FB Pixel no scriptChinese live-streaming platform Douyu reports profits after its struggling IPO | KrASIA
MENU
KrASIA
News

Chinese live-streaming platform Douyu reports profits after its struggling IPO

Written by Song Jingli Published on   2 mins read

Share
Douyu is now the largest game-centric live-streaming site in China by MAU.

China’s game-centric live streaming platform Douyu disclosed on Tuesday that it booked RMB 1.9 billion (USD 272.8 million) total net revenues in the second quarter of this year, up 133.2% year-on-year, driven by both active user base and paying user growth.

Douyu’s monthly active users increased 32.6% year-on-year to reach 162.8 million in the second quarter, while its average paying user base seized 6.7 million, an increase of 123.3% from the 3.0 million in the second quarter of 2018.

The streaming site backed by Tencent reported a net income of RMB 23.2 million (USD 3.4 million), compared to a net loss of RMB 228.7 million in the second quarter of last year.

Douyu’s CEO Chen Shaojie said the company will continue to focus on building a game-centric premium content ecosystem, while strategically improving monetization efficiency across all content genres.

In early June, Douyu updated its initial public offering prospectus, reporting a net profit of RMB 18.2 million (USD 2.7 million) for the first quarter of this year, ending its loss-making history for the first time. In the middle of July, the company went public in the United States, raising USD $775 million after pricing its US IPO at the low end of its marketed range. Douyu received a total of approximately US$489.9 million in net proceeds from the IPO, while the rest mainly went to its shareholders who sold shares via the IPO.

After the market consolidation, Douyu is now the largest game-centric live-streaming site in China by monthly active user (MAU), beating its main competitor Huya, which has not released its Q2 earnings.

Huya initially went public in 2018, leaving Douyu behind to endure a difficult financing time and a weakening live-streaming market. Panda TV, the country’s third-largest game-centric live streaming site, went broke earlier this year.

However, short video app Kuaishou claimed to have the most active daily users in China’s video game streaming sector, KrAsia reported in July, citing internal data provided by the startup.

Kuaishou said its daily active users (DAUs) has exceeded 35 million, while third-party market research firm QuestMobile’s data showed that Douyu’s DAUs in early June reached 15 million.

Share

Auto loading next article...

Loading...