Chinese News App Uses Clickbait & Cash Strategy
A new Chinese app called Qutoutiao has reportedly amassed 20 million daily readers using a pay-your-user strategy where readers can earn digital coins by reading clickbait articles and inviting other users to sign up.
It is said that the strategy of the Tencent-backed company is an example of financial incentives used by the new generation of Chinese internet firms that seek to establish themselves against much bigger players.
The news aggregator says that the strategy seems to be working as it was able to triple its daily users over the last year. It also reported a six-fold increase in its third-quarter revenue, mostly from advertising, which jumped to $145 million.