红果做的是短剧生态，而不只是短剧内容

Core Insights - The core viewpoint is that Hongguo's business model focuses on creating a short drama ecosystem rather than merely producing short drama content [1][2][3] Group 1: Business Model - Hongguo is evolving from a content platform to an ecosystem platform, similar to Douyin, emphasizing user engagement and interaction [2][4] - The company aims to integrate various content forms, including short drama variety shows and live broadcasts, to enhance user retention and engagement [5][8] - The primary revenue model for Hongguo is based on advertising, where increased user engagement leads to higher ad revenue [8] Group 2: Competitive Landscape - The competition between Hongguo and platforms like Youku, iQIYI, and Tencent Video is framed as an ecosystem battle rather than a content battle [2][4] - To succeed, content providers must adapt to platform rules and engage in the short drama ecosystem, leveraging user-generated content and creator accounts [4][5] Group 3: User Engagement - Hongguo's algorithm prioritizes "completion rate," which is central to its business model, focusing on maximizing user watch time [8] - The potential for cross-platform integration with Douyin could significantly enhance Hongguo's user activity and engagement levels [8]