Kuaishou Reports Strong 2024 Earnings Driven by Kling AI Growth
Chinese short video platform Kuaishou announced its fourth-quarter and full-year financial results for 2024 on March 25, revealing significant growth in both revenue and profitability. The company reported an 11.8% year-on-year increase in total revenue, reaching RMB 126.9 billion ($17.6 billion). More notably, its adjusted net profit surged by 72.5% to RMB 17.7 billion ($2.5 billion). A key driver behind this financial success is Kling AI, the company’s video-generation artificial intelligence model launched in June 2024. Since its commercialization, Kling AI has generated over RMB 100 million ($14 million) in revenue. The service operates on a tiered membership model for individual users, with prices ranging from RMB 66 to RMB 666, and offers API subscriptions for businesses. With over 20 iterations released since launch, the platform has attracted more than 5 million users. By November 2024, monthly revenue from Kling AI had already exceeded RMB 10 million. These figures highlight Kuaishou’s successful integration of AI technology into its core business strategy, contributing substantially to its robust annual performance.
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Kuaishou Reports Strong 2024 Earnings Driven by Kling AI Growth
Chinese short video platform Kuaishou announced its fourth-quarter and full-year financial results for 2024 on March 25, revealing significant growth in both revenue and profitability. The company reported an 11.8% year-on-year increase in total revenue, reaching RMB 126.9 billion ($17.6 billion). More notably, its adjusted net profit surged by 72.5% to RMB 17.7 billion ($2.5 billion). A key driver behind this financial success is Kling AI, the company’s video-generation artificial intelligence model launched in June 2024. Since its commercialization, Kling AI has generated over RMB 100 million ($14 million) in revenue. The service operates on a tiered membership model for individual users, with prices ranging from RMB 66 to RMB 666, and offers API subscriptions for businesses. With over 20 iterations released since launch, the platform has attracted more than 5 million users. By November 2024, monthly revenue from Kling AI had already exceeded RMB 10 million. These figures highlight Kuaishou’s successful integration of AI technology into its core business strategy, contributing substantially to its robust annual performance.
TechNode