Kuaishou Cements its Place among China's Internet Giants: Latest Industry Report

Kuaishou, a Tencent-backed company, was given special mention in the report, as both its user growth and revenue share surpassed market expectations.

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PR NewswirePR Newswire
Retrieved on: 
Friday, August 7, 2020
Information
Tags: 
Application software, Mobile applications, Social networking services, Video software, Software, Kuaishou, Companies of China, Tencent, Zynn
Geotags: 
China
Organisation: 
KUAISHOU TECHNOLOGY
Website: 
http://www.kuaishou.com
Summary
Key Points: 
  • Kuaishou, a Tencent-backed company, was given special mention in the report, as both its user growth and revenue share surpassed market expectations.
  • Kuaishou, one of the most popular short video platforms in China, reported a 41.5% YoY growth from June 2019.
  • Kuaishou is the only short video platform that gainedthe most user numbers with its short video and live broadcast platforms (Kuaishou Lite and Kuaishou) occupying the 4th and 5th place, respectively, according to figures from the June 2020 Internet Activity Ranking.
  • The industry so far has been embraced by over 1 billion users, of which 100 million, or 10%, are from Kuaishou.




Kuaishou Cements its Place among China's Internet Giants: Latest Industry Report

BEIJING, Aug 7, 2020 /PRNewswire/ -- Short videos and livestreaming are no longer niche industries, as shown by data collected by Quest Mobile (QM), a big data monitoring agency. The company recently released its highly influential China Internet 2020 report. Kuaishou, a Tencent-backed company, was given special mention in the report, as both its user growth and revenue share surpassed market expectations.

Kuaishou, one of the most popular short video platforms in China, reported a 41.5% YoY growth from June 2019. Recording over 300 million daily active users (DAUs), Kuaishou has outgrown its more established competitors and has shown that it is here to stay.

Kuaishou is the only short video platform that gained the most user numbers with its short video and live broadcast platforms (Kuaishou Lite and Kuaishou) occupying the 4th and 5th place, respectively, according to figures from the June 2020 Internet Activity Ranking.

According to QM's report, the monthly active users (MAU) of the livestreaming and short video sector increased to 852 million in China. The sector accounts for nearly 20% of total network user duration, second only to instant messaging. It also became the second largest industry in the media space and surpassing even the online video industry in terms of advertising revenue. Overall, the industry's revenue pie has grown by 30% YoY.

Kuaishou was credited with organizing the Spring Festival Gala and attracting the likes of celebrities such as Jay Chou and Lang Lang to conduct record-breaking livestreams on its platform. Kuaishou saw success as over 910 million people watched the Gala, of which 79.6% watched via short video platforms. The ability of short videos to attract and retain users have normalized the mainstream population, even in China's first-and-second-tier cities.

The report also showed that Kuaishou emerged as the popular choice for millions of Chinese livestreaming e-commerce sellers, including e-commerce giants like JD.com. The QM report credited Kuaishou's livestreaming effort as a substantial driver of the growing e-commerce industry in China. The industry so far has been embraced by over 1 billion users, of which 100 million, or 10%, are from Kuaishou.

China has shown the effectiveness of short video and livestreaming content in driving commercialization. Platforms like Kuaishou are driving individuals, enterprises, industries, and governments to experiment with using new content forms to achieve transformation, growth and development.

About Kuaishou Technology

Kuaishou Technology develops content sharing platforms and makes content production, distribution and consumption fast and easy. Our content recommendation system is built on a deep understanding of our users and the content being shared on our platforms every day.

Our flagship product, Kuaishou, is China's leading short video sharing and social networking platform that enables users to capture the unique and memorable moments of their everyday lives, and to interact with followers in real-time. Our technology offers users a highly personalized experience and encourages members from all communities to create and discover interesting and dynamic content.

Founded in 2011, Kuaishou Technology is headquartered in Beijing with more than 10,000 employees and offices in China, the United States, India and Brazil. Our notable investors include DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent and Baidu. For more information, please visit www.kuaishou.com.

  • March 2011 GIF Kuaishou was created as a product tool for creating animated GIFs
  • October 2013 GIF Kuaishou was transformed into a short-form video social platform - Kuaishou
  • January 2015 Kuaishou's DAU (daily active user) exceeded 10 million
  • September 2017 Kuaishou's total users exceeded 600 million and DAU exceeded 80 million
  • December 2017  Kuaishou's DAU exceeded 100 million
  • June 2018 Kuaishou Technology completed the acquisition of Acfun, an ACG video community
  • May 2019 Kuaishou's DAU exceeded 200 million
  • March 2020 Kuaishou's DAU exceeded 300 million
  • July 2020 Kuaishou's Livestream DAU surpassed 170 million

To download Kuaishou, click here.

CONTACT: Zhang Chuanshi, [email protected], +86-134-8881-8382

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