Paid Services Revenue Surge
Paid services revenues were CNY 34.7 million, representing a 141% increase year-on-year from CNY 14.4 million, primarily driven by revenue generated from digital reading services offered through mini programs on third-party applications.
Cost of Revenues Decrease
Cost of revenues decreased by 15.1% to CNY 92.5 million from CNY 109 million in the same period of last year.
New Content Innovations and Partnerships
Phoenix New Media launched KCA Link and a new column 'Why It Is,' which garnered over 100,000 WeChat reads, reflecting robust engagement and social impact. These innovations have led to new commercial partnerships and increased brand trust and visibility.
Expansion in New Advertising Sectors
Despite challenges, Phoenix New Media expanded quickly in finance, e-commerce, consumer goods, and electronics sectors, achieving good progress.