China's 2014 online audio-visual market revenue tops $6b

SHANGHAI - The revenue of China's online audio-visual market in 2014 is expected to reach a record 37.8 billion yuan ($6 billion), according to a report released at the Sixth China Network Audio-Visual Industry Forum in Shanghai on Thursday.

Among the revenue, 53 percent comes from online video, 21 percent from online music and 13 percent from mobile phone TV, according to the report.

As of July this year, China's online video audience reached 439 million, covering more than 70 percent of the total Chinese Internet users. The mobile phone video audience surpassed 300 million, according to the report.

The forum is co-hosted by the State Administration of Press, Publication, Radio, Film and Television and the Shanghai municipal government.