Biz / Tech

Live streaming platform sees huge jump in net income

Live streaming social platform YY said net income in the second quarter jumped 51.6 percent with growing number of paying users and higher interaction. 

Live streaming social platform YY said net income in the second quarter jumped 51.6 percent to 873.2 million yuan (US$132 million), thanks to a growing number of paying users and higher interaction. 

Total revenue jumped 44.6 percent to 3.77 billion yuan with the introduction of new broadcasting channels and an upgrade of product technology. 

Live streaming revenue increased 50 percent to 3.56 billion yuan.  

The number of its monthly active users increased by 21.3 percent year over year to 80.2 million, and the total number of live streaming paying users increased by 21.1 percent year over year to 6.9 million.

YY offers video and live-streaming services that consumers use to watch and participate in a wide range of online activities, including the broadcasting of live online games, live music shows, variety programs and sports broadcasting, and online learning.

Its video gaming live-streaming subsidiary Huya went public on the New York Stock Exchange earlier this year. For the third quarter, it expects revenue to be between 3.89 billion yuan and 4.02 billion yuan, an annual increase of between 25.8 and 30 percent. 

BOCOM International said in a research note today that YY’s annual revenue growth will slow down to about 30 percent in the next two years, but potential income from video games which are scheduled to be launched later this year could bring an additional increase. 


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