Zhang Chaoyang, chairman and CEO of Sohu Inc, delivers the opening speech during the Sohu TV 2018 spring/summer promotion conference in Beijing on May 23. [Photo provided to chinadaily.com.cn]

Chinese web streaming company Sohu TV launched its 2018 spring/summer promotional conference in Beijing on May 23, with a main focus on strengthening its own video platform by self-producing online dramas and variety shows, introducing We media (participatory media), and upgrading livestreaming platforms.

“Innovation and diversity are the gateway to the future of the Chinese video market,” said Zhang Chaoyang, better known as Charles Zhang, chairman and CEO of Sohu Inc.

In the eyes of the 54-year-old businessman, the creation of art should not be monopolized by one company, and video-oriented Chinese enterprises will coexist with one another in the future. For Sohu TV, self-produced dramas and shows will play a bigger role in the company’s future growth.

It has been a common occurrence in China for reputable entertainment conglomerates – including iQiyi.com, Tencent Video and Baidu Video -- to buy megahit dramas at sky-high prices, such as Nirvana in Fire, Eternal Love and The First Half of My Life. The trend reflects fierce competition to gain a larger user base and expand within the market.

But Sohu TV has blazed a new trail by paying more attention to self-produced online dramas and variety shows.

“Unlike competition among social media platforms, where winners take all, the Chinese video market has become more mature these days, as domestic users pay more attention to content than the celebrity effect,” said the CEO.

He noted there have been numerous examples of where an all-star cast, superior visual effects and popular media product – such as a novel, video game, online literature or pop song adapted for TV or film – did not result in a phenomenal drama.