Question · Q3 2025
Lu Qingshu from Goldman Sachs asked for an assessment of Zhihu's current user ecosystem status and insights into future product design directions and their progress.
Answer
CEO Zhou Yuan stated that the community ecosystem is healthy, focusing on content quality, user structure, and creator incentives. He highlighted double-digit growth in daily high-quality content creation for several consecutive quarters, with AI-related content showing double-digit growth for four quarters. User structure improved, with MAU stable for four quarters and average daily time spent growing double-digits year-over-year for six quarters. The creator ecosystem is expanding, with top-tier creators stable and AI tools lowering entry barriers for mid-tier creators. Future product direction is built on two pillars: utility (AI for efficiency) and identity (real human connection), aiming to make Zhihu a connection layer in the AI era.
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