![]() "The biggest advantages of Ximalaya include its leading copyright pool, leading audio algorithms, and a loyal customer base who recognize the brand's value," said Huo, who remained sanguine about the prospects of paid content and online adult education.Ĭhina's online audio market is projected to jump nearly tenfold from 5.6 billion yuan in 2017 to 54.3 billion yuan in 2022, according to Statista.ĭata from iiMedia Research showed the steady growth of audio content consumers since 2018. The primary means of audio monetization in China include membership subscription, paid on-demand content, advertising, livestreaming and education, according to Huo Zhongyan, a partner at Whales Capital. Nearly 80 percent of Ximalaya users are under the age of 40, whereas more than half of them reside in China's relatively affluent first- and second-tier cities, the company said. In 2020, users of Ximalaya's apps spent 1.56 trillion minutes listening to audio content, accounting for about three-quarters of total mobile listening time among all online audio platforms in China, according to consultancy CIC. The company incurred a combined loss of more than 2 billion yuan between 20. The company reported revenue of 2.51 billion yuan ($389.8 million) for the first half of this year, up 56 percent year-on-year, yielding a net loss of 324 million yuan, according to its prospectus. It boasted 262 million monthly active users as of June. ![]() Ximalaya provides a wide variety of audio content through which people share knowledge, information or entertainment. Ximalaya had earlier dropped plans to list in the United States. The size of the float has not been determined. Shanghai-based Ximalaya Inc, an online audio platform on the Chinese mainland, has filed for initial public offering in Hong Kong, suggesting investors may be confident about the future prospects of the burgeoning niche media market. The Ximalaya booth showcasing its online audio products in Shanghai, on May 9, 2021.
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