Popular online band Modern Brothers members perform the song Imagination. [Photo provided to chinadaily.com.cn]

Li Ting, the chief operation officer of YY, says that the live streaming industry will reach a market value up to 100 billion yuan ($14.8 billion) this year.

Although the industry has seen a slowdown recently due to competition from short videos, Li Ting says the videos will help boost the development of live streaming.

YY's chairman and acting CEO Li Xueling says the public wil raise the recognition of star streamers and ultimately accept them as entertainers like those emerging from traditional film and TV.

Li Xueling also adds the next revolution for internet companies will be driven by artificial intelligence, which he believes will reduce labor and shift the focus to creativity.