The Chinese podcasting app Lizhi faced the same puzzle four years ago that many tech platforms face today as the world spends more time online during the coronavirus outbreak — how do you translate a huge audience into profit?
Marco Lai, the chief executive of the Nasdaq-listed company, said he had thought about an advertising-based model and a subscription model to make money from Lizhi’s 52m listeners.
But in the end, he was inspired by the Japanese girl group AKB48. “Their fans each bought up hundreds of their CDs for the chance to get into their shows,” he said.
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