This App Will Give Away 1 BILLION Yuan for Chinese New Year!

Source: SCMP

As the exclusive red packet partner for next years Spring Festival Gala, Chinese short video app Kuaishou will pour 1 billion yuan (US$143 million) of cash into a red packet campaign for Lunar New Year next year, it announced on Wednesday.

Since 1983, watching at least part of China Central Televisions (CCTV)s Spring Festival Gala has been a national tradition for families in China. Last year, the programme dubbed Chinas Super Bowl and recognised in the Guinness World Records as the most-watched national network TV broadcast attracted over 1.1 billion viewers at home and abroad.

The show has been a promotional battleground among internet companies since Alibabas Alipay and Tencents WeChat first introduced virtual red packets in 2015, sparking a battle for consumers trying to grab as many as they could using their smartphones.

By becoming the exclusive red packet partner of the gala, Kuaishou will be the only means by which people can snatch the digital cash gifts during the programme. This years partner was search engine operator Baidu.

Kuaishous cash giveaway next year will the highest amount ever in the history of the Spring Festival Gala, Kuaishou and China Media Group the parent company of CCTV said in a joint press conference.

At the 2020 Spring Festival Gala, digital red packets will be given out to viewers who watch video clips and like the 2020 Spring Festival Gala on Kuaishou, according to Kuaishou vice-president Chen Sinuo.

Kuaishous partnership with the Spring Festival Gala comes after the founders, Su Hua and Cheng Yixiao, set a target for the company to reach 300 million daily active users by February.