Core Insights - The 2024 KOL industry report indicates a trend of "slowing growth and structural optimization," with nearly 15 million creators having over 10,000 followers, reflecting a 5% annual growth rate [1][2] - The content ecosystem is rapidly integrating various formats such as short videos, live streaming, long videos, and audio, with significant growth in niches like culture and agriculture, where cultural content saw a fan growth rate of 32.3% [1][2] - The report highlights the significant head effect of platforms like Douyin and Kuaishou, with Douyin's top KOLs showing strong commercial conversion rates, while Xiaohongshu is expanding beyond its "female-centric" label into lifestyle services [1][2] Industry Overview - The KOL industry is transitioning from "traffic competition" to "value competition," with Douyin's e-commerce GMV reaching 3.5 trillion yuan and Xiaohongshu's "buyer e-commerce" model emerging [2] - Brand investments are becoming more rational, with Douyin favoring cost-effective traffic from mid-tier KOLs, Xiaohongshu focusing on precise outreach to lower-tier KOLs, and Bilibili concentrating on mid-tier niche collaborations [2] - The report emphasizes the importance of technological empowerment, with AI-generated content tools lowering creation barriers and innovative formats like virtual hosts enhancing user interaction [2] Platform Dynamics - Douyin and Kuaishou exhibit significant head effects, while Xiaohongshu is enhancing its "practical community" attributes and expanding into various lifestyle sectors [1][2] - Bilibili is deepening its focus on niche content, with knowledge-based creators performing well and commercializing across diverse fields [1][2] - The report notes that the KOL ecosystem is characterized by differentiated strategies across platforms, with Douyin prioritizing traffic conversion, Xiaohongshu emphasizing precise marketing, and Bilibili focusing on cultural communities [1][2] Creator Landscape - The number of creators with over 10,000 followers is projected to reach nearly 15 million in 2024, with a 5% annual growth rate, indicating a shift towards mid and lower-tier KOLs as the main growth drivers [1][2] - The report identifies a trend of decentralization in platform ecosystems, with mid and lower-tier creators gaining prominence, particularly in Xiaohongshu and Bilibili [1][2] - The growth of mid and lower-tier KOLs is supported by the platforms' recommendation mechanisms and user preferences for practical and vertical content [1][2]