According to the 2022 China Fitness Industry Data Report, China’s fitness population reached 374 million, ranking first in the world. Driven by the national fitness policy and internet technology, the sports economy has unleashed strong innovative vitality. A number of internet-based sports and fitness platforms have emerged on the market, such as Apple’s fitness training app, Gudong, Keep, and Yuepaquan. According to public data compiled by the People’s Data Research Institute, from January to July 2022, the monthly active users of the sports and fitness app exceeded 50 million.
Recently, Keep was listed on the Hong Kong Stock Exchange and became the “first stock of sports technology” in the Hong Kong stock market. According to the prospectus, the revenue of the Keep platform in the first quarter of 2023 was 447 million yuan, an increase of 7.2% year-on-year. Keep stated that this is mainly due to the increase in revenue from virtual sports events on the platform. Keep’s current revenue mainly depends on the company’s Private label products and members’ subscription to online paid content.
In addition to Keep, the core product of China’s sports data platform Yuepaquan, Yuepaquan APP, focuses on the running community, with a user base of over 148 million, daily activity of 2.2 million, and a registered number of 29000 running groups. The “2022 Research Report on Mass Fitness Behavior and Consumption” released by the China Sports Goods Industry Federation shows that running is the sport with the highest participation, accounting for 61.0%.
Post time: Jul-15-2023