November 14, well-known social microblogging platform officially released the 2019 third quarter earnings. According to earnings data show that microblogging, microblogging third quarter 2019 net revenues of $ 467.8 million, up 2%; non-US GAAP attributable to the microblogging net income of $ 176.1 million, net earnings per diluted share 77 cents higher than Wall Street expected.
From the point of view of the earnings situation as a whole, microblogging this quarter remains a fairly stable development posture, in which case the whole market into the winter period, it is not easy. Is particularly concerned that, after the tenth anniversary of the recently launched microblogging an oasis of much investment attention, which gives microblogging brought new imagination. In this earnings report, on the status of micro-Bo Han began oasis of insight and future information disclosed.
Honestly, after decades of development, microblogging need a new engine of growth, there is an important node oasis. Whether microblogging or its ecological oasis hatch, what can the future how much attraction? In advertising the winter period, Weibo's ability survive the winter? From this meeting, data and telephony in earnings, maybe we can find some answers.
To maintain net profit growth over Wall Street expected the winter period is the platform behind the overall strength of the show
In fact, the earnings situation from various Internet companies, we find that, at present the market is in the winter period: advertisers running budget being substantially reduced, advertisers running frequency also fell. Faced with this situation, professional media and content from its media competition and business strength to better the winter, but the media is not the same platform.
Media platform to continue to grow, it needs from multiple dimensions to optimize efficiency and matching advertising content, the test of its overall strength. Only truly make a difference in terms of comprehensive strength to break through, only more powerful media platform to get the favor of advertisers, media ecosystem in order to stabilize its continued prosperity.
Fortunately, the earnings situation from this point of view microblogging, microblogging overall strength of the market in winter matter has been fully demonstrated.
Revenue from the structural point of view, microblogging core business still maintained a rising trend. According to microblogging earnings data show that in the third quarter of 2019, microblogging advertising and marketing revenue of $ 412.5 million, up 1% from $ 409.3 million a year earlier; value-added services revenue of $ 55.3 million, compared with a year earlier up 9% to $ 50.9 million.
It showed, microblogging platform for advertisers and comprehensive strength has been affirmed authors. In continuing coverage of premium content and value-added services revenue more rapid growth ability, but also indicates that the ecological microblogging content is becoming more valuable, more moved by the user.
With the overall strength of the platform, despite living in the winter, but the micro-blog for future growth in the core business still keep the faith. In the earnings call, microblogging Wang Gaofei said in response to Jefferies analyst Thomas Chong questions about advertising problem: With the upgrading of the level of domestic consumption, regional type of customer brand of fast growth, and enhance the brand's appeal in recent In recent years it has grown substantially. This consumption upgrade and enhance brand appeal more to enhance cooperation embodied in the combination and variety shows with stars and their own brand. So in the future, there will be more regional-based brand customers will become a major customer of microblogging.
Meanwhile, the micro-Bo Wang Gaofei also revealed that micro-Bo in the third quarter of the number of advertisers to maintain double-digit growth. With the popularity of 5G ,, estimated delivery will start on 5G mobile advertising increase.
Why microblogging overall strength of the forefront of the total market? Why micro-Fair able to maintain growth in the core business in the winter period? Why microblogging profit may exceed Wall Street expectations in the winter period? The core reason perhaps two.
On the one hand, despite the mobile Internet industry is facing the problem of the disappearance of the demographic dividend, but the basic disk microblogging - active users still can not be underestimated.
According to earnings data microblogging, as of September 2019, microblogging monthly active users 497 million, a year earlier net increase of about 51 million monthly active users in about 94% of the mobile end user; September average daily active users to 216 million, compared with a year earlier net increase of about 21 million; Q3 according to growth projections, the microblogging MAU has now exceeded 500 million, once again usher milestone.
According to third-party data reporting data show that microblogging is currently sit tight in the domestic mobile social third top spot.
It is in this case the steady growth of active users, microblogging advertising and marketing revenue and value-added services, to achieve steady growth.
On the other hand, relying on the continued growth of active users and traffic advantages, despite the market competition is becoming increasingly fierce, but the microblogging operating model has not been destroyed because of competition, but with the active users increase, micro Bo differentiated marketing model increasingly highlight the advantages, and thus become a platform for advertisers do put in will be a key consideration.
对此，微博CEO王高飞在财报会议中也表示，借助不断增强的网络效应，持续的产品创新和丰富的内容生态，微博作为领先社交媒体平台的地位得到进一步加强。商业化方面，微博凭借差异化的广告产品和平台头部用户的社交影响力进一步获取了客户更多的社交广告预算份额。
而国泰君安证券也在研报中指出，微博广场式的社交媒体定位鲜明，通过开放的关系链和去中心化的社交关系，构建了大众和现场之间的连接，实现脱媒化信息传播过程，这种独一无二的内容壁垒成为了该公司的竞争优势。
在未来的一段时间内，微博在整个中国广告市场具备着不可替代性的优势，只要其整体的活跃用户能够保持增长，那么其广告营收就能够持续保持稳定。
移动互联网用户红利见顶后 5亿时代的微博选择强化纵向发展以布局未来
客观来看，微博的用户虽然依旧保持不错的增长，但整个中国移动互联网用户红利确实已经逐步见顶，如果不能持续拥有热点话题的激活，微博要持续保持活跃用户的高速增长，压力确实不小。
按照微博此前的增速来看，目前微博已经成功进入5亿时代。这既是微博整体规模达到新高度的起点，同时也是微博迎来用户见顶挑战的开始。从本次财报中的数据和财报会议中透露的情况来看，微博最终选择强化纵向的发展，以布局未来。笔者盘点了一下，纵向发展时代的微博正在这以下几个方面实现突破。
（1）多样化内容推动热点事件的持续消费 这依旧还是微博的核心竞争力
从日常很多用户的习惯中我们不难发现，真正谈及热点事件，人们首要的便是去微博上了解情况。事实上，微博也在加强其在热点事件中的价值，希望有能力推动热点事件的持续消费。
在常规图文内容的同时，微博本季度着重强化了视频布局，围绕媒体视频、PGC视频和UGC视频三类形态，以形成对一个热点事件进行多样化内容讨论。
在媒体视频方面，今年国庆期间有近6000家媒体在微博上发布了近28万条国庆相关视频内容，被用户广泛关注和消费，整体播放量超过86亿；在PGC视频领域，微博优化了视频社区的推荐和通知模式，加强了铁粉和弹幕等功能，以强化社交和互动；9月，用户在视频社区的人均视频消费规模以及互动率均环比提升两位数；而在在UGC视频领域，微博故事正在进行改版测试，新版计划将于第四季度上线。
一系列多样化的内容，正持续巩固着微博在热点事件领域的优势。只要保持这个优势，市场有热点，微博的热度就可以大幅提升。
（2）持续激活内容生态 助力内容创作者获得更多流量
创作者作为微博生态的核心组成部分，如何帮助作者获得更多流量，带来更多收入，这对于微博来说也是非常重要。
从本次微博财报中我们发现，微博头部用户规模、内容生产量和阅读量，已经连续8个季度同比增长两位数。根据微博此前在红人节中透露的数据显示，截至今年6月，微博上粉丝规模大于2万或月阅读量大于10万的头部作者规模进一步扩大到78万，与去年同期相比增长32%，其中粉丝规模大于50万或月阅读量大于1000万的大V用户规模接近6万。
第三季度，微博整体流量和互动量保持了两位数的同比增长。而在微博持续对流量结构进行优化的情况下，依托于微博的社交属性，微博公域与私域两大流量池都实现迅猛的增长，从而给广大的创作者也带来了巨大的福利。
一方面，在粉丝群、铁粉、超话社区等分析运营工具的推出下，微博创作者可以快速获取私域流量，进而配合V+、电商等方式进行私域流量变现，这已经是微博相比其他媒体属性产品的最大竞争壁垒。
另外一方面，微博微博热门流流量、热搜点击量以及视频推荐流流量都实现迅猛增长，尤其是垂直化的内容创作者，在微博垂直化扶持的战略下，纵然是处于中长尾区域，依然可以获得大量精准有效的公域流量，这大幅提升了整个内容生态的公平性，实现整个生态更加良性的发展，长期讲对微博生态稳定提供巨大帮助。
（3）覆盖更丰富的消费场景 微博正逐步成为互联网的基础设施
与此同时，在行业合作共赢的大趋势下，微博也正在尝试覆盖更丰富的消费场景，成为国民必备的一种互联网基础设施。
目前来说，微博已经与优酷、支付宝小程序、百度地图相继达成新合作。在未来，随着平台化策略的深入推进，微博将以基础设施/标配服务的定位覆盖更多消费场景，这对于整体微博的生态发展来说，无疑是加入了更为稳定的流量池。
（4）强化差异性营销模式 提升流量变现效率
纵然整个市场在未来都会面临流量获取的难题，但如果能从流量变现效率方面实现微博，微博的综合实力势必可以再上一层楼。
根据第三方报告显示，2019年在Facebook、Twitter和Instagram等社交媒体上的营销投入将达到840亿美元，增长20%。
从长远趋势来看，广告主的广告预算还在加速向社交渠道迁移。微博正结合平台优势不断建立和强化一系列的差异化营销模。举个例子，明星/KOL借势营销、IP节目合作营销、内容定制营销就已经成为微博的特色。
尤其是“明星+内容”营销模式，这已经获得众多广告主的青睐。在微博此前与国际运动品牌阿迪达斯的合作中，微博哦按照新品调性与黄明昊、朱正廷等四位明星合作拍摄个性化宣推短视频。相关视频的播放量超过4000万次，激发起粉丝分享自身故事的创作热情，帮助阿迪达斯新产品引爆了品牌声量。
同时，微博在KA领域保持着快速的预算获取能力，在中小领域的竞争力也不断增强。某种意义上来说，正是从早期大量的明星到微博活跃再到后续明星营销找微博一般，微博已经成为明星和KOL营销上的探索者。
具备这一的市场地位，微博已经悄然形成的差异性营销优势，将会持续给微博在营销效率方面实现突破。
由此来看，进入5亿时代的微博，选择纵向的发展姿态，其实本质就是走向了一条精细化运营的道路。在这些细分的版块里，微博正加强其业务的护城河，这将是未来微博能拥有业务持续稳定增长能力的基础。
十年后的微博 绿洲将会成为微博发展的新变量？
不过，从本次的财报情况来看，微博已经不止于稳。十年后的微博，也正在给自己寻找新的变量，而绿洲的出现，就给大家带来了巨大的想象力。
As the micro-blog on the occasion of the tenth anniversary of the launch of the social product, Oasis can be said to build a micro-blog more extensive product ecology. Prior to the microblogging always be questioned outside their business with a single profit model, can be described as an oasis appeared to break the pattern of large and micro-blog in the past, and as a child of the community is an oasis of microblogging, microblogging stripped from out alone with micro and because Bo, regardless of home.
This mutual collaboration model, microblog CEO Wang Gaofei earnings conference also in the process of answering Citigroup analyst explanation: "Oasis" is the new layout of our product endorsement in the social field, positioned in the life of content sharing, and microblogging operators still have differences, especially in ecology and content platform and microblogging is complementary synergy.
Microblogging hope that through the "Oasis" to open up a more vertical focus on the life and content platform. In this way, these accounts can get more exposure in the microblogging content and "Oasis" two platforms. So you will find that even though a lot of content in the oasis, we also had micro-blog to see, but Oasis has given greater content exposure, we respect these relatively unpopular in microblogging content and more interactive passion.
For example, art, home, technology in these areas, before the exposure of such content on the microblogging obtained may not be large, but on the inside "Oasis" they will get a higher sense of presence and get more attention and interaction.
In a sense, the oasis is actually a part of the vertical development strategy of microblogging. Relying on the microblogging itself steady growth of users, customers, we believe that Oasis will soon be able to achieve a breakthrough in the commercial potential in terms of cohesion and users.
Therefore, this point of view, this new collaborative oasis of social media and microblogging, microblogging will be a new beginning toward the future, but also the development of micro-Bo is an important variable in the future. Overall, microblogging selection when the demographic dividend disappeared more vertically oriented, more vertical line of development is still a Wenzhongqiusheng road, but with such a variable oasis, and therefore the future of microblogging change even more worth the wait.
