On March 26th, Zhihu announced its financial results for the fourth quarter and full year of 2023. Data shows that in 2023, Zhihu's total revenue was 4.199 billion yuan (RMB, the same below), a year-on-year increase of 16.5%, and the net loss for the whole year of 2023 narrowed by 46.8% year-on-year; Among them, Zhihu's total revenue in the fourth quarter was 1.138 billion yuan, a year-on-year increase of 2.2%. In the fourth quarter of 2023, the net loss narrowed by 42.6% year-on-year, and after adjustment, the net loss decreased to less than 100 million yuan for the first time since going public.
At the financial level, driven by a diversified business model and a multi engine business strategy, Zhihu has achieved sustained two-way growth in quarterly and annual revenue. The To C business represented by paid reading and vocational education achieved significant growth. In the fourth quarter of last year, the revenue from paid reading business was 456 million yuan, a year-on-year increase of 13.3%, and the revenue from vocational education business reached 169 million yuan, a year-on-year increase of 100.1%. The revenue from marketing services business is 465 million yuan.
As of the end of 2023, the cumulative number of content creators on Zhihu reached 71.3 million, a year-on-year increase of 13.0%; The cumulative number of content on Zhihu reached 775 million, a year-on-year increase of 19.3%. In 2023, the average monthly active user (MAU) of Zhihu increased by 4.0% year-on-year. Meanwhile, in the fourth quarter of last year, the average monthly subscription membership of Zhihu reached 14.2 million, a year-on-year increase of 9.2%.
Zhou Yuan, founder, chairman, and CEO of Zhihu, stated, "In the fourth quarter of 2023, we successfully addressed a challenging macroeconomic and competitive environment, supported by a unique community ecosystem, and achieved significant revenue growth and efficiency improvement through a multi engine commercialization strategy. We also optimized our content strategy to consolidate Zhihu's position as a trustworthy community. We prioritize user experience and improve strategic execution, cost control, and overall efficiency, laying a solid foundation for achieving sustainable growth and continuously creating value for users and stakeholders."