Kuaishou struggles to sustain monetization as ad revenue grows slower than rival Douyin: report

Kuaishou, a brief video platform with 3 million every day lively customers, has much less than one-fifth of the promoting revenue in contrast to rival Douyin, native media outlet LatePost reported. Kuaishou advised LatePost the ratio is inaccurate. Beijing-based ByteDance generated RMB 330 billion ($48.74 billion) in promoting revenue in China, with TikTok’s sister app contributing extra than 80% at round RMB 264 billion, the report stated, whereas a number of analysts estimate Kuaishou’s full-year promoting revenue at round RMB 48.4 billion in 2022. In 2018, Kuaishou established a monetization unit and recorded triple-digit year-on-year progress in promoting revenue earlier than 2022. However, in 2022, the Hong Kong-listed firm noticed solely 20% progress within the January-June interval. Not exact sufficient algorithm-based suggestions, over-reliance on prime advertisers, and failure to align adverts with particular industries led Kuaishou’s monetization progress to fall wanting inside expectations, the report stated. [LatePost, in Chinese]