On March 20, Beijing time, Kuaishou released its fourth quarter and full-year financial report for 2023.
data shows that the total revenue for the year was 113.47 billion yuan, a year-on-year increase of 20.5%. In terms of profits, the adjusted net profit for the year and the profit for the period both turned losses into profits. Among them, the adjusted net profit exceeded 10 billion for the first time and reached 10.27 billion yuan. Compared with other industries that are still recovering from losses, live broadcasting has no "bad students", proving that the latter is still a "land of milk and honey."
is also exploring the live broadcast track. Each giant has its own unique "value formula". For example, Kuaishou's "value formula" is nothing more than online marketing (i.e. commercialization), live broadcast, as well as e-commerce, games, local Other businesses including life. Among them, live streaming is the basis for driving all businesses.
As of the fourth quarter, Kuaishou’s live broadcast business has achieved revenue of 10.05 billion yuan, and has maintained relatively stable growth in the past few quarters. It should be noted that the financial report only shows the reward income from live broadcasts, ranging from e-commerce and local life to small ones such as Kuaipin and Kuaishuohuang. This part of the income is usually included in other business sectors, and does not fully show the income from live broadcasts. value.
Based on the financial reports of the past period, we can see that as long as the content ecology represented by live broadcast remains prosperous, the other businesses can maintain high growth.
has expanded to the entire industry, and embracing live broadcasting is becoming the consensus of giants, such as Meituan Live Broadcasting + Local Life, Boss Direct Recruitment’s attempt in the field of live broadcasting, etc. In 2024 and the foreseeable future, live broadcasting will undoubtedly still be a good business.
content is "infrastructure within infrastructure." The prosperity of
content ecology depends on three points. First, whether the content supply is abundant, second, whether content consumption is strong, and third, whether the commercial transformation is efficient. The platform needs to allow the balanced development of the three at the same time.
According to the above logic, we can further observe the situation of Kuaishou live broadcast content ecology. From the
data dimension, the quantity and quality of Kuaishou’s live broadcast content supply have maintained growth. Last year, Kuaishou’s live broadcast categories exceeded 425. According to the list of Kuaishou's top 100 anchors, we can see that it covers the most representative 100+ anchors on the site, covering more than ten subdivided live broadcast categories, with a variety of contents and forms.
's content ecological supply is fully reflected in the wide range of anchor identities and backgrounds and the diversification of content forms.
Traditional drama has a high threshold for appreciation. Inheriting, carrying forward, and leaving the theater have long troubled practitioners, and "Duan Ding Na", who was born in a Liyuan family, is no exception. As a Henan Opera actor in a local theater troupe, she once performed a traditional "crying scene" in the Henan Opera "Qingfeng Pavilion" in the live broadcast room. She was so involved in the performance that she burst into tears. When she received a comment, she was greatly encouraged.
"I am 19 years old this year. Although I can't understand it, I think your performance touches me very much. I watch your performance in your live broadcast room every day, and now I also like opera." So, Duan Duanna tried Henan Opera Teaching, and trying popular adaptations - she accidentally completed a brand new content supply.
The greater structural changes come from the exploration of new models such as virtual human live broadcasts brought about by AI technology.
Since last year, Kuaishou (Kuaishou Zhibo), Douyin (Chinese version of "The Origin of Fire"), and Baidu (Huiboxing) have all launched their own digital human products. In addition to the "instrumental" evaluation of whether they are useful or not, What’s more important is the practical value of “how to use”.
At present, most virtual anchors focus on simple oral broadcasts and nightclub delivery. Some new explorations are also deeply changing the form of live broadcast content.
"Li Haoya" team noticed, "Did everyone really get a feeling of happiness and companionship in your live broadcast room?" So the team focused on operations and almost gave up the most direct path to monetization - —Bring goods.
Borrowing AI technology, Li Haoya can sing, dance, tell stories, and created an egg-laying skill with a "meme" quality. In addition, using the continuous microphone method to interact with the anchors on the site presents a more three-dimensional and intuitive IP image to users. Bring immersive emotional value with the help of high-quality content and reasonable operations. The Li Haoya team believes that incubating a content IP is a promising thing, and the live broadcast room provides the best incubation scenario.
In addition to virtual human live broadcast, Kuaishou Live is also exploring new paths in more vertical categories. Fu Chi, head of Kuaishou Live Broadcasting, has previously said that in the past year, Kuaishou Live Broadcasting has further enhanced the certainty of long-term operations for guilds and anchors, provided refined operations through deep regional development, and continuously promoted new live broadcast categories such as voice, palace, and virtual humans. Prosper and develop, and realize the integrated development of the large-scale entertainment live broadcast ecosystem of games and shows.
The benefits brought by these explorations are obvious.
As of last year, the average daily live broadcast time of Kuaishou anchors has increased by nearly 30% year-on-year, and the number of high-quality anchors has increased by more than 100 times. The diversification of content supply in terms of scope and form can cover more user needs, thereby promoting the prosperity of the content consumption side.
For example, in the fourth quarter of last year, the supply and scale of Kuaishou live broadcast guilds continued to increase. The number of cooperative guilds exceeded 1,300, the number of guild anchors increased by 40%, and the average daily live broadcast time of anchors increased by more than 30% year-on-year. In terms of content and form, the number of traditional cultural anchors including opera, folk music, and intangible cultural heritage exceeds 190,000.
The content supply side has grown and the format has expanded to cover more content consumption needs, thus providing a "mass base" for the expansion of a new business ecology. In the fourth quarter of last year, Kuaishou’s monthly active users exceeded 700 million for the first time, which provided a huge user pool for some live streaming + businesses.
While content supply and consumption are increasing, Kuaishou's UGC community attributes are also changing the business form of live broadcasting itself. In the past, show live broadcasts had the clearest path to commercialization, with rewards becoming the platform’s most important source of income. With the rise of live streaming e-commerce, live streaming has seen more changing scenarios.
Business transformation has an explicit side, such as financial report data, and a hidden side, such as stimulating other businesses, such as live broadcasting and recruitment, blind dates, real estate, etc. to deeply integrate and explore new directions.
Live broadcast has become a "value base"
"A market of people and goods" is not a simple juxtaposition. There are people first, then goods, and people and goods gather to form a market. The Kuaishou founding team once mentioned that it is users who unlock e-commerce.
In fact, Kuaishou’s growth has largely benefited from the “overflow value” of live streaming. This overflow value has activated businesses such as recruitment, blind dates, automobiles, real estate, and even local life. Therefore, some people believe that live broadcast has become the "value base" of various industries.
"Yan Wei·Zhi Xiaoer", who has 13 years of blue-collar recruitment experience, has increased the breadth and depth of his business with the help of the Kuaishou platform. He has more than 4 million fans on the platform, which provides him with potential business breadth; and live broadcast provides more intuitive and high-frequency interaction, making it easier for Yan Wei to get closer to the hearts of users.
In the traditional recruitment market, it may be difficult for users to thank recruiters. However, through live broadcast + recruitment, fans even gave Yan Wei a plaque of "Worker's Mother" to him, and even asked her when she encountered doubts. Give it a voice.
In the past, the "standardization" of online recruitment products focused more on white-collar people. In the blue-collar market, users believe more in visible, tangible, and more intuitive presentations. To this end, at the end of last year, Kuaipin launched two cross-border special "job" broadcasts, inviting Second-hand Rose host Liang Long, talk show actors He Guangzhi and Zhao Xiaohui to serve as "Quaipin recommendation officers". The linkage of live broadcast + recruitment + IP provides a more scenario-based solution.
In the fourth quarter of last year, the average daily number of resume submissions in the quick recruitment business increased by more than 200% year-on-year, and the average daily number of delivery users increased by more than 100% year-on-year.
The practice of the live broadcast + industry goes far beyond this. Even counter-cyclical real estate can still gain increments with the help of live broadcast venues.
At present, as the real estate market enters the structural adjustment, there is a widespread demand in the market for returning home purchases, traveling home purchases, and second home purchases. In response to the above needs, Kuaishou Ideal Home has launched a “cross-city joint sales” model. The core of
's so-called "cross-city joint sales" model is to break the regional imbalance of supply, which is achieved through the cooperation of customer anchors, agencies and housing agencies.Hosts on the customer source side publish short video content and acquire customers through live broadcasts. The housing agency is responsible for housing matching and ground connection services. Kuaishou Ideal Home, as the platform, provides clue circulation and traffic distribution capabilities, while ensuring the safety of clues, and ultimately helping It is easier and more convenient for users to buy houses across cities.
During the national home buying season, a 62-year-old retired couple from Dalian came to Banna after seeing a cross-city house viewing group activity in Dalian Banna. They originally planned to travel, but after experiencing the folk customs for five days, they were quite satisfied with the environment and services. , I turned in the deposit and house payment online when I got back.
Another 60-year-old retired couple from Harbin watched the live broadcast of "Dalian Principal Li" and coincided with the temporary release of a batch of houses for scarce units in hot-selling properties. They completed cross-city transactions in more than 20 days.
In addition, including live broadcast + blind date, live broadcast + car, including the cross-border linkage between Kuaishou and Ctrip, we can see that live broadcast has brought new increments to the industry and partners by incubating new business formats.
is written at the end
In 2024, many giants are increasing their focus on the live broadcast sector, including Kuaishou mentioned above, video accounts, Baidu, etc. Just like cooking, each company has different recipes, but they are all inseparable from the product base and content form of live streaming.
Of course, this does not mean the convergent evolution of "no one has what I have". On the contrary, after each company has successively completed the live broadcast infrastructure, the more important issue is how to continue to increase entropy as social relationships age and fail.
Some people believe that after more than ten years of development, the live broadcast industry has already reached the Red Sea and the ceiling has appeared. In fact, what really touches the ceiling is the content and form that remains unchanged. Users will indeed become bored and tired of the same content. Only by constantly creating new forms can we ultimately retain users.
Therefore, when observing platforms such as Kuaishou, in addition to the data level, we should also pay attention to the update of the anchor ecology. Whether refreshing content continues to appear, or subverts the traditional form, and whether there will be new interactions and interactions between anchors and users. connect.
As for the final commercialization path, it is far more than just bringing goods. It can be recruitment, blind date, or purely providing emotional value. Therefore, supporting the growth of Kuaishou, or tapping the value of the live broadcast industry, ultimately depends on high-quality content, and other manufacturers have also realized that the impact of live broadcast on the Internet is far from over.
From the combination of Kuaishou live broadcast with different businesses, the cooperation between Ctrip and Kuaishou, and the fierce battle between Meituan and Douyin around live broadcast + local life, there is no doubt that in 2024, live broadcast will still be the "value base" of the industry.
In addition to virtual human live broadcast, Kuaishou Live is also exploring new paths in more vertical categories. Fu Chi, head of Kuaishou Live Broadcasting, has previously said that in the past year, Kuaishou Live Broadcasting has further enhanced the certainty of long-term operations for guilds and anchors, provided refined operations through deep regional development, and continuously promoted new live broadcast categories such as voice, palace, and virtual humans. Prosper and develop, and realize the integrated development of the large-scale entertainment live broadcast ecosystem of games and shows.
The benefits brought by these explorations are obvious.
As of last year, the average daily live broadcast time of Kuaishou anchors has increased by nearly 30% year-on-year, and the number of high-quality anchors has increased by more than 100 times. The diversification of content supply in terms of scope and form can cover more user needs, thereby promoting the prosperity of the content consumption side.
For example, in the fourth quarter of last year, the supply and scale of Kuaishou live broadcast guilds continued to increase. The number of cooperative guilds exceeded 1,300, the number of guild anchors increased by 40%, and the average daily live broadcast time of anchors increased by more than 30% year-on-year. In terms of content and form, the number of traditional cultural anchors including opera, folk music, and intangible cultural heritage exceeds 190,000.
The content supply side has grown and the format has expanded to cover more content consumption needs, thus providing a "mass base" for the expansion of a new business ecology. In the fourth quarter of last year, Kuaishou’s monthly active users exceeded 700 million for the first time, which provided a huge user pool for some live streaming + businesses.
While content supply and consumption are increasing, Kuaishou's UGC community attributes are also changing the business form of live broadcasting itself. In the past, show live broadcasts had the clearest path to commercialization, with rewards becoming the platform’s most important source of income. With the rise of live streaming e-commerce, live streaming has seen more changing scenarios.
Business transformation has an explicit side, such as financial report data, and a hidden side, such as stimulating other businesses, such as live broadcasting and recruitment, blind dates, real estate, etc. to deeply integrate and explore new directions.
Live broadcast has become a "value base"
"A market of people and goods" is not a simple juxtaposition. There are people first, then goods, and people and goods gather to form a market. The Kuaishou founding team once mentioned that it is users who unlock e-commerce.
In fact, Kuaishou’s growth has largely benefited from the “overflow value” of live streaming. This overflow value has activated businesses such as recruitment, blind dates, automobiles, real estate, and even local life. Therefore, some people believe that live broadcast has become the "value base" of various industries.
"Yan Wei·Zhi Xiaoer", who has 13 years of blue-collar recruitment experience, has increased the breadth and depth of his business with the help of the Kuaishou platform. He has more than 4 million fans on the platform, which provides him with potential business breadth; and live broadcast provides more intuitive and high-frequency interaction, making it easier for Yan Wei to get closer to the hearts of users.
In the traditional recruitment market, it may be difficult for users to thank recruiters. However, through live broadcast + recruitment, fans even gave Yan Wei a plaque of "Worker's Mother" to him, and even asked her when she encountered doubts. Give it a voice.
In the past, the "standardization" of online recruitment products focused more on white-collar people. In the blue-collar market, users believe more in visible, tangible, and more intuitive presentations. To this end, at the end of last year, Kuaipin launched two cross-border special "job" broadcasts, inviting Second-hand Rose host Liang Long, talk show actors He Guangzhi and Zhao Xiaohui to serve as "Quaipin recommendation officers". The linkage of live broadcast + recruitment + IP provides a more scenario-based solution.
In the fourth quarter of last year, the average daily number of resume submissions in the quick recruitment business increased by more than 200% year-on-year, and the average daily number of delivery users increased by more than 100% year-on-year.
The practice of the live broadcast + industry goes far beyond this. Even counter-cyclical real estate can still gain increments with the help of live broadcast venues.
At present, as the real estate market enters the structural adjustment, there is a widespread demand in the market for returning home purchases, traveling home purchases, and second home purchases. In response to the above needs, Kuaishou Ideal Home has launched a “cross-city joint sales” model. The core of
's so-called "cross-city joint sales" model is to break the regional imbalance of supply, which is achieved through the cooperation of customer anchors, agencies and housing agencies.Hosts on the customer source side publish short video content and acquire customers through live broadcasts. The housing agency is responsible for housing matching and ground connection services. Kuaishou Ideal Home, as the platform, provides clue circulation and traffic distribution capabilities, while ensuring the safety of clues, and ultimately helping It is easier and more convenient for users to buy houses across cities.
During the national home buying season, a 62-year-old retired couple from Dalian came to Banna after seeing a cross-city house viewing group activity in Dalian Banna. They originally planned to travel, but after experiencing the folk customs for five days, they were quite satisfied with the environment and services. , I turned in the deposit and house payment online when I got back.
Another 60-year-old retired couple from Harbin watched the live broadcast of "Dalian Principal Li" and coincided with the temporary release of a batch of houses for scarce units in hot-selling properties. They completed cross-city transactions in more than 20 days.
In addition, including live broadcast + blind date, live broadcast + car, including the cross-border linkage between Kuaishou and Ctrip, we can see that live broadcast has brought new increments to the industry and partners by incubating new business formats.
is written at the end
In 2024, many giants are increasing their focus on the live broadcast sector, including Kuaishou mentioned above, video accounts, Baidu, etc. Just like cooking, each company has different recipes, but they are all inseparable from the product base and content form of live streaming.
Of course, this does not mean the convergent evolution of "no one has what I have". On the contrary, after each company has successively completed the live broadcast infrastructure, the more important issue is how to continue to increase entropy as social relationships age and fail.
Some people believe that after more than ten years of development, the live broadcast industry has already reached the Red Sea and the ceiling has appeared. In fact, what really touches the ceiling is the content and form that remains unchanged. Users will indeed become bored and tired of the same content. Only by constantly creating new forms can we ultimately retain users.
Therefore, when observing platforms such as Kuaishou, in addition to the data level, we should also pay attention to the update of the anchor ecology. Whether refreshing content continues to appear, or subverts the traditional form, and whether there will be new interactions and interactions between anchors and users. connect.
As for the final commercialization path, it is far more than just bringing goods. It can be recruitment, blind date, or purely providing emotional value. Therefore, supporting the growth of Kuaishou, or tapping the value of the live broadcast industry, ultimately depends on high-quality content, and other manufacturers have also realized that the impact of live broadcast on the Internet is far from over.
From the combination of Kuaishou live broadcast with different businesses, the cooperation between Ctrip and Kuaishou, and the fierce battle between Meituan and Douyin around live broadcast + local life, there is no doubt that in 2024, live broadcast will still be the "value base" of the industry.
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