Video app Kuaishou announces financial reports for Q1 2021

Today, 24 May 2021, Kuaishou released its first-quarter 2021 financial report. In Q1, ending 31 March 2021, Kuaishou achieved a revenue of 17.02 billion RMB ($2.66 billion), a year-on-year increase of 36.6%.

Key user data, according to the report:

  • Kuaishou’s average daily active users (DAUs) were 295 million, an increase of 16.6%, compared with 253 million in the same period last year.
  • The average monthly active users amounted to 519 million, compared with 495 million last year.
  • The average daily usage time per DAU increased from 85.2 minutes last year to 99.3 minutes.

In Q1 of 2021, Kuaishou’s online marketing service revenue increased by 161.5% year-on-year to 8.6 billion RMB, accounting for more than half of the total revenue (50.3%) for the first time. In the first quarter, Kuaishou’s number of advertisers was more than twice that of the same period in 2020.

Among them, brand advertising is one of the most important areas for the development of online marketing services for Kuaishou in 2021. In the first quarter, the year-on-year growth of Kuaishou brand advertising revenue surpassed the year-on-year growth rate of total online marketing services revenue.

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