| 1 | <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720" width="1280" height="720"> |
| 2 | <!-- P04 The ARPU Divide — dumbbell with normalized MAU vs ARPU, dense rhythm --> |
| 3 | |
| 4 | <rect id="bg" width="1280" height="720" fill="#FFFFFF"/> |
| 5 | |
| 6 | <!-- ============ HEADER ============ --> |
| 7 | <g id="bg-masthead-rule"> |
| 8 | <rect x="0" y="0" width="1280" height="4" fill="#C8102E"/> |
| 9 | </g> |
| 10 | |
| 11 | <g id="header-folio"> |
| 12 | <line x1="48" y1="34" x2="1232" y2="34" stroke="#111111" stroke-width="1"/> |
| 13 | <text x="48" y="26" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#111111" letter-spacing="2">THE AI INDUSTRY 2026 · ANNUAL REPORT</text> |
| 14 | <text x="640" y="26" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#111111" text-anchor="middle" letter-spacing="2">STORY I · SIDEBAR</text> |
| 15 | <text x="1232" y="26" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#111111" text-anchor="end" letter-spacing="2">VOL. 1 · NO. 1 · MAY 2026</text> |
| 16 | </g> |
| 17 | |
| 18 | <g id="header"> |
| 19 | <text x="48" y="58" font-family=""Arial Black", SimHei, sans-serif" font-size="11" font-weight="900" fill="#C8102E" letter-spacing="3.5">SECTION II · SIDEBAR</text> |
| 20 | <text x="48" y="110" font-family="Impact, "Arial Black", SimHei, sans-serif" font-size="44" font-weight="900" fill="#111111" letter-spacing="-1">THE ARPU DIVIDE</text> |
| 21 | <text x="48" y="138" font-family=""Times New Roman", SimSun, serif" font-size="16" font-style="italic" fill="#111111">Scale ≠ monetisation. Anthropic earns <tspan fill="#C8102E" font-weight="700">7.4×</tspan> per user vs. OpenAI, <tspan fill="#C8102E" font-weight="700">162×</tspan> vs. Meta.</text> |
| 22 | <line x1="48" y1="156" x2="1232" y2="156" stroke="#111111" stroke-width="2"/> |
| 23 | </g> |
| 24 | |
| 25 | <!-- ============ LEGEND ============ --> |
| 26 | <g id="legend"> |
| 27 | <circle cx="60" cy="184" r="6" fill="#111111"/> |
| 28 | <text x="74" y="188" font-family=""Arial Black", SimHei, sans-serif" font-size="11" font-weight="900" fill="#111111" letter-spacing="1">MAU</text> |
| 29 | <text x="112" y="188" font-family=""Times New Roman", SimSun, serif" font-size="11" font-style="italic" fill="#3A3A3A">% of largest (Meta ~1 B)</text> |
| 30 | <circle cx="320" cy="184" r="6" fill="#C8102E"/> |
| 31 | <text x="334" y="188" font-family=""Arial Black", SimHei, sans-serif" font-size="11" font-weight="900" fill="#C8102E" letter-spacing="1">ARPU</text> |
| 32 | <text x="380" y="188" font-family=""Times New Roman", SimSun, serif" font-size="11" font-style="italic" fill="#3A3A3A">% of highest (Anthropic $16.20 /mo)</text> |
| 33 | <text x="1232" y="188" font-family="Consolas, "Courier New", monospace" font-size="9" fill="#3A3A3A" text-anchor="end" letter-spacing="1">ROWS RANKED BY ARPU DESCENDING</text> |
| 34 | </g> |
| 35 | |
| 36 | <!-- ============ DUMBBELL CHART AREA ============ --> |
| 37 | <g id="chartArea"> |
| 38 | <!-- X-axis grid (0, 25, 50, 75, 100%) at x = 200, 450, 700, 950, 1200 --> |
| 39 | <line x1="200" y1="220" x2="200" y2="552" stroke="#111111" stroke-width="1"/> |
| 40 | <line x1="450" y1="220" x2="450" y2="552" stroke="#3A3A3A" stroke-width="0.5" stroke-dasharray="2,3"/> |
| 41 | <line x1="700" y1="220" x2="700" y2="552" stroke="#3A3A3A" stroke-width="0.5" stroke-dasharray="2,3"/> |
| 42 | <line x1="950" y1="220" x2="950" y2="552" stroke="#3A3A3A" stroke-width="0.5" stroke-dasharray="2,3"/> |
| 43 | <line x1="1200" y1="220" x2="1200" y2="552" stroke="#111111" stroke-width="1"/> |
| 44 | <!-- chart-plot-area: 200,220,1200,552 --> |
| 45 | |
| 46 | <!-- X-axis baseline --> |
| 47 | <line x1="200" y1="552" x2="1200" y2="552" stroke="#111111" stroke-width="1.5"/> |
| 48 | |
| 49 | <!-- X-axis tick labels --> |
| 50 | <text x="200" y="572" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="middle">0 %</text> |
| 51 | <text x="450" y="572" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="middle">25 %</text> |
| 52 | <text x="700" y="572" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="middle">50 %</text> |
| 53 | <text x="950" y="572" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="middle">75 %</text> |
| 54 | <text x="1200" y="572" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="middle">100 %</text> |
| 55 | |
| 56 | <!-- Scale: 1000px = 100%, 10px per percent, x = 200 + pct * 10 --> |
| 57 | |
| 58 | <!-- Row 1: Anthropic — ARPU 100% (x=1200), MAU 13.4% (x=334) --> |
| 59 | <g id="row-anthropic"> |
| 60 | <text x="190" y="248" font-family=""Arial Black", SimHei, sans-serif" font-size="13" font-weight="900" fill="#111111" text-anchor="end">ANTHROPIC</text> |
| 61 | <line x1="334" y1="244" x2="1200" y2="244" stroke="#111111" stroke-width="1.5"/> |
| 62 | <circle cx="334" cy="244" r="8" fill="#111111"/> |
| 63 | <circle cx="1200" cy="244" r="8" fill="#C8102E"/> |
| 64 | <text x="318" y="232" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="end">134 M</text> |
| 65 | <text x="1188" y="232" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#C8102E" text-anchor="end">$16.20</text> |
| 66 | </g> |
| 67 | |
| 68 | <!-- Row 2: Microsoft — ARPU 30.9% (x=509), MAU N/A --> |
| 69 | <g id="row-microsoft"> |
| 70 | <text x="190" y="312" font-family=""Arial Black", SimHei, sans-serif" font-size="13" font-weight="900" fill="#111111" text-anchor="end">MICROSOFT</text> |
| 71 | <circle cx="509" cy="308" r="8" fill="#C8102E"/> |
| 72 | <text x="497" y="296" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#C8102E" text-anchor="end">$5.00</text> |
| 73 | <text x="525" y="312" font-family=""Times New Roman", SimSun, serif" font-size="11" font-style="italic" fill="#3A3A3A">MAU not reported</text> |
| 74 | </g> |
| 75 | |
| 76 | <!-- Row 3: OpenAI — ARPU 13.6% (x=336), MAU 90% (x=1100) --> |
| 77 | <g id="row-openai"> |
| 78 | <text x="190" y="376" font-family=""Arial Black", SimHei, sans-serif" font-size="13" font-weight="900" fill="#111111" text-anchor="end">OPENAI</text> |
| 79 | <line x1="336" y1="372" x2="1100" y2="372" stroke="#111111" stroke-width="1.5"/> |
| 80 | <circle cx="1100" cy="372" r="8" fill="#111111"/> |
| 81 | <circle cx="336" cy="372" r="8" fill="#C8102E"/> |
| 82 | <text x="320" y="360" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#C8102E" text-anchor="end">$2.20</text> |
| 83 | <text x="1088" y="360" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="end">900 M</text> |
| 84 | </g> |
| 85 | |
| 86 | <!-- Row 4: Google — ARPU 6.8% (x=268), MAU N/A --> |
| 87 | <g id="row-google"> |
| 88 | <text x="190" y="440" font-family=""Arial Black", SimHei, sans-serif" font-size="13" font-weight="900" fill="#111111" text-anchor="end">GOOGLE</text> |
| 89 | <circle cx="268" cy="436" r="8" fill="#C8102E"/> |
| 90 | <text x="256" y="424" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#C8102E" text-anchor="end">$1.10</text> |
| 91 | <text x="284" y="440" font-family=""Times New Roman", SimSun, serif" font-size="11" font-style="italic" fill="#3A3A3A">MAU not reported</text> |
| 92 | </g> |
| 93 | |
| 94 | <!-- Row 5: Meta — ARPU 0.6% (x=206), MAU 100% (x=1200) --> |
| 95 | <g id="row-meta"> |
| 96 | <text x="190" y="504" font-family=""Arial Black", SimHei, sans-serif" font-size="13" font-weight="900" fill="#111111" text-anchor="end">META</text> |
| 97 | <line x1="206" y1="500" x2="1200" y2="500" stroke="#111111" stroke-width="1.5"/> |
| 98 | <circle cx="1200" cy="500" r="8" fill="#111111"/> |
| 99 | <circle cx="206" cy="500" r="8" fill="#C8102E"/> |
| 100 | <text x="226" y="488" font-family="Consolas, "Courier New", monospace" font-size="10" font-weight="700" fill="#C8102E">$0.10</text> |
| 101 | <text x="1188" y="488" font-family="Consolas, "Courier New", monospace" font-size="10" fill="#3A3A3A" text-anchor="end">~1,000 M</text> |
| 102 | </g> |
| 103 | </g> |
| 104 | |
| 105 | <!-- ============ READING THE TABLE — short caption ============ --> |
| 106 | <line x1="48" y1="608" x2="1232" y2="608" stroke="#111111" stroke-width="2"/> |
| 107 | <g id="reading-the-table"> |
| 108 | <text x="48" y="634" font-family=""Arial Black", SimHei, sans-serif" font-size="14" font-weight="900" fill="#111111" letter-spacing="1.5">READING THE TABLE</text> |
| 109 | <line x1="240" y1="624" x2="1232" y2="624" stroke="#111111" stroke-width="0.5"/> |
| 110 | <text x="48" y="660" font-family=""Times New Roman", SimSun, serif" font-size="13" fill="#111111">The rank-flip at Anthropic and Meta is the headline: Anthropic monetises a 134 M user base 162 times harder than Meta monetises a billion.</text> |
| 111 | <text x="48" y="678" font-family=""Times New Roman", SimSun, serif" font-size="13" fill="#111111">Enterprise-API and coding workloads — Anthropic's load-bearing demand — compound faster on per-user terms than free-tier consumer scale ever has.</text> |
| 112 | </g> |
| 113 | |
| 114 | <!-- ============ FOOTER ============ --> |
| 115 | <g id="footer-imprint"> |
| 116 | <rect x="48" y="688" width="1184" height="2" fill="#C8102E"/> |
| 117 | <text x="48" y="708" font-family="Consolas, "Courier New", monospace" font-size="9" font-weight="700" fill="#111111" letter-spacing="2">SOURCE COUNTERPOINT RESEARCH Q1 2026 · THE REGISTER 2026-04-30 · NORMALISATION: MAU PCT OF META; ARPU PCT OF ANTHROPIC</text> |
| 118 | <text x="1232" y="708" font-family="Consolas, "Courier New", monospace" font-size="9" font-weight="700" fill="#111111" text-anchor="end" letter-spacing="2">PAGE 04 / 10</text> |
| 119 | </g> |
| 120 | </svg> |
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