Short video sharing app Kuaishou claims to have more than 170 million daily active users (DAUs) on its livestreaming service—with e-commerce streams surpassing 100 million DAUs—as the company increasingly bets on this lucrative business, according to a report it released yesterday. The number marks a substantial 70% increase from December’s 100 million.
Chinese pop superstar Jay Chou will kick off his first-ever Kuaishou liverstreaming show on July 26. The firm in June also announced a USD 424 million plan to build livestreaming e-commerce headquarters in Chengdu, in an effort to reach its annual goal of selling goods worth RMB 250 billion (USD 35.2 billion) on this medium. Kuaishou also teamed up with e-retailer JD.com for the midyear “618” shopping festival.
The report shows that 70% of the 300 million people posting content on Kuaishou are under the age of 30. Gaming-centric short videos are reaching more than 90 million daily viewers, on average. The platform announced a DAU of over 300 million in early 2020.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.