How Does the Chinese Talent Show “The Voice of China” Make Money

The Voice of China differs from other variety shows in one key way: the separation of production and broadcasting. The production company bears the制作成本 and must achieve guaranteed viewership ratings to secure returns. For example, The Voice of China’s performance contract required a national rating floor of 2%. The payoff was enormous: annual title sponsorship fees rose by 100 million RMB each year, and 15-second spoken ad slots jumped from 100,000 RMB to 10.7 million RMB. Meanwhile, production costs totaled 80 million RMB over four months annually.

Under this performance-based valuation model, The Voice of China produced highly compelling content. Over the past decade-plus, it has generated roughly 26 billion RMB in revenue (2.8 billion RMB from 2015–2017 alone, with the stock’s recent decline wiping out an estimated 26 billion RMB).

The Voice of China After 12 Years: Just How Much Money Did It Make?