NetEase's "Knowledge Highway Platform" is about to be discontinued, with over 2 years of added value online | NetEase | Platform

Release time:Apr 14, 2024 05:48 AM

China Fund News reporter Yi Shan

More than two years after the high-profile official announcement, NetEase, an Internet powerhouse, once again failed to deliver short videos.

According to a recent official announcement, the NetEase Knowledge Highway platform will end its operation at 00:00 on July 27th. The platform was officially launched in January 2021 and was once referred to by NetEase as the "first knowledge short video creation platform in the entire network that empowers creators with topic selection scripts.".

It is about to be shut down and has only been online for over two years

Recently, NetEase Knowledge Highway Platform issued a notice of shutdown. Due to business adjustments, the operation of the NetEase Knowledge Highway platform will be discontinued at 00:00 on July 27, 2023, allowing this road trip to reach its destination.

NetEase's "Knowledge Highway Platform" is about to be discontinued, with over 2 years of added value online | NetEase | Platform

According to the announcement, NetEase Knowledge Highway stopped registering new users and uploading video content on July 13th. Starting from 00:00 on July 27th, after NetEase Knowledge Highway completely ceased operation, the website will be unable to log in, and the video content stored on the website will also be taken down and cleared. During the period before the cessation of operation, the platform had opened withdrawal entrances for creators and MCN institutions that had not yet withdrawn funds on NetEase Knowledge Highway.

For users who still want to continue publishing and disseminating creative content on NetEase products after the shutdown of the NetEase Knowledge Highway platform, the official stated that they can choose to use the registered account information of NetEase Knowledge Highway to log in to the NetEase account media open platform and continue publishing creative content.

According to data, as early as December 2020, NetEase launched the knowledge short video content consumer brand NetEase News "Knowledge Highway", and subsequently applied for multiple "Knowledge Highway" trademarks. Subsequently, on January 21, 2021, NetEase held an online video creator conference and announced its official investment in the video industry.

At the meeting, NetEase announced the launch of the "NEXT Creator Program", stating that it will support creators with "1 billion cash, 10 billion traffic, and 100 billion exposure". At the same time, NetEase has launched the so-called "first knowledge short video creation platform in the entire network that empowers creators from topic selection scripts" NetEase Knowledge Highway.

NetEase also has high hopes for the NetEase Knowledge Highway platform. According to the plan announced at that time, NetEase Knowledge Highway will serve as a platform for video content, comprehensively connecting five major scenarios: NetEase News, NetEase Cloud Music, NetEase Strict Selection, NetEase LOFTER, and NetEase Youdao, achieving "one-time storage and full NetEase distribution" of video content.

NetEase believes that user content consumption behavior has undergone a significant value shift, shifting from pure entertainment information stimulation to expanding horizons and enhancing knowledge reserves, hoping to gain more sense of gain from content consumption. NetEase CEO Ding Lei also bluntly stated at the conference that in the highly entertaining era of video content, only videos with knowledge, depth, and life have value. The evolution from interesting to useful is the core value orientation of NetEase video content.

However, after more than two years of operation, as NetEase's knowledge highway is about to go offline, NetEase's exploration in the field of knowledge short videos has also failed.

Short videos have suffered consecutive defeats, and games remain the main force

According to the Research Report on the Development of China's Online Audiovisual, as of December 2022, the number of online audio-visual users in China has reached 1.04 billion, surpassing instant messaging as the largest Internet application. Among them, the number of short video users reached 1.012 billion, accounting for 94.8% of the total internet users. The market size of the pan network audiovisual industry has reached 727.44 billion yuan, of which the market size of the short video field is 292.83 billion yuan, accounting for 40.3%, which is the main source of industrial growth.

The report also shows that obtaining news and learning related knowledge has become an important reason for users to watch short videos. Short video platforms have become the primary channel for netizens to obtain news and information.

So, why did NetEase's knowledge short video platform ultimately fail? The reason may be related to entering the game too late. According to a report from Forward Industry Research Institute, the explosive period of China's short video market was from 2016 to 2017. Since 2018, the market has entered a stable period, and short video platforms have begun to explore more diversified and deeper commercial monetization models. The data also shows that by the end of 2020, Tiktok and Kwai will have the absolute head advantage, and the number of active users will account for about 60% of the total.

At the beginning of 2021, NetEase made a high-profile official announcement of its launch on the NetEase Knowledge Highway platform, which was obviously more than half a shot late. Therefore, some industry insiders at that time also called it "catching a late episode". However, in fact, before the knowledge road of NetEase, NetEase had launched multiple short video products such as "NetEase Drama Elite", "Gulu Short Video", and "NetEase Pineapple Video" in its early years, but all of them ended in failure.

However, compared to the consecutive failures in the short video field, the advantage of NetEase's gaming business is still relatively obvious, and it is currently the company's main source of revenue. The first quarter report of 2023 shows that the company achieved a net income of approximately 25 billion yuan, an increase of 6.3% year-on-year; Among them, the net revenue from games and related value-added services was 20.1 billion yuan, an increase of 7.6% year-on-year, accounting for 92.7% of the total revenue.

In terms of gross profit, in the first quarter, the gross profit margin of NetEase Games and related value-added services reached 66.7%, compared to 59.1% and 62.2% in the fourth quarter of last year and the same period last year, both showing growth. NetEase pointed out in its financial report that the growth in gross profit of games and related value-added services was mainly due to the increase in online game revenue, such as "Egg Party".

From the perspective of game products, in addition to the first quarter mobile game dark horse Chicken rolls Party, NetEase said that its mobile games such as Dream Journey to the West, Dahua Journey to the West, The Fifth Personality, and Cold Against the Current all maintained high popularity. According to the latest research report from Guoxin Securities, as of July 10th, NetEase's "Peak Speed" and "Against Water Cold" both ranked in the top five on the free and best-selling iOS game charts in China.

On the other hand, with the continuous popularity of ChatGPT, domestic companies such as Baidu, Tencent, Alibaba, Huawei, etc. are focusing on big model business, while NetEase is also actively taking action, focusing on the research and development of AI big models. NetEase mentioned in its Q1 performance analysis that in the first quarter, NetEase continued to invest in self-developed key technologies such as AI big models, with a research and development investment of 3.7 billion yuan in Q1, accounting for 15% of revenue.

It is reported that NetEase has currently launched large-scale models for different industries in the fields of industry, education, gaming, music, and metaverse, and applied them to various scenarios. In addition, NetEase's self-developed AI technology has been applied to the entire process of game industrialization, and AI technology has improved the work efficiency of key links by up to 90%.

NetEase stated that in 2023, it will accelerate the exploration of a new digital content production model combining "AIGC+UGC", promote the long-term development of various businesses, and create more economic and social value. Ding Lei stated that "in the AI big model competition, the real winner is the enterprise that can choose a good application scenario", and "looking forward to 2023, NetEase will adhere to focusing on key technology research and development and content innovation, creating more excellent content products for the world, and promoting the innovative development of the digital industry".

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