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B站更懂“崩年轻人”

王铁梅 2026-06-10 14:08
王铁梅 2026/06/10 14:08

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本文核心干货是揭露B站在用户增长见顶后,依托自身年轻用户存量,打造了一套完整的年轻人情绪变现系统,主要内容如下:

1. 变现套路:电商端B站会员购暂停第三方入驻,主推自营擦边手办,这类商品多带有性暗示元素,定价50-200元,刚好适配年轻人冲动消费门槛,部分商品已有上万人加购,正规手办毛利率达50%-70%,同时结合魔力赏盲盒抽盒机制放大消费冲动,魔力赏已占B站电商营收的80%。

2. 全场景覆盖:直播区ASMR等板块靠性暗示内容吸引用户打赏,B站舰长最低包月138元,平台抽成一半,和“崩老头”逻辑一致,都是靠情绪刺激实现小额高频变现;信息流广告采用双标题,用擦边诱导标题博点击,跳转后显示正常内容,靠AI算法提升点击率。

3. 风险提示:B站是未成年人使用率前三的平台,这类灰色内容对未成年人成长有不良影响,且参考快手先例,这种变现模式长期无法解决增长问题,走不通。

本文分析了存量内容平台的商业化新动向,能给品牌商的营销、产品布局提供多方面参考,核心干货如下:

1. 消费趋势参考:当下年轻用户存在明显的边缘性情感需求,情绪消费、冲动消费空间大,小额高频的定价策略更容易撬动用户付费,50-200元是年轻用户相对容易下单的价格区间,适合做冲动型消费品定价。

2. 营销技术参考:当前内容平台流量分发以点击率为核心指标,依托AI的动态创意优化能有效提升广告投放效率,B站借助AIGC工具优化后,广告点击转化率CTCVR同比提升25%,这套玩法可适配到品牌自身的广告投放中。

3. 风险提示:靠擦边内容拉动增长的模式属于灰色地带,快手曾因类似问题被监管处罚1.19亿元,后续直播收入同比下滑13.5%,品牌绑定这类平台需要警惕合规风险,优先选择合规经营的平台合作。

本文披露了B站当前的商业化政策和平台动向,能给想要在B站经营的卖家提供参考,核心干货如下:

1. 电商入驻政策:当前B站会员购已经暂停了新的第三方商家入驻,仅允许此前已经入驻的商家正常经营,平台现在重点推自营业务,想要新入驻B站电商赛道的卖家短期内没有进入机会。

2. 流量投放经验:当前B站商业化压力较大,广告流量分发以点击率为核心考核指标,算法会优先推荐更能调动情绪、博眼球的标题素材,依托AIGC工具优化投放精准度,卖家做B站广告投放可以适配这套逻辑提升曝光量。

3. 风险提示:B站当前靠擦边内容拉动变现的模式游走在灰色边缘,已有快手先例,因类似擦边问题被监管处罚后收入大幅下滑,后续B站大概率会面临合规监管收紧,入驻卖家需要提前做好应对准备,警惕政策风险。

本文分析了内容平台电商的产品需求和商业机会,能给做手办、周边产品的工厂提供参考,核心干货如下:

1. 产品需求方向:当前年轻用户对手办等文创周边有明显的情绪消费需求,符合用户情绪刺激的产品更容易拉动冲动消费,这类产品适合定价在50-200元区间,走量空间大,正规渠道手办的毛利率普遍能达到50%-70%,利润空间十分可观。

2. 商业合作机会:B站会员购目前停止第三方商家入驻,全程主推自营商品,需要上游工厂供货,符合产品要求的工厂可以对接B站自营团队,依托平台的流量触达年轻用户,获得稳定的销量。

3. 发展启示:工厂做面向Z世代的产品,需要结合内容平台的用户特征调整产品设计,适配年轻用户的情绪需求,同时必须关注内容合规性,不要触碰监管红线,避免产品被叫停带来生产库存损失。

本文披露了存量内容平台行业的发展新动向,能给服务内容平台的服务商指明方向,核心干货如下:

1. 行业发展趋势:中国互联网平台已经进入存量竞争阶段,所有平台都在从增量争夺转向挖掘存量用户价值,情绪变现、AI优化广告投放是当前平台商业化的核心方向,相关服务需求会持续增长。

2. 客户核心痛点:当前多数内容平台都面临用户增长见顶、传统业务增长承压的问题,都需要提升单用户贡献价值和广告变现效率,对AIGC智能创意工具、精准分发技术、用户价值挖掘工具的需求十分迫切。

3. 行业机会与风险:帮助平台做广告创意生产、动态标题优化、精准用户触达的服务商,会获得更大的市场空间;同时要注意擦边变现模式不可持续,服务商需要提前布局合规的商业化服务方向,避开灰色赛道的风险。

本文以B站和快手为案例,总结了存量时代内容平台商业化的经验教训,对其他平台商有较高参考价值,核心干货如下:

1. 平台共性困境与通用做法:当前多数内容平台都面临用户增长见顶、传统业务承压的共性问题,都需要提升存量用户的ARPU值。B站的通用做法是:暂停第三方电商入驻,主推自营高毛利商品,绑定情绪内容加盲盒机制做变现,广告端用AI动态创意优化提升点击率,推出默认开启的可暂停贴片广告,平衡社区体验和商业化收益。

2. 风险教训:快手早年靠擦边内容拉动打赏增长,最终因低俗内容问题被监管处罚1.19亿元,整治擦边内容后,2026年一季度直播收入同比下滑13.5%,创下16个季度新低,说明靠游走灰色地带拉动增长的模式不可持续,不仅会面临监管处罚,还无法解决根本增长问题。

3. 发展启示:平台想要解决存量增长问题,不能靠透支用户信任、触碰监管红线来实现,需要主动寻找合规的新增长支点,开辟新的业务曲线。

本文揭露了存量互联网时代内容平台商业化的新动向、新问题,为产业研究提供了典型案例,核心干货如下:

1. 产业新动向:当互联网平台进入存量竞争阶段,平台从争夺增量用户转向收割存量用户的情绪价值,已经形成了一套完整的情绪变现模式:这套模式借鉴了网络灰产“崩老头”的底层逻辑,就是通过情绪刺激+小额高频+概率机制撬动冲动消费,只不过目标用户从“老头”转向了B站的年轻用户。

2. 新暴露的问题:数据显示B站在未成年人常用平台中排前三,未成年人使用率达29%,平台推广的擦边内容对未成年人身心健康有不良影响;同时信息流广告的双标题模式,本质是诱导点击,侵犯了用户的知情权,游走在合规监管的边缘。

3. 研究价值:快手的案例已经证明,灰色变现无法解决存量平台的根本增长问题,平台最终还是需要寻找合规的新增长支点,这为研究存量互联网平台的商业化转型路径提供了极具价值的观察样本。

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Quick Summary

This article reveals that after hitting its user growth ceiling, Bilibili has built a complete system for monetizing young users' emotional needs based on its existing young user base. The key findings are as follows:

1. Monetization tactics: Bilibili’s e-commerce channel Member Purchase has suspended third-party merchant onboarding, and prioritizes self-operated suggestive figurines. Most of these products carry sexual overtones, priced between 50 and 200 yuan, which perfectly fits the threshold for young users' impulsive consumption. Tens of thousands of users have added some of these products to their carts. Legitimate figurines deliver a gross margin of 50% to 70%. Combined with the blind box draw mechanism of its "Moli Shang" (Magic Lottery) feature, the platform amplifies impulsive spending, and Moli Shang already accounts for 80% of Bilibili’s e-commerce revenue.

2. Full-scenario coverage: The ASMR and other sections in the live streaming area attract user gifting with sexually suggestive content. Bilibili’s "Captain" (monthly live stream subscription) starts at 138 yuan per month, with the platform taking half of the revenue. This follows the same logic as the "scamming elderly men" gray industry scheme: it achieves small-ticket, high-frequency monetization through emotional stimulation. For in-feed ads, Bilibili uses double headlines—suggestive clickbait titles drive clicks, while the landing page shows normal content, with AI algorithms boosting click-through rates.

3. Risk warning: Bilibili ranks among the top three platforms most used by minors. Such gray-area content negatively impacts minors' development. Following Kuaishou’s precedent, this monetization model cannot solve long-term growth problems and is unsustainable.

This article analyzes new commercial trends among mature content platforms, offering multi-dimensional references for brands' marketing and product planning. Key takeaways are as follows:

1. Consumer trend reference: Today’s young users have clear unmet marginal emotional demands, creating large room for emotional and impulsive consumption. A small-ticket, high-frequency pricing strategy is far more effective in driving user payments, and the 50-200 yuan price point is where young users are most likely to place impulsive orders, making it ideal for impulsive consumer goods pricing.

2. Marketing technology reference: Traffic distribution on content platforms currently centers on click-through rate as the core KPI. AI-powered dynamic creative optimization can effectively improve ad delivery efficiency. After Bilibili optimized its ads with AIGC tools, its ad click-through conversion rate (CTCVR) rose 25% year over year. This tactic can be adapted for brands' own ad delivery.

3. Risk warning: Growth driven by suggestive content operates in a gray area. Kuaishou was once fined 119 million yuan by regulators for similar issues, and its subsequent live streaming revenue fell 13.5% year over year. Brands partnering with such platforms need to watch for compliance risks and prioritize partnerships with compliant platforms.

This article discloses Bilibili’s current commercial policies and platform trends, offering guidance for sellers looking to operate on the platform. Key takeaways are as follows:

1. E-commerce onboarding policy: Bilibili Member Purchase has suspended onboarding for new third-party sellers, only allowing existing sellers to continue normal operations. The platform now prioritizes its self-operated business, meaning new sellers have no opportunity to enter Bilibili’s e-commerce track in the short term.

2. Ad delivery experience: Bilibili faces growing commercial pressure, so traffic distribution centers on click-through rate as the core KPI. Its algorithm prioritizes title materials that trigger emotion and attract attention, and uses AIGC tools to optimize delivery targeting. Sellers can align with this logic to boost exposure when running ads on Bilibili.

3. Risk warning: Bilibili’s current monetization model driven by suggestive content operates on the edge of regulation. Following Kuaishou’s precedent, revenue dropped sharply after the platform was penalized by regulators for similar suggestive content issues. Bilibili will likely face tighter compliance regulation going forward. Entering sellers should prepare in advance and watch for policy risks.

This article analyzes product demand and business opportunities in content platform e-commerce, offering references for factories producing figurines and cultural peripherals. Key takeaways are as follows:

1. Product direction: Young users today have clear emotional consumption demand for figurines and cultural peripherals. Products that deliver emotional stimulation are far more likely to drive impulsive consumption. These products are best priced between 50-200 yuan to drive high volume, with gross margins for legitimate figurines generally reaching 50-70%—a very attractive profit margin.

2. Business cooperation opportunities: Bilibili Member Purchase has suspended third-party seller onboarding and prioritizes self-operated products, which requires supply from upstream factories. Factories that meet product requirements can connect with Bilibili’s self-operation team to reach young users via the platform’s traffic and secure stable sales volume.

3. Development takeaways: Factories making products for Gen Z need to adjust product design to align with content platforms’ user characteristics and meet young users’ emotional demands. At the same time, they must prioritize content compliance, avoid crossing regulatory red lines, and prevent inventory losses caused by product suspensions.

This article discloses new development trends among mature content platforms, pointing out growth directions for service providers serving the industry. Key takeaways are as follows:

1. Industry development trend: China’s internet platforms have entered the stage of stock competition, with all platforms shifting from competing for new users to extracting value from existing users. Emotional monetization and AI-optimized ad delivery are currently the core directions of platform commercialization, and related service demand will continue to grow.

2. Core client pain points: Most content platforms now face slowing user growth and underperforming traditional businesses. They all need to improve per-user contribution and ad monetization efficiency, creating strong demand for AIGC intelligent creative tools, precise distribution technology, and user value mining tools.

3. Industry opportunities and risks: Service providers that help platforms create ad creative, optimize dynamic titles, and achieve precise user targeting will gain larger market space. At the same time, providers should note that suggestive monetization is unsustainable, and should prioritize布局 compliant commercial service directions to avoid risks in gray tracks.

This article summarizes lessons from commercialization of mature content platforms, using Bilibili and Kuaishou as case studies, offering valuable reference for other platform operators. Key takeaways are as follows:

1. Common platform dilemmas and general practices: Most content platforms today face the shared challenges of stagnant user growth and pressure on traditional businesses, and need to boost ARPU from existing users. Bilibili’s approach includes: suspending third-party e-commerce onboarding, prioritizing self-operated high-margin products, combining emotional content with a blind box mechanism to drive monetization, using AI dynamic creative optimization to boost ad click-through rates, and launching pausable pre-roll ads enabled by default to balance community experience and commercial revenue.

2. Risk and lessons: Kuaishou relied on suggestive content to drive gift revenue growth in its early years, and was eventually fined 119 million yuan by regulators for inappropriate content. After cracking down on suggestive content, Kuaishou’s Q1 2026 live streaming revenue fell 13.5% year over year, hitting a 16-quarter low. This proves that growth driven by gray-area practices is unsustainable: it not only brings regulatory penalties, but also fails to solve fundamental growth problems.

3. Development insights: To solve growth challenges in the stock era, platforms cannot rely on overdrawing user trust or crossing regulatory red lines. Instead, they need to actively seek compliant new growth drivers and build new business lines.

This article reveals new trends and problems in the commercialization of content platforms in the stock internet era, providing a typical case for industry research. Key takeaways are as follows:

1. New industry trends: As internet platforms enter the stock competition stage, they have shifted from competing for new users to extracting emotional value from existing users, and have developed a complete emotional monetization model. This model draws on the core logic of the "scamming elderly men" online gray industry: it drives impulsive consumption through emotional stimulation, small-ticket high-frequency pricing, and probability mechanisms, only shifting the target user group from elderly men to Bilibili’s young user base.

2. Newly exposed problems: Data shows Bilibili ranks among the top three platforms most used by minors, with a 29% minor user penetration rate. The suggestive content promoted by the platform negatively impacts minors’ physical and mental health. Meanwhile, the double-headline model for in-feed ads is essentially clickbait that infringes on users’ right to information, and operates on the edge of regulatory compliance.

3. Research value: The Kuaishou case has proven that gray-area monetization cannot solve the fundamental growth problem of stock platforms, and platforms must ultimately seek compliant new growth drivers. This provides a highly valuable observation sample for research on the commercial transformation path of stock internet platforms.

Disclaimer: The "Quick Summary" content is entirely generated by AI. Please exercise discretion when interpreting the information. For issues or corrections, please email run@ebrun.com .

I am a Brand Seller Factory Service Provider Marketplace Seller Researcher Read it again.

作者|王铁梅

编辑|古廿

最近,“崩老头”成了网络热词。

简单说,就是一些年轻女性通过社交软件添加中老年男性,以陪聊、撒娇、提供情绪价值等方式建立关系,再用奶茶钱、零花钱、吃饭钱等理由索要小额红包。

单笔金额不高,但胜在高频、走量。有人靠这种“薄利多销”的方式,日入数百元,甚至月入数万元。

这套玩法成立的前提有两个关键词:边缘性情感需求和小额高频变现。前者负责让人上头,后者让每一次付费看起来都“不贵”。

B站似乎也听懂了这门生意。

5月,B站发布Q1财报。在用户增长见顶、传统业务承压之后,广告成了少数还能支撑增长的业务。但广告天然受投放周期和市场环境影响,波动较大。平台能否持续盈利,仍然要看它能不能从存量用户身上挖出更多消费。

而B站最稳定的资产,仍然是年轻人。于是,会员购、魔力赏、直播等业务,被越来越深地绑定在情绪消费、收藏消费和擦边内容上。

对 B 站而言, “ 崩年轻人 ” 或许不是 一句 猎奇的 玩笑 。当增量越来越少,平台 也 开始 把目光投向存量用户的每一次冲动消费。

精密的年轻人情绪变现系统

打开B站会员购,很难不产生一种错位感。

一个以二次元社区起家的平台,会员购首页却长期充斥着大量带有性暗示元素的手办、周边和模型商品。泳装、半透明材质、夸张身体比例、低龄化体态,几乎已经成了其中一类商品的固定模板。

这些擦边手办的价格大多集中在50元至200元之间,刚好处在年轻用户相对容易下单的区间。除日本动漫IP外,部分商品还来自B站自有游戏《碧蓝航线》的周边。部分商品卡显示,已有上万人加购。

「市象」 观察 到 ,几乎所有大尺度擦边色情手办,无论什么 IP ,都标注着 “自营”。经「市象」 了解 ,目前 B 站暂停了第三方商家入驻 “会员购”,此前入驻的商家可正常经营。 平台 官方 客服 表示 , B 站会员购自营上架的商品,会有对应工作人员去筛选。

这意味着,至少在自营商品层面,这些游走在灰色边缘的商品,并不能简单归因于“平台监管不力”。它们更像是B站主动筛选、采购并推向用户首页的结果。

行业数据显示,正规渠道手办的毛利率通常在50%至70%之间。通过切断第三方入驻并主推自营,这部分由软色情驱动的高毛利,最终被B站转化为自身的财务营收。

另外,在销售策略上,B站也没有只把这类商品当作普通电商货架来卖。

在会员购信息流里,大量以擦边手办为封面的“欧气盲盒”“吃谷机”等商品卡被密集穿插其中。用户点击后,会跳转至B站的“魔力赏”页面,通过抽盒、开奖、概率等机制完成消费。

也就是说,B站把擦边商品、盲盒机制和即时反馈绑在了一起。

据新浪科技此前报道,有内部人士曾透露,魔力赏在2022年已经占到B站电商营收的80%,其在内部的定位就是纯粹的营收和拉新工具。

事实上,用擦边内容撬动年轻用户付费,并不是会员购才出现的新玩法。B站直播区早就验证过类似逻辑。

过去几年,B站擦边争议更多集中在直播区,尤其是声音直播板块。有从事相关行业的主播向「市象」透露,在B站电台区,唱歌、聊天等常规内容变现难度很高,新主播想赚钱,转向“擦边”几乎成了一条默认路径。

主打“喘息声”“低音炮”等带有性暗示元素的ASMR直播,正是其中的重灾区。

“B站一个舰长单月价格为198元,包月为138元。平台会抽走一半,但只要把一个消费者哄高兴了,就可能获得长期包月。”上述主播表示。

这套逻辑和“崩老头”高度相似:先提供情绪刺激,再通过低门槛、高频次的方式完成变现。只不过,“崩老头”瞄准的是中老年男性,B站瞄准的是平台里更年轻、更高频、更容易被内容氛围影响的年轻用户。

而这一点更值得警惕。《青少年蓝皮书:中国未成年人互联网运用报告(2024)》显示,B站在未成年人经常使用的网络平台中位列前三,使用率达到29%。

无论是带有擦边元素的盲盒,还是擦边直播,本质上都不是简单的 “二次元消费”或“年轻人爱好”。它们更像是一套面向年轻用户的情绪变现系统。

信息流广告的两幅面孔

这套情绪变现系统,不只发生在会员购和直播间,也藏在信息流广告里。

最近,博主 shubbydobby 在一期视频中,对 B 站标题做了一次统计。他基于 13735 条 B 站“每周必看”标题得出结论:在 B 站主流标题中,真正的纯平述句只占 48.2% ,超过一半的标题都在通过某种语气调动情绪,只是有些被包装成了平述句。

换句话说,B站的内容生态本身,就已经高度依赖标题情绪来争夺点击。

当普通内容都开始情绪先行,天然更容易让用户抵触的商业推广视频,为了挤进推荐流,只会把这套逻辑推得更极端。

于是,B站广告业务里的“标题党”特征,也变得越来越明显。

今年有网友发现,B站首页推荐流中,一些带有广告链接的推广视频,经常使用博眼球、擦边暗示或引战意味较强的标题。但用户被标题吸引,点击进入播放页后,却会看到一个相对正常、克制的原标题。

比如 , 一条信息流页面的标题写着 “如果有我这样的女朋友,你几点回家”,吸引了不少点击,但进入播放页后, 「 市象 」 发现 , 这条视频其实是 AI 科普内容,讲述 AI 如何与历史人物相结合,实际标题为“一人演活 3 位宋代女神!朋克少女变身李清照穿越大宋”。类似的情况在游戏推广视频中也很常见。

这种信息流页面和视频播放页面之间的“AB面”,正在成为B站广告视频里一种常态。

从技术上看,它接近现代广告系统中的“动态创意优化”,也就是DCO机制。在常规电商或短视频平台里,DCO本身是一项中性技术:广告主或创作者提交多组标题、封面和素材,系统通过赛马机制,把点击率更高的一组推给更多用户。

当这套机制被放进一个商业化压力越来越大的社区里,技术中性很容易滑向流量激励。

点击率成为核心指标后,系统自然会奖励更刺激、更极端、更容易引发情绪反应的表达。久而久之,广告标题开始变得风格统一,话术熟悉,甚至带着明显的AI生成痕迹。

「市象」就此向 B 站官方客服了解情况。对方最初表示,原因可能是“ UP 主修改了稿件标题”,并称平台不支持此类行为。但在「市象」进一步追问系统机制时, B 站客服又表示:“不排除这是系统 bug 导致的。 ”

无论这些诱导性标题具体出自谁手,作为规则制定者和流量分发者,B站都很难置身事外。

甚至这套流量规则,正在奖励平台的广告变现效率。

一季度财报显示,B站广告业务表现格外突出,单季度收入25.9亿元,同比增长30%。从营收结构看,广告收入占比达到35%,已经超过游戏,成为B站第二大收入来源。

对于增长,B站在财报中强调,借助AIGC智能创意工具,广告创作和分发流程被大幅简化。随着AI工具持续完善词条分发体系,广告内容触达用户的精准度提升,广告素材投放效率也随之提高,推动点击转化率CTCVR同比提升25%。

这意味着,信息流广告的AB面,并不是孤立现象。它背后对应的是B站正在强化的一整套广告效率系统:用AI提高创意生产效率,用算法筛选更高点击的标题,再用推荐流把它们送到更可能转化的用户面前。

猛嗑年轻人价值的B站,今年还上线了一项颇具小心思的设计。开始在播放页上线可暂停广告。虽然UP主可以选择关闭,但默认状态下仍会展示。

过去不做贴片广告,是 B 站创始人提出的承诺,且 至今仍是它维持社区认同的重要资产。 以这种设计, B 站在“保持社区承诺”和“实现商业化收益”之间,形成了一种微妙的平衡。

快手给B站打样

如果说B站的“崩年轻人”还处在进行时,那么快手其实已经提前走完了这条路。

在中国互联网主流内容平台中,快手与B站长期代表着两种几乎相反的社区气质。前者以“老铁文化”和下沉市场起家,后者则长期以二次元、游戏和年轻人文化自居。但在商业化面前,两家平台的动作却惊人的相似。

在直播业务高速发展的几年里,擦边内容一直是快手重要的流量密码。毕竟直播打赏模式经历了多年的透支,无论是在快手还是在B站,观众普遍不再愿意为常规才艺买单。

2024年底,快手因大量低俗直播内容泛滥被监管处罚1.19亿元。随后平台开始集中整治深夜擦边直播,而快手也在财报中承认,直播收入下滑的重要原因之一,是其持续建设“更加健康的直播生态”。

也就是说,用 “擦边” 刺激用户打赏的 “崩老头”行为 ,被限制了。结果也立刻反映在数字上。 2026 年第一季度,快手直播收入仅为 84.9 亿元,同比下滑 13.5% ,创下近 16 个季度以来的新低。

某种程度上,B站商城里的软色情手办、直播间里的性暗示、内容社区的不良视频,与当年的快手直播间一样,试图在存量时代,努力刺激消费。

从这个角度看,B站目前的困境,与快手相似。

用户增长放缓之后,平台必须提高每个用户创造的价值,于是擦边内容、智能标题、AI优化广告不断出现。但快手Q1的财报已经写明了这条路的未来:即便把“崩用户”这件事做到极致,也解决不了存量平台的根本问题。

因此B站是否在“崩年轻人”并不重要,重要的是当年轻人的注意力越来越难获取时,B站还是需要新的增长故事。

快手给出的答案是AI和可灵。即便这意味着要与字节正面竞争,胜算也相当未知,但这起码是直播和广告之外的新支点。

对于 B 站来说,属于它的答案,似乎还没有出现。

注:文/王铁梅,文章来源:市象,本文为作者独立观点,不代表亿邦动力立场。

文章来源:市象

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