If China's Spring Festival Gala represents the nation's annual cultural touchstone, then live-streaming e-commerce has become its most explosive business phenomenon. The potential collision of these two forces is generating significant buzz, as listed live-commerce company Yaowang Technology reportedly negotiates with state broadcaster CCTV to integrate shopping features into the gala's programming.
Industry sources suggest Yaowang's celebrity hosts like actor Jia Nailiang may conduct live sales from backstage during the Lunar New Year's Eve broadcast, with gala performers making guest appearances in shopping segments. While Yaowang confirmed only that "relevant discussions are ongoing," the mere rumor propelled its stock price to surge by the daily limit—demonstrating market enthusiasm for this unconventional partnership.
Prime-Time Commerce: Audience Bonanza or Reputation Risk?
The Spring Festival Gala's unparalleled viewership—regularly exceeding 700 million—presents an extraordinary opportunity for Yaowang to dominate China's cutthroat live commerce arena. Yet this potential windfall comes with substantial hazards for both parties.
For CCTV, introducing commercial elements into its most prestigious cultural program risks alienating audiences already critical of the gala's perceived declining quality. Yaowang's own credibility challenges compound these concerns: The company previously faced public censure after one of its top influencers promoted counterfeit goods, drawing criticism from state media. Any product disputes during the gala could permanently damage both brands' standing with younger viewers.
Yaowang's Strategic Dilemma: Celebrity Hype vs. Sustainable Growth
As one of few multi-platform live commerce operators spanning Douyin (China's TikTok), Kuaishou, and Taobao, Yaowang pioneered celebrity-driven sales by recruiting stars like Zhang Bozhi. Its innovative formats, including dance-party themed broadcasts, once made waves across social commerce.
However, CEO Xie Rudong's internal memo revealed systemic issues: Over 80 underutilized hosts functioning merely as "background atmosphere," extravagant set designs costing hundreds of thousands per show, and fading returns from celebrity partnerships after their debut broadcasts. These problems highlight the unsustainable nature of Yaowang's growth model despite its "first listed live-commerce firm" branding.
Spring Festival Gamble: Turning Point or Downward Spiral?
The gala partnership represents Yaowang's high-risk attempt to reinvent itself. Success could cement its industry leadership through unprecedented exposure, while failure might amplify existing criticisms about commercial excess and quality control.
China's live commerce sector has entered a maturation phase where reckless expansion gives way to operational refinement. For Yaowang to truly justify its valuation, it must transition from celebrity spectacles to sustainable practices—prioritizing product authenticity, user experience, and content value over viral gimmicks.
This Spring Festival experiment will test whether live commerce can harmonize with cultural institutions without compromising either's integrity. The outcome may redefine boundaries between entertainment, commerce, and public broadcasting in China's digital economy.