Core Insights - Sohu reported a total revenue of $180 million for Q3 2025, representing a 19% increase compared to $152 million in Q3 2024 [1] - Marketing services revenue was $14 million, while online gaming revenue reached $162 million [1] Business Performance - The company focused on optimizing products and enhancing social operations, leading to improved synergy among its offerings [1] - Sohu hosted events such as the "2025 Sohu Video Autumn Broadcaster Conference" and the "2025 Sohu Video Dance Cover Competition" to expand brand influence and cultivate a thriving platform ecosystem [1] - The knowledge live-streaming IP "Zhang Chaoyang's Physics Class" successfully reached a wider audience through three live dialogues with scientists [1] User Engagement - The average monthly active users for PC client games reached 2.7 million, a 24% increase year-over-year and a 15% increase quarter-over-quarter [1] - The total number of active paying users was 1.1 million, marking a 27% year-over-year growth and a 19% quarter-over-quarter increase [1] - The growth in active and paying users was primarily driven by the launch of "Tianlong Returns" in July 2025, along with content updates and optimizations in recent quarters [1]

Core Points - Sohu's founder and CEO Zhang Chaoyang is conducting live English classes focusing on international news to enhance viewers' English speaking and listening skills [1][3] - The live classes are scheduled to air every Monday to Thursday at 12:30 PM, utilizing international news as a teaching material [1][3] Group 1 - The English classes analyze vocabulary, grammar rules, and the cultural context behind news stories, providing a comprehensive learning experience [3] - Recent topics include entertainment news, such as Tom Cruise receiving an Oscar lifetime achievement award, showcasing the integration of current events into the curriculum [3] - Sohu Video's "Focus Stream" offers a variety of content, including short video clips, vocabulary lists, and interactive sessions with experts from various fields like finance, technology, and culture [3]

Core Viewpoint - Zhang Chaoyang, founder of Sohu, emphasizes a cautious approach to AI, viewing it as an efficiency tool rather than a strategic core, while the industry rushes into AI investments [1][3][5] Group 1: AI Strategy - Sohu has not fully engaged in AI infrastructure and prefers to observe rather than invest heavily in AI models [1][3] - Zhang believes that the essence of social interaction should be prioritized over the pursuit of AI, advocating for rational cash flow management [3][5] - The company has historically avoided the hype surrounding AI, opting instead to consider purchasing applications from successful developers [3][5] Group 2: Company Performance - Sohu's revenue for Q4 2023 was $135 million, with total annual revenue reaching $598 million, and a net loss of $100 million [5][8] - The company has struggled to maintain relevance in the internet space, with its peak occurring during the 2008 Beijing Olympics [5][8] - Sohu's gaming business, primarily reliant on the aging title "Tianlong Babu Online," is declining, raising concerns about its sustainability [8][10] Group 3: Market Position and Future Outlook - Sohu's attempts to innovate through knowledge live streaming have not gained traction in a competitive market dominated by platforms like Douyin and Kuaishou [6][10] - The company lacks the resources to develop AI models from scratch, with a cash reserve of $1.32 billion insufficient for significant AI investments [8][10] - Sohu may benefit from integrating existing AI models rather than competing directly in the AI space, which could be a risky endeavor [10]

Core Insights - The World Internet Conference in Wuzhen highlighted AI as a core topic, with Zhang Chaoyang emphasizing that AI is fundamentally reshaping the paradigm of information retrieval [1][5] Group 1: AI and Information Retrieval - Zhang Chaoyang described traditional search engines as providing "houses" of articles, while AI offers "bricks" that can be combined to generate precise answers [1] - AI has shown remarkable accuracy in solving many physics problems, enhancing learning efficiency, and compensating for the limitations of human cognitive capacity [1][2] Group 2: AI's Role in Scientific Exploration - AI is seen as a significant driver of the new technological revolution and industrial transformation, with the potential to complement human inspiration in scientific exploration [2] - Zhang Chaoyang cautioned against over-reliance on AI, stressing the importance of independent thinking and memory for deep understanding [2] Group 3: Concerns about AI Content Generation - The rise of AI-generated content raises concerns about authenticity, particularly in areas like emotional communication and creative writing, where human touch is preferred [3][4] - Zhang Chaoyang noted the challenges posed by deepfake technology, including privacy violations and the need for legal frameworks to address these issues [4] Group 4: Global Information Sharing - The conference focused on building a community in cyberspace, with Zhang Chaoyang advocating for global consensus on shared information through the internet [5] - He highlighted China's internet landscape as a testing ground for global innovation and technology validation, particularly in AI [6] Group 5: Evolution of Internet and Content Consumption - The transition from PC to mobile internet and the evolution of content consumption methods—from text to video—illustrates significant changes in how information is accessed [6] - AI's role in content generation marks a new phase in the internet's evolution, transforming it into a foundational infrastructure for the digital age [6]

Core Insights - Sohu's current business focus remains on consumer internet, particularly in media and social aspects, with an emphasis on "Attention Flow" as a core social product [1] - Attention Flow is designed to create a premium vertical platform around PGC, UGC, and Vlog short videos, featuring diverse content types such as humorous, useful, and visually appealing [1] - The approach prioritizes interpersonal connections over algorithmic recommendations, aiming to avoid information silos and foster real-world social interactions [1] Attention Flow Ecosystem Development - Sohu Video is advancing its ecosystem through a dual-path strategy, enhancing real-life social interactions via offline events like spring and autumn broadcaster conferences [2] - The company is also diversifying its content ecosystem to boost user engagement, including the revival of its American drama strategy to enrich the Attention Flow ecosystem [2] - Sohu Video plans to combine short and long content formats, operating popular vertical short dramas while also producing horizontal short dramas [2]

Core Insights - Zhang Chaoyang, founder and CEO of Sohu, emphasizes the transformative impact of innovative technology on global industry structures, highlighting the shift towards an AI-driven and visual internet [2] - The World Internet Conference in Wuzhen focuses on building a community with a shared future in cyberspace, marking the tenth anniversary of this concept [3] - AI is reshaping the paradigm of information acquisition, moving from traditional search engines to more precise AI-generated answers [5] Group 1: AI and Internet Development - AI is becoming a crucial driver of technological revolution and industrial transformation, with the potential to enhance work efficiency and information retrieval [6] - The internet has evolved from PC to mobile, with significant advancements in bandwidth and content delivery methods, now incorporating AI for content generation [3][5] - Sohu is focusing on consumer internet, particularly in media and video social fields, with an emphasis on social distribution rather than mere content consumption [6] Group 2: Personal Branding and Entrepreneurship - The low-cost entry into the self-media space allows individuals to gain influence and create business opportunities through content creation [7] - Building a long-term personal brand requires deep engagement in one's passion and expertise, as short-term tactics are unlikely to sustain growth [7] - Zhang Chaoyang advocates for a proactive approach to life, emphasizing the importance of pursuing interests to realize long-term value [7]

Group 1 - The core viewpoint emphasizes the importance of integrating basic scientific research with industry, highlighting talent as the key connector between the two [2] - Zhang Chaoyang, as a pioneer in China's internet sector, believes that China's vast user base provides a testing ground for global model innovation and technology validation [2] - Current engineers in large enterprise R&D centers often rely on existing experience and lack deep understanding of technical principles, suggesting a need for talent with physics or basic science backgrounds to enhance innovation [2] Group 2 - Zhang Chaoyang remains optimistic about the potential of traditional internet development, particularly focusing on consumer internet in media and social aspects [3] - Sohu Video is building a core social product called "Attention Flow," which encompasses various content types, including humorous, useful, and visually appealing content [3] - The platform will restart its American drama strategy to enrich the Attention Flow ecosystem and will combine short and long formats in its content offerings [3]

Core Insights - Sohu is focusing on traditional consumer internet, particularly in media and social aspects, with an emphasis on "flow" as a key area of development [1][3] Group 1: Company Strategy - Sohu Video's "flow" is a core social product that builds a premium vertical platform around PGC, UGC, and Vlog short videos, covering diverse content such as humor, knowledge, and traditional dance [1][3] - The company aims to enhance interpersonal relationships through its social distribution path, distinguishing itself from algorithmic recommendations [3] Group 2: Product Development - Sohu Video plans to restart its American drama strategy to enrich the "flow" ecosystem [3] - The platform will adopt a "long and short combination" approach, operating popular vertical short dramas while also producing horizontal short dramas [3]

Group 1 - The core viewpoint is that AI is reshaping the way information is accessed, but humans should not abandon their ability to think independently [2][3] - Sohu will continue to focus on consumer internet, deepening its media and video social fields, and will restart its strategy for American dramas [2][4] - Zhang Chaoyang believes that China's internet advantage lies in its large user base, which provides a "testing ground" for global model innovation and technology validation [2] Group 2 - AI fundamentally changes the way information is organized compared to traditional search engines, with AI providing precise answers by combining basic units of information [3] - Zhang Chaoyang expresses caution regarding over-reliance on AI, warning that it may weaken human logical thinking abilities [3] - Sohu Video will emphasize a differentiated positioning of its "focus flow" product, which centers on "social distribution" rather than mere content consumption [3][4] Group 3 - Sohu plans to increase its procurement of American dramas and films, previously hindered by piracy issues, and will adopt a "long and short combination" strategy for content [4] - The company sees video self-media as a low-cost opportunity for entrepreneurs to gain influence, with a starting capital of around 100,000 yuan [4] - Success in the self-media field requires deep engagement in one's area of passion and achieving excellence, as competition is fierce [4]

11月7日，搜狐创始人、董事局主席兼首席执行官、物理学博士张朝阳出席2025年世界互联网大会乌镇峰会开幕式，于当天下午接受媒体采访，就人工智能 的发展路径、搜狐的核心战略聚焦，以及互联网创业机遇等热点议题分享见解。 张朝阳表示，创新科技重塑全球产业格局，互联网正迈入影像化与 AI 驱动的新阶段，"创新从不是突发奇想，而是对产品持续打磨、不断迭代的积累"。他 强调，未来搜狐也将坚守长期主义，助力互联网走向更有温度、更具价值的未来。 互联网共享促进全球信息交流 中国庞大用户规模成创新"试验场" 作为全球互联网领域盛会，本届乌镇峰会聚焦"构建网络空间命运共同体理念提出十周年"，以"共筑开放合作、安全普惠的数智未来——携手构建网络空间 命运共同体"为主题。十年来，共同构建网络空间命运共同体的理念日益深入人心。对此，张朝阳指出，全球共享信息的互联网，让资讯的传递和分享达到 了秒级，并像连通器一样连接全球，促进了人类之间的交流互通。从这个意义上讲，构建网络空间命运共同体应逐渐成为全球共识。 在张朝阳看来，中国互联网凭借其庞大的用户规模，为全球模式创新与技术验证提供了"试验场"。在这一规模优势下，中国互联网在算法推荐等领域 ...