The following is the Q4 will achieve quarterly profit for the first time in 2020, and Midu will complete US $110 million round C financing From Interesting headlines recommended by recordtrend.com. And this article belongs to the classification: Industry information.
March 4, Beijing time（ NASDAQ:QTT ）Officially released the fourth quarter and annual financial report of 2020. According to the financial report, the total operating revenue of qutoutiao in 2020 reached 5.285 billion yuan, of which the operating revenue in the fourth quarter was 1.302 billion yuan, a month on month increase of 15.3%, exceeding the market expectation. It is worth noting that qutoutiao ushered in the turning point of performance. Under the non US general accounting standards, the operating profit in the fourth quarter reached 42.5 million yuan, the first quarterly profit since listing. The financial report also announced that Midu has completed $110 million in round C financing.
2020 is a year full of challenges. In the face of the epidemic situation and the uncertainty of the global economic situation, qutoutiao has achieved the profit goal and commitment set at the beginning of this year by improving the health of the platform, continuously promoting the ecological construction of original content and IP incubation, and continuously optimizing the economic model.
Tan siliang, chairman and CEO of qutoutiao, said: “throughout the year, we are committed to providing users with rich and interesting content to realize the sustainable development of the business, and achieved returns in the fourth quarter. In 2021, we will continue to enrich the content ecology, optimize the algorithm technology, and promote the strong growth of users and revenue scale. At the same time, we will strengthen our investment and support in meter reading, achieve the goal of doubling the users and income of meter reading in the second half of the year, and continue to maintain our leading position in the field of free reading. “
Milu obtained US $110 million in round C financing, unlocking a new way of commercial realization
In the past year, Midu has reached a new level in strategic cooperation, content ecology, IP incubation, etc. As a leader in the free online literature market, Midu received capital approval again in the fourth quarter, and completed the $110 million C round of financing, which will provide a strong guarantee for the ecological construction of Midu’s content. This is just one year after Midu completed the $100 million round B financing led by CMC capital in October 2019.
For the free reading platform, the competition of the industry has gone beyond the stage of grabbing traffic and upgraded to the competition of high-quality content. As early as 2019, Midu has made great efforts in the ecological construction of original content. As of the fourth quarter of 2020, the total number of original books has increased by 142.04% year on year, and the number of high-quality works has increased significantly. Dozens of original novels have entered the hot sale list of other online reading platforms.
More and more users pay attention to and like the high-quality content of Midu. In 2020, there will be 11 original works with more than one million praise points on Midu’s whole platform, and the cumulative number of rewards will exceed 800000 times. Among them, the popular novel “uncle, pet me! 》Nearly 100000 users praised him, with more than 7 million likes and nearly 2 million comments.
The continuous output of high-quality content comes from the attention of midiu to the author. Midu set up a rising channel for young writers. Through cooperation with writers’ village, writers’ Association and other organizations, Midu provided training and services for writers, improved the incubation system of writers, and helped new writers grow up. It is worth mentioning that through hard work, the original author has also obtained rich returns in Midu. Luo Changtian, the author of long son-in-law, will earn nearly 3 million yuan in 2020! 》At the beginning of the night, the author’s revenue from a single book is nearly 4 million yuan.
While continuously producing high-quality content, Midu also strengthens the full exploitation of high-quality original content. So far, Midu has incubated more than 30 original novels into IP short plays, and has achieved good repercussions and public praise in the whole network. The total network broadcast volume of Midu IP short plays has exceeded 2 billion, the total number of fans has exceeded 13 million, the praise has exceeded 50 million, and the single episode broadcast volume of several IP short plays has exceeded 50 million.
In the exploration of commercialization of IP short play, Midu has not only unlocked more new ways of playing, but also released IP value to the greatest extent. Among them, the short play “my contractual boyfriend” won the exclusive title of Wang Laoji, with a single episode broadcast volume of more than 5 million; the short play “national God of men is a girl” gave full play to the content characteristics, and deeply integrated the plot and scene with the brand and product of Dr diamond ring, with a broadcast volume of 116 million and praise of nearly 3.3 million.
In the mobile trend of digital reading, online reading market is still full of potential. According to the data of iResearch, the number of online literature users will exceed 500 million in 2022, and the market size is expected to reach 45.39 billion yuan. After gaining capital blessing again, Midu will increase investment in original content, try various forms such as instant noodles and interactive dramas in IP incubation, strive to double the daily active users and income in 2021, and consolidate its leading position in the free reading industry.
Platform health continues to improve, algorithm upgrade helps content ecology
While the long-term content represented by Midu is booming, as a mobile content platform deeply rooted in the emerging market, qutoutiao has spared no effort in the construction of short content.
By upgrading the author’s production tools, optimizing the “flow acceleration card” and increasing the author’s “self recommendation on the list” and other functions, the interesting headline app has strengthened the flow preference for high-quality authors. On the other hand, qutoutiao launched the “Qiushi plan” to improve the author incentive system and help thousands of professional creators by signing contracts to guarantee the bottom. As of the end of December 2020, the number of interesting headlines app authors has increased by 49.76% year-on-year, and the average monthly income of high-quality authors has increased by 30%, which has achieved remarkable results in the ecological construction of authors.
At the same time, in order to further increase the production of high-quality content, qutoutiao app continues to launch activities such as “clothing, food, housing and transportation strategy for changing seasons”, “tell your emotional story” and “interesting life for agriculture, rural areas and farmers”, which stimulate the author’s creative enthusiasm, produce high-quality content, and meet the needs of users in emerging markets for emotion, life, agriculture, rural areas and other content.
In addition, interesting headlines also continues to explore and innovate in AI technology, enabling all business lines through in-depth research on content recommendation and distribution. In this quarter, the proportion of timeliness content of the app increased by 50% on a month on month basis, the proportion of users’ hot content reading UV increased by 20% on a month on month basis, and users’ satisfaction with the app and midiu increased by 22.7% on a year-on-year basis.
While improving the user experience, in 2020, the AI algorithm technology solution developed by qutoutiao has reached the leading level in the industry, which not only meets the needs of the company’s machine learning, but also achieves the purpose of cost reduction and efficiency improvement. The company’s comprehensive operating cost has been reduced by 12.05% year on year, and the platform health has been significantly improved.
Actively practice corporate social responsibility and start a new journey of rapid development
At the same time of releasing the commercial value, we should actively practice the corporate social responsibility and help to get rid of poverty. In 2020, Qu Toutiao will launch the program of “assisting agriculture with interest”, give full play to the advantages of content platform, let more users participate in public welfare activities, and provide help for specialty sales, cultural heritage and tourism development of poor counties.
After the epidemic, qutoutiao launched the Hubei agricultural products promotion month, which presented the production, circulation and sales scenes of Hubei agricultural and sideline products through pictures, videos and live broadcast, so as to solve the problem of products to be sold. In May 2020, qutoutiao launched the “Jiahe Wanshixing” project. Through the “interesting vegetable growing” game and e-commerce with goods and other innovative modes, qutoutiao assisted the walnut sales in Wuding County, Chuxiong Prefecture, Yunnan Province, broadened the market for local fruit farmers and increased their income. In July, qutoutiao launched the “warm current action” to support public service advertising and public service projects with platform flow resources, continuously spread positive energy, and realized a number of public service innovations. It was selected as “excellent case of targeted poverty alleviation” in 2020 China Brand Forum sponsored by people’s daily.
Mobile phone development and mobile phone popularization are becoming more and more popular. COVID-19’s influence on mobile phone’s daily life needs gradually increased. However, there are still huge digital divide between the 140 million smart phone users and the Internet. Since its establishment, qutoutiao has not only enriched the life of the elderly with square dance, health, health, agriculture, rural areas and other rich and interesting features, but also released the “Internet life report for the elderly” and the “one hour off the Internet” initiative on the Double Ninth Festival in 2020, advocating the whole society to pay attention to the elderly and calling on all sectors of society to take care of their physical and mental health. In 2021, qutoutiao will continue to promote a series of positive energy actions around the elderly to help them cross the digital divide and enjoy digital life.
As a young Internet company, qutoutiao continues to focus on users in emerging markets. In the face of saturated Internet market and strong competitors, qutoutiao has refined its strong organizational combat capability. In 2021, qutoutiao will start a new journey of rapid development. Read more: qutoutiao releases its financial report, which soars nearly 12% after hours. The revenue in the second quarter of 2020 is 1.44 billion yuan, exceeding the expectation. Qutoutiao financial report: the Q3 loss in 2020 narrows sharply year on year. It is expected to make a profit in the fourth quarter. Qutoutiao’s revenue in the second quarter of 2020 is 1.44 billion yuan, exceeding the expectation Kwai 2020Q1 headlines undue delay may bring trouble. The research and development of the headline 2020Q1 will be as high as 281 million yuan, and the strategic cooperation with the fast hand is to find a new IP mode of hatching news: the 2019 fun headline revenue will be 5 billion 570 million yuan, up 84.3% interesting year-on-year headlines: in 2019, the revenue of 5 billion 570 million yuan will grow by 84.3% compared with the same period. Qutoutiao: 1q20’s revenue was 1.412 billion yuan, up 26.2% year on year. The average monthly active users in the comprehensive quarter reached 138 million yuan, up 24.2% year on year. Qutoutiao announced the rectification measures reported in the 3.15 party Set up a special working group on advertising Ecological Governance: Aurora big data: Research Report on interesting headlines in 2018 (attached with download) Penguin think tank & interesting headlines: survey report on the population of college entrance examination in 2019 Ucloud’s financial results reflect the chronic disease of cloud computing
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