The Olympic Gains
Watching the Olympics in China used to be a simple affair. You'd turn on the national sports channel, CCTV 5, and keep your eyes peeled for some brief non-diving & volleyball coverage.
That was before "snack sized" videos. So to keep up with our approaching-goldfish-attention spans, China Media Group has granted quick-vid rights of the Tokyo Summer and Beijing Winter Olympics NOT to TikTok, the world's most-downloaded nongame app, but to its upstart rival, Kuaishou. Gee, and Bloomberg told us back in February that Kuaishou's "moment in the sun" was when it more than doubled on its first day of trading.
"It may surprise people to know that Kuaishou is claiming 1b active monthly users, to Tiktok's 1.2b," says Jimmie Jeremejev. "Furthermore, Kuaishou focuses on sports videos, with over 50,000 sports-focused content creators." Will the Olympic coverage represent a huge revenue-booster? "No," says Jeremejev. "Kuaishou will more than likely spend more than it earns promoting its Olympic coverage, and trying to outdo TikTok in AUM. That's the only metric that truly matters right now, in another classic case of Chinese tech wars of attrition."