文 | 新声Pro，作者 | 张嘉琦 生态的战略价值再一次被长视频平台强调，并进入到更具体的实践阶段。 生态建设是宏大命题，也是长视频平台在商业故事上的终局，但这一长期愿景今年在各家平台的战略表 述和业务布局中都体现得更为明显。 一方面，由于行业整体增速放缓，平台需要寻找新的增长路径；另一方面，经过多年积累而形成的IP资 源库，为其打通线上线下生态提供了核心资产。同时，在业务维度上，IP储备和产业纵深能力，也是长 视频与短视频平台竞争的差异化关键。因此，生态构建既是长视频平台应对现实挑战的方向，也是平台 基于自身优势所推进的战略升级。 具体来看，尽管目标一致，但各平台基于各自的资源优势与战略考量，在这条路径上展现了不同的侧重 与特点。 腾讯 在刚结束不久的2026腾讯视频V视界大会上，腾讯公司副总裁、腾讯在线视频董事长孙忠怀提出，「单 打独斗的时代已经过去，真正的壁垒是生态。」基于「用户需要优质内容、品牌需要有温度的沟通」两 个核心需求，腾讯视频的生态，建立在其扎实的IP储备和多个「产业生态」的基础上。 首先是以IP为核心铺开内容版图，将单一项目培养成具备持续性和广泛性的长期资产，以对抗文娱内容 的生命周期。 ...

Core Viewpoint - The article discusses the recent controversy surrounding Tencent Video's account suspension due to device limit violations, highlighting the tension between user rights and platform security measures, and the broader implications for the long video industry in China [5][6][11]. Group 1: Incident Overview - A user reported their Tencent Video VIP account was suspended for 7 days due to exceeding the device limit, sparking widespread discussion on social media [6]. - Tencent Video stated that the suspension was part of efforts to combat account sharing and protect user security, but many users perceived it as an unjustified restriction [6][10]. Group 2: Device Usage Rules - Tencent Video allows VIP members to log in on a maximum of 3 devices and stream on 1 device simultaneously, while higher-tier SVIP members can use up to 8 devices and stream on 3 simultaneously [8]. - The platform has a "security protection period" for accounts that exceed these limits, which can lead to longer suspensions with repeated violations [8][10]. Group 3: User Reactions - Users expressed frustration over the restrictions, with some reporting issues even when they were within the allowed device limits, leading to perceptions of unfair treatment [9][10]. - The article notes that many users feel pressured to upgrade to higher-tier memberships to avoid restrictions, which is seen as a form of indirect price increase [10][12]. Group 4: Industry Context - The device limit issue is not unique to Tencent Video; other platforms like iQIYI and Youku have similar restrictions in place to combat account sharing and piracy [12][14]. - The long video industry in China is facing challenges, with growth stagnating and platforms resorting to stricter measures to maximize revenue per user [15][17]. Group 5: Comparison with Global Trends - The article compares Tencent Video's approach to Netflix, which implemented strict account sharing policies and saw a significant increase in paid subscribers after doing so [19]. - While Netflix's strategy has proven effective, the article suggests that Chinese platforms are struggling to balance revenue generation with user satisfaction, often leading to public backlash [17][25]. Group 6: Future Considerations - The article concludes that platforms need to improve their rules and user experience to retain subscribers, emphasizing the importance of content quality and user trust in the membership model [25].

Core Viewpoint - The recent incident of VIP account suspension due to exceeding device limits on long video platforms has sparked significant public debate regarding the necessity and fairness of such actions [2][4][5]. Group 1: User Experiences and Reactions - Users like Zhang Ying and Li Yang have expressed frustration over their Tencent Video VIP accounts being suspended after exceeding the device limit, which is set at three devices for standard VIP accounts [2][5][6]. - Users argue that instead of suspending accounts, platforms should allow them to remove excess devices or log out from them [6][12]. - Concerns have been raised about the lack of refund for membership days lost during the suspension period, with users feeling that this practice is unfair [14][16]. Group 2: Platform Policies and Justifications - Tencent Video claims that the suspension policy is in place to prevent black market activities and protect user accounts, although this explanation has not fully satisfied consumers [4][17]. - The platform's service agreement specifies that standard VIP accounts can log in on a maximum of three devices, while SVIP and family card memberships allow for more devices [6][10]. - Other platforms like iQIYI and Youku have similar policies, indicating a broader industry trend towards limiting device usage [10][19]. Group 3: Legal and Ethical Considerations - Legal experts suggest that while the device limit policy may have some justification, it raises concerns about consumer rights and the potential for unfair treatment of legitimate users [17]. - Recommendations for improvement include better notification systems for users approaching device limits and more flexible measures for families or occasional users [18][19]. Group 4: Industry Trends and Future Directions - The ongoing debate highlights a tension between platform governance and user rights, with calls for a balance that protects both the integrity of the service and consumer satisfaction [19][20]. - As the industry evolves, platforms are expected to refine their policies to enhance user experience while maintaining security against misuse [19][20].

Core Insights - The online video industry is experiencing a new competitive landscape in 2025, with active user numbers reaching 815 million by July 2025, driven by policy relaxation and a trend towards content innovation and quality [1][10] Group 1: Market Positioning - Tencent Video and iQIYI remain the leading platforms in the long video market, with monthly active users of 365 million and 358 million respectively, while Mango TV and Youku follow with 284 million and 202 million [1][3] - Tencent does not disclose user scale and monthly active data in its reports, focusing instead on paid membership numbers, which were 117 million and 114 million in the first two quarters of 2025 [3] - iQIYI has shifted its focus from disclosing specific membership numbers to emphasizing the core value of its membership business, although its membership revenue has declined year-on-year due to reduced content scheduling [3] Group 2: Competitive Dynamics - Mango TV has gained significant traction, surpassing Youku by over 80 million monthly active users, with its membership business revenue showing a slight year-on-year increase to 2.496 billion yuan [5] - Youku's underperformance is attributed to its non-core status within Alibaba Group, which has undergone a restructuring that places Youku under the "other" category [5] Group 3: Content Trends - The number of new series released in the first seven months of 2025 has increased by 12.9%, with exclusive broadcasts becoming a core competitive focus for major platforms [7] - The proportion of exclusive broadcasts has risen across all platforms, with Youku leading at 87.5%, followed by iQIYI and Tencent Video at 78.8% and 78.5% respectively [7] - Despite industry speculation about reducing the number of episodes for long series, the average number of episodes for new series has not shown significant change, with 21-40 episodes still dominating [7] Group 4: Short Video Competition - The competition in the short video segment is intensifying, with Tencent Video and iQIYI leading in the number of new short series released, at 88 and 64 respectively [9] - iQIYI has significantly increased its short series output from 25 to 64 compared to the previous year, while Youku has reduced its new short series by 20 [9] Group 5: Regulatory Environment - The recent regulations from the National Radio and Television Administration, known as the "21 measures," aim to boost industry confidence and provide greater creative space for content innovation and diversification [10]

Core Insights - The long video platforms are facing challenges with revenue growth slowing down and profitability becoming more difficult, prompting a shift towards optimizing content costs and exploring new revenue sources like micro-short dramas, AIGC, IP derivatives, and content globalization [37] Industry Overview - Long video platforms are entering a new phase of project reduction and AI efficiency improvements due to stagnation in membership growth and weak advertising revenue [1][5] - The rise of short videos has significantly impacted the user base of long video platforms, with monthly active users (MAU) for Tencent Video, iQIYI, and Youku projected to drop from 5.3 billion, 5.65 billion, and 4.7 billion in August 2018 to 3.63 billion, 3.56 billion, and 2.01 billion by June 2025, respectively [3] Company-Specific Insights iQIYI - iQIYI reported a decline in revenue and net profit in the first two quarters, with major business segments like membership services and online advertising also experiencing downturns, although other income streams showed growth [7] - The platform is focusing on a balanced approach between long and short content, emphasizing high-quality productions to enhance user engagement and attract advertisers [15] - iQIYI's international membership revenue grew by 35% year-on-year, and the company is leveraging AI to reduce costs and enhance efficiency [13] Youku - Youku's strategy centers on content quality, series development, and cross-industry integration, with successful shows like "藏海传" achieving significant viewership and advertising revenue [16][19] - The platform is expanding its talent pool by recruiting notable industry figures to enhance content creation capabilities [19] Tencent Video - Tencent Video reported a paid membership count of 111.4 million, the only platform to disclose such figures, and is focusing on high-quality content to improve viewer retention [22] - The platform is shifting its strategy to prioritize A+ and S+ level projects, aiming to enhance the return on investment and avoid resource wastage [25] Mango TV - Mango TV's revenue for the first half of 2025 was 5.964 billion yuan, a decline of 14.31%, with significant drops in its content e-commerce segment [29][32] - The platform is increasing its investment in content, particularly in short dramas, with a reported 1179 micro-short dramas set to launch, marking a nearly sevenfold increase from the previous year [36]

Core Viewpoint - The article emphasizes that Alibaba's strategic entry into the competitive landscape of food delivery is a calculated move to leverage the weaknesses of its rivals, particularly during a time when they are financially strained from their own aggressive spending [3][12][14]. Financial Performance - The financial reports of the two main competitors in the food delivery sector indicate significant cash burn, with both companies investing heavily in their operations [5][9]. - Alibaba's recent financial results show that its spending is comparable to that of its competitors, suggesting a strategic alignment in the ongoing market battle [9][12]. Competitive Strategy - Alibaba's timing in entering the market is crucial; it capitalizes on the moment when its competitors are exhausted from their previous expenditures, akin to striking when the opponent is vulnerable [12][14]. - The article posits that Alibaba views the competition not merely as a business challenge but as a war, aiming to inflict substantial damage on its rivals while ensuring its own survival through superior financial backing [14][18]. Resource Allocation - The competitive landscape has shifted, allowing Alibaba to utilize its extensive resources across multiple business lines, enhancing the effectiveness of its financial investments in the food delivery sector [16][20]. - The article suggests that the ongoing competition will ultimately boil down to which company can sustain its financial losses longer, with Alibaba positioned to outlast its rivals due to its diversified business model [20].

Core Insights - The Southeast Asian streaming market is projected to grow to $6.8 billion by 2030, representing a 49% increase from 2024, with strong competition emerging from Chinese platforms against traditional leader Netflix [1] - The competition has evolved beyond content output to encompass localization depth, business model innovation, and cultural understanding [2] Group 1: Market Dynamics - By Q1 2025, U.S. platforms will still dominate Singapore with nearly 60% market share, while in Thailand, Chinese platforms have captured about 40% of the market, surpassing the 30% share of U.S. platforms [1] - The entry of Chinese platforms is driven by saturated domestic markets and the significant growth potential in Southeast Asia, where digital entertainment demand is high and cultural similarities exist [9][10] Group 2: Strategies of Chinese Platforms - iQIYI adopts a "high-profile" strategy, investing heavily in content production, planning to release 4 to 6 original Thai series annually with budgets around $1.54 million each [4] - WeTV focuses on idol cultivation, launching local talent discovery programs, which enhances user engagement and creates a unique content ecosystem [6][7] - Youku emphasizes a model export strategy, successfully adapting its popular variety show "Street Dance of China" for the Vietnamese market, establishing sustainable content production capabilities [8] Group 3: Competitive Advantages - Chinese platforms leverage pricing advantages, with subscription fees around $2 to $3 per month compared to Netflix's starting price of $7 to $8, making them more accessible in Southeast Asia [11] - The depth and agility of localized content production are key strengths for Chinese platforms, as they create content that resonates more with local audiences compared to Netflix's sometimes globally-oriented narratives [12][13] - Chinese platforms have quickly integrated local payment methods, enhancing user experience, while Netflix has been slower to adapt, previously relying mainly on credit card payments [14] Group 4: Future Trends - The rise of short dramas is a significant new variable in the market, with downloads of short drama apps in Southeast Asia increasing by 61% in Q1 2025, indicating a growing preference for this content format [17] - Short dramas offer lower production costs and quicker turnaround times, providing an opportunity for Chinese platforms to explore local user preferences [19] - iQIYI is aggressively pursuing short drama strategies, while Youku and WeTV are taking more cautious approaches, with potential collaborations with local teams [19][20] Group 5: Overall Competitive Landscape - The competition in the Southeast Asian streaming market has shifted from content acquisition to a comprehensive battle over ecosystems and business models [21] - Chinese platforms are establishing a foothold through flexible pricing, deep localization, and payment innovations, while Netflix maintains its position through brand strength and high-quality productions [22]

Core Viewpoint - Alibaba Group has restructured its business from "1+6+N" to four main categories, focusing on "e-commerce, cloud + AI" [1][4] Group Structure Adjustment - The new business categories include Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and all other businesses [1][2] - The Alibaba China E-commerce Group encompasses various segments such as Taobao, Tmall, Xianyu, and Fliggy, along with instant retail and wholesale operations [2][3] - The restructuring officially established the Alibaba China E-commerce Group in November 2024, integrating previously separated e-commerce resources into a comprehensive unit [2] Business Realignment - The local life group has been dismantled, with Ele.me integrated into the Alibaba China E-commerce Group, while other services like Gaode Map and Cainiao have been categorized under all other businesses [4] - This restructuring marks a significant shift from the previous "1+6+N" model, which was initiated in March 2023 [4] Strategic Focus - The adjustment reflects Alibaba's intent to concentrate resources on its most promising sectors, particularly e-commerce and cloud services [5] - Alibaba's Chairman, Daniel Zhang, emphasized that the core strategic direction for the next three to five years will be "e-commerce" and "cloud + AI," with AI technology becoming a central driver across all business units [5]

Core Viewpoint - Alibaba Group has officially restructured its business from the "1+6+N" model to four main business categories, focusing on "e-commerce, cloud + AI" [1][7]. Business Structure Changes - The new business categories include Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and all other businesses [3][6]. - The Alibaba China E-commerce Group encompasses various segments such as Taobao, Tmall, Xianyu, and Fliggy for e-commerce, as well as instant retail through Taobao Shanguo and Ele.me, and wholesale through 1688 [5]. Strategic Focus - The restructuring reflects Alibaba's strategic intent to concentrate resources on its most promising growth areas, particularly e-commerce and cloud services [8]. - Alibaba has exited non-core assets like Gao Xin Retail and Intime Department Store, reallocating resources to enhance its competitive edge in e-commerce and cloud intelligence [8][9]. Future Directions - Alibaba's leadership has emphasized that AI technology will be a core driver across all business segments, aiming for deep integration of AI with various operations [9]. - The company plans to increase investments in cloud and AI infrastructure to accelerate innovation and application across industries [9].

Core Viewpoint - Alibaba has restructured its business from the previous "1+6+N" model to a simplified framework consisting of four main business categories, focusing on e-commerce and cloud + AI [4][6]. Group 1: Business Structure Changes - Alibaba's new business structure includes four main categories: Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and all other businesses [1][4]. - The Alibaba China E-commerce Group encompasses various segments such as Taobao, Tmall, Xianyu, and Fliggy for e-commerce, as well as instant retail and wholesale operations [3][5]. - Other business categories include DingTalk, Quark, Gaode Map, Cainiao, Youku, Damai Entertainment, Hema, Alibaba Health, and Orange Lion Sports, with significant restructuring of local life services [6][7]. Group 2: Strategic Focus - The restructuring reflects Alibaba's strategic intent to concentrate resources on its most promising sectors, particularly e-commerce and cloud services [7][8]. - Alibaba has divested from non-core assets like Hema Retail and Intime Department Store, reallocating resources to enhance its competitive edge in e-commerce and cloud intelligence [7][8]. - The company aims to integrate AI technology across all business segments, with a focus on innovation and market competitiveness [8]. Group 3: Future Outlook - Alibaba's leadership has indicated that the core strategic direction for the next three to five years will revolve around e-commerce and "AI + Cloud" [7][8]. - The company plans to increase investments in cloud and AI infrastructure to drive innovation and operational efficiency across various sectors [8]. - Alibaba is transitioning from an "internet company" to an "AI-driven technology company," positioning AI as a central competitive advantage [8].