Company: FENG
Filing Date: 2025-04-18
Form Type: 20-F
Source: 0000950170-25-055759
Chunk: 98

Company: Phoenix New Media Ltd
Filing Date: 2025-04-18
Form: 20-F
Item: Item 5
Chunk 98
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             100.0               703,695               96,405             100.0
We derive our revenues from advertising services and paid services.

Advertising Services. Our net advertising revenues accounted for 88.7%, 89.5% and 89.6% of our total revenues in 2022, 2023 and 2024, respectively. We generate our net advertising revenues from payments made by advertisers to place their advertisements on our ifeng.com, mobile Internet websites i.ifeng.com and our mobile applications and third-party platforms in different formats over a particular period of time. Such formats generally include but are not limited to banners, newsfeed, videos, text-links, logos, buttons and rich media.
Advertisers purchase our advertising services primarily through third-party advertising agencies. Currently the advertising business has three main types of pricing models, consisting of the CPD model, the CPM model, and the CPC model. We recognize advertising revenues on a net basis after deducting service fees earned by advertising agencies and the VAT and the cultural development fee.
We also earn advertising revenues from related parties, including Phoenix TV, for joint TV and online advertising solutions that we provide together with Phoenix TV to certain Phoenix TV advertising customers, China Mobile Communication Corporation, or China Mobile, and our investees for online advertising services. We also record these revenues as net advertising revenues earned from related parties. Our net advertising revenues earned from related parties accounted for 2.4%, 1.6% and 6.5% of our net advertising revenues in 2022, 2023 and 2024, respectively.
Paid Services. Our paid services revenues contributed 11.3%, 10.5% and 10.4% of our total revenues in 2022, 2023 and 2024, respectively. The following table sets forth our paid services offerings and their respective contributions to our paid services revenues and total revenues in 2022, 2023 and 2024, respectively.
 
                                                                                                                                  For the Years Ended December 31,
                                                                                       % of Paid Services Revenues                             % of Total Revenues
Paid Services Revenues                                         2022               2023                2024               2022            2023            2024     
Paid contents                                                                                                                                                     
Digital reading, audio books and other content-related sales          38.0                48.0                63.7             4.3             5.0             6.6
E-commerce and others