With the increasing income level of most people, people are not only lingering in chai rice oil and salt in terms of daily expenses, more and more people pay attention to their own leisure and entertainment, and the cost in this regard naturally increases.
According to the data released by the National Bureau of Statistics, in the first 9 months of 2021, the per capita consumption of all residents in China has reached 17275 yuan, an increase of 15.8% compared with the amount in the same period in 2020, and among them, the per capita entertainment expenditure has increased by 46.3% to 1867 yuan.
Moreover, the current entertainment methods have also become diversified, and people's choices have become more, watching movies, playing games, script killing, etc., are more popular entertainment methods for the public. However, do you remember KTV, which was once known as the "gathering place" for young people?
KTV's "Demise History"
Throughout the "history" of KTV in China, as early as the 1980s, when the first KTV in the inland area was officially opened, in that era of lack of entertainment, KTV became the "king of entertainment", and with the blossoming KTV, this entertainment model has gradually become one of the public's favorite places.
Unfortunately, time has flown by, and the traditional KTV has gradually "declined" in the past two years. According to the data of the enterprise investigation, as early as 2019, the number of KTV stores closed in China was as high as 4609. However, at that time, there were still more than 50,000 KTV in China.
By the end of 2020, the number of KTV in China was only 47235, which shows that the "speed" of KTV closure is accelerating year by year. At the same time, judging from the report of the Prospective Industry Research Institute, the market size of the entire traditional KTV has also "shrunk" sharply.
In 2019, the market size of China's traditional KTV has exceeded 100 billion, reaching 103.4 billion yuan, and by 2020, this scale has directly dropped to 80.7 billion yuan; moreover, since 2019, the annual revenue of the overall industry has also been declining, about 300 million yuan less than 2018 in 2019 to 127.72 billion yuan, and in 2020, the direct "cliff-like decline" is only 59.69 billion yuan.
Some people say that the entire industry has now fallen into a "cold winter", and in the future, traditional KTV will even "die" in the market.
Consumers are "aging" and their incomes are decreasing
Of course, the "recession" of any industry is for a reason, KTV is nothing more than this, the "black swan event" in 2020 is certainly a reason, KTV's long-term closure, coupled with the power of online entertainment, has given the entire industry a big "blow", but this incident may only be "the last straw to crush the camel".
In fact, the decline of the KTV industry has long appeared, offline entertainment methods have now become diverse, and young people's love for KTV is not as good as before, KTV has gradually become "no one cares", Meituan has previously released a set of data, in the first half of 2021, KTV's consumer groups are showing "aging".
Among them, the young group representatives, consumers aged about 18 to 21 years old, directly decreased by 13.4% year-on-year, and the amount of consumption was also reduced by 15.4%, but many elderly people who have reached retirement age have come to KTV more times. However, the reduction of young consumers may directly lead to the loss of KTV.
After all, compared with young people, the consumption power of the elderly is not high, in the data of the US group, 70% of the main consumers of KTV are after 60, while only 12.6% are after 90; but in the case of high consumption, 9% of the post-60s consumption is above 500 yuan, and the post-90s account for 40%.
It can be seen that young consumers are the main consumer groups supporting KTV revenue, and the reduction of young people today will inevitably cause kTV's revenue to decrease. Of course, this is one of the reasons, and another reason is that the "new" K-song entertainment is seizing the market.
Online K songs have also seized the offline K song market
Everyone should feel that since the day there was KTV, the "state" of KTV seems to have not changed, and the entire industry has not had any innovation, that is, private room K songs, drinks and snacks and the like. But the current era is different, just in terms of K songs, there is a variety of entertainment.
In addition to the mobile KTV singing bars that can be seen everywhere in various shopping malls, online K songs are also very popular nowadays. Especially since the "Black Swan Event", the market size of online entertainment has further expanded, and the data of Ai Media Consulting shows that mobile K songs have become the most used K song experience among netizens, accounting for 35.7%, while offline K songs are only 28.3%, which also includes mobile singing.
Moreover, Ai Media Consulting previously predicted that in 2021, the online K song will have a user scale of 510 million, and the penetration rate will be close to 49.7%, and by 2022, the online K song market will also expand to 17.58 billion yuan. The main thing is that now this industry has even begun to seize the offline K song market.
For example, a K song platform has cooperated with car brands and mobile phone brands, etc., and launched a car K song system and K song ear return and other functions. This is undoubtedly to make traditional KTV more "difficult to live".
In general, the entire market is so large, the scale of the traditional KTV industry is gradually reduced, while other industries are constantly expanding, in the long run, the traditional KTV is facing the "demise" is not impossible. Therefore, the entire industry has encountered a "crisis".
To solve this problem, transformation may be the only way out, but how to transform and whether it can be welcomed by the market is another problem that needs to be solved. I don't know what everyone thinks? What kind of KTV do you think is more popular with you? Feel free to leave a message in the comments section.