중국의 OTT 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the China OTT market size is projected to be USD 27.96 billion in 2025, USD 31.81 billion in 2026, and reach USD 56.28 billion by 2031, growing at a CAGR of 12.09% from 2026 to 2031.

This report is Segmented by Revenue Model (SVOD, AVOD, TVOD, and Hybrid Subscription and Ads), Device Type (Smartphones and Tablets, Smart TVs, Laptops and Desktops, and Other Device Types), and Content Genre (Movies and Films, TV Shows and Episodic Content, Documentaries, and Other Content Genres). The Market Forecasts are Provided in Terms of Value (USD).

China OTT Market Trends and Insights

Rising Subscription Upsell From Premium Local Content

Premium local programming remains a key reason viewers join and renew subscriptions in the China OTT market. First-run dramas and variety programs can create recurring renewal periods when platforms secure exclusive rights. iQIYI reported membership-service revenue of CNY 16.81 billion (USD 2.4 billion) in 2025, making it the company's largest revenue line despite weaker overall revenue. The result indicates that established content libraries can retain paying users when a service faces a weaker release schedule. iQIYI introduced Nadou Pro in 2026 to support professional film and television production through its Qizhi model and third-party generation tools. Lower production costs could allow major platforms to fund more original programming while protecting the exclusive titles that support higher subscription tiers, thereby reducing the pressure to choose only a few costly releases.

Accelerating Ad Monetization From Hybrid Video Bundles

Subscription and advertising are becoming increasingly intertwined across the China OTT market. iQIYI's advertising revenue declined 9% to CNY 5.19 billion (USD 0.7 billion) in 2025, which shows the difficulty of relying only on advertising revenue in long-form video. The supplied company results showed that Bilibili's advertising revenue exceeded CNY 10 billion (USD 1.4 billion) in 2025, up 22.8% from the prior year. They also reported 180% growth in AI-related advertising revenue, suggesting demand for advertising tools that match messages to audience interests. Hybrid offers can give platforms a subscription base while retaining advertising income from viewers who accept lower-priced access, thereby reducing reliance on any one source of revenue amid changing advertising conditions. This approach may be especially useful as platforms seek to serve audiences with different spending preferences without sacrificing access to premium content or creating confusing choices among service tiers.

Content Licensing Cost Inflation for Premium Originals and Sports

Content costs remain a persistent constraint for the China OTT market. iQIYI reported content costs of CNY 15.45 billion (USD 2.2 billion) for 2025, while total revenue declined 7% to CNY 27.29 billion (USD 3.8 billion). The difference between large content investments and slower revenue growth puts pressure on margins, especially when platforms must continue funding future releases to retain their existing subscriber base. Sports rights can add to this pressure because services must pay for licenses before they know how many viewers will convert to paid users. Large platforms can spread these costs across memberships, advertising, and related businesses. Smaller services have less room to absorb a costly season, which can widen the gap between leading services and independent operators and reduce the number of credible long-form competitors.

Other drivers and restraints analyzed in the detailed report include:

1. Sports Rights Differentiation Across Major Platforms
2. AI-Driven Personalization Improving Retention and Watch Time
3. Tight Platform Oversight on Content, Recommendation, and Monetization Practices

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

SVOD held 54.73% of the China OTT market share in 2025, supported by the renewal value of first-run dramas and variety programs that viewers can follow over several weeks or an entire season. The China OTT market size for SVOD benefits when exclusive releases give members a reason to maintain paid access. AVOD is projected to grow at a 13.20% CAGR through 2031, which is faster than the mature subscription model. Advertising-supported access can reach viewers who do not want another recurring payment. It can also give brands access to video audiences without requiring a direct subscription conversion. TVOD continues to serve selected film releases where a one-time payment can preserve the value of a premium title. Hybrid subscription and advertising plans combine a recurring payment floor with additional advertising income. This model gives platforms another way to protect revenue when subscription growth slows. The China OTT market, therefore, has room for several revenue models, although SVOD remains the main source of revenue. Services will need to decide which titles justify a paid window and which titles can support broader advertising reach.

Mango TV showed the value of a focused dual-revenue model in 2025, particularly for a service that connects a recognizable programming identity with membership and advertising income. Mango Excellent Media reported membership revenue of CNY 4.646 billion (USD 0.7 billion), advertising revenue of CNY 3.831 billion (USD 0.5 billion), and an effective membership base of 75.6 million. Its variety and lifestyle focus helped it build memberships without directly matching every premium drama acquisition by the largest services. The CAC rules issued in 2026 apply across revenue models when platforms work with creator networks. Platforms need content-management processes and clear creator agreements as they expand advertising, subscriptions, or sales-linked content. These requirements may make established services more reliable partners for advertisers and creators. They also raise the cost of building a new revenue model at scale. The China OTT industry is likely to favor platforms that can manage content, advertising, and compliance within the same operating system. This structure can make it easier to respond when advertising demand, viewer preferences, or regulatory duties change.

Complete Report Scope:

• By Revenue Model
  • SVOD
  • AVOD
  • TVOD
  • Hybrid Subscription and Ads
• By Device Type
  • Smartphones and Tablets
  • Smart TVs
  • Laptops and Desktops
  • Other Device Types
• By Content Genre
  • Movies and Films
  • TV Shows and Episodic Content
  • Documentaries
  • Other Content Genres

List of Companies Covered in this Report:

1. Tencent Holdings Limited
2. iQIYI, Inc.
3. Alibaba Group Holding Limited
4. Mango Excellent Media Co., Ltd.
5. Bilibili Inc.
6. ByteDance Ltd.
7. Kuaishou Technology
8. China Mobile Limited
9. China Telecom Corporation Limited
10. China Unicom (Hong Kong) Limited
11. Oriental Pearl Group Co., Ltd.
12. China Media Group
13. Wasu Media Holding Co., Ltd.
14. Guangdong South New Media Co., Ltd.
15. CIBN Oriental Network (Beijing) Co., Ltd.
16. Sohu.com Limited
17. DouYu International Holdings Limited
18. HUYA Inc.
19. Migu Video

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Rising Subscription Upsell From Premium Local Content
  • 4.2.2 Accelerating Ad Monetization From Hybrid Video Bundles
  • 4.2.3 Sports Rights Differentiation Across Major Platforms
  • 4.2.4 Smart TV and Connected Screen Viewing Expansion
  • 4.2.5 AI-Driven Personalization Improving Retention and Watch Time
  • 4.2.6 Short-Form Discovery Funnel Expanding Paid Long-Form Conversion
• 4.3 Market Restraints
  • 4.3.1 Content Licensing Cost Inflation for Premium Originals and Sports
  • 4.3.2 Tight Platform Oversight on Content, Recommendation, and Monetization Practices
  • 4.3.3 Subscription Fatigue Among Multi-Platform Users
  • 4.3.4 Margin Pressure From Heavy Bandwidth and Cloud Delivery Costs
• 4.4 Industry Value Chain Analysis
• 4.5 Impact of Macroeconomic Factors on the Market
• 4.6 Regulatory Landscape
• 4.7 Technological Outlook
• 4.8 Porter's Five Forces Analysis
  • 4.8.1 Bargaining Power of Buyers
  • 4.8.2 Bargaining Power of Suppliers
  • 4.8.3 Threat of New Entrants
  • 4.8.4 Threat of Substitutes
  • 4.8.5 Intensity of Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Revenue Model
  • 5.1.1 SVOD
  • 5.1.2 AVOD
  • 5.1.3 TVOD
  • 5.1.4 Hybrid Subscription and Ads
• 5.2 By Device Type
  • 5.2.1 Smartphones and Tablets
  • 5.2.2 Smart TVs
  • 5.2.3 Laptops and Desktops
  • 5.2.4 Other Device Types
• 5.3 By Content Genre
  • 5.3.1 Movies and Films
  • 5.3.2 TV Shows and Episodic Content
  • 5.3.3 Documentaries
  • 5.3.4 Other Content Genres

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 Tencent Holdings Limited
  • 6.4.2 iQIYI, Inc.
  • 6.4.3 Alibaba Group Holding Limited
  • 6.4.4 Mango Excellent Media Co., Ltd.
  • 6.4.5 Bilibili Inc.
  • 6.4.6 ByteDance Ltd.
  • 6.4.7 Kuaishou Technology
  • 6.4.8 China Mobile Limited
  • 6.4.9 China Telecom Corporation Limited
  • 6.4.10 China Unicom (Hong Kong) Limited
  • 6.4.11 Oriental Pearl Group Co., Ltd.
  • 6.4.12 China Media Group
  • 6.4.13 Wasu Media Holding Co., Ltd.
  • 6.4.14 Guangdong South New Media Co., Ltd.
  • 6.4.15 CIBN Oriental Network (Beijing) Co., Ltd.
  • 6.4.16 Sohu.com Limited
  • 6.4.17 DouYu International Holdings Limited
  • 6.4.18 HUYA Inc.
  • 6.4.19 Migu Video

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment