WB - Earnings call transcript Q2 2021

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Operator

Good day and thank you for standing by. Welcome to the Weibo Reports Second Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. And after the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your first speaker for today, Ms. [indiscernible]. you. Thank ahead. go Please

Unidentified Company Representative

Welcome second operator. conference XXXX call. to you, quarter Weibo's earnings Thank

today Executive conference our and our IR Internet are Joining call through available Chief being on Financial Weibo's Fei and is also our Officer, Officer, Cao. is The call website. broadcast the Chief Wang, Gaofei

like Before with call. today's would you Safe to management the I Harbor the conference read remarks, statement connection in

and call, statements that conference today's beliefs are of we including historical facts, forward-looking statements During may statements, not our expectations. make

included involve results from statements statements. date cause on release other no in Weibo with this provided number in other conference to filings the report and law. of the important A SEC. press obligation in and required update this this information, Weibo's Forward-looking in obligation forward-looking of call inherent regarding and uncertainties. hereof. and to annual the update elsewhere. as risks except factors XX-F any All statements information as the Weibo information such no under assumes could applicable those to actual assumes occurring materially forward-looking differ risks is contained Further is

to like certain measures, certain that Weibo's of excludes and prospects. our remind discussion performance future non-GAAP measures and use today other a stock-based includes compensation non-GAAP We understanding better you which expenses. financial I'd gain Additionally, to comparative operating

our to expenses, release nature result core outlook. excludes more or and that our refer or losses, certain our indicative financials gains cash measures. are about not for of and future operating in to Our payments press our information non-recurring not are non-GAAP expected Please non-GAAP other items results or are in

to With would the over we'll a lines remarks, CEO, brief Gaofei like Q&A prepared this, session. the for our to management call Wang. open I turn Following

Gaofei Wang

quarter, June number competitive And approximately four front, in quarters. second In product user, mobile. strategy of XXXX. today's highlights addition [Foreign everyone. year-over-year and and ad front, the MAU cine million of our quarter adding XX% On marketing $XXX.X further XXXX, Weibo's share and monetization conference monetization [Foreign earnings DAUs call. user industries, Advertising I reached [Foreign you. among quarter revenues came which to the second net quarter-over-quarter and ad call, Weibo's and product an million highest our optimization XX of you the year-over-year. in reached in XX% recent Language] total users $XXX.X our reached year-over-year. represented came XXX Language] Weibo's [Foreign of Language] Language] MAUs Weibo's revenues XX% in revenues from XX June, reached On offerings On the of the leveraging million increase in second XXXX an and million respectively, XX% mobile. the increase Hello, will million, average XXX welcome for from Thank million with

retention between and reinforced Weibo's to with to Language] Our posting content hot user user consumption, as acquisition partners, of thereby product and $XXX.X Weibo's XXXX, better leveraging we progress in using investment cooperation Next, also engagement, [Foreign QX. Language] channel and Language] hot competitiveness. experience Coupled features our users Meanwhile, manufacturers channel investments from of as so social [Foreign platform front, Meanwhile, beefed engagement. enhance front, up features, strengthen social On we costs. and effective our base in partnership. user of let such product's focus have up with major video acquisition content and synergy create in such have retention the channel vertical major us not functions areas for both [indiscernible] improving and non-GAAP [Foreign me engagement video handset trends. further investment monetization the to increase of the areas ecosystems, Weibo user only and Weibo's our with but grown the and enhanced subsequent channel the product channel backed our user in our elevate in channel operating with income we and products on scale content in we further differentiated on with in the million the second made On from synergies [indiscernible], second in parties' users' channels quarter which further and we operators improving trends strategies, consumption, better starting to partnership advantage quarter. elaborate would our the consumption reinforce our and as reached mindset enabled key User

a and information the Weibo's year-over-year and than strategy front, features like acquire on On users levels. Weibo's Weibo's engagement thus [ph] doubled in interaction share among of business initiatives users' the channel number we with feeds with Q is product more key I'd group. from our in enhance Language] core our As result, user feeds, core information competitiveness, to key [Foreign you social video. and drive user nice On to and and XXXX partners

quarter, to see leading relationship-based of and our retention based content improved content, data consumption interaction further For social With thus stronger and consumption experience. diversity second the we're pleased fee. better significantly social relationship-based the we strengthened quality level, and in fee, higher attributes, the to on distribution mining social and

the on Super also see further TV optimize demand Weibo, robust Super and Topic shed front. products. gaming, stickiness our show on interest The rapidly grow light social quarter. and series, products based of in second driven fee only to our such users' demonstrating roadmap Topic not encouraged on has growth social product our the notable but DAUs in users as [indiscernible], campus continues variety we're to Particularly, verticals addition, to In

the fees in increased to year. launched system, accepting in the content of our content our We're accounts system, be program, based consumption second video, on will video users the and thanks of content second we for more recommendation quarter, consumption accounts generation on cultivating tech XXXX, advertised a video optimization mindset through ongoing hopefully for pleased new usage-based content made the in a through we our needs. fee, in users' half weight consistent. recommendation on visualization [indiscernible]. version trend for fees see are progress our thus further video Moving video we video focused For give in Language] further and of to serve interest-based interest-base visualization content the to revamped to which content using distribution program, video Meanwhile, accelerating to we [Foreign creators Leveraging in Weibo's Weibo among creators.

million more XX accounts As of number the surpassed million XX,XXX than which among followers. June, X of video over registered mark, already the had

among video efficiency, further content brought result, our as year, consumption text We're ad end feature original wider Top in video account creators the improve joint the in but inventory content us we and video lower to Weibo's recommendation incremental video distribution launched media KOLs especially stickiness streaming number recommendation around video of program top feeds, community in offers. and feature barrier used we're recommendations see overall Currently, in product the live an on feeds. in already regular submission effectively core mic its feeds. build The the under us in not our measure generation encouraged as and content continuously feeds and of and live [indiscernible] the number uplift best enhance community quarter see video this in of continuously such last a video which forth recommendation the On agencies also of capabilities IPs and and based growth a format quarter-over-quarter. accounts of to second streaming the the video could compared up than video picture have content the also to in more help functions. and users' video first streaming, recommendations live video traditionally pleased for to with those to refine generation consumption exposure quarter. enable a video fan optimize only for doubled As substantial to boost

[Foreign sectors. well traffic and efficiency we From XX% of growth increased our overall Leveraging our monetization, an industry-specific competitiveness. offerings of revenues perspective, recovery you marketing solidify Let and industry-specific live capabilities, ad set this improvements to sectors. so we will forward, and our recognition the edge from me In robust key year-over-year live key our we the quarter, Language] continue Language] for industry mic potential as of competitive our the the strengthen market benefiting competitive unleash brand scale monetization quarter. around edge progress feature strategies our engagement. IPs more [Foreign further with strengthen the share marketing drive our Looking products, app market, second color unique in on and to in monetization made improve XXXX, the as Weibo's in social demand further and of up streaming streaming key user deliver we'll Weibo's year-over-year ad joint as in investment

For capabilities, growth our in and sector half and in years a solid playbook and unique food thus improve our beauty the and personal upon experience such Weibo booked sectors marketing and our year. first these example, platform of of Based FMCG as key proposition, value has the ad developed beverage care and continuously refine service performance.

capabilities gaming and to serve performance we such the commercial also of addition as developed cross our brand e-commerce. the marketing have to brand needs In industry, sectors

On content as helped to sector. more to cellphone, and sectors. newly as games, driven in automobile engagement. [Foreign earned With and strong optimizing assets offerings social the also industry, both launched as enhance ad Weibo's ad offerings, used our leading such quarter, our front, content customers content in operation innovate growth FMCG, among We which differentiated service while recognition in from extended further and monetization ad gaming synergies products and On performance-driven Language] from XXXX, branding we customers, the purely the drive better sectors apart these product the discussions a their topic to to sales dollars continue be and we'll well as efficiency. have performance accumulate key feed second our teams, around to marketing marketing, marketing ad the gradually

content As with higher customers' needs. resonated ad as a tapped in offerings result, sector we gaming such marketing the wallet successfully greatly into

on and their billion the budget content related ad upon These Followers around within a content effectively over and half these Weibo. a accounts X.X raise of around example, month. game cumulative the entice marketing blockbuster and million official three discussions offerings half reached For to topics X by month times launch brand customers respectively. nearly of [indiscernible], increased views

let growth our ad maximize ad may feed In impact on departments with Weibo, the of Moreover, [Foreign launch products and half to we government industry. have Language] product, with efficiency. improve low, potential expect to our our rectification higher the regulation an spring refined ad basis. industry, spring proactive the That performance spring notable of such our eCPM of annual distribution advertising regulatory that as term, campaigns so as conversion such ad in on feed share approach capabilities overall revenue Our based manageable. on first driven on overall and better short matched traffic for Next, the we of the performance and of continue gradually capabilities advertising traffic performance-based accordingly. facing launch of a each XXXX, format, product gaming a for tightened we industries, relatively thoughts impact e-commerce, such performance contribution have me these revenue from leading impact In as industries our is on driven tech leveraging monetization taken to certain is launch said, customers. rectification

standards the the tier long on the on in In that impact the implemented believe overall regulation rigid of education. internet revenue the in entire emerging Also, in affected industry cut campaigns. for internet run, recent facing also their gradually the talk marketing facilitate of tightening customers requirements the efforts compliance market. thus, is back ad limited. deepen policies, education only the Internet formats ad let's will the face sector top We of half healthy we will the or in context customers such our companies wallet education our the more norm ad into X% with demands, growth K-XX our In even on and consumption about with of the educators industry, sector structure tap economy. less incremental sales to their first cease than quite further the exposure of take risk said, year. optimize light took steps of And That to total our and

solid update as quarter, alternative an headwind model training new pointed and let out delivers thus give and among attribution customers [indiscernible] and recognition Apple's earned potential Leveraging optimization, you policy our a we me last so results, far. our gradually. approach Finally, have

with let key and in and As we're of go our me recent expectation. Leveraging users Olympic been seen you such, upon from positioning to updates join the athletes' cultivation to the feared Weibo's discussion Lastly, during serve see ecosystem has Olympics-related less media as to user widely become our the take Olympic engagement impact for massive unique of as such opportunity as public [indiscernible] momentum conversation than media share the professionals, discussion Language] this to Weibo our [Foreign to encouraged well topics. Tokyo momentum topic strong Games. and on own we've on hot around and platform Built around find teams trends, and metrics, has Chinese for sports athletes, our accounts. years scale,

of the Furthermore, [indiscernible] interaction As in year on quarter. reinforcing the a third monetization July competitive moat us the traffic the result, the delighted [Foreign our in value high all half reached confidence based on XXXX, and in into we're first record Weibo's momentum MAUs, front, proposition. see unique Language] continuing giving to further

differentiated resonated such the to [Foreign greatly higher enabled athlete us year. customers trends the performance Fei good Games marketing brand instance, ANTA, me Language] marketing With well Cao let cross such featuring For With tap playbook opportunities Olympic incremental turn into their are call to as financial endorsements our wallet. momentum, and half to ad for the with in second a sponsors positioned social hot over the review. of that, which we capture and

Fei Cao

you, Weibo's call. to hello, Thank quarter Gaofei. everyone. And XXXX second conference earnings Welcome

pandemic million March respectively, metrics. well the of On the start with channel as conversation, during average in an the In public XXX surpassing effective Weibo's prior we Let's XXX net MAUS front addition and a million DAUs annual in notable had strength XXXX, on with reached outbreak. DAUs, quarters, basis, user XXXX level approximately a XX and MAUs XX June peak reacceleration investment. and million compared as million video our leveraging both serving initiatives

financials. Turning to

my results As remarks comparisons will old prepared year-over-year, a and non-GAAP unless on noted. a reminder, otherwise focus on

XXXX. Now, for a of million, end our Weibo's second $XXX.X XXXX reached $XXX.X margin EPS an the highlights Operating let XX%. operating XX%, XX%, Diluted of XXXX. revenues income of increase to quarter $X.XX me an quarter of exceeding XX%, walk financial to attributable representing nice increase $X.XX million, were high of increase of in was you Net through $XXX.X an net our million, of representing margin second guidance. second an was income Weibo quarter compared XX%. the

more revenues XXXX ad joint of $XXX.X XX% increased advertising give see marketing quarter for revenues, of high. delighted up $XXX.X record last On top total broad-based Weibo me to strength the Now, you reaching Weibo's scale let Mobile second color from on verticals. XX% revenues million. XX% growth revenues. and ad good approximately across We're user key revenue momentum, were million, ad monetization a year. delivered to with contributing

needs, plus top thus unique and the integrated three In serving e-commerce contribution, industry. its our terms products. of verticals Leveraging reinforced revenue XC incremental ad performance their to Weibo branding [indiscernible] FMCG, in into advertisers peak value were and season, proposition e-commerce tapped

hold luxury verticals sector's users of platform has Weibo the XC Generation growth From products ad go to as generation the perspective, continues ad and to ad social followed China. promoted largest and the consumption display next promoted such other topics. part, the of powering to become and for In the of hearts in growth, these the and capture trends minds were product be who terms fastest Z as offerings, by feeds

and conversion. merchants, among for native growth interest social and the resonated healthy customers topic leading greatly format ad Our and channels particular, our the brand a with for differentiated each traffic embracing exposure, with of products continued of from conversation product [indiscernible] promoted to utilized ad product growth competitive major to revenues spot and products, lead In marketing categories. sweet and delivered these ROI brands

ad deliver eCPM moderate basis. second trend we growth traffic year-over-year monetizable we rate. a to Alibaba the robust Additionally, the growth video of by demand and a terms Ad and slowdown video ongoing offerings. current XX% a optimization ad for also the in video $XX Overall where supply quarter content revenues upon increased penetration of was speaking, pleased incremental both driven with are built positive from dynamics, revenue ad higher on million, versus our of

earlier, Value-added Entertainment ad fluctuate our from from our may quarter, derived on to Alibaba November gaming both the acquired positions was highly trend as brands service, and increase communicated as in increasing generated platforms. XXXX, to correlated the strategies, VAS, Alibaba quarter to well merchants attributable ongoing million revenue cooperation $XX.X revenues of XX%, with its the that in spend digitalization Interactive second to from said, quarter. Company business. and primarily revenues As the well marketing an capitalize That own us general for value our and

costs to higher quarter the costs. marketing XX%. second and expectation. margin increase million, income up second expenses personnel to quarter due increased XX%, up of and costs expenses, an in spend to Turning related XX% year, and our for in from primarily last Operating $XXX.X step increase million. $XXX.X total was was exceeding were The Operating XX% the

We this operating good are run. will further by investment for our we pleased focus the with growth long a platform for development company's between in keeping the balance on and achieved efficiency margin and quarter performance

the to $XXX.X measure. compared last Turning year. quarter income million second compared Net million million, was last to expense to Income Weibo a to XX% representing attributable year. the income quarter net in was tax $XX.X a XX% GAAP $XX.X margin tax, for second of

balance and flow our cash items. to sheet Turning

of December activities million, $XX.X activities decrease and quarter to amortization second $XX.X equivalents cash activities. resulted first Capital expenditures billion the by and totaled As XXXX, offset operating compared short-term and to was XXXX half investment amounted depreciation million. million. $X.X the by as primarily $X.X and partially expenses of $X.X investments of was from June cash of by during The XX, XX, provided cash made was XXXX, Weibo's totaled operating billion In cash, XXXX. provided

revenues Lastly, let's let to anticipate XX% This the preliminary XX% book about on a subject third to now financial is Q&A to and With to change. We me increase our year-over-year our also of call XXXX Weibo's the that, the and by operator talk current for outlook. review, basis. reflects session. quarter currency turn constant over

Operator

Instructions]. [Operator

Chong line is the of Thomas First question of from Jefferies.

Thomas Chong

after also on I ads advertising pop-up the set revenue and that, the Congratulations question first assessment very strong on is about can strong second ads well together Language] And auto management guidance. as management a My in education as as the well outlook half of about our have questions. question my followed app three as results impact cautious [Foreign feedback. comment open our about regulations, in sector. drivers, more the such as pricing as inventory? growth about comment is property, And as with travel industry third well the about outlook. Can

Gaofei Wang

[Foreign about the of in year. all, Language] first second the answer me, question drivers the Let of of half growth the this

we though you XX% the we're period as we speaking. comparing we're see, growth. pandemic with to even overall of also, the in also talking low, growth, are the So, enjoying had the base was still same number that, And about performance and the year-on-year factor year, can XXXX, XX% had pretty last QX, if we a however, accelerating in

and As a performance. the is and also the of a the brand combination talking and especially can our talking topic abilities, marketing about of marketing marketing result, about focusing on strategy content capabilities, see that strong what you we and hot have especially commercial

growth more see not-that-promising digital And app. in that XX% very industries, we So, in what FMCG, industry, the enjoy example, XX% especially, you're those growth. which all is we growth. still on for kind good in and automobile, over almost of enjoy is of in pretty a we the to also, promising And and enjoy going also industries,

we sales amount of well, as focus you So, as those that and and is between performance see the as a lot products can really what and with on also especially targeting industries a synergy a result, combination brand and well. great

especially I And the the also, [Foreign also recognized the like particular been inventory aspects, this second method to the talking has of and would So, the ad. all, highly product by of comment Language] other on about customers.

also, ad even ad after are kind the also, the only for also the the video about all, cetera, July and talking high. that, good has are of see high we also, been can can the is this of we and about what created [Foreign the very the by Olympics, what a is video very talking reached the the first well, also talking marketing you we remark, particular for so combining we and see thing new inventory for of our recognized that, and Olympics. And traffic Language] and because can about the ad we're happened is So, this August, also direction branding the the product This growth. for third major and what further data. we also, a that for increase performance load, part our also already increasing and highly is good historical you customers the brand about consumption also And is and on drivers the that the you in another of well. also, of also is And et ad as in of future. still actually half, the price. had is that And traffic becoming products, related – which very content also in on mentioned the peak inventory not see as particular particular And the one Tokyo but

provided, the we the in like enjoying that also, the double-digit to ECM. especially like you about and half, that those Language] increasing So, also improvement estate, talked FST, the from gaming very have see planning industries, performance-driven we their we demand second of in performance real also over can of core been is to have the a half can others, were those factors our on since a happening and true And the also, e-commerce, the and of growth have we And ECM, as FenSiTong, the decrease especially also see is industry marketing see of growth the second on the [Foreign so, can we increased. what industries customers a in about technologies course, on that year, terms because you the good negative service optimized last us because of our seeing that education and plans. and some industries the also talking

education less about However, of only for than our only accounted example, as I X% total have industry already stated, product. for

So, true particular industry, the rectification some was of lastly, I [Foreign think I that impact ad, of this a that impact controllable. is also, the about talking big flash And or really whole Language] the think had of pretty the including ad the it pop-up over much so this Weibo. pop-up ad impact

factor in And that primarily reflected rate is majorly customers plan. influencing So, the those with performance impacting the has click that and reduced. the oriented actually been also,

However, on also effectiveness. focusing can that the still and what see branding major our you customers ad brand is are

So, exposure rather also, much percentage they about the would limited. more clicks. like wise, than to And care pretty it's

guidance [Foreign So, now own Language] strict Weibo's regulations QX that the think I most as performance, industry within and the have pop-up happening the truthfully much I in from the control already ad the industry. also, scope. and also all the reflected also evaluated impact the And a think perspective, in pretty is covering education that result, we

of without also QX been say stronger we So, a that and in those that half second enjoying kind should is higher effectors, of to and have XXXX. growth

new ad, over the pop-up models also perspective, new to actually however, from So, especially and better optimization about to going research the a we're recommendation the have algorithms. continue model, of the going the our still we're talking ad Weibo's

lowest For example, minimize try impact the to level. the to

so guidance So, the in not those future of that of them are phase, growth. kind for course, the plans we're research the implementation showing new and still in

Thomas Chong

again. Congratulations

Operator

Alex the Our Stanley. from of line of question is Ko next Morgan

Alex Ko

on the Congrats Language] [Foreign results. solid

a user had expectation Fandom. We're So, also in accelerated management front, recently following growth. aware rectification launched the Weibo of strong quarters. we quarter-to-date what Can quarter a with observed share the and the have on pace we on

the impact growth user that this the year? of and second would how traffic So, in half

Gaofei Wang

question, of the very talking and [Foreign the first I like – the of Language] on And users. to also, part the all, about especially also comment talking would about first future growth traffic

the as have focus So, since we also the cost well on invest users QX well. more the of as already also and retention and we last as to acquisition that going year, acquisition are stated users of

more all, first and other apps. been channels, as So, we as operators in well the of with collaborating also widely different of have terms brands those the

So, for the strategy about been is terms the user acquisition. the volume channel the from that et increased And next two cost optimization, user the also, thing cetera, we improvement as particular retention, well user of reducing over as been of this times. overall in the has have our

very So, is not is about number. based of in that paid can the see topic a can what over the on the as as we as particular And interest relationship increase result, that already have what we feed, can [Foreign as a as good Language] see of the terms we stated user the the users, growth have significant also, that investment improved total this into further that, area. is the growth products, see super talking kind of because of we generation of the well the engagement and also well and as also feed activity we a

example, also, users. happening, customers to hot events. events on super And to wider we important lot and are better going a we can for of those attention also have see focus discussion better of can Weibo and of topics comparing on on and more and and topics because a So, a the discussion videos, trap the trigger Weibo, offering also with big is or some short long those videos that we platforms

the good So, also the the the after that, that a Olympics, is and users volume. very users retention good result we very increase of can have actually on

that is can area QX result good in particular we So, in we pretty and see forward. also this even forecast what can a

user even and think So, have mentioned half second rectification you Language] retention long about [Foreign the of the Weibo something in actually the to we has to second though a for the also also, the high say to it's of And still, medium that is Internet all, quite also penetration, and in term. Fandom. user the Weibo grow already however, that, promising pretty

what So, this year, close this by starting pay Fandom made not from rectification over a actually and can attention you in paying if actually the but where from announcement Fandom the lot rectification industry. particular see we particular this started to Weibo, pay attention is attention started to do that we XXXX QX it start

So, operation those their is this are KOL we're well. Especially, say already that, and example, the for well agents, changing that managing area. as as we adjusting as particular fans to of

participate as energy-oriented as positive really we are KOLs encouraging those activities. So, activities in charity well to more those programs and

we've So, our some to that in platform focusing well one also, of already seeing announcements of the industry. launch much important Fandom. the and mid-year entertainment verticals, XX of of rectification been functions, say this the this been until new entertainment. of some which of is of is true on of of it a different to related last now, is that Weibo actually [Foreign publishing year also working kind a is Language] since the that of because kind of have that, ecosystem the And made user the year, that course, entertainment the of over is as we as last particular performance We And, happening those on the receive to of to and and something products. also adjustment as of as because did justification impacts pretty

accounts also also fans rectify cetera. also some this closing been the manage about, and QX the the to try is However, try the we've second for example, of and that talking also of half and et the year, year last thing content down KOLs, and to

accounted and XX% hot is very that hot used for now, for that only So, research that, QX topics would account hot be of this among say in But research about to entertainment XX% of good year, entertainment hot to about those XX%. the example to – searches. topics, accounted a and

also, So, whole really kind from to second that to of important platform years believe to has the important happening actively of in and trying the of and ecosystem have really the the this Language] the that also fluctuations industry. been try is understand pretty further entertainment say Fandom, XX is ups And already, XX witnessing trying or to rectification years industry. the impacts, half past against and this to optimized government post particular also, about requirements the a the try strengthen is understand been talking year regulation for we I rectification that, entertainment a as regulate already to do has. this what thing we have. the industry. upon downs regulation trend this we operating during also to a try think And QX, whole are been that and entertainment some world we've receive the of of but also, that to with and is And we that [Foreign the about ecosystem did the also also, very last collaborating And particular this much latest we Weibo communicated the latest until actively to that and so, regulate observe

very are we also proactively strategies. our So, changing and optimizing much operating

a beneficial cause. very internally, sustainable also whole So, also but a the not whole industry this on grow us to only the to regulate is helpful really regulate for good thing this to to industry and Weibo really is

Operator

of line Zhuang is question the from next Miranda of America. Bank of Our

Miranda Zhuang

of My more question Can video management video propositions? more Weibo's how business. expansion example, ad other elaborate the is the for content different you the For And the and video compete about creation monetization? with video the assistance category, content for provide video ecosystem? can also, distribution, value initiatives color of the and with does the the content on development on Weibo platforms

Gaofei Wang

talking whole we accounts all, And well also up creators and their ecosystem of video focusing have boost to much the on video of in encouraging of ecosystem, to pretty as accounts. consumption XXXX, development be our as opening further the that, stated the also, as supply are we the First products. will video the more about already the

So, the XX the of are as all exceeding reaching also as already had and followers we we video of XX,XXX stated them million. the threshold have already that million creators X

is see can nearly that kind in doubled is the consumption quarter we quarter, about [Foreign So, that, particular thing videos volume to of this videos. total say next that QX, created. we of Language] of And also, the the on

are the and the So, really and consumption as as as disseminate to to by the And media the kinds users images, important media the media cetera. other say the very KOLs really go consumptions we with and to which still of of the kind that knowledges advantage that social videos we Weibo consumption we can platform, et also text content those because topics, that well videos, that is along also you as is and as also, well. a are see also what consumption is of the also, triggering more what the platform. of that well encouraging one those and trigger is And the we other see a also you videos videos the leveraging are really of social as the to can around really more have

is are that are the we providing that best through diversify to Weibo. that to say we our So, trying content

also Olympics, good very not what short can is the that see all people's triggered only around product. much the as that that, videos, a during see example, as pretty videos, is a users So, well as we is also discussions the example video other and can the but the for by live you consumption streaming, around

Language] of is of of also, is differentiating we Weibo. that inventory. also good And and that So, the see with one ad increasing ads points us. us can what selling customers monetization, number their increasing post on the very see And also, strategies we more see the on to their can of our and of video also in unique accounts place also the [Foreign and contribution traffic, terms furthermore, ads a ad the major we

as the screen the well also enhancement the kind see the the we of ad, of advertisement. full of a with as placement of efficiency enabling So, more can

So, our on that the had ad of formats. in And ad about growth a QX, for say we total higher to format the enjoyed accounted than already now is and that, other the one-third video products the ad. of ad video

Operator

Thank you. All right.

conference like are I'd for management to to questions, hand back no there the the As further closing continue. remarks. Please

Unidentified Company Representative

you us quarter. joining you next See for Yes, thank today.

Operator

conference Thank Thank you. you today's concludes this call. participating. for And

now You disconnect. all

Weibo (WB) 18 Aug 212021 Q2 Earnings call transcript