Four years ago, Liu Feng, President of Shanghai Film Dubbing Studio, knew nothing of audio sharing platforms. So when Ximalaya FM approached him to produce audio dramas, he was dubious.

"What if we go through the effort of making them and then no one wants to listen to them?" Liu wondered. After Ximalaya's staff reassured him that high-quality content would always be welcomed by the platform's users, he decided to take a chance.

Since then, the state-owned dubbing studio has produced more than 10 audio plays based on Chinese and foreign classical literature. An audio play adapted from A Dream of Red Mansions, one of the four great classic novels in Chinese literature, has been listened to more than 100 million times and has 800,000 plus subscribers, with a rating of 9.4 out of 10 on the platform.

As of late 2021, Ximalaya had more than 13 million content creators. One of these, Shanghai-based publisher DookBook has published more than 100 works on the platform, including an audiobook of the popular novel River of Time, which became famous after it had been adapted into the 2018 television period drama Like a Flowing River.

Although the audio products are a new form of business for the company and only account for a small proportion of its revenue, they are allowing it to cater to consumers who prefer listening to rather than reading books.

In addition to accounts belonging to businesses, private accounts are also thriving on audio-sharing platforms. According to market consultancy iiMedia Research, in addition to making money, 56.2 percent of online audio creators said they chose to create online audio programs to express their emotions and 54.9 percent said they wanted to share their lifestyles and hobbies with others through the online format.

One content creator, Zhao Ziyu, told People's Daily she wanted to share her understanding of topical social issues through podcasting. The first episode of her podcast, cocreated with her partner, received many likes and comments which inspired her to keep going. She now plans to make her content more interactive by increasing the dialogue with her audience.

A way of life

Listening to online audio products has become part of everyday life for many people in China. Tan Yueming, who works in Beijing, said listening to audiobooks during her two-hour daily subway commute has become a good way for her to improve herself. To her, listening to audiobooks is faster and more convenient than reading. "After listening to more than 10 books in one year, I have gained a lot," she said.

A Beijing resident surnamed Li said he often listens to crosstalk, a traditional Chinese performing art featuring comical dialogue, or talk shows while driving. "Online audio platforms provide more choice than a car radio," he said.

According to iiMedia Research, in 2021, the number of online audio users

in China reached 640 million and the size of China's online audio market reached 22 billion yuan ($3.15 billion), up 67.9 percent year on year. Among China's online audio users, 48.8 percent used the service for less than two hours a day, and 49.9 percent used the services for two to five hours a day.

As the number of platforms has grown, the content and forms of online audio programs have become more diverse. The platforms feature programs including music and plays, satisfying the listener's need for relaxation, self-improvement and information.

Of these diverse content forms, audiobooks are gaining the most momentum. According to the 19th national survey on Chinese people's reading habits, released by the Chinese Academy of Press and Publication in April, 32.7 percent of adults were in the habit of listening to audiobooks in 2021, up 1.1 percent year on year.

According to a report on the use of online audio programs by Chinese youth in 2021, released in January by online audio sharing platform Lizhi FM, literature and language learning programs are becoming increasingly popular. While isolating at home during the pandemic, more and more young people have chosen to listen to audio programs to gain knowledge and skills.

A large market

Platforms that allow audiences to give virtual gifts and tips provide a source of revenue for live-streamers. However, for other audio content providers, subscriptions and advertisements are the primary income source.

According to Everbright Securities' estimates, China's online audio market will reach 70.3 billion yuan ($10 billion) by 2025, including 41 billion yuan ($5.87 billion) from subscriptions, 10.5 billion yuan ($1.5 billion) from tipping live-streamers, and 18.8 billion yuan ($2.69 billion) from advertising.

Audio products have a unique market value because they enable people to make use of fragmented time slots in their daily life such as while commuting, cooking or running. Like reading, audio content leaves more room for people's imaginations when compared to video content.

Keen to tap into these profits and engage new audiences, creators of other content forms are also exploring the audio format. For example, state broadcaster China Media Group launched its audio app Cloud Listening in March 2020 and tech company ByteDance launched the Novel FM app in 2020.

To thrive in the increasingly competitive market, Liu Jun, Deputy Director of the Media Arts and Cultural Studies Center at the Communication University of China, said audio platforms should focus on building quality content, increasing functionality and strengthening promotion.

To improve its content, Ximalaya has established partnerships with renowned online and offline publishing houses such as China Publishing Group Corp. and China Literature Ltd., also known as Yuewen Group, a market leader among online literature platforms in China, to obtain the audio adaptation copyrights to classics, modern bestsellers and online literary works.

To expand its business, Ximalaya has partnered with tech companies including Tencent and Huawei to make its programs available on their intelligent speakers. With the growth of the market for the Internet of Vehicles, a network that interconnects pedestrians, cars and parts of urban infrastructure, online audio platforms such as Cloud Listening and Lizhi FM are accelerating efforts to expand their functionality to include vehicle compatibility.

(Print Edition Title: Ear Economy)

Copyedited by G.P. Wilson

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