STOCKS | Nomura Says Douyin Overtakes WeChat in Monthly Usage Time in July

According to Jin10, Nomura's monthly report on China's internet and new media said Douyin's average monthly usage time per user in July surpassed WeChat for the first time, making it the top app in China by usage time. The report said ByteDance apps, including Douyin, Doubao, Hongguo, Fanqie, and Toutiao, accounted for 40% of Chinese netizens' usage time among the top 50 internet apps, up from 33.6% in July last year to 40.9% in July this year, compared with Tencent's 29.1% share, including WeChat, Sogou Input Method, Honor of Kings, Tencent Video, and Tencent Music. It also said WeChat remained the largest mobile app in China by daily active users at 931 million, while Douyin had 714 million, and that Douyin's daily active users surpassed WeChat in average daily usage time at about 112 to 120 minutes versus 82 to 85 minutes for WeChat.