A number of companies that own China’s major social media outlets released their Q2 earnings report in August. Looking at these reports we can get a latest update on the social media landscape in China.


On August 13th, Tencent released its Q2 financial results, which revealed that WeChat’s monthly active users (MAUs) rose 57% YoY to 438 million, or 11% QoQ. It is clear that the user growth has started to slow, however, as the app reaches market saturation in China.


Social Media Companies Update-1


Sina Weibo’s earnings report released on August 15th reveals that the company’s Weibo platform saw MAUs grow 30% YoY to 156.5 million, despite losing a lot of users to Wechat. Company revenue increased, primarily from advertising and marketing revenues which grew 99% YoY, although the company is still operating at net loss.


Besides Tencent and Sina, Renren announced its results which look much less optimistic. MAUs decreased 18.5% YoY to 44 million. The service now has fewer active users than it did 2 years ago.


Company performance also suffered from loss in gaming revenue which dropped 42.4% YoY, as gamers migrate to alternatives offered by Weibo and WeChat.


Social Media Companies Update-2