Weibo Corporation (NASDAQ:WB) Q1 2020 Earnings Conference Call - Final Transcript
May 19, 2020 • 07:00 am ET
reported year-over-year user growth to-date, in terms of net addition of MAUs and DAUs. 94% of Weibo's MAU came from mobile.
This quarter amid the coronavirus outbreak in China, Weibo demonstrated indispensable value as a social media platform, leveraging unique strength, in setting public conversations between government, media and general public. We are delighted to see strong growth in both views and traffic to our platform, with feed refreshment growing 50% year-over-year. On the monetization front, advertisers in broad range cut back was suspended, as budget in response to the business disruptions resulting from the pandemic. [Indecipherable]. behind this impact, the pandemic has driven the transformation of the [Indecipherable] industry, and their marketing approach, presenting long-term opportunity to both our customers and us, coupled with the ramp up in traffic, Weibo is well positioned to further grow its social ad wallet in the long run.
In discussing our operating update for the first quarter, I will elaborate a progress made in areas of product monetization.
The strong growth in user traffic in March, was mainly driven by [Indecipherable] and public conversation related to the COVID-19 pandemic. To be specific first, it is typical season for Weibo to grow users and improve user engagement around Chinese Spring Festival. Second, in response to the pandemic, we will have to marshal operating resources and product development to enable wider dissemination of official information from government and media, bring professional opinion and discussion to the public. And more importantly, help general public receive quick response from government agencies. This initiative allow us to acquire users at a relatively lower, cost and further solidify our competitive edge in the market. [Indecipherable] elaborate.
In order to distribute timely update of the pandemic, Weibo has facilitated official information dissemination from over 70,000 media outlets and government agencies in the form of and live streaming and responding quickly to launch the COVID0-19 feed within recommended feed and discovery zone. In the first quarter, the pandemic relief held by media and the government reached nearly 6 million, with total views over 400 billion. On a daily basis, over 200 million users consume pandemic related content, among which 70 million users consume COVID-19 feed, and the daily views of pandemic related content exceeded 12 billion. Meanwhile, we along with TV news, verify nearly 1,500 new Weibo accounts of medical experts, medical care staff, patients and their family members, and help them accumulate approximately 150 million followers through content distribution on Weibo.
Second on local content, in the early stage of the pandemic, we brought proactive and encouraging platform to content creators to participate in the distribution and discussion around the pandemic related content, as the pandemic evolved, we will have diversified content also in [Indecipherable] users to initiating online events, with stay-at-home theme across eight verticals such as entertainment, food and humor, aiming to alleviate anxiety over the pandemic and encourage users to return to normal life. As a result,