Historicising Wanghong economy: connecting platforms through Wanghong and Wanghong incubators

ABSTRACT

Wanghong, short for ‘wangluo hongren’ (Chinese for ‘people who have gone viral on the internet’), is often used as the vernacular term for influencers and microcelebrities in China, which are increasingly defined by their acute ability to convert internet viewer traffic to money with diverse economic models in its contemporary context of wanghong economy. This essay historicises the emergence of wanghong economy in which both the meanings and practices of wanghong are being produced and reproduced and it examines how wanghong economy’s developing trajectory and economic models are underpinned by the strategic expansion of major domestic platform companies. Using the leading wanghong incubator, Ruhnn Holding Limited, as a case study, this essay deconstructs the profitable model of e-commerce wanghong that is widely adopted so far as a prototype across the wanghong industry. Such value chain integrates advertising and e-commerce and it further connects two powerful platforms, Weibo and Alibaba, by facilitating a transplatform business ecosystem that benefits, and is promoted by, both companies.

KEYWORDS:

• wanghong economy
• Chinese internet
• Alibaba
• Weibo
• Tencent

Disclosure Statement

No potential conflict of interest was reported by the author.

Notes

1. Third-party advertising revenue excludes revenue received from Alibaba or Weibo’s parent company, Sina Corporation. Source: Weibo’s annual report 2015–2018.

Additional information

Notes on contributors

Xiaofei Han

Xiaofei Han is a PhD candidate in Communication and Media Studies at Carleton University, Ottawa, Canada.