YouTube is still number one, but Kuaishou becomes second highest photo and video app globally in Q2 2019, Douyin follows
Short video app Kuaishou – also known as Kwai – is about to become much more visible. The app will see its content appear on WeChat’s “kanyikan” (“have a look”) feed, which is filled with recommended content from each user’s contact list. Fortemore, according to a new report from Sensor Tower Sore Intelligence, the Chinese short-video app Kwai managed to make it to the second place of the ranking with earnings approaching $78 million, a 57 percent year-over-year increase.
The vast majority of Kwai’s revenue – 99% – can be traced back to China, the apps main market. Kanyikan is populated with articles and videos that a user’s friends mark by tapping the “zaikan” (“reading”) button, a design feature similar to Facebook’s “Like” button for the web. Thus Tencent will allow the short video app to tap WeChat’s 1.1 billion monthly active users and compete with ByteDance Douyin.
YouTube became the top-grossing app of the second quarter of 2019, PRC’s app following behind.
But Tencent is planning to definitely beat Douyin. At the moment, ByteDance main app has 3.2 billion daily active users, making it the most popular app of its kind in China. According to reports, Kuaishou is aiming to hit 3 billion DAUs before Chinese New Year in 2020. Plus, Shenzhen based tech giant is planning to invest between $1 billion and $1.5 billion in short-video application Kuaishou. Nevertheless no agreement has been signed yet, the cooperation has reached advanced stages of negotiation. Tencent’s investment support for Kuaishou would fortify the stickiness between the two companies.