跨境电商：短视频出海-布局全球+聚焦区域的中国独立内容平台引领发展

Investment Rating - The report does not explicitly state an investment rating for the industry. Core Insights - The short video industry in China has established a robust user base with 1.053 billion users, representing 74% of the population and 96% of mobile internet users, with an average viewing time of 2.8 hours per day [1][60]. - The report highlights the saturation of the domestic market and the expansion of diverse monetization models, including online marketing, live e-commerce, and short dramas [1][60]. - Global demand for short videos is still growing, with significant opportunities in regions like Southeast Asia and Latin America, where user penetration and engagement are increasing [2][3]. Summary by Sections Short Video Industry Overview - The short video platform wave is reshaping content creation and consumption, with a shift towards user-generated content (UGC) and a focus on the "prosumer" economy [46][47]. - The rise of mobile internet and advancements in technology have facilitated the transition from text and images to video content [47][50]. Market Dynamics in China - The short video market in China reached a scale of 300 billion yuan in 2022, with a user penetration rate of 96.4% among mobile internet users [60]. - The growth of the short video user base is driven by its appeal across all age groups, with a notable increase in users aged 50 and above [73][60]. - The short video sector contributed significantly to the overall internet application landscape, surpassing instant messaging in user numbers [60]. Global Market Opportunities - The global average penetration rate for short videos is 42.43%, with regions like Southeast Asia and Latin America showing rapid growth [2][3]. - Countries like Indonesia and Argentina are leading in user growth and engagement, with Indonesia's penetration rate at 87.41% [2][3]. Monetization Strategies - Short videos are becoming a primary medium for advertising, with significant growth in marketing budgets allocated to this format [3][80]. - The transition from live streaming to interest-based e-commerce is evident, with platforms like Douyin and Kuaishou leading in user engagement and e-commerce integration [87][88]. - The report notes that short video platforms have a high overlap with mobile gaming users, making them crucial for game marketing [83][80].