FOMO in China is a $7 billion industry

www.marketplace.org

This is a fascinating piece on the Chinese podcast industry from a few weeks ago. Generating almost $7.3bn a year in revenue (both advertising and subscription) compared to an estimated $314mm in the US (ad revenue), Chinese consumers are seemingly constantly looking for new information due to a combination of factors:

desire for focused information that’s useful and relevant; the need to update skills constantly in China’s competitive job market; the ease of paying on a mobile phone; and FOMO — the fear of missing out.

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