Payoneer Supports Triple-Digit Growth for eLearning, Social Media and Interactive Entertainment

NEW YORK–()–Payoneer, the digital payment platform empowering businesses around the world to grow globally, today shared data that points to enormous growth in the areas of eLearning, social media and livestreaming, interactive entertainment, and digital royalties. The data shows how the COVID-19 pandemic is shaping consumer behavior, perhaps permanently, and how these businesses are adapting and evolving to meet demand. Amid this increase in demand, Payoneer is adding new enterprise and small and medium-sized business (SMB) clients to its roster, supporting them in driving expansion via its secure global digital ecosystem.

  • Social Media Livestreaming Peaks as People Seek out Community Engagement

    China is leading the market globally in terms of livestreaming (there are 456 million viewers in China, with 70% under the age of 30), but the rest of the world is likely to follow suit in the coming months. For now, within the U.S. and Europe, the most dominant form of livestreaming is gaming. While the market saw 236%* YoY growth globally, there was notable growth in Europe (395% YoY) and North America (313% YoY) during the first few months of the pandemic in those regions.

    Looking ahead, the industry is anticipated to reach $526 million in 2020. Further, a recent Payoneer survey of live streamers from around the world found that about half have been earning from live streaming platforms for less than a year, suggesting that the pandemic presented the option to earn more from the activity. 62% of these survey respondents reported that they expect their earnings to continue to grow even after the pandemic is under control. Payoneer has added platforms like Bigo and Beeshow to its growing list of clients in the social media livestreaming space.

In China, eLearning is largely app-based, and content is predominantly conversation based, with students phoning ‘online’ teachers (known as Free Talk) to help correct their grammar and pronunciation, rather than learning something class-based.

  • Interactive Entertainment and Digital Royalties See Tremendous Growth Globally

    Similarly, interactive entertainment and digital royalties companies are seeing growth as more people stay at home, with interactive entertainment increasing 463% YoY globally, and digital royalties seeing 228% YoY growth globally. Payoneer works with some of the leading businesses like Gameflip and G2A in the interactive entertainment space and Believe Digital and Downtown Music Publishing in the digital royalties space.

“As we’re seeing spikes across many of these industries, digital platforms are experiencing sustained growth during a turbulent time, while also creating new opportunities for steady income through what may have otherwise been a ‘side hustle,’” said Scott Galit, Payoneer CEO. “While this connected and borderless digital economy also opens up entrepreneurs of all sizes to unique challenges, leveraging a strong ecosystem like Payoneer helps reduce any potential risk that comes along with global payments – and makes it easier for businesses, artists, writers, teachers, musicians and more to get paid quickly.”

* All data reflects June 2020.

About Payoneer

Payoneer’s mission is to empower businesses to go beyond – beyond borders, limits and expectations. In today’s digital world, Payoneer enables any business of any size from anywhere to access new economic opportunities by making it possible to transact as easily globally as they do locally.

Payoneer’s digital platform streamlines global commerce for millions of small businesses, marketplaces and enterprises from 200 countries and territories.  Leveraging its robust technology, compliance, operations and banking infrastructure, Payoneer delivers a suite of services that includes cross-border payments, working capital, tax solutions, merchant services and risk management.  Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google and Upwork, Payoneer makes global commerce easy and secure.  Founded in 2005, Payoneer is profitable and has a team based all around the world.

Payoneer – one world, one platform, endless opportunity.

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