Xiaomi reaches deal with online streaming site YY

Online streaming site YY said yesterday it has reached a collaboration with smartphone maker Xiaomi to operate Xiaomi’s entertainment live streaming service, Xiaomi Live. 

YY said revenue in the third quarter jumped 33 percent from a year ago to US$597 million, thanks to an increasing number of paying members and wider adoption of value-added service. 

"The cooperation will provide Xiaomi's users with a better experience in entertainment live streaming services and enable both companies to explore additional monetization opportunities,” said Chairman Li Xueling. 

It will provide Xiaomi with operation and technology know-how regarding live-streaming hosts and programs. 

The number of mobile live streaming monthly active users (MAUs) on YY's platform reached 88 million, up 21 percent compared with a year ago, while the number of paying users enjoyed a 26 percent rise.

Profit in the three months ended September 30 was up 19.7 percent to 787 million yuan (US$113 million), while operating expenses were up 54 percent to US$125.9 million, due to an increase in new recruiting and higher research and development spending.

Its video gaming live-streaming subsidiary Huya became an independent company and went public on the New York Stock Exchange earlier this year. 

YY said it expects to generate revenue in the range of 4.39 billion yuan and 4.54 billion yuan during the fourth quarter, representing a year-over-year increase of between 21 and 25 percent.