12/30/2023 0 Comments Wechat video conferenceThe ad load on Channels remains "a tiny fraction" of that found on rival short video platforms, but Tencent will "progressively enhance our ad load and that translates mechanically into more revenue", James Mitchell, Tencent's chief strategy officer, said in the earnings call. In the second quarter, time spent on WeChat Channels - the name of the short video service that competes with ByteDance's Douyin, the Chinese version of TikTok - almost doubled year on year, aided by double-digit growth in daily active users, Tencent president Martin Lau Chi-ping, said in a conference call with analysts on Wednesday.Īs Tencent has successfully attracted users to spend more time on short videos, the social media giant has sought to better monetise that attention.Ĭhannels, internally referred to as Video Accounts, contributed 3 billion yuan (US$411.5 million) in advertising revenue in the second quarter, making it a main driver of its 34 per cent ad sales growth. ![]() Tencent did not provide a breakdown of domestic and overseas users, although it is widely estimated that the vast majority of users are in China.ĭo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Tencent said on Wednesday that monthly active users of WeChat and Weixin - the terms the company uses to refer to accounts outside and inside mainland China, respectively - reached 1.327 billion by the end of June, up from 1.319 billion three months earlier. The social media app, which started as an instant messaging tool in 2011, has gradually become an all-in-one platform for Chinese smartphone users. ![]() China's super app WeChat continues to get bigger and more profitable as its TikTok-like short video function generates strong advertising revenue and e-commerce sales, according to the latest data released by the app's owner Tencent Holdings.
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