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Kuaishou's revenue and users grow, despite intensifying competition and China’s tech crackdown
Source: | Author:QS | Published time: 2021-11-26 | 319 Views | Share:


Caption: Defying intensifying competition from Douyin and China’s tech crackdown, Kuaishou reports a 33.4% revenue growth and 17.9% growth in average daily active users. 


 


According to Bloomberg, Kuaishou Technology grew its revenue after reporting better-than-expected 33.4% growth in quarterly revenue, an unanticipated growth amidst intensifying competition with ByteDance Ltd and China’s tech crackdown live-streaming and internet platforms. 


Kuaishou also saw the average daily active users for the quarter ending September 30 going up to 320.4 million, compared to 271.7 million users a year ago, accounting for a 17.9% increase. 

The platform’s average MAU also rose 19.5% to 572.9 million, from 479.4 million last year, over the same period. 


 



Kuaishou is the operator of China’s second-largest short-video platform after ByteDance’s Douyin, the domestic version of TikTok. It is presently trying to compete with Douyin for domestic and global markets. As of May 2021, Douyin’s MAU was 556.48 million, compared to Kuaishou’s 430.62 MAU. 



Bloomberg Intelligence also states that Kuaishou’s still-emerging advertising business might help drive sales growth into 2022. 


To learn more about different social media platforms in China, contact our China advertising consultant at: enquiry@so360.hk. 


(Sources: Bloomberg.com, finance.yahoo.com, statista.com, thestandard.com.hk)

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