China Media Group (CMG) and Kuaishou held a joint press conference officially announcing a short video strategic partnership on Tokyo 2020 Olympics Games and the Beijing 2022 Winter Olympics. Kuaishou now holds the official broadcasting rights for Tokyo 2020 Olympics and Beijing 2022 Winter Olympics. Kuaishou is the first short video and live-streaming platform globally to become an official broadcaster of the Olympics Games.
Su Hua, CEO of Kuaishou Technology, emphasised at the conference that Kuaishou remains true to its beginning aspirations of recording and sharing life stories. He also notes that it's an honor for Kuaishou to be able to document and enjoy the Olympic Games with all users. As a pioneer since 2011, Kuaishou has provided internet users globally the opportunity to record and share their life stories. The platform witnessed the growth and development of various aspects of society and gradually became a base for modern day social media platforms. Presently Kuaishou has 1 billion monthly active users from all around the globe. People from different countries of varying ages and diverse lifestyles get to interact with and learn from each other. Kuaishou was chosen as its principles and communities are in alignment with the spirit of the Olympic Games.
Su also mentioned that Kuaishou's multiple successful partnerships with CMG has allowed for Kuaishou to explore new ways to allow users to enjoy a more convenient participation experience for large scale events. For example, the parade was first live-streamed from multiple angles during the 2019 National Day celebration, which garnered over 1 billion views. Furthermore, CCTV's 2020 New Year's Gala debuted a new Kuaishou interactive feature of "videos+likes." The new feature gathered over 63.9 billion interactions - defined as user comment and sending red packets - and even setting a new record of number of likes for an event. The feature has influenced users to now watch the New Year's Gala on dual screens for a boosted experience.
Kuaishou is confident in providing top quality broadcast of the games as the platform is home to thriving sports communities and has much experience in hosting broadcasts about major sporting events. According to Su, there are nearly 50,000 high-quality sports content creators and 150 million users who are sports fans on Kuaishou. Currently, the sports content on Kuaishou covers sports like football, basketball, boxing, snooker, racing, extreme sports, and outdoor sports. In March, Kuaishou even became the official livestream and short video partner of the Chinese Basketball Association (CBA). The total views of the live streams during the 2020-2021 season reached a high of 810 million and achieved over 360 million interactions. Kuaishou users have also repurposed content from the live stream to create meaningful and enriching content of their own, indicating an extremely successful event.
For the Olympic Games partnership, Kuaishou announced plans to make use of its unique product capabilities and technological expertise to create a series of interactive features that can allow users to participate virtually as part of the Olympics. At the same time, Kuaishou is committed to improve its promotional methods of the games, to explore different angles of capturing the games and ensure full coverage of all events. Kuaishou will work with CMG in hopes of producing the most interactive experience with extensive coverage of the Olympic Games in history.
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