As the pandemic has forced so many of us out of in-person social spaces, we’re increasingly looking to technology to fill the gap. This has fueled huge growth in social media trends like live streaming, particularly in China, the first country to be affected by the crisis and the world’s second largest internet user base. Live streaming is one of China’s most lucrative and fastest growing entertainment and e-commerce sectors and its growth in 2020 has been massive. In March, the country’s live streaming market hit a whopping 560 million users – more than the entire US population and more than quadruple the 126 million watching last June – and is estimated to be worth US$16.3 billion in 2020. This has translated to significant growth for companies like Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF), Amazon (NASDAQ: AMZN), HUYA Inc. (NYSE: HUYA), Douyu International (NASDAQ: DOYU), and Momo Inc. (NASDAQ: MOMO).
Hello Pal Finds Footing in the Massive Chinese Market
China’s incredible live streaming growth has caught the attention of social media company Hello Pal International Inc. (CSE:HP) (OTC:HLLPF) and the company’s platform has impressed China’s users. Based in Vancouver, British Columbia, Hello Pal is a mobile technology company that operates a proprietary, user-friendly social networking and communication platform. A key feature of the company’s text, voice chat, and live streaming services is proprietary real-time language translation functionality, which not only allows users to engage with other users all over the world, but also gives Hello Pal the ability to establish its platform in just about any global online market.
Since adding Live, Hello Pal’s proprietary live streaming service, to the company’s platform, live streaming has been a key focus for the company. Live allows users to broadcast themselves seamlessly to Hello Pal’s global audience. Live’s success is in part due to the platform’s reward systems, which allows users to support streamers by securely offering crypto-enabled rewards, which can be turned into real cash.