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<Research>CLSA: AI App Race Heats Up, Juicing Ads Spending Growth
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AI apps have become a key driver of ads spending growth in China, CLSA published a report as saying. Various parties are wrestling for user traffic and attention to establish their dominance in the AI era. The broker expected the annual ads spending for AI apps to reach several tens of billions of RMB this year, representing a YoY growth of 60-70%. The rising cost of user acquisition is enhancing the revenue and margins of ads platforms. ByteDance and TENCENT (00700.HK) are leading the growth in ads revenue given their excellent inventory scale and cost efficiency, CLSA said. Baidu (BIDU.US) and KUAISHOU-W (01024.HK) are also benefiting but facing challenges in inventory and conversion. Weibo (WB.US) and FOCUS MEDIA (002027.SZ) mainly focus on brand ads, with FOCUS MEDIA occupying a unique position in offline ads through its collaboration with Alibaba (BABA.US). AASTOCKS Financial News URL: www.aastocks.com |
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