The average DAUs on Kuaishou apps and mini programs in China was 379.2 million in Q1 2021, representing an increase of 26.4% YoY. The average DAUs on Kuaishou app was 295.3 million, representing an increase of 16.6% YoY.
Kuaishou MAU in Q1 reached 519.8 million.
The average daily time spent per DAU was 99.3 minutes, representing an increase of 16.5% from 85.2 minutes for the same period of 2020.
The average online marketing services revenue per DAU was RMB29.0, representing an increase of 124.8% from RMB12.9 for the same period of 2020.
The total GMV of e-commerce transactions facilitated on Kuaishou platform was RMB118.6 billion, representing an increase of 219.8% from RMB37.1 billion for Q1 2020.
Kuaishou’s total revenues in Q1 2021 increased by 36.6% to RMB17.0 billion from RMB12.5 billion for the same period of 2020. Online marketing services revenues increased by 161.5% to RMB8.6 billlion, contributing 50.3% of total while live streaming contributed 42.6%.
Five years have passed since Taobao Live was established in early 2016, and live streaming e-commerce has emerged. Last year, the total transaction volume of Taobao live streaming exceeded 400 billion yuan.
Douyin set up an e-commerce department in 2020 with a total GMV of close to 500 billion yuan. Kuaishou started e-commerce in 2018, and achieved nearly 400 billion yuan GMV last year.
Live streaming e-commerce to account for over 20% of China online shopping GMV by 2022.
Kuaishou’s Q1 gross profit increased by 64.1% to RMB7.0 billion from RMB4.3 billion for the same period of 2020. Gross profit margin for Q1 2021 increased to 41.1% from 34.2% in the same time of 2020.