Opinion: The number of users exceeded 540 million, and audio knowledge payments became mainstream in the sports industry

CRAZY SPORTS wrote a column · 09/24/2021 10:12
Opinion: The number of users exceeded 540 million, and audio knowledge payments became mainstream in the sports industry

With the improvement of living standards, people's demand for culture and entertainment is also increasing year by year, and the demand for entertainment is also gradually increasing and popularizing. In recent years, there has been a boom in online audio content payments, and all walks of life are deeply cultivating and making efforts in this field. In the sports industry, leading brands such as media personality Yang Yi (Yang Yi) and “Sports Weekly” have also launched knowledge payment services on major audio platforms.
According to the “2020 Audio Pan-Knowledge Payment Market Insights” report (hereinafter referred to as the report) published by Yiguan, an authoritative third-party data website in China, the market size of the pan-knowledge payment industry has exceeded 23 billion, and the number of users has exceeded 540 million. With the support of various parties, such as policies and technology, the pan-knowledge payment market maintained a good development trend last year despite the pandemic.
Pay for knowledge to monetize audio content
The audio spreads faster, covers a wider range, and is more time-efficient. Accompaniment is an audio carrier's greatest strength. Simply put, when listening to audio, the audience can do other things while listening, and can listen privately anytime, anywhere, especially during subway rides, driving, etc. This is an advantage unmatched by video carriers.

Opinion: The number of users exceeded 540 million, and audio knowledge payments became mainstream in the sports industry

The report points out that in 2020, the number of users in the audio pan-knowledge payment industry showed an upward trend, and the overall development of the industry was improving. In 2020, the audio pan-knowledge payment platform provided more detailed and improved services to users. Through exclusive customer service, member trials, etc., users can also enjoy an interactive and personalized experience online. In terms of content, the pan-knowledge payment industry is actively expanding content categories and adding premium paid albums to meet user needs.
Young and highly educated users are the main group for audio pan-knowledge payments. The payment penetration rate of post-60s and post-00s users is gradually increasing, and users' pan-knowledge payment habits have developed. The content consumer market is showing a downward trend, and user demand in fourth- and fifth-tier cities is increasing. Obtaining information, learning, and entertainment through pan-knowledge paid content has become a new trend in trendy lifestyle.
Podcasts (podcasts) are becoming an emerging driving force, and the Chinese podcast consumer market is expanding further. According to PodfestChina research data, nearly 90% of podcast users support commercialization of programs and are willing to pay to buy them. Chinese podcast content focuses on current hot topics, and the number of listeners in the podcast market is constantly increasing. In the past three years, 56.7% of users have become podcast enthusiasts.

Opinion: The number of users exceeded 540 million, and audio knowledge payments became mainstream in the sports industry
According to the report data, paying users are happy to seek information. Over 60% of users have a habit of buying pan-knowledge paid content for a long time and are willing to pay for high-quality content. More than 34.48% of paying users value the professional ability of anchors.
Obviously, the high-quality content that domestic users need should be dominated by more vertical and in-depth content to fully satisfy their level of desire for knowledge.
The golden age of payment for sports knowledge
Being in the field of sports event information services at the intersection of sports knowledge payment and audio industries of tens of billions, it has undoubtedly ushered in an excellent opportunity for development. China's economy has changed from a stage of rapid growth to a stage of high-quality development. The people's yearning for a better life includes the yearning for physical fitness through sports.
“Crazy Red List” under Crazy Sports, a Hong Kong stock listed company, is a leading domestic sports knowledge payment platform. By optimizing its own business, expanding content categories, and deepening quality content, it brings users a richer knowledge payment experience. “Red Single Premium Course” is its special section. It relies on the rich expertise of specially invited tournament analysts such as Gong Lei, Li Weifeng, and Ma Dexing to bring users exclusive game interpretation and game forward-looking analysis. At the same time, through cooperation with well-known audio platforms such as the Himalaya, the most professional content was provided to a wide range of users.
Today, sports consumption is gradually entering a process of upgrading from free to payment, from participation to experience. In the trillion dollar market, the sports industry needs platforms such as Crazy Red List, so that the sports industry can develop intellectually and professionally.
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Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty. Read more
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