World Knowledge Forum

[WKF2020│Tsinghua University MBA] Internet Celebrity (Wang Hong) Economy in China│Jin Zhang (Tsinghua University, Associate Professor)

MBA2020-11-02

 

* Internet Celebrity (Wang Hong) Economy in China│Jin Zhang (Tsinghua University, Associate Professor): Along with the rise of the huge numbers of internet users and social media users, internet celebrities and internet celebrity economy have achieved an extreme expand in popularity becoming the most frequent topic in China. Chinese internet celebrities or internet influencers, known as “Wang Hong”, are people who have become famous on Chinese social media and online communities and who use their popularity to get their fans to purchase goods or services that they endorse. They publish stylish photos, videos, and other content online for their fans. Internet celebrity or Wang Hong present themselves on the major Chinese social media platforms such as WeChat, Sina Weibo, Tik Tok, and other major platforms. Internet celebrity economy means the business chain of internet celebrities which includes incubators and agents, support teams and platforms, online marketing strategies as well as product selling methods. The COVID-19 epidemic has accelerated the development of e-commerce, especially the internet celebrity economy in China. In addition to the traditional internet celebrities, more and more people have joined the force of Wang Hong. Owners of enterprises sell their products or services and government leaders promote their cities or local produces on the social platform. The scale of the internet celebrity economy in China reached 100 billion Chinese yuan and it is estimated the scale of the internet celebrity economy will be approximately 300 billion Chinese yuan (43 billion U.S. dollars) in 2020.#WangHong, #Celebrity, #Tsinghua

 

 

 

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