On July 14, according to Uploadvr, China's Internet giants BAT (Alibaba, Tencent, and Baidu) are making significant strides in the virtual reality (VR) space by adopting unique strategies tailored to the local market. Unlike global competitors such as Facebook or HTC, which focus on developing premium VR headsets, BAT is positioning itself as intermediaries, leveraging their vast resources to build robust platforms and content ecosystems for VR.
China boasts 688 million internet users, providing a massive pool of potential consumers for VR content. Research firm iMedia forecasts that China’s VR market could soar to 55 billion yuan by 2020, compared to just 1.5 billion yuan last year. Canalys projects that out of the 6.3 million VR headsets expected to be shipped globally this year, Chinese consumers are predicted to account for 40%. Let’s explore how BAT is investing in VR and reshaping the emerging VR landscape in China.
Baidu, one of China’s leading tech companies, announced in May that it aims to develop the world’s largest Chinese-language VR service via its streaming video platform, iQiyi. Partnering with over 300 companies, including Beijing Baofeng Technology, Baidu has launched an application suite that ensures compatibility between its films and games with various VR headsets. The company is also exploring live VR concerts and VR movie production, aiming to adapt its content dynamically to evolving consumer preferences.
The Chinese VR market shows immense promise, particularly in video streaming. Immersive video and gaming are projected to be the first major growth areas in VR. With around 504 million regular users on streaming media platforms, VR live streaming could see rapid adoption. Unlike the U.S., where companies emphasize high-end hardware, Chinese firms are focusing on entertainment experiences. A Niko Partners survey found that half of China’s gamers are interested in VR, and 30% are willing to spend up to $200 on VR devices.
Turning to Tencent, China’s largest social media and gaming conglomerate, the company is heavily investing in VR content creation. Tencent has already hosted live VR concerts for musicians and acquired rights to 300 Japanese anime franchises. The company is also expanding its mobile gaming portfolio, a lucrative market with nearly 400 million online gamers in China. IResearch predicts that online gaming revenue will jump to 251 billion yuan in 2018 from 143 billion yuan last year. Tencent’s acquisition of Original Force, a company specializing in computer-generated VR content and VR movies for Oculus Rift, underscores its strategy of securing engaging content to retain its 1.3 billion active WeChat and QQ users.
Meanwhile, Alibaba, the e-commerce giant, is creating a VR shopping experience for its 400 million users. Bloomberg reports that Alibaba has developed 3D renderings for hundreds of products and is helping merchants design their own VR shopping experiences. Last year, Alibaba launched its virtual shopping mall, Buy+, which uses Google Cardboard. This initiative has already attracted significant attention; reportedly, over 30,000 users tried the platform within an hour of its launch. Additionally, Alibaba has introduced VR Pay, enabling consumers to make purchases using VR avatars. Utilizing biometric technology, VR Pay verifies identities through unique voice patterns before authorizing transactions.
So far, there is no clear leader in China’s VR race. However, the powerful BAT trio is clearly focused on building dominant platforms and content rather than solely competing in hardware development. Once mainstream VR headsets hit the Chinese market, these companies are poised to seize control. The future of VR in China looks bright, with these tech giants paving the way for an immersive digital revolution.
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