China’s second-largest short-video platform Kuaishou (or Kwai) announced 300 million daily active users (“DAU”) milestone last week. The total number of short videos published on Kwai’s platform exceeded 20 billion.
In 2019, a total number of 250 million users published on Kwai’s platform with accumulated likes of over 350 billion. Its competitor Douyin or Tiktok DAU exceeded 400 million in early 2020.
Find out how Kuaishou grew its DAU by 40 million in 5 months here.
Kuaishou generated RMB 50 billion (around $7.1 billion) in revenue in 2019, with live-streaming revenue accounting for the largest share with RMB 30 billion revenue, according to Chinese media Jiemian.
Kuaishou’s advertising revenues in 2019 reached RMB 13 billion with 20% from SME advertisers according to Tencent News. And, its target for 2020 is RMB 40 billion.
The DAU for Chinese short video apps reached 574 million during this year’s extended Spring Festival (Jan 24 to Feb 2) according to research company QuestMobile.
As the exclusive interactive partner of the 2020 Spring Festival Gala aired on the Chinese New Year’s Eve, January 24, Kuaishou Technology announced that 63.9 billion user engagements have been made during the live broadcast, which is the highest amount in the history of the gala according to its official press release.
Kuaishou handed out five rounds of virtual “red envelopes,” totaling a record-breaking 1 billion yuan ($144 million). During the event, 2.21 million people snatched envelopes with extra amount ranging from 66.6 yuan to 2020 yuan.
Kuaishou platform also supports live streaming; its daily active live streaming users exceeded 100 million in December 2019.
There are now over 990,000 creators of educational videos on Kuaishou, more than doubled in 2019 compared to the previous year. The educational live streaming platform now has over 100 million daily audiences.
See a comparison of Tik Tok vs. Kwai