Great app WeChatoperated by Video games And Social Media giant Tencent Holdingscontinues to perform a delicate balancing act between its role as the main source of income for the ShenzhenThe company is based in China and an important platform for public services in mainland China, analysts say.
With more than 1.3 billion monthly active users (MAUs), the 13-year-old WeChat – marketed as Weixin in mainland China – is now a well-established online tool for everyday life in the world’s second-largest economy. From messaging and video conferencing to Mobile paymentsShopping and Mobile gamingWeChat is a ubiquitous platform whose technical updates and policy changes are closely watched by the country’s public and private sectors.
“As a super app, the challenge for WeChat is to maintain its dual role as a public service platform and a company that supports Tencent’s commercial value,” said Zhang Yi, founder and chief analyst at market consultancy iiMedia. “For its future development, WeChat needs to place more emphasis on user-friendliness and service diversity.”
02:26
What makes Tencent such a technology giant?
What makes Tencent such a technology giant?
“There is no equivalent to WeChat outside of China,” Musk said at the time. According to a report in the South China Morning Post“In China, people practically live off WeChat. If we can replicate that with Twitter, we will have great success.”
“The key is to continuously increase user engagement and activity and ensure that users remain loyal to the platform to maintain its leading position in the highly competitive market,” said iiMedia’s Zhang.
Tencent’s Hong Kong-listed shares closed 0.49 percent higher at HK$370 on Friday.
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Musk announces plans to transform Twitter into a super app “X” similar to China’s WeChat
Musk announces plans to transform Twitter into a super app “X” similar to China’s WeChat
As a popular online platform, WeChat is also at the forefront for domestic Internet Industry in complying with the latest regulations and government-supported economic development programs.
WeChat has been at the forefront of China’s internet industry’s efforts to comply with the government’s latest regulations and economic initiatives. Photo: Shutterstock
As Tencent’s main business, WeChat brings in “high-value” revenue streams through advertising and service fees from Minigames And electronic commerce revenue, the company said. WeChat’s ecosystem of Mini-Programs provides users with access to various services while also being an important channel for attracting advertisers to the platform.
According to data from QuestMobile, the mini-program platform WeChat recorded 930 million MAUs in June, surpassing prominent online competitors such as Alipay with 664 million users, the search platform baidu with 397 million users and Douyin with 235 million users.
WeChat has recently come into the spotlight due to a dispute over AppleAccording to a Bloomberg report last week, Apple increased pressure on Tencent and Douyin owner ByteDance to close loopholes in app payments for mini-games.
“Apple has raised the issue of commissions again because it feels threatened by the rapidly growing mini-game ecosystem,” said iiMedia’s Zhang.
Tencent said more than 240 WeChat mini-games generated quarterly revenue of 10 million yuan ($1.4 million). The number of WeChat mini-game users has reached 1 billion, with 500 million MAUs, about six years after the service was launched, the company said in July.
Zhang said Apple and WeChat “need to find a balance” to resolve their dispute over “cooperation opportunities” between their app platforms.
