News emerged recently that Huya and Douyu, leading game livestreaming platforms in China, are implementing internal layoffs. Both companies have responded to relevant news.
Huya, a live streaming platform for games in China, announced its third-quarter financial report on Tuesday, showing its total net revenue reaching $461.8 million, up 5.7% year-on-year.
Last week was significant for the esports industry in China as the Chinese anti-monopoly authority terminated the merger between China’s two largest gaming live streaming companies - Douyu and Huya. Both live streaming platforms are controlled by Chinese conglomerate Tencent Holdings, and Tencent would have had a 70% market share of the live stream gaming sector if the merger had gone ahead.
Chinese video and live streaming company Bilibili announced that the company has agreed to share media rights for the 2020 League of Legends World Championship (Worlds) with Douyu, Huya, and eGame.
Chinese game-centric live streaming platform DouYu International (Nasdaq: DOYU), Monday reported a 33.9% year-on-year increase in total net revenues in the second quarter of 2020, beating the company’s previous estimate.
Benefitting from the expansion of its user base, Huya, a leading game live streaming platform in China, continued gaining profits for the seventh consecutive quarter, according to its newly released earnings report in the second quarter of 2019.
China in all respects is a game streaming Eden. With a vast population and prodigious strides in tech, it will hardly run out of young virtual reality pundits willing to show off their gaming skills online in the near future.
In Episode 43 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma dive into the world of gaming live streaming, which is a pretty big industry in China. Specifically, our co-hosts focus primarily on two companies, Douyu and Panda.TV.
Inke Inc. welcomed its first trading day on July 12 on the Hong Kong Stock Exchange, starting with a 40 percent surge on its share price within the first 15 minutes.
In the first half of 2018, eight live-streaming platforms in China raised approximately 10 billion yuan (US$11.6 billion). Among them, leading platforms HUYA Inc. and Douyu TV account for nearly 70% of the total.
According to Chinese media reports, the popular live-streaming platform Douyu TV, is rumored to go public in Hong Kong next month at a valuation of $700 million.
