Jinri Toutiao, meaning Today’s Headlines, China’s most popular news aggregator app, announced today (link in Chinese) an ad network dubbed Pangolin, shifting the already intense competition for web ad money amongst Chinese internet giants like Tencent and Baidu up another notch.
The company expects the ad platform to contribute to somewhere between 10% and 20% of its total revenue, different sources familiar with the matter told us, translating to between RMB5 billion or 10 billion in proportion to its up to 50 billion overall annual sales projection.
Industry insiders disclosed that, Baidu’s similar ad network pulls in around RMB8.5 billion to 10 billion, while for Tencent, the number is pegged at up to 9 billion.
– Toutiao is launching an ad network to compete with Baidu and Tencent for online ads money.
– Toutiao expects the new platform, Pangolin, to turn in between 10% and 20% of total revenue, or 5 to 10 billion yuan, annually
Editor: Ben Jiang