With the launch of Douyin Pay on January 19, ByteDance began to pave the way for the red envelope interaction during the CCTV Spring Festival Gala.
It was an unexpected opportunity.Four months ago, CCTV officially announced Pinduoduo as the exclusive red envelope interactive partner for 2021 Spring Festival Gala.Not long ago, the sudden death of Pinduoduo employees continued to rise, until the CCTV Spring Festival Gala “persuade”.
As with the preparations for the red envelopes, the official launch of Douyin Pay has been rushed, with no more than 10 banks currently available for binding.As the pace of the Spring Festival Evening is approaching, the probability of local banks will be added.
Both Tik Tok Pay and Bytedance’s previous consumer installment, “Rest assured Flower,” were provided by Wuhan-based Union Ebao Technology Co.At present, Douyin Pay can recharge, withdraw money and transfer money, free of service charge.
Since 2015, WeChat Pay won 200 million tied card users with 53 million yuan, CCTV Spring Festival Gala has become a new position for Internet companies to contend for payment expansion.Douyin’s use of CCTV Spring Festival Gala to expand financial users is no surprise.
Since 2020, Douyin and Kuaishou, two short video software, have become the only low-cost flow pool left in the Internet market with hundreds of millions of days of activity.With the consummation of the consumption scene of live streaming e-commerce, it is natural for the short video platform to use finance to realize.
The recent registration of trademarks such as “Douyin Pay” and “Douyin Yixin Fen” also suggests that Bytedance’s financial landscape will revolve around Douyin.
In 2019, the CCTV Spring Festival Gala attracted nearly 1.3 billion viewers across screens.In 2020, the total household audience rating of the CCTV Spring Festival Gala will reach 20.14 percent.Given the special nature of the 2020 Spring Festival, this rating means a lot more attention than 2019.
At that time, Kuaishou, the exclusive partner of the CCTV Spring Festival Gala, dominated the Apple App Store charts for several days.Even Douyin, which won the exclusive social media rights to the CCTV Spring Festival Gala, hovered in the top five apps for some time.
According to media reports at the time, Kuaishou will reach 200 million yuan per day by mid-2019, and CEO Suhua has given a KPI of 300 million yuan by 2020.The way to increase by 100 million yuan in half a year is to bid for the Spring Festival Gala.According to Caixin, Suhua personally led the bidding team, which made the highest bid of the network, and the total cost could reach as high as 4 billion yuan.This figure was denied by Kuaishou.
Kuaishou disclosed in its IPO prospectus that as of September 30, 2020, its average daily activity was 305 million yuan and monthly activity was 769 million yuan.In the era of Internet stock competition, a CCTV Spring Festival Gala can not only promote brand advertising, adding 100 million yuan of daily life, but also get rid of the negative labels such as vulgar content and killing time that short videos have been criticized before, so the cost performance is not bad.
But up to now, the demand of short video platforms for the gala has changed.