WeChat is an instant messaging software launched by Tencent on January 21, 2011. It provides functions such as voice conversation, circle of friends, payment, official account, applet, and video communication.
After ten years of development, WeChat has not only successfully written text messages into history, but also turned it into a way of life, a national-level product with 1.1 billion daily active users. At the end of 2020, 1.09 billion users open WeChat every day, 330 million people make video calls, 780 million people enter Moments, 120 million post Moments, and Moments have 100 million videos every day. Every day, 360 million people enter the official country email list account, and 400 million users use mini programs.
In the current WeChat ecosystem, official accounts have high requirements for content output and are only suitable for a small number of people. The circle of friends is mainly based on pictures and short text. At the same time, with the rapid development of short videos and 4/5G networks, video expressions have been accepted and adopted by more and more users. Public domain traffic is saturated while private domain traffic is gradually gaining momentum. There should be a video in the WeChat ecosystem. content platform.
Therefore, we plan to launch the "video account" function, and we define the video account as a short content platform that everyone can create. On the one hand, we hope that the video account can satisfy the core demands of C-end users for "video expression"; The official website of the terminal is "WeChatized", the process of mutual conversion between public domain traffic and private domain traffic.
2. Industry overview
After the rapid explosion a few years ago, the short video market has entered a period of steady growth. CNNIC data shows that in June 2020, the number of short video users in my country has reached 817.86 million, and the utilization rate is as high as 87%. Short videos ranked top among netizens’ per capita daily app usage time, accounting for 29.6%. Although the growth rate of short video monthly active users has slowed down, the overall scale has reached 800 million in 2020.