Relying on \”Flow Forest\” built by WeChat and QQ two social software, Tencent builds a huge commercial ecology. Although the game has always been Tencent’s \”cash cow\”, the most important variable is still, whether it can maintain social empire, especially regulatory, indicating the \”anti-monopoly\” attitude of the platform economy.
Editor | Xing Wei
After the Hong Kong stocks closed on November 12, the Goose Factory announced the 2020 three quarter newspapers.
The king glory and game sector are still Tencent’s \”cash cows\”. The game sector sucks 450 million yuan per day in the third quarter, and Tencent’s income accounts for more than 30% of the total revenue. The average day of the king’s glory has exceeded 100 million.
Tencent has always been known for the deferred income, slowly releases performance, and with Tencent investment companies continue to be listed, net profit will be better.
However, it is the challenge of Tencent, \”traffic\”, will have a challenge after supervision into the \”anti-monopoly\” era, this article is in the third quarter as a group, talk about Tencent’s hi and worry.
\”Harbor\” enterprises encountered anti-monopoly
Tencent’s net profit relied on its investment map.
The third quarterly report shows that Tencent’s single-season revenue and net profit exceeded the market expectations, including 125.45 billion yuan, a year-on-year increase of 29%, the return of net profit of 38.54 billion yuan, year-on-year increase 89 %.
The net profit of the three quarter reports was contributed to the third quarter.
Tencent is the first major institution of the US group, and the US Mission has increased from 171.9 yuan / share in June 30 to 241.8 yuan / shares at closed on September 30, and 41%. Tencent Annual This data probability will be better, and the quick hand is listed in the fourth quarter. Second, it is a lot of spells to achieve profitable market value for the first time in the third quarter.
Snowball big V @Takun has done a subtle metaphor: Tencent is a sea power empire, WeChat is a traffic ocean, and the investment company is free port, not swallowed. Harbor, with WeChat to support the goose factory ecological enterprises.
WeChat’s traffic is ultimately distributed to Tencent’s investment, such as the opening of WeChat 9-pace to Tencent, the United States and Jingdong, etc. And island chain. From the three quarter report, Tencent’s \”buy\” strategy has gone to the harvest season, the US Mission, Jingdong, and many people who have become 100 billion dollars.
TencentI have made a lot of investment layout by the WeChat ecology and sufficient cash. Tencent itself is also an empire built in WeChat. Investors tend to overestimate games, and underestimate the possibility of WeChat ecology.
Tencent’s two social infrastructure WeChat and QQ are super-traffic manufacturing machines, relying on huge user base and ultra high viscosity generating wide area flow and advertising income. In the third quarter of 2020, social advertising revenue was 17.752 billion yuan, accounting for 14.2% of the entire company’s revenue.
Tencent’s mobile game business also rely on WeChat and QQ social relational chain and social communication. Tencent’s cash cow game king glory and WeChat and QQ have been intensive, there is a strong social attribute. In the third quarter, Tencent’s mobile game income is 39.73 billion yuan, accounting for 30%.
Due to the merger of financial technology and corporate services in the financial report, the individual income of financial technology is unable to learn. Considering that there is still micro-loan in WeChat, wealth management and micro-insurance can generate business income, the entire WeChat and QQ produce more than 70% of income for Tencent.
So, in this quarter, Tencent is still a social company, not a game company. Tencent’s most important variable is still, whether you can maintain a social empire. The most important indicator of Tencent Finance is always the largest social communication pool – WeChat and QQ business data.
The number of mobile QQ monthly living accounts is still a trend that will continue to fall. WeChat and WeChat’s moon can still rise, but the increase is very weak, an increase of 6.7 million compared to the second quarter, and an increase of 0.6% from the quarter. This is also very easy to understand, because the data published by China Internet Network Information Center showed that the number of Chinese netizens was 940 million.
This flow of traffic is still super high viscosity, but the increase is weak and has near the ceiling.
Now \”traffic forest\” is probably faced with some uncertainty of the outside world, such as \”anti-monopoly\” swords of supervision.
November 10, the State Market Supervision Administration issued the \”Anti-monopoly Guide on the Platform Economy (Draft for Comment)\”, to increase investigations and supervision of Internet giants suspected of monopoly.
Tencent responded to the investor call of the three quarterly report, working with supervision to ensure compliance with document requirements. The \”anti-monopoly\” impact on various business sectors, Tencent believes that or more focuses on the trading platform, for digital entertainment content such as games, video, may not focus. [123
from the PC era Data will be very embarrassed.
Tencent has also been one of the four major portals. The decline in Tencent media advertising revenue is the slow bid in that era in the past.
This figure is 4.1 billion in the third quarter of 2017. This figure is 5.1 billion in the third quarter of 2018. By 2019, in the same period of 2020, it fell to 3.7 billion, 3.599 billion. Yuan. Maintaining this number or relying on Tencent video, and long video is still a burning business, Tencent put this expenditure \”贼\” in two sections of value-added services and online advertising in the earning report, and cannot see losses on the financial report. Amount.
Compared with this revenue, it is social and other advertising income growth.
In the financial report, the epidemic from education, Internet services and e-commerce platforms and other industries are rapidly increased. The leopard has been mentioned in the \”Summer of a Crazy Burning\”, and the online education company online education has exceeded 1 billion yuan. The migration of the advertiser is mainly from the rise of targeted advertising. After all, there is no advertising, willing to put unreasonable advertisements.
The advantage of WeChat advertisements is not only in the video advertisement of a friend circle, but the greater advantage is that the WeChat applet can be jumped, and the advertiser will get the advertiser. Private domain traffic.
This introduces another topic we have to talk, is based on the rise of social e-commerce based on WeChat applet.
In the mobile Internet era, the \”Search\” is no longer a necessary action for online transactions. In the era of information and overcapacity, it is a new form that is greater than seeking, sharing, and recommended to become commodity online transactions. Of course, this action switch is established in the infrastructure: mobile payment, developed logistics performance and WeChat applet.
In general, the majority of users of low-citial cities prefer to use voice to replace text, prefer video instead of graphics, and prefer to share rather than search. WeChat’s product manager may not be aware of this difference, but some smart people have discovered this wealthy treasure, so they have social e-commerce and community e-commerce.
The epidemic accelerated this trend, and many lines of department stores and shopping centers began to broadcast live in a small program, and the applets came to the home to pull the line.
WeChat is a private domain social platform, and the social relational chain is based on the agreement of both parties, very \u0026 # 34; Private \u0026 # 34 ;. Adding any implantable advertisements in this territory may cause users to disgust.
WeChat has always appeared in the image of \”restraint\” in the media evaluation, it is here. However, the emergence of social e-commerce makes WeChat’s ecology more naturally \”commercialization\”, Tencent suddenly realized that as long as the large number of transaction data in WeChat and applets, it will naturally provide better results to these merchants. Orien advertising.
Directly appeared in Tencent’s interim report \”WeChat ecology to redefine China’s online advertisement, so that advertisers can establish relationships with users in their private domain (public number and applet), making it put on It can effectively maintain long-term and loyal customer relationships, not just a single transaction, advertising.
The data published by Tencent is from January to August, and the small program commodity transaction GMV increased by 115% year-on-year, and the brand merchant’s self-operated GMV increased by 210% year-on-year.
There will be an advertisement to put it in your own position.
This is also Lin Wei, which Tencent is responsible for advertising and smart retail business, entered Tencent’s highest management decision-making layer in October to Tencent’s \”General Office\”.
With the transaction, it is natural to mention WeChat payment and Tencent’s financial science map. In the third quarter, the total payment amount of commercial payment increased by more than 30% year-on-year, which also benefited from the large-scale growth of small program commodity transactions.
However, WeChat is getting more and more serious, and it is definitely a good thing for revenue, but it may not be friendly for users.
More to note that from the rise of social e-commerce, WeChat as a social software that is active for almost all nationals. It will even spontaneously evolve and iterate. This initiative is not necessarily in Tencent. Hand.
Tencent wants to become a content of the content, not the game giant.
In the field of digital content, Tencent wanted to become a Roman Empire. But it is more like ancient Greece, composed of federal.
Reading (Network Literature), Tencent Music (Music), Tencent Video (Table Drama) and Tencent Games are the four city-states of this federal. Adapted the novel of the reading into Tencent video and Tencent’s self-developed game, or adapted the game into a web drama, which is the wild look of this cultural federal advanced. The federal ecology is not balanced, and Tencent’s total collection is 7.58 billion yuan, and online game revenue is as high as 41.422 billion yuan.
Paying users are the residents expected by the Entertainment Empire, compared with the media advertising income contributed to the free content, the basis of this entertainment empire is the basis of this entertainment empire.
WeChat and QQ are Tencent’s first-level traffic manufacturing machine and infrastructure, which is the foundation of all Tencent business.. Free users are no longer growing, but the payable users are increasing. The number of charge value-added accounts increased by 25% year-on-year to 233 million. The corresponding value-added service revenue (excluding games) is 28.38 billion yuan, deducting the live income of Rating 2.657 billion yuan, and the average of 120 yuan per account will contribute 120 yuan.
Social network value-added service revenue is mainly from Tencent Video and Tencent’s Music Content Service Membership. The number of video service will increase by 20% to 120 billion year-on-year; online music subscription payment users faster, year-on-year growth 46 % Is nearly 52 million.
Considering the single-season price of Tencent video members at 53 yuan to 68 yuan, QQ music’s single season price is 45 yuan, so the average 120 yuan this number is not low, if it is increased ARPU (per user Average income will be slightly difficult.
Compared with the top two, it is obviously more profitable to \”addictive\” online games.
The online game revenue in the third quarter is 41.42 billion yuan, an increase of 45% year-on-year. \”King’s glory\” and \”Peace Elite\” are old-fashioned mobile games that are still without a breath, and they have been acting as Tencent’s cash cattle business. In particular, the former contributed $ 240 million in September 2020. Mobile Tour Overseas Income TOP1 \”Pubg Mobile\” in the top ten in the 71 national ranking game list.
In accuurity, Tencent is a mobile game company that rely on WeChat ecology, with mobile income of 39.73 billion yuan.
Tencent has received the 24 game version this year, there is no end tour. In Tencent’s recent game product reserves, only \”Code: SYN\” is a PC end tour. Tencent in the financial report claimed that \”we actively look at the opportunity of personal computer-end games.\” Sure enough, I still have a company, don’t look at how TA said, you have to see if it is done.
However, Tencent games still can’t talk about \”rule\”. Tencent’s ranking has a significant lagging behind the mobile game. In the handpiece of the mobile game, Tencent will not talk about the monopoly. Top30 has only one game is independently released, and the quantity of Fun Plus and Lily It is higher than Tencent.
The forebel said that Tencent’s digital content is far from being an empire, just a loose federal. The well-known novel IP \”Dou Luo\” was adapted to the animation to play on Tencent video, but his mobile game was handed over to an online game company for non-Tengxun. Tencent has been in digital entertainment for so many years, we still have not seen the IP industry chain.