Immortal fight, Weibo suffered?
Editor’s note: This article “cap situation” from the public micro-channel number (ID: mvlegend) , Author: Roland Process editing: Xiaobai.
I. Rethinking the “Head War”
In the early morning of May 8, 2018, a screenshot of Zhang Yiming and Ma Huateng “tearing each other” in the circle of friends quickly swiped the screen.
Zhang Yiming accused Tencent of killing and plagiarizing Douyin, while Ma Huateng believed that Zhang Yiming was slanderous, and the two had a strong gunpowder smell.
Feng Yunjun, for the time being, no matter who the two big brothers make sense, at least from the competition level, the headlines have indeed caused a lot of pressure on Tencent in recent years.
Still speaking with data. According to QuestMobile’s report, Tencent’s apps in the previous two years still accounted for more than 50% of the total domestic mobile Internet use time. By September 2019, their share will have fallen to 42%, and the headline system has grown rapidly from 4%. To 13%.
The Baidu system hasn’t changed much. The Ali system has increased slightly. The biggest increase is the headline system. The user duration obtained by the headline system is basically equal to the user duration lost by Tencent.
In November 2019, CNBC in the United States cited a report from R3 Consulting, stating that Byte Beat beat Tencent and Baidu in the first half of 2019, becoming China’s second largest digital advertiser after Alibaba.
The headlines are pressing on Tencent step by step, making the people eating melon very excited, after all, there is a show to watch. And some media have also climaxed. Repeated hype on topics related to the “head war” is really listening to the wind is rain.
I know that some big Vs even say that Tencent ’s biggest opponent is Tencent, and the answer is also officially included.
Feng Yunjun can’t agree with the above views. At least in their current weight, the intensity of the “head war” is seriously overestimated: the two businesses have overlaps, but more differences.
1. Unshakable social attributes
According to the real-time rankings of the Analysys Qianfan Index, WeChat and QQ are the two highest monthly live index among all domestic apps. The top rankings in the headline series are Douyin (No. 6), Today’s Headline (No. 17), Watermelon Video (No. 30), and Volcano Video (No. 31).
In other words, Tencent ’s traffic is based on WeChat and QQ. It is a social application based on a strong relationship chain. This is the lowest level product of Tencent.
The basic traffic of Byte Beat comes from short videos and today’s headlines-you flick the vibrato and today’s headlines because the content above is attractive, not because you have friends and family on it.
Short videos are used to entertain and kill time. Today ’s headlines areFor viewing information, WeChat and QQ are used to talk and chat with people. The logic of the three is not consistent.
Although Douyin and today ’s headlines have interactive functions, their social attributes are very weak.
In fact, in the headline department, there is an application that is closer to WeChat and QQ, which is a flying chat that mainly features “instant messaging + interest socializing”.
And another flash featuring “Short Video + Social”.
Both apps were launched in 2019 by Toutiao, but so far they haven’t turned up any waves.
2. Different profit models and monetization logic
In addition to the different basic traffic and underlying products, the profit model and monetization logic of Toutiao are also different from those of Tencent.
Tencent’s business model is relatively clear to everyone. It is to build a traffic pool through WeChat and QQ, and then import it into games and other products for monetization.
According to the financial report for the third quarter of 2019, Tencent’s revenue is mainly divided into three blocks: value-added services (VAS), fintech and corporate services, and digital advertising.
The revenue from value-added services accounted for 52%, followed by fintech and corporate services, which accounted for 28%. Digital advertising revenue accounts for 19%, which is not very high.
Value-added services include online games and digital content services (such as live, video, music and literature subscriptions). The two accounted for half of the total value-added service revenue.
Financial technology and enterprise services refer to Tencent’s payment and Tencent cloud services, respectively. This is a new business growth point that Tencent has vigorously promoted in recent years, and has now grown to the second largest business after value-added services.
In general, Tencent’s revenue structure is very balanced. It does not say that it particularly relies on a certain business. There are many monetization channels, both To C and To B, covering various fields such as games, payments, cloud services, and advertising. .
Most of the revenue generated by bytebeat is advertising, which depends more on advertising than Tencent. The headline department also seems to be aware of the problem of a single income structure, so in the past few years, it has tried a lot of monetization channels other than advertising, but it has not seen any obvious results so far.
Games have long been Tencent’s core business and “cash cows”. In 2018, Tencent’s total online game revenue exceeded 100 billion yuan.
