2 快手vs.抖音：流量为王时代，谁将赢得终局之战？

Kuaishou takes on TikTok and its Chinese sibling
快手对阵 TikTok 及其中国姐妹抖音
"We aim to be the most customer-obsessed company in the world," declares the opening line in the 700-page prospectus from Kuaishou, a Chinese video app. The firm's revenues 1_____(soar) in recent years, reaching 25bn yuan in the first six months of 2020, up by nearly half on the previous year.
Amid this exuberance two threats loom. The first comes from China's 2______(increase) hands-on regulators. In November they mandated(规定) that video apps like Kuaishou impose daily and monthly limits on the amount that users can tip live-streamers.
Douyin, TikTok's Chinese sister app and Kuaishou's arch-rival, is better insulated（避开） from the regulatory crackdown（打击）. Like Kuaishou, it operates a live-streaming business. But unlike its 3_____(compete), it earns most of its revenues from online ads.
For comparison, adverts accounted 4_____ just 28% of Kuaishou's revenue mix in the first half of 2020. The company may now try to raise that share. To do so Kuaishou will have to overcome the somewhat outdated(过时的) perception(观念) 5_____ its users are disproportionately folk living in small cities and rural areas with less money to buy 6_____(advertise) wares.
The second threat is the potential for a price war between Kuaishou and Douyin. For both platforms, user growth is 7_____(large) a function of the appeal of their video content, 8_____ in turn depends on the caliber(才华) of the producers behind it. A race to the bottom, whereby each firm lowers 9_____(it) "take rate" on tips and ad sales to lure（吸引） popular broadcasters from the other app, would depress margins.
Despite its domestic challenges, Kuaishou is proceeding apace with its global ambitions. But it still lacks the name-recognition of TikTok, though that may prove 10_____(be) a blessing in disguise（假装）.
Keys:
1 have soared  2 increasing  3 competitors  
4 for  5 that  6 advertised  7 largely  
8 which  9 its  10 to be