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PANews reported that Douyin’s usage time exceeded WeChat’s for the first time, with ByteDance-affiliated apps’ share of usage time reaching 40.9%, while Hongguo’s daily active users surpassed 168000000。
Li Liang, vice president of Douyin Group, said that Tencent's short dramas and short videos are growing far faster than Douyin and Hongguo, and stated that competition in the relevant market is intense and the market structure is changing rapidly.
Hongguo Short Drama officially stated that circulating claims that annual revenue was nearing 40000000000 yuan or reached 42000000000 to 45000000000 yuan are false, adding that most revenue is used for creator revenue sharing, copyright guarantees, and content support.
PANews, citing a report by Jiemian News, said that Tencent’s Green Bubble short-drama mini program had, as of August monthly active users of 143000000，October weekly active users during its first week of 89680000, up from September in the first week, an increase of 44.1%。
According to IT reports by IT Home, Doubao’s head of public relations, Liu Xing, said that the data claiming “more than half of China’s computing power is used to produce escapist dramas” are unreliable; approximately 10%of ByteDance’s total computing power is used for video generation model training and inference.
Goldman Sachs report says multimodal AI is significantly reducing Chinese entertainment content production costs and increasing supply, while the value of traditional production functions may come under pressure.