Tencent, Baidu and Alibaba have all marched into the segment either by launching their own platforms or by investing in existing players.
For instance, Xiaomi founder Lei Jun, who is dubbed China's Steve Jobs, has already launched several products via the company's own live streaming app. Such launch events include an online media conference.
His debut on the app attracted 80,000 viewers and earned him some virtual Ferraris, each worth thousands of yuan.
According to industry analysts, the live streaming apps segment in China is fast reaching a takeoff point, helped by the expanding 4G networks, which deliver improved mobile video viewing experiences via smartphones. The growing number of internet stars is another catalyst.
Given that few 20-somethings watch TV these days, backers of live streams are already forecasting a rosy future for the segment. They feel live apps may well prove an alternative to TV in coming years.
"For example, the Hunan TV station earns tens of billions of yuan in advertisement income every year. If a good host can bring in 10 million yuan in advertisements to an app, total ad revenue from 1,000 (such) hosts could equal that of a traditional TV station," Feng said.
