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Short video app ‘Kuaishou’ to give out 1bil yuan in digital red packets at 2020 Spring Festival Gala

Because the unique “crimson packet” associate for subsequent yr’s Spring Pageant Gala, Chinese language quick video app Kuaishou will pour 1bil yuan (RM590mil) of money right into a crimson packet marketing campaign for Lunar New 12 months subsequent yr, it introduced on Wednesday.

Since 1983, watching at the least a part of China Central Tv’s (CCTV)’s Spring Pageant Gala has been a nationwide custom for households in China. Final yr, the programme – dubbed “China’s Tremendous Bowl” and recognised within the Guinness World Information because the most-watched nationwide community TV broadcast – attracted over 1.1 billion viewers at house and overseas.

The present has been a promotion battleground amongst Web corporations since Alibaba’s Alipay and Tencent’s WeChat first launched digital crimson packets in 2015, sparking a battle for shoppers making an attempt to seize as many as they might utilizing their smartphones.

By changing into the unique crimson packet associate with the gala, Kuaishou would be the solely means by which individuals can “snatch” the digital money items in the course of the programme. This yr’s associate was search engine operator Baidu.

Kuaishou’s money giveaway subsequent yr will the best quantity ever within the historical past of the Spring Pageant Gala, Kuaishou and China Media Group – the mother or father firm of CCTV – mentioned in a joint press convention.

Crimson packets or hongbao are a conventional follow of giving money in crimson paper envelopes (thought of an auspicious color for the Chinese language) that has more and more moved on-line with the convenience of smartphone-based cellular funds. Many corporations in China routinely maintain crimson packet promotions, giving out money or rebates that buyers can then “snatch” by means of cellular apps.

On the 2020 Spring Pageant Gala, digital crimson packets can be given out to viewers who watch video clips and just like the 2020 Spring Pageant Gala on Kuaishou, in line with Kuaishou vice-president Chen Sinuo.

Based in 2011, the Beijing-based start-up is one in all China’s greatest video streaming platforms, and is backed by buyers together with Tencent, Sequoia Capital and Temasek. The corporate has reported over 200 million each day energetic customers, and mentioned greater than 19 million customers earned cash by means of ads, live-streaming video, e-commerce and digital items on the platform this yr.

Kuaishou’s partnership with the Spring Pageant Gala comes after the founders, Su Hua and Cheng Yixiao, set a goal for the corporate to achieve 300 million each day energetic customers by February.

In a name to arms to its greater than 8,000 staff in June, Su and Cheng cautioned of the draw back of a laid-back company tradition that after set it aside from its friends in China’s fiercely aggressive web business, asking workers to modify to “fight mode” as China’s short-form video business turns into more and more crowded with rivals comparable to ByteDance’s TikTok.

“Behind what seems like good numbers, we see deep, hidden risks,” Su and Cheng mentioned in a joint memo to workers. “We’re now not the staff that runs the quickest. Someplace in the course of the growing-up course of, our muscular tissues are dropping their power, response occasions are slowing, and our connection to customers is weakening.” – South China Morning Put up

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