Technology

MoonFox Analysis | How WeChat Channels Burdens of Tencent’s Hopes for the Future Amidst Rapid Commercialization

Published

2 years ago

May 31, 2024

About us: Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products. As its sub-brand, MoonFox Data is a leading expert in data insights and analysis services across all scenarios, aiming to help companies gain market insights and empower precise decision-making.

SHENZHEN, China, May 31, 2024 /PRNewswire/ — I. Net Profit Soars by 50%, WeChat Channels Lead Tencent’s Growth

On May 14th, Tencent Holdings released its Financial Report for the First Quarter of 2024. The report shows that Tencent’s revenue in the first quarter was RMB 159.501 billion, increased by 6% YoY and 3% QoQ; While net profit was RMB 50.265 billion, increased by 54% YoY and 18% QoQ. Among its three major business segments, the Tencent Games business has not fully recovered, with revenue continuing to record a YoY negative growth in the fourth quarter. The businesses of Online Advertising, Tencent Financial Technology, and Enterprise Services maintained growth momentum, with the segment of integration of digital technologies and the real economy accounting for more than 30% of Tencent’s revenue for three consecutive years and becoming the largest contribution to Tencent’s revenue since 2022. Behind the growth of these segments lies the same contributor: WeChat Channels.

Having been launched for four years, WeChat Channels has now grown into the “Hope of the Tencent“. In its latest financial report, Tencent stated that services including WeChat Channels and Search Ads, Game Applet platform service fees, and Channels merchant technology service fees contributed to an increase in Tencent’s gross profit & operating profit that exceeded its revenue growth. Tencent’s Q1 gross profit increased by 23% YoY, with gross profit margin rising from 45% in the same period last year to 53%; operating profit reached RMB 52.6 billion, increased by 38% YoY.

In the first quarter of 2024, the total user’ usage duration of WeChat Channels increased by over 80% YoY. By expanding product categories and encouraging more KOLs to participate in live streaming, Tencent strengthened the retail streaming ecosystem on WeChat Channels. WeChat Channels is bearing greater commercial value, and its future potential should not be underestimated.

II. Four-Year Transformation for WeChat Channels: Commercialization Exploration and User Value Enhancement within WeChat

The growth of WeChat Channels is inseparable from the strong support of WeChat. According to MoonFox iApp data, in the first quarter of 2024, WeChat’s monthly active user(MAU) base reached 1.02 billion, an YoY increase of 4.122 million. In terms of user stickiness, WeChat’s average daily launches per user in the first quarter was 21.9 times, an YoY increase of 2.1 times.

Changes in WeChat MAU and Average Daily Launches per User in Q1 2024

MAU

Average Daily Launches per User

January 2023 – March 2023

1.014 billion

19.8 times

January 2024 – March 2024

1.018 billion

21.9 times

Data Source: MoonFox iApp;

Data Period: January 2023 – March 2023, January 2024 – March 2024

As a member of the WeChat ecosystem, WeChat Channels has been constantly drawing on WeChat’s strong vitality over the past four years, inheriting and expanding WeChat’s massive and deep user base. The continuous enrichment and optimization of WeChat Channels’ commercial functions have also brought about an increase in user engagement and interaction frequency, which in turn has contributed to the growth of WeChat’s user base and activity levels.

Regarding the exploration and expansion of WeChat Channels’ commercial functions, it initially facilitated private connections by integrating with WeCom, building a convenient communication bridge between users and enterprises. Later, with the addition of the “Products” tab, WeChat Channels introduced a brand-new shopping experience for users. Subsequently, the launch of content marketing functions transformed WeChat Channels into an efficient advertising platform for advertisers, while also providing users with more diverse content choices.

Timeline for WeChat Channel Launching Key Commercial Functions

Private Connection

January 2021: WeChat Channels integrated with WeCom (WeChat Work) November 2021: New version of WeCom enabled sending/receiving and
watching live streaming on WeChat Channels

E-commerce

May 2021: “Products” tab added to WeChat Channels homepage November 2021: WeChat launched “11.11” WeChat Channels Live Streaming
Shopping Festival

Content Marketing

June 2021: WeChat Channels Advertising Platform launched May 2023: Tencent Advertising’s full UV(Unique Visitor) bidding platform
upgraded, Auction Ads mechanism launched on WeChat Channels

Knowledge
Monetization

January 2022: Paid live streaming allowed replay viewing on WeChat Channels April 2022: It launched a knowledge live streaming column on WeChat
Channels

Local Life
Services

May 2023: It tested local life services on a small scale on WeChat Channels,
while adding the function of group purchase, voucher redemption in live
streaming rooms

Source: Public information, compiled by MoonFox Research Institute

In 2022, WeChat Channels took a step further into knowledge monetization by introducing paid live streaming, allowing creators to monetize their premium content while satisfying users’ demand for high-quality content. In 2023, WeChat Channels set its sights on the local life services sector, testing local life services and providing users with a more convenient and practical living experience.

III. Initial E-commerce Dividends, Multiple Operational Initiatives Accelerate WeChat Channels’ Commercialization Process

In 2024, the commercialization layout of WeChat Channels is accelerating, and the e-commerce business, as its important component, is unleashing enormous dividends. Previously, WeChat officially disclosed that in 2023, the GMV (Gross Merchandise Volume) of WeChat Channels achieved nearly a threefold increase, its number of orders grew by over 244%, and the product supply increased by approximately 300%. Among these, the proportion of brand GMV on WeChat Channels reached 15%, with brand GMV growing by 226% and the number of brands increasing by 281%; The growth of service providers scale was also very rapid, with over 3,000 ecosystem partners, and their GMV grew by more than 4.5 times within a year, contributing to over 35% of the overall GMV share. Compared to numerous competitors, WeChat Channels is currently in a period of UV dividends, with relatively low UV costs, which easily attracts a large number of small and medium-sized generic brand merchants to join the platform.

E-commerce Performance of WeChat Channels in 2023

GDP Growth

300%+

Order Growth

244%+

Product Supply Growth

300%+

Brand GMV Growth

226%+

Brand Number Growth

281%+

Number of Service Providers

3000+

Source: Public information, compiled by MoonFox Research Institute

WeChat Channels continuously roll out and refine various commercialization functions, gradually building a diversified e-commerce ecosystem and releasing more and more dividends for content creators, merchants, and users. The e-commerce business of WeChat Channels not only provides merchants with a new sales channel but also offers users a more diverse and convenient shopping experience. With the launch and optimization of more innovative functions in the future, WeChat Channels is expected to become an important platform connecting users, merchants, and content creators, further promoting the development and prosperity of the e-commerce business. It is reported that WeChat Advertising is currently testing a new capability that allows direct access to WeChat Channels Shop from Moments and Ads, bringing new UV growth paths for merchants operating the Shop.

Key Stages in the E-commerce Development of WeChat Channels

Function Updates – Building E-
commerce Infrastructure

Regulation and Governance –
Governing the Ecosystem
Environment

KOLs Operations – Resource
Support

May 2021: Added “One-
click to open the store”
function on WeChat
Channels, streamlining the e-
commerce process; November 2021: Optimized
user experience, allowing
WeChat Channels users to
view their “Orders”; December 2021: WeChat
Channels e-commerce
updated basic functions,
tested the “short video
shopping cart” through gray
box testing.

July 2022: Introduced
optimized rules for using
WeChat Channels
Storefronts, updating the
ecosystem rules for WeChat
Channels e-commerce; February 2022: Released a
new batch of Storefront
product quality inspection
standards, conducting
product quality inspections; March 2023: To rectify
irregularities in the WeChat
Channels ecosystem, non-
core products were removed
from WeChat Channels
Shop.

June 2023: To enhance
privacy protection, Tencent
initiated testing of virtual
account for WeChat
Channels Shop; July 2023: Launched the
Basic Tutorial for WeChat
Channels Merchant to
Increase Sales official guide
and upgraded the KOLs
incentive plan, entering the
resource support stage; January 2024: Tencent
Advertising released the
Guide for WeChat Channels
Merchant to Create Best-
selling Products and
Generate Massive Orders.

Source: Public information, compiled by MoonFox Research Institute

IV. Venturing into Local Life Services, New Blue Ocean Battle with Meituan and TikTok

On April 29th, WeChat Channels released policies for local life service merchants to join the platform, including two top-level categories of dining, tourism & hotel, with nine second-level categories such as full-service restaurants, fast food, bakeries & snacks, accommodation, and scenic spots. Currently, only chain restaurant brands are allowed to join the dining category, and there are also restrictions for the tourism & hotel category, such as the scenic spots in only AAAA-level and above to be permitted to join. In terms of fees, local life service merchants joining WeChat Channels in 2024 can enjoy a preferential 0.6% technological service fee for the entire year, which will later be restored to 2.5%, relatively lower than the 2% to 5% fee range for most e-commerce categories. The security deposit for categories is RMB 20,000, and the floating security deposit is charged based on a certain percentage of the total transaction amount within 30 days.

As the engine driving WeChat’s commercialization and Tencent’s revenue growth today, WeChat Channels shoulders the critical task of expanding its reach. The reason why the local life services sector has re-entered the sights of internet giants after the “thousand-team battle” and the “food delivery battle” have quieted down is quite simple: it is almost the last “blue ocean” in the domestic consumer internet market.

The appearance of WeChat Channels has intensified competition in the local life service sector. The advantages of WeChat Channels lie in its massive user base and the convenience of WeChat Pay. WeChat Channels can leverage WeChat’s social network to provide local life service merchants with more exposure opportunities. At the same time, the widespread adoption of WeChat Pay also makes it more convenient for users to consume on WeChat Channels. However, WeChat Channels also faces challenges. First, it need to find its positioning between TikTok and Meituan to avoid being caught in the middle of the competition. Second, it needs to figure out how to transition users from WeChat’s social scenarios to local life consumption scenarios. Finding its advantages in the competition and providing better services will be the main challenges that WeChat Channels is facing.

V. How Rapidly Growing UV Leads Brand Advertisers to Tap into Opportunities?

Fundamentally, all internet businesses are ultimately UV businesses. Especially as mobile internet dividends peak and UV costs continue to soar, finding new “blue ocean” has become a consideration for many brands, and WeChat Channels is precisely that rapidly growing market.

In the first quarter of 2024, the UV dividends of WeChat Channels allowed advertisers to see a new “blue ocean”. Previously, Tencent had mentioned that advertisers had a strong demand for WeChat Channels Ads, and it would gradually increase the advertising share of WeChat Channels in the future. According to the data released by Tencent, advertisers seem to favor WeChat Channels as well. In 2023, Tencent’s advertising business revenue reached RMB 101.5 billion, a YoY increase of 23%. Tencent stated in its financial report that the growth in advertising revenue was driven by new ads inventories from WeChat Channels and WeChat Search, as well as the continuous upgrades of its advertising platform. Among these, advertising revenue from consumer goods, internet services, and the healthcare industry increased significantly. Apart from WeChat Channels Ads, its live streaming is another potential arena, and compared to platforms like Kwai and Douyin, WeChat Channels is still in the early stage of development and has yet to produce its own top-tier KOLs. However, in the early stage, this also presents an opportunity for many small and medium-sized advertisers to overtake others, attracting a large number of mid-tier KOLs and brands to cash in on WeChat Channels.

At the same time, the official WeChat Channels team continues to roll out various incentive policies like introducing more UV. With a series of actions, the development of WeChat Channels will be further accelerated. For advertisers, this may present an opportunity to overtake others in live streaming e-commerce. With the upcoming 618 Shopping Festival, all parties are competing to layout their strategies, and it is expected that WeChat Channels will also introduce various incentive policies in succession, which will also be an opportunity for it to further flex its muscles and demonstrate its capabilities. This battle may attract more brands to join the platform. For the future, let’s wait and see what kind of results WeChat Channels will deliver in the next quarterly financial report.

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SOURCE Aurora Mobile Ltd

Technology

Technosylva Introduces First-of-Its-Kind Urban Conflagration Modeling for the Built Environment

Published

6 minutes ago

April 22, 2026

Significant enhancements deliver critical fire intelligence in the wildland-urban interface, helping utilities and emergency agencies protect lives and infrastructure

LA JOLLA, Calif., April 22, 2026 /PRNewswire/ — Technosylva, the global leader in wildfire and extreme weather science and technology, today launched major enhancements to its urban conflagration model that predicts how fires spread through populated areas and quantifies risk to buildings. The model addresses a key limitation of traditional wildfire science: much of it has focused on wildland areas, classifying urban areas as “non-burnable.” This limitation slows fire simulations at the community boundary, leaving fire agencies, utilities, and insurers with limited forward visibility into how fire will behave in populated communities.

Technosylva’s capabilities provide two notable wildfire modeling enhancements. First, the urban conflagration model simulates how fires will behave in the wildland urban interface (WUI), where characteristics such as structure density, vegetation encroachment, and fuel types result in fundamental differences compared to wildland fires. Second, the Dynamic Building Loss Factor provides unprecedented insight into the vulnerability of structures. This information enables utilities and agencies to undertake appropriate mitigations, such as asset hardening, undergrounding lines, vegetation management, and community education and engagement.

“Recent devastating fires have made one thing clear: populated areas face disproportionate impacts—and require greater focus to protect them,” said Bryan Spear, CEO of Technosylva. “Traditional wildfire models were designed for wildland fuels and fire behavior. Our approach builds on that foundation by showing how fires actually move through communities. By more accurately modeling the risks and consequences, utilities and fire agencies can make smarter, risk-based decisions to mitigate wildfire risks, communicate threats, maintain power, and better protect the communities they serve.”

According to a 2023 article in the Proceedings of the National Academy of Sciences [1], “community fire destruction has become a national crisis.” Recent disasters in Lahaina, Gatlinburg, and Marshall show why. Many communities aren’t built to withstand ignition, and once a structure catches fire, it can quickly spread flames and embers to neighboring buildings. The result is fast-moving, large-scale destruction with lasting impacts on entire communities.

Key Technology Advances Addressing Critical Industry Needs

Technosylva’s unique model was trained on a comprehensive database of WUI fires, examining environmental conditions, weather patterns, and fuel characteristics to understand the drivers of urban conflagration. One of the primary challenges in modeling fire behavior in the built environment is a limited number of historical fires upon which to draw conclusions and build scalable models. Technosylva’s modeling approach has overcome these challenges, effectively capturing the complex interactions between wildfire and the built environment.

Notable enhancements to Technosylva’s modeling approach include:

WUI Fuel Mapping: Development of 12 unique WUI fuel types that more accurately reflect the manner in which the infrastructure in the built environment becomes a fuel source for the fire. This is critical for understanding how the characteristics of the built environment impact the rate of spread, intensity, and speed of fires in the WUI.Dynamic Building Loss Factor: Machine learning models to capture expected building loss, leveraging characteristics such as structure characteristics and building age that drive vulnerability. Combined with assessments of topography, vegetation, and other building properties such as density and proximity to roads, this intelligence identifies not just whether a community is threatened, but the types of structures and conditions that result in the highest risk.Characterization of Fire Behavior Under Extreme Conditions: Calibrated to accurately reflect urban encroachment and fire spread rates in WUI environments—particularly during the most extreme events. Capturing fires that have historically been labeled as “outliers” is critical for utilities and communities to understand and prepare for potential worst-case scenarios.High-Resolution Weather Integration: Captures localized wind patterns, humidity gradients, and temperature variations at a scale matched to “neighborhood-level” fire behavior.

Large-scale urban fires were once rare, but in recent years their frequency and severity has increased dramatically. When wildfires reach communities, the “fuel” is no longer just vegetation—it’s homes and businesses. In Lahaina alone, a single urban conflagration caused an estimated $4 to $6 billion in economic losses. The consequences can be devastating for both life and property. Technosylva’s modeling has evolved to capture how fires spread through the built environment, enabling utilities and agencies to make more informed, risk-based decisions.

[1] https://www.fs.usda.gov/rm/pubs_journals/2023/rmrs_2023_calkin_d001.pdf

About Technosylva
Technosylva is the leading provider of wildfire and extreme weather modeling, risk mitigation, and operational response software. Technosylva’s market-leading solutions, enhanced by AI and machine learning capabilities, provide real-time and predictive insights into developing wildfire and extreme weather risks to support electric utility, insurance, and government agency customers. Founded in 1997, Technosylva has offices in La Jolla, CA, León, Spain, and Calgary, Canada. Learn more at www.Technosylva.com.

Contacts
For Technosylva:
Lucian Deaton
Senior Digital Marketing Manager
412620@email4pr.com

Colin Mahoney
Mahoney Communications Group
412620@email4pr.com
212.220.6045

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SOURCE Technosylva

Technology

Parks Associates: Roku (28%) and Samsung (23%) Dominate Connected TV Platforms, Controlling Access to Streaming Audiences in the US Market

Published

6 minutes ago

April 22, 2026

Data shows Amazon, LG, and Vizio hold smaller shares as platform control drives content discovery, advertising, and monetization

PLANO, Texas, April 22, 2026 /PRNewswire/ — Parks Associates’ latest US household research from the Streaming Video Tracker shows the connected TV platform market remains concentrated among a small group of leading operating systems, with Roku OS (28%) and Samsung’s Tizen OS (23%) accounting for the largest share of usage in US broadband households.

The firm’s data shows Amazon Fire TV, LG webOS, and Vizio SmartCast maintain mid-tier positions, while platforms such as Apple tvOS, gaming consoles, and Android TV hold smaller shares. This distribution reinforces the role of smart TV operating systems as the primary gateway for streaming content and services.

“Control of the platform layer is central to competition in the connected TV market,” said Michael Goodman, Director, Entertainment, Parks Associates. “Operating systems determine what content consumers see, how services are positioned, and how advertising is delivered.”

Recent trends highlighted in the research include:

Platform concentration: A small number of operating systems account for the majority of CTV (connected TV) usage, limiting visibility for services without strong distribution partnerships.Stable market share: Platform rankings have remained consistent over time, with Roku showing modest growth and Samsung maintaining a strong installed base.Advertising control: Leading platforms manage ad inventory, data collection, and targeting, shaping monetization across the ecosystem.Discovery and engagement: The TV OS plays a key role in recommendations, search, and user experience, influencing viewing behavior.

The data highlights the importance of platform ecosystems, as control of the TV operating system impacts content distribution, advertising revenue, and consumer engagement across the CTV market. With the growing role of AI in the TV OS for search and personalization, the importance of platform ecosystems is only going to grow in the coming years.

For more information, contact Mindi Sue Sternblitz-Rubenstein. Request information about Parks Associates’ Streaming Video Tracker.

Parks Associates will host the ninth annual Future of Video at the Marina del Rey Marriott in California, November 17-18.

About Parks Associates
Parks Associates helps companies identify new opportunities, refine strategy, and accelerate growth in connected technology markets through data-driven insights and industry expertise. With more than 40 years of experience, the firm delivers proprietary consumer and industry research, market forecasts, and strategic analysis that guide business decisions across personal, connected home, small business, and commercial technology ecosystems. Parks Associates supports clients in navigating evolving markets including AI, security, smart home, broadband, entertainment, energy, multifamily, smart buildings, and connected health.

The firm also fosters industry growth and collaboration by convening thousands of leaders each year through its flagship executive conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

Follow Parks Associates on LinkedIn, Facebook, and Instagram.

Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
412621@email4pr.com

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SOURCE Parks Associates

Technology

FINBOA Named Double Finalist for 2026 Banking Tech Awards

Published

6 minutes ago

April 22, 2026

FINBOA recognized in ‘Best of RegTech’ and ‘Best-as-a-Service’ categories

HOUSTON, April 22, 2026 /PRNewswire/ — FINBOA, Inc., a leader in process automation solutions for regulatory compliance in financial institutions, is proud to announce it has been named a finalist in two categories for the 2026 Banking Tech Awards: Excellence in Tech Awards. The company was recognized in the Best RegTech Solution category for its FINBOA BI-Disputes solution and in the Best “as-a-Service” Solution category for its FINBOA Treasury Onboarding solution. As a shortlist finalist, FINBOA’s software has been identified as an innovation leader in the U.S. Banking and RegTech space.

“Being named a finalist in two categories at the Banking Tech Awards is a strong validation of our mission to simplify and modernize complex banking operations,” said Raj Singal, CEO of FINBOA. “FINBOA Treasury Onboarding and BI-Disputes solutions were built to solve real challenges our bank and credit union clients face every day; such as eliminating manual effort, improving regulatory compliance and timely access to information to guide decision-making. We’re proud to see both solutions recognized for their impact and innovation.”

The FINBOA Treasury Onboarding solution was selected as a finalist in the Best “as-a-Service” category for providing intuitive automated workflows to replace manual, paper-based, and fragmented processes for new account setups. The solution accelerates account activation, shortens time to revenue, and enhances the commercial client experience, without requiring core system integration. Its zero-integration deployment model enables financial institutions to modernize quickly while minimizing operational disruption. FINBOA clients using the solution have noted the time-saving impact of process automation on their workflows. For example, First Oklahoma Bank’s Senior Vice President, Kristy Smith noted, “Within just two months, we transformed our Treasury Onboarding from a slow, manual process—relying on paper and email—to a fully digitized workflow. The feedback from both customers and staff has been overwhelmingly positive. FINBOA made that possible.”

FINBOA BI-Disputes, recognized in the RegTech category, extends the value of FINBOA Payment Disputes solution by transforming dispute data into clear, actionable insights through an intuitive interface that eliminates time-consuming manual reporting and provides instant visibility into detailed views of dispute information. The solution enables stakeholders to quickly generate audit and board-ready reports while strengthening compliance by tracking Reg E deadlines, provisional credits, and resolution requirements. Advanced fraud analytics provide insights on emerging trends and high-risk merchants, empowering financial institutions to make more confident decisions, reduce risk, and optimize dispute management performance.

The 2026 Banking Tech Awards celebrate excellence and innovation in the use of IT in financial services worldwide. Winners will be announced on May 28, 2026 at a special awards event in New York.

About FINBOA

FINBOA provides intelligent process automation software to banks, credit unions and service providers to simplify compliance processing by eliminating manual systems. Solutions include FINBOA Payment Disputes, FINBOA BI-Disputes, FINBOA Exception Management, and FINBOA Treasury Onboarding. FINBOA delivers transformative software proven to enable institutional growth by reducing operational costs and risk. Headquartered in Houston, FINBOA is trusted to help over 500 financial institutions nationwide achieve targeted business outcomes and peace of mind. Learn more at www.finboa.com or follow us on LinkedIn and X social media platforms.

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SOURCE FINBOA