Audio platforms compete at full volume

'Knowledge' business grows fast, attracts many entrants

Zhang Xinlei, a 32-year-old software engineer in Beijing, has been listening to audio programs through online audio-sharing platforms for more than four years. He said the animated voices help enrich his spiritual side and alleviate work pressure.

"I like to tune into an audiobook when I am making a meal or doing some cleaning at home. The first audio works I listened to were Sherlock Holmes detective stories. The plots are full of thrills and suspense, and the narrator's enchanting voice helps make it unforgettable," Zhang said.

"To my surprise, the audio storytellers were able to mimic the voices of different characters vividly. I became addicted to this method of storytelling and even paid a membership fee for one of my favorite audio platforms," he added.

The increasingly fast pace of life means a growing number of people are enthusiastic about listening to books rather than reading them, which has given a big boost to the online audio industry amid the COVID-19 pandemic.

Audio programs cover a wide variety of material, including the fast-paced dialogue called cross talk as well as business and finance, culture and history, children's stories and language learning－enough to satisfy the diverse interests of people across different age groups, industry experts said.

Experts recommended that audio platforms explore new sources of revenue, diversify methods of monetization and continue to expand the range of their content. The goal is to enhance user willingness to return to their products, use them more frequently and cultivate the habit of paying for knowledge.

China's online audio industry has grown rapidly in recent years, with revenue amounting to 22 billion yuan ($3.45 billion) in 2021, up 67.9 percent on a yearly basis, according to consultancy iiMedia Research. The figure is projected to rise 41.8 percent year-on-year to 31.2 billion yuan this year.