The outbreak of covid-19 since December 2019, as a short-term accelerator, has helped web celebrity economic e-commerce live broadcast industry enter the public eye. This paper first takes the supply and demand theory framework as the underlying logic to discuss the current situation. From the perspective of policy support, economic support, social development and technological progress, this essay expounds the content of demand side. On the supply side, the historical evolution of web celebrity economic live broadcast industry is detailed. In addition, the author analyzes the industrial chain of the industry at length, and calculates the benefit distribution mechanism of different platforms. Finally, based on the above analysis, this article predicts the future development trend of this industry and puts forward possible risk factors, hoping to come up with feasible suggestions for the development of web celebrity live e-commerce economy.