Beijing (PingWest)—Short video platform Kuaishou will ramp up investments to provide data flows, of which the value could reach 10 billion yuan ($1.5 billion), for its 100,000 premium content creators in the next year, covering more than 20 fields such as games, fashion, sports and music.
The company's move is part of its broader drive to speed up monetization.
"Last year, more than 16 million content providers obtained over 20 billion yuan in income, which mainly came from advertisement, livestreaming video, e-commerce and paid content at Kuaishou," said Ma Hongbin, senior vice-president of Kuaishou.
Ma said Kuaishou will cooperate with at least 2,000 organizations, including media, self-media producers and multi-channel network operators, to cultivate more high-quality content creators in harnessing and maximizing their monetization model.
So far, Kuaishou has more than 200 million daily active users and over 400 million monthly active users, with more than 200 million content creators recording and sharing their videos on the platform last year, Ma said. Its daily active users in first and second-tier cities have surpassed 60 million.
There are over 60,000 content creators making a profit at Kuaishou everyday. The platform aims to increase 3,000 creator accounts that have over one million fans within the next year, Ma said.
Source: China Daily