystem that unites entertainment, e-commerce and multi-channel networks (MCNs). E-commerce and entertainment constitute the two pillars of Scienjoy's live stream ecosystem content, while MCNs, which handle broadcaster training and the content pipeline, are the key driver for the platform's future growth. MCNs are agencies that manage broadcasters from talent training and development to content monetization on Scienjoy's platforms and external platforms like WeChat and Douyin. As such, Scienjoy sees integration between the MCN training pipeline and academia as a critical step towards ramping up talent acquisition and further improving the quality of its talent pool of roughly 300,000 broadcasters.
'Scienjoy sees this and future partnerships with specialized training institutions as an important step to ensuring continued business growth and acquiring the best live streaming talent,' said Victor He, chairman and chief executive officer of Scienjoy. 'By training the next generation of broadcasters, we hope to not only attract the best talent to Scienjoy, but also bring value to the entire industry. Teaching new broadcasters best practices and how to use new technology will help promote the standardization and healthy development of the whole industry.'"
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fuboTV Inc. /zigman2/quotes/201214080/composite FUBO -3.26% announced on April 8th, it has acquired the exclusive live streaming rights to the Qatar World Cup 2022 Qualifying matches of South American Football Confederation. "Our mission is to provide the world's most thrilling sports-first live TV experience with the greatest breadth of premium content, interactivity and integrated wagering," said David Gandler, co-founder and CEO, fuboTV. "By offering the best of South American soccer in advance of Qatar 2022, we are further differentiating fuboTV's sports-first content portfolio enabling us to engage with more consumers than ever before."
JD.com, Inc. /zigman2/quotes/205122565/composite JD -0.88% announced on March 11th, its unaudited financial results for the quarter and the full year ended December 31, 2020. "JD saw accelerated revenue and user growth during the fourth quarter driven by our long-term operating philosophy and customer-centric value proposition despite the ongoing market challenges," said Richard Liu, Chairman and Chief Executive Officer of JD.com. "During this quarter, JD continued its strategic transformation into a supply chain-based technology and service company with increasingly diversified sources of revenues. With a strong momentum going into 2021 and with our recently optimized organizational structure, JD will continue to invest in innovative, high potential businesses to drive long-term sustainable growth."
Tencent Holding Ltd. /zigman2/quotes/207908563/composite TCEHY +2.51% announced on January 19th, its social networking tool Weixin celebrated its 10th anniversary at this year's Weixin Open Class PRO, and disclosed that its ecosystem has continued to grow with flagship services including Mini Programs having attracted more users and served more businesses. Weixin Video Accounts, or Channels, empowers businesses and other influencers to create and watch video and photo feeds. Weixin Channels was only in operation for one year, but has been widely adopted by brands and influencers as a fun and creative way to grow their fan bases. A number of well-known brands such as Nio, JD.com and Baidu have utilized short videos or live-streaming to grow followers, as well as market and sell products directly to consumers.
Baidu, Inc. /zigman2/quotes/209050136/composite BIDU +1.43% announced last November, that the Company had entered into definitive agreements with JOYY Inc. ("JOYY"). Pursuant to the agreements, Baidu will acquire JOYY's domestic video-based entertainment live streaming business in China ("YY Live"), which includes YY mobile app, YY.com website and PC YY, among others, for an aggregate purchase price of approximately US$3.6 billion in cash, subject to certain adjustments. The closing of the transaction is subject to certain conditions and is currently expected to occur in the first half of 2021. "Baidu has built a vibrant mobile ecosystem in the past few years to enable the fast growth of our non-advertising revenues by increasing log in users, adding social engagement to our platform and expanding non-advertising offerings, including membership, live streaming and online games. This transaction will catapult Baidu into a leading platform for live streaming and diversify our revenue source." said Robin Li, Co-Founder and CEO of Baidu.
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