With the launch of 7 new products, Meitu continues to use AI
Meitu will launch new products, the 6th generation in 2022 and the 7th generation in 2023, at two consecutive Meitu Image Festivals. On June 19, 2023, Meitu launched 7 new products including the AI visual creation tool WHEE. They target different user groups and have different product forms, but they all revolve around AI. At Meitu’s new product launch in 2022, the theme was SaaS (software as a service), and the company’s SaaS and related business revenue increased by 1093.2%. If we continue to trace back, in the early years, we launched mobile phones, socialized, and played short videos. In recent years, we have speculated in currency, toB, and pursued AIGC (artificial intelligence generated content). Beautiful pictures are always at the forefront. Because of its “fickleness”, Meitu is often questioned and a hot topic. A few months ago, there was a screenshot of a chat claiming that Meitu Xiuxiu was experiencing an AI crisis. At the same time, Meitu is often used as an example of tool applications breaking through the circle.
"Application of Imaging Productivity Tools in the AI Era" is the theme of Meitu's second Image Festival. Meitu released new AI-related products at the Image Festival on June 19. Specific include: AI visual creation tool WHEE; AI spoken video tool for shooting; desktop AI video editing tool WinkStudio; Meitu Design Studio 2.0, which focuses on AI commercial design; AI digital human generation tool DreamAvatar; Meitu AI assistant RoboNeo; Meitu MiracleVision, a large visual model.
What was highlighted was Meitu’s large visual model MiracleVision. According to Meitu CEO Wu Xinhong, Meitu integrated its long-term accumulated aesthetic knowledge into MiracleVision and built an aesthetic evaluation system based on machine learning to mark the results of the model generation. "Aesthetic score" to continuously improve the model's understanding of aesthetics. MiracleVision has visual expression and creativity, and infers technological evolution from visual creation scenarios such as painting, design, film and television, and is good at Asian portrait photography, national style and trend, commercial design and other generation directions.
Meitu’s main service areas in the past were life scenes, such as photography, image and video editing, and social sharing. In the AI era, in addition to life scenes, Meitu will provide more productivity scene services." Wu Xinhong introduced that the so-called life scene tools include shooting, photo editing and video editing, and social sharing products. Productivity scene products involve visual creation, Commercial photography, professional video editing, commercial design.
"Providing more productivity scenario services means that Meitu will provide more production (revenue)-related scenarios for C-end users and small B users, such as improving the productivity of self-media creators or small and medium-sized companies. This kind of Improvement can help Meitu expand to more enterprise users, increase usage scenarios, enrich Meitu’s commercial monetization possibilities, and become the basis for future product charging. It can also promote Meitu to enter the AI track, giving companies and investors more imagination. space," Wang Qinglin, senior analyst at iiMedia Consulting, told a Beijing Business Daily reporter.
Strictly speaking, Meitu has already entered the AI track, and its AI-related products are not limited to the above-mentioned new products. Search for AI on the Meitu WeChat official account, and related content first appeared in 2017, when Meitu’s mobile phone business was in full swing. , when the interim results were released in 2017, Wu Xinhong introduced that Meitu T8 and M8 mobile phones are equipped with Meitu’s latest AI beauty technology. He said that for the start-up advertising business, the combined application of visual AI and big data will become the top priority in the next stage.
Since then, Meitu has begun to integrate AI functions into its product introductions more frequently, and even launched a series of columns titled "AI in Meitu" to introduce these functions. However, every time Meitu adjusts its direction in the past few years, it is often accompanied by doubts. Some people think that Meitu has not taken advantage of the first-mover advantage of short videos, and some people think that Meitu's "beautiful strategy" is too empty. A few months ago, there were screenshots of chats claiming that Meitu XiuXiu was experiencing an AI crisis.
In response, Chen Jianyi, product manager of Meitu, responded on June 19: AI has brought more image innovation opportunities to Meitu and has achieved steady growth in user scale. This information has also been confirmed, because as of June 18, the number of Meitu’s global VIP members has increased to 7.19 million. He added: “Some image effects that previously required months of research and development can now be completed in just a few weeks due to the application of artificial intelligence technology.” We attach great importance to the opportunities that AI brings to Meitu imaging innovation and go all out to seize them.
However, Meitu did not separately disclose the revenue data contributed by AI, and the outside world can only get a glimpse of it through the financial report data.
When the 2022 financial report was released, Meitu was related in this way. With the blessing of AIGC, Meitu's VIP subscription business achieved revenue of 782 million yuan in 2022, a year-on-year increase of 57.4%. SaaS and related business revenue increased by 1093.2% year-on-year to 463 million. Yuan. By business, Meitu’s VIP subscription business, SaaS and related businesses achieved revenue growth in 2022. Internet value-added service revenue was basically the same as the previous year. Online advertising, IMS (Master Content Marketing Solution) and others Revenue has declined to varying degrees. Overall, Meitu's revenue in 2022 will be 2.085 billion yuan, an increase of 25.2% over the previous year, and its adjusted net profit will be 111 million yuan, an increase of 29.9% over the previous year.
Beijing Business Daily reporter Wei Wei
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