Core Viewpoint - Tencent's video subscription numbers have significantly declined, impacting overall performance despite revenue and net profit growth in Q2 2025 [1][4]. Group 1: Financial Performance - Tencent reported a 15% year-on-year revenue increase to 184.5 billion yuan and a 17% rise in net profit to 55.6 billion yuan for Q2 2025 [1]. - The decline in Tencent Video's paid subscriber count reached 3 million, totaling 114 million by the end of Q2 [1]. Group 2: Market Environment - The advertising revenue for Tencent Video faces considerable pressure, with iQIYI's ad revenue dropping by 10.4% to 1.33 billion yuan in Q1 2024, and Mango TV's ad revenue decreasing by 2.7% to 3.438 billion yuan in 2024 [2]. - Short video platforms are increasingly capturing traffic and advertising clients from long video platforms, with short video users in China reaching 1.04 billion and a usage rate of 93.8% as of December 2024 [2]. Group 3: Industry Trends - Tencent Video is adapting to industry changes, with over 20,000 vertical short dramas launched and achieving 3 billion views, indicating a shift towards short-form content [3]. - The company acknowledges the need to accelerate changes in response to the decline in long video viewership, as highlighted by Tencent's Vice President [4].

Core Viewpoint - The rise of short videos and artificial intelligence poses a significant threat to the traditional role of text, leading to concerns about the decline of written communication in the digital age [1][2][5]. Group 1: Impact of Short Videos - Short video users in China have surpassed 1.04 billion, with an average of 130 million new content pieces produced daily, and individuals spending approximately 156 minutes per day watching these videos [1]. - The content produced is often lacking in substance, with a prevalence of superficial themes driven by the pursuit of traffic, leading to a degradation of traditional values [2][5]. - The overwhelming presence of low-quality text content has resulted in a decline in reader engagement, as many articles fail to provide meaningful value [5][6]. Group 2: The Crisis of Written Communication - The quality of written content has deteriorated, with many articles being filled with empty phrases and lacking genuine expression, while the rise of internet slang has trivialized serious discussions [5][6]. - The focus on quick, attention-grabbing content has led to a culture of plagiarism and the outsourcing of writing to AI, resulting in a lack of originality and depth [5][6]. - Despite the ongoing love for text among some individuals, the information overload in the digital age has made it difficult for meaningful written communication to thrive [5][6]. Group 3: The Value of Text - Text remains a fundamental form of expression, serving as the basis for all other media, including short videos, which rely heavily on written content for effective communication [8]. - The need for thoughtful and authoritative written expression is heightened in an era filled with misinformation and diverse opinions, as people seek clarity and guidance [8][9]. - The enduring power of text lies in its ability to connect individuals to broader narratives and provide a means of understanding complex emotions and societal issues [12][13].