China: ad revenue share of internet giants 2021

For some Chinese internet giants, online advertising is their major revenue source. In 2021, the Twitter-like platform Weibo reported that 93 percent of its annual revenue came from the online ad business. In comparison, the figure for e-commerce giant Alibaba stood at 38 percent while the social media and gaming titan Tencent generated only 16 percent of its revenue from online ads.

Share of online advertising in annual revenue of the internet giants in China in 2021

Characteristic	Ad share in total revenue
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Release date

March 2022

More information

Region

China

Survey time period

2021

Special properties

the ranking is based on the companies' ad revenues.

Supplementary notes

*Alibaba reports its annual results in March each year. The ad revenue here was shown as client management revenue from March 2021 to March 2022. Since September 2020, Alibaba has included the commission revenue as a part of its client management revenue.

**The ad revenue of iQiyi was excluded in Baidu's revenue;
For JD.com, the ad revenue included commission and marketing service revenue whereas advertising accounted for a major part;
For Pinduoduo, the ad revenue share included revenue from other segments.
For Zhihu, the ad revenue was the total sum of the ad revenue and business content solution revenue.

Only companies which have included advertising and marketing as a part of the main business development and have disclosed the relevant revenue clearly in the financial reports are listed in this ranking.

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