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July 30, 2016

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Investors aim to tap digital ‘gold mines’

ONLINE broadcasting and virtual reality are regarded as new “gold mines” in the digital entertainment market in China, industry officials said during the Chinajoy fair yesterday.

One of the spotlights at the country’s biggest game show, held annually in Shanghai, is online broadcasting which offers talk shows and game narrations and attracts huge attention from gamers and also potential advertising income.

The medium has attracted investments from iQiyi, Qihoo 360 and Wang Sicong, son of property tycoon and Wanda Group President Wang Jianlin.

Online video website iQiyi will invest heavily to offer broadcasting hosts packaged services including training, marketing promotion and income sharing, said Xu Weifeng, iQiyi’s co-president.

Baofeng aims to sell 5-10 million VR devices by the end of this year.

The market will have an “explosive growth” from the second half, especially in mobile VR sector, due to improved smartphone screens with high definition, Google’s Daydream system and enriched contents, said Huang Xiaojie, chief executive of Baofeng Mojing, the VR subsidiary of the company.

HTC said it will, together with new venture capital partners, raise the capital of its Virtual Reality Venture Capital Alliance to US$12 billion from US$10 billion to support VR developers.


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