China’s Kuaishou, TikTok close gap with YouTube among highest-grossing video apps
- The two popular Chinese short video platforms plan to increase user growth by expanding into longer formats
Popular short video-sharing platforms Kuaishou and Douyin – known outside China as Kwai and TikTok, respectively – closed the gap behind YouTube to rank among the world’s highest-grossing photo and video apps in the second quarter of this year.
The latest quarterly rankings, announced in a blog post on Friday by app analytics firm Sensor Tower, showed Kuaishou keeping its runner-up spot even though 99 per cent of its revenue was generated from its home market.
Fast-growing Douyin, which has a large number of users outside the Chinese mainland, moved past image-editing app PicsArt to rank third in the quarter ended June 30.
Sensor Tower, which based its estimates on downloads from Apple’s App Store and Google Play, also reported that the widely known TikTok was ranked again as the world’s most downloaded app from a publisher based in China, with more than 156 million new installations in the same period.
Representatives from Tencent Holdings-backed Kuaishou Technology and ByteDance-owned Douyin declined separate requests for comments.