While China’s more affluent consumers increasingly favor independent travel, the online holiday and group tour booking market is still showing rapid growth, likely driven by continued expansion of the middle class in China.
Momo, one of the top social networking mobile app, monthly active users (“MAU”) reached 91.3 million in June 2017, compared to 74.8 million in June 2016 according to its financial results.
Alibaba Group reported total revenue of RMB50,184 million (US$7,403 million) for Q2 2017, an increase of 56% year-over-year. Tmall recorded 49% year-over-year growth for physical goods GMV.
The total number of monthly active users on WeChat reached 963 million, an increase of 19.5% YoY according to Tencent’s latest financial results. QQ MAUs dropped 3.9% to 662 million.
For the second quarter of 2017, Weibo reported net revenues of $253.4 million and 361 million monthly active users.
China’s search engine market totaled 23.57 billion yuan (US$3.47 billion) in Q2 2017 with an increase of 25.6% QoQ or 12.2% YoY according to Analysis. Baidu has 77.2% market share in China’s search engines market by total revenues, followed by Google China (9.66%) and Sogou (8.69%).
Baidu’s total revenues in the second quarter of 2017 were 20.874 billion yuan ($3.079 billion), a 14.3% increase YoY. Mobile revenue represented 72% of total revenues for Q2 2017, compared to 62% in Q2 2016.