A report by China’s National Radio and Television Administration and the China Federation of Video and Television Associations reveals that short video app users in China have declined for the first time, suggesting a potential peak in the market.

The report indicates a drop to 1.05 billion users by the end of June 2024, down by approximately 300 million from December 2023.

China’s short video market saw significant growth in previous years, with user numbers rising from 648 million in 2018 to over 1 billion in 2023.

However, annual growth rates have slowed, decreasing from 19% to just 4%.