China's live-streaming sensation fueled an unprecedented boom since 2016 for some Chinese social media platforms, turning young millennials into millionaires by broadcasting their daily lives, while helping companies like YY, Huya, Momo and Bilibili cash in billions of dollars.
That party appears to be coming to an end.
"I used to spend one or two hours every day watching people live streaming," said 33-year old Zeng Hu, a project manager for an asset management company based in Jinan, China. "But now, I rarely watch them anymore."
The reason for his changing viewing habits: Short videos are taking China by storm.
"On a weekday, I would often spend two to three hours watching those 15-second short videos. Over the weekend, I can watch up to five hours a day," Zeng told CNBC in a phone interview conducted in Mandarin.
He is not the only one who has been spending hours on short video apps. His viewing habits are shared by millions in China today.