China’s super app WeChat continues to get bigger and more profitable as its TikTok-like short video function generates strong advertising revenue and e-commerce sales, according to the latest data released by the app’s owner Tencent Holdings, reports the South China Morning Post. The social media app, which started as an instant messaging tool in 2011, has gradually become an all-in-one platform for Chinese smartphone users.
Tencent said on Wednesday that monthly active users of WeChat and Weixin – the terms the company uses to refer to accounts outside and inside mainland China, respectively – reached 1.327 billion by the end of June, up from 1.319 billion three months earlier. Tencent did not provide a breakdown of domestic and overseas users, although it is widely estimated that the vast majority of users are in China.
In the second quarter, time spent on WeChat Channels – the name of the short video service that competes with ByteDance’s Douyin, the Chinese version of TikTok – almost doubled year on year, aided by double-digit growth in daily active users, Tencent president Martin Lau Chi-ping, said in a conference call with analysts on Wednesday.