Total number of views on WeChat Channels surged, helped by a 400% rise in video views based on AI recommendations, as well as a 237% jump in news video views, Tencent executives said during the company’s annual WeChat conference Tuesday. That propelled growth in Channels’ livestreaming ecommerce, with total gross merchandise value jumping more than 800%, they said.
The payment and smartphone backbone of Tencent’s sprawling empire is under growing pressure to monetise its offerings to offset the conglomerate’s struggling streaming and domestic games operations. WeChat’s TikTok-style feature has been a bright spot in the company’s portfolio. Executives have said advertising revenue generated by the new service should surpass 1bil yuan in the fourth quarter.
Unveiled in 2020, the app’s short-video feature – like Douyin – allows users to scroll through an endless stream of videos or photos recommended by algorithms. Users can now also scout for nearby live-streamers and tip them with virtual coins. – Bloomberg
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