Can China's Nightlife Business Bounce Back After Shutdown?

  • 📰 billboard
  • ⏱ Reading Time:
  • 84 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 63%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

With the club world at a standstill due to the COVID19Pandemic, insiders predict many venues could close for good

When the first SPACE nightclub opened in Chengdu, in Sichuan province, in 2015, it was unlike anything else in China at the time. “People had never seen a club like that,” says Leon Chen Zhao, program director of YES! FM 96.3 Chengdu. Massive clubs dedicated to dance music — and dancing — had not existed before then in China. SPACE was “2,500 people together, 60-foot ceilings, LED screens everywhere.

Although China lumps bars, clubs and all other nightlife or live-music venues into one statistic, the rate of growth from 2010 through 2018 was still staggering. In 2010 there were 28,200 such establishments across the country, and by 2018 the number had more than doubled, to 64,500, according to Zhiyan Consulting, a research firm based in Beijing. During that same time period, the dance-club industry alone mushroomed from $1.4 billion to $7.2 billion .

Ironically, just as China was catching EDM fever around 2015, Las Vegas clubs were starting to struggle to be profitable, as fees for the top echelon of global DJs continued an inexorable rise and hotel operators opened more dance clubs, says Matthew Minichino, corporate vp nightlife and daylife at Hard Rock International. “The market became completely oversaturated,” he says.

Jacky Qing, founder/CEO of Club Galame in Foshan, a city of 7.2 million people just west of Guangzhou, declines to divulge the booking fees his operation paid for top-shelf DJs, but he does confirm that the club operated at a loss on those nights when it booked marquee names. Despite that, however, Qing says Club Galame — a 25,000-square-foot space with a 2,000-person capacity — was successful and the economics were attractive. In 2019, he says profits were around $422,000 a month .

On Douyin, users watching a live performance can give “Dou Bi,” a virtual currency available for purchase to show their approval. Those credits can then be redeemed for cash by the club or the performer. Sets are held from the DJ’s house in most cases, and a club’s social media reach draws significant audiences.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Dear billboard thank you for being for us I can’t wait to drop a song that would shake the world in few days 💪❤️

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 112. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

As China factories reopen, supply chains still mired in uncertainty - Business InsiderTech companies have seen their production facilities in China reopen, but the persistence of broader supply chain uncertainty will slow their return. Oh I see, we’re gonna start calling them “China Factories” just because they originated in China? racist doublestandard
Source: BusinessInsider - 🏆 729. / 51 Read more »