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Depth comparison of six video platforms From “Customer acquisition, retention and realization”

The following is the Depth comparison of six video platforms From “Customer acquisition, retention and realization” recommended by And this article belongs to the classification: Securities report, research report, Network video.

1. Product form: the common attribute is “Pan entertainment”, while the difference lies in the content audience, production mode and product positioning

(1) Iqiyi: focus on IP to broadcast quality content alone, and enrich product functions through live broadcast, VR and social networking;

(2) Tencent Video: Tencent pan entertainment ecology helps content self-control, and Doki community strengthens star chasing service;

(3) Youku: build a full content platform based on Alida’s cultural and entertainment system, and help the youth with variety animation;

(4) Mango TV: backed by Hunan Radio and television, the self-made barrier of variety show extends to drama series, and deeply excavates user value;

(5) BiliBili: build pugv content ecology based on up main creation, and create a diversified cultural community;

(6) Watermelon Video: both long and short video, algorithm recommendation leading, build pugc integrated video platform.

2. User access: the commonness is to attract users relying on “content + marketing”, while the difference lies in the user portrait of the platform

High quality content and marketing activities are the key to attract new users. On the one hand, the video platform strengthens the control of content by increasing self-made investment to build the core of brand value; on the other hand, it helps the platform out of the circle through marketing activities to achieve brand upgrading, so as to enhance the platform user activity, user stickiness and the number of paying users.

Different “content + marketing” styles affect the tonality of each video platform, and also precipitate the differentiated platform user portraits.

(1) Iqiyi: Yuehuo has the largest number of users, and the proportion of users in post-90s and first tier cities is low;

(2) Tencent Video: the proportion of female users is second only to mango TV, and the online consumption ability is medium;

(3) Youku: the proportion of post-90s users is the highest in the first echelon of “aitengyou”, and most of the users in high consumption first tier cities;

(4) Mango TV: nearly 80% of female users have the strongest online consumption ability;

(5) BiliBili: focus on the young people of generation Z, with the largest number of users in the first tier cities;

(6) Watermelon Video: focusing on the sinking market, users are the most mature and have the lowest consumption power.

3. User retention: the commonness is to enhance the platform stickiness through user interaction, while the difference lies in the user stickiness caused by community atmosphere, barrage culture and interactive form

Sociality and interactivity affect the retention of users, and interaction has gradually become the characteristic core of online video. In order to enhance the user interaction experience, video platform, on the one hand, focuses on improving the traditional interaction methods such as barrage and comments, and barrage has gradually become the social language of video users. BiliBili is mainly a binary ghost animal, iqiyi is partial to variety topics, and Youku Tencent is mainly discussing the plot.

On the other hand, they also explore new interactive ways such as interactive video.

Different community atmosphere, barrage culture and interactive forms also lead to different data retained by users of various video platforms. In terms of average daily user duration, watermelon video is temporarily in the lead; BiliBili high duration users account for the highest proportion, and watermelon video duration structure is polarized. In terms of user stickiness, relying on the deep cultivation of community and a large number of original ACG and other content superimposed segmentation users, BiliBili users’ average daily usage and dau / Mau are much higher than other platforms.

In terms of user interaction, BiliBili, which locates pugc video, has higher user interaction activity than other platforms in terms of life, entertainment, games and other contents. Iqiyi has better interaction in film and television variety shows, and mango TV has higher user activity in self-made variety shows.

4. User realization: members and advertising are the main sources of income, and the difference lies in the new monetization models such as live broadcast and e-commerce

The revenue of traditional video websites mainly comes from membership and advertising business, while the cost mainly comes from content procurement and production.

In terms of the number of members, by the end of Q3 in 2020, the number of Tencent’s video subscription members has exceeded 120 million, iqiyi’s subscription members has reached 100 million, and BiliBili’s large membership has reached 12.8 million and maintained a rapid growth; by the end of 2020, the number of effective members of mango TV has reached 36.13 million. In terms of payment rate, as of Q3 in 2020, Tencent’s video payment rate is 23.33%, iqiyi’s payment rate is 18.03%, mango TV’s payment rate is about 15%, and BiliBili’s payment rate is 7.61%.

In addition, video websites, on the one hand, dig deep into users’ payment value through member price increase, advanced VOD and paid viewing, and enhance users’ payment income through multi-level payment system; on the other hand, they actively explore new monetization modes such as live broadcast and e-commerce, such as mango TV’s launch of Xiaomang e-commerce, or play the company’s role in star, brand, and Internet With the comprehensive advantages of traffic resources and other aspects, it is expected to create a star with goods ecology, deeply tap the economic value of fans, and create the second growth curve of the company; BiliBili Bili has become a necessary agent distribution channel for the two-dimensional game, and continues to increase the live broadcast business, which is expected to take millions of up hosts as a natural anchor pool, bringing about qualitative changes in the revenue of live broadcast business.

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