Douyin and Kuaishou Accounts Gained 10M Followers During CNY
CNY is typically a peak season for video apps with people having more free time to kill. This year that was magnified with the virus outbreak as people were asked to stay indoors and there were even less entertainment options. Naturally many Douyin and Kuaishou accounts saw massive growth spurts with three accounts each gaining over 10 million new followers. 574 accounts gained between 100k-500k new followers.
The People’s Daily Douyin account saw the most growth with 12.8 million new followers. Popular science Douyin account 回形针PaperClip shared a video educating people about the Coronavirus that went viral and got over 1.5 billion views.
Governmental organization and state-run media accounts experienced the most growth on both platforms, followed by funny videos and celebrity videos on Douyin and gaming, funny, and food videos on Kuaishou. Check out the article for lists of the top 30 fastest growing accounts on each platform and a full breakdown of growth by content type.
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Effect Of The Virus On The Media Industry
As this meme above shows, Q1 is not only rough for brands, but for KOLs and the media industry as well. By and large, brands have cancelled their advertisements and KOL campaigns for February. This article predicts the industry will recover by May, but may not have a full recovery until the 618 shopping festival.
Media related to the dining, real estate, movie promotion, and cross border e-commerce are suffering the most while some businesses in the gaming, health & fitness, and insurance industries are actually increasing their ad budgets.
Government mandates to stay at home and not gather in groups are affecting new content creation, particularly KOLs that rely on teams for video or live streaming content production. WeChat Official Account KOLs and WeMedia are not as affected because their teams can easily produce content from home.
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Alibaba Heavily Promotes Juhuasuan During This Year’s Spring Festival Gala
Alibaba once again collaborated with the Spring Festival Gala, this year focusing on the group-buy platform Juhuasuan(聚划算) in an effort to gain a stronger foothold in the Xiachen Market (下沉市场). Xiachen market refers to consumers in China’s 3rd tier cities and below. These consumers are seen as the next big opportunity for brands, commerce platforms and apps in China. According to Alibaba, about 70% of Taobao and Tmall’s new users are from Xiachen market.
The Spring Festival Gala reaches over 1 billion viewers every year. It is a tradition for Chinese families to sit together and watch the show as a family and Xiachen users are the largest viewer demographic.
Two interesting campaigns:
- During the gala they ran a special campaign choosing 50k platform users and paying for all of their products placed in their shopping carts. This incentivized people to download the app and browse through it and find products they like.
- For the first time since the Gala launched 37 years ago it created and sold a Gala-branded product. Taobao sold a bowl called a Chunwan(春碗) which was a play on words for the Chinese name of the Gala or 春晚. “Wan” in Chinese means bowl(碗) and evening(晚). The Gala is following in the steps of the Palace Museum, leveraging its IP for product collaborations.
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