Livestreaming in China is growing, offering hopes of fame and wealth to ordinary Chinese

But even as lesser-known brands turn to KOLs for help, the industry is still dominated by heavyweights, and increasingly demands professionalization.

About a year ago, one user's videos could easily gain traction, but now, a whole team needs to support that person, said Kelvin Zhao, who is based in Beijing and has spent the last four years working for a top content creator. ", the best time is over," said Zhao, according to a CNBC translation of his Mandarin-language remarks. Zhao noted it now costs at least as much to create a good short video as it does to make an online movie. "To win is very hard, not impossible, but the investment you need to make is much higher."5,000 agencies

known as "multi-channel networks" — which act as talent agencies connecting KOLs with brands and sometimes assisting with content production. Pedro Yip, retail partner at consulting firm Oliver Wyman, said a middleman can get 10% to 25% in commission, of which a smaller share goes to the KOL. "Income changes as popularity moves with the market," he said. "Usually what happens is the price goes exponential."Five years since Wu started following a few livestreamers for his documentary, the director said they still make about the same income as before.

Source: News Formal (newsformal.com)

Yeah Chinazi.

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