iQiyi launched the Jin Shi video streaming app to conquer the Chinese who demand more mature content and in line with their needs
How to conquer the digital audience of those Chinese who are about 50 years of age? iQyiy tries with Jin Shi, its new video streaming application with content for “over 50”. Calculating that, according to national statistics, one in five Chinese is currently at least 60 years old, this is certainly an interesting market full of opportunities.
With a clean user interface and easy swiping, Jin Shi resembles Beijing Bytedance’s popular short video app Tik Tok, but the content is very different. On the Jin Shi application, in fact, you can see clips with tips on how to deal with difficult family relationships, how to eat a healthy diet and, moreover, users who do not want to watch the video can also switch to audio only.
The country’s senior population hit 241 million at the end of 2017, and is set to rise to 487 million around 2050
This new iQiyi initiative is also one of the first attempts to conquer the digital market of the future in China. The elderly, in fact, less predisposed to watch videos as children, will increase more and more in China, creating an important reference market.
According to a recent survey by the Tencent Research Institute and the University of Shenzhen, about 50 million WeChat users are over 55, but now represent only 2.7% of the entire user base. The surprising fact is that only the previous year users over 55 were only 7.68 million.
Over the past year, Chinese users have more than tripled the amount of time they spend watching short videos
But we still have to wait before we can download Jin Shi. The app, in fact, is currently being launched, and feedback will be collected before deciding the next move, said an iQiyi spokesperson.
But the search for the future market made by the older Chinese population has just begun. Earlier this year, Alibaba Group Holding published job advertisements for people aged over 60 to help the company’s efforts to “better understand how older consumers shop online and improve that experience”.
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