Qutoutiao's revenue in the third quarter was 965 million yuan, and Miyu continued to grow

On December 21, Beijing time, Qutoutiao announced its third quarterly performance report as of September 30, 2021. According to the financial report, in the third quarter of 2021, Qutoutiao's revenue reached 965 million yuan, and Qutoutiao's free online text platform Mi-reading novel daily active users continued to grow after exceeding 10 million, showing a steady development trend.

Tan Siliang, founder and CEO of Qutoutiao, said: "Affected by the macro environment, the Internet advertising industry is under pressure, in a challenging market environment, the performance of the third quarter is basically in line with our expectations, and Mi Reading Novel is steadily advancing on the established track. In the future, the company will firmly implement long-term doctrine, reduce costs and increase efficiency while continuing to innovate, and actively embrace new changes in the market. ”

Mi-reading novels continue to build a content ecology, and the number of original authors continues to rise. As of September 2021, the number of original authors of mi-read novels increased by 172.75% year-on-year, and many books on innovative topics such as the era of literature have emerged, providing users with a rich variety of original and high-quality works.

After running through the IP incubation link of short dramas, the performance of meter reading short dramas reached a new high. Up to now, the total number of short dramas produced by Mi Reading short dramas has reached nearly 500 million, with a total playback volume of nearly 5.5 billion, and the highest number of plays of a single short drama has reached 550 million. For example, breakthroughs in male themes such as martial arts and action have been made to further meet the content consumption needs of male users for short dramas. At the same time, Mi-reading short dramas have reached cooperation with mango TV, B station, Youku and other platforms, and will jointly explore short drama forms such as instant noodles and interactive dramas.

In terms of IP adaptation, Mi Reading Novel cooperated with Himalaya and Cool I Listen to explore the adaptation of audiobooks, and reached an animation adaptation cooperation with Station B and iQiyi. Up to now, Mi-reading Novels has promoted the licensing of audiobooks, animations, film and television adaptations of hundreds of original novels, accelerating the amplification of IP value and helping IP growth.

Qutoutiao always adheres to the principle of "content for good" and actively fulfills its corporate social responsibility. In the 2021 Chongyang Festival, Qutoutiao and the Elderly Talent Information Center of the China Association on Aging jointly launched the "Wisdom to Help the Elderly enter the Community Action" to popularize Internet application knowledge through offline teaching for the elderly. At the same time, Qutoutiao, together with the Integrated Communication Research Center of the School of Media and Communication of Shanghai Jiao Tong University and the Surging News, jointly released the "2021 Report on the Use of Mobile Phones for the Elderly", focusing on the use of smartphones by the elderly over the age of 60, and launching the "Accompanying One Hour" initiative, calling on young people to take the initiative to care for and accompany their parents and help the elderly enjoy digital life.