Core Insights - The knowledge payment industry is undergoing significant regulatory changes, with new rules from Douyin mandating that knowledge payment products must be linked to formal publications, marking the end of the era of unregulated growth and the beginning of a new phase of standardized development [1] - The industry is shifting from a "traffic is king" competition to a focus on "content quality first," reflecting a broader trend in the content industry [1] - Content creators in the knowledge payment sector must adapt to this trend by enhancing the quality of their course offerings to seize development opportunities in the next 3-5 years [1] Industry Analysis - Two typical platform operation models are identified: - The open platform model represented by Ximalaya, which has low entry barriers and attracts numerous content producers, resulting in a rapid influx of courses but leading to quality inconsistencies and consumer confusion [3] - The invitation-based platform model represented by the Dedao App, which collaborates only with reputable experts and maintains strict quality control over course content, gradually building user trust despite a smaller initial user base [3] - The tightening of regulations is expected to eliminate the chaotic "bad money drives out good" scenario, pushing the knowledge payment industry to move away from marketing-driven growth towards a focus on core content competitiveness [3][4] Strategic Recommendations - Content creators should return to the essence of content, meticulously crafting knowledge products that address core user needs and provide real value, thereby establishing a solid foundation for development [4] - Marketing efforts should be conducted reasonably, serving to highlight content value rather than overshadowing it, with a focus on clear and sincere communication to build long-term user trust [4] - The core competitiveness of content creators will hinge on continuous professional development and precise insights into user needs, emphasizing that high-quality content will always find its place in the market [4][5]