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November 14, 2019

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YY’s 3rd-quarter revenue jumps 67.8%

Livestreaming social platform YY posted third-quarter revenue of 6.88 billion yuan (US$980 million), up 67.8 percent year on year, drawing synergy between live-streaming and short-form video services.

But company profit was down 27 percent to 574.1 million yuan after consolidating its results with Singaporean live-streaming site Bigo last year.

Live-streaming revenues increased by 66.2 percent to 6.47 billion yuan and total live-streaming paying users grew by 26 percent.

David Li, chairman and CEO of YY, attributed the rapid global user base growth to the company’s content localization, cross-platform synergy and artificial intelligence technology enhancement.

Bandwidth costs nearly doubled to 496.8 million yuan as the company’s overseas user base expanded and users spent more time on the platform.

Li expects the company to further expand its geographic coverage, innovate content formats and advance technology development to capitalize on the growing market demand for global video-based social media.

Globalization has been a key strategy as monthly active user through YY’s mobile services reached 470.1 million and around 78 percent of whom are overseas.

Likee, the company’s global short-form video platform, saw its mobile MAUs top 100.2 million, spiking more than 400 percent over a year ago.


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