Q2 2024 Douyu International Holdings Ltd Earnings Call Transcript
Key Points
- DouYu International Holdings Ltd (DOYU) has undertaken several initiatives to foster a healthy, vibrant game-centric content ecosystem, focusing on top-tier streamers and premium content.
- The company has deepened its cooperation with game developers, exploring diverse and sustainable partnership models.
- DouYu broadcasted nearly 30 large-scale official tournaments and over 50 self-produced eSports tournaments during the quarter, enhancing user engagement and driving monetization.
- The company has implemented various streamer recruitment initiatives, widening the recruitment scope and improving streaming incentives.
- Innovative business, advertising, and other revenues increased significantly by 80.7% year-over-year, driven by new revenue streams such as voice-based social networking services.
- Quarterly average mobile MAUs decreased by 12.3% year-over-year, primarily due to competition from short video platforms.
- Total net revenues decreased by 25.9% year-over-year, with livestreaming revenues down 37.2% due to challenging macroeconomic conditions.
- The number of paying users declined, and quarterly ARPU decreased by 25.5% year-over-year.
- Gross profit and gross margin both declined year-over-year, primarily due to decreased livestreaming revenues outpacing the reduction in cost of revenues.
- Net loss for the second quarter of 2024 was RMB49.2 million, compared with net income of RMB6.8 million in the same period of 2023.
Good morning and good evening, ladies and gentlemen. Thank you, and welcome to DouYu International Holdings Limited second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks.
I will now turn the call over to our first speaker today, Ms. Lingling Kong, IR Director at DouYu. Please go ahead, ma'am.
Thank you. Hello, everyone. Welcome to our second quarter 2024 earnings call. Joining us today are Mr. Mingming Su, Chief Strategy Officer; Mr. Hao Cao, Vice President of Finance; and Ms. Simin Ren, Vice President, from Interim Management Committee. You can refer to our second quarter 2024 financial results on our IR website at ir.douyu.com. You can also check a replay of this call when it becomes available in a few hours on our IR website.
Before we start, please note that this call may contain forward-looking statements made pursuant to the Safe Harbor
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
