Douyu’s funding to boost live-streaming
Print Edition
TECHNOLOGY giants Tencent and Phoenix Capital invested 1.5 billion yuan (US$226 million) in China’s live-streaming website Douyu.com in its latest round of financing, Shanghai Daily learned yesterday
The huge investment marks the burgeoning development of the industry in China where audiences are willing to pay, industry insiders said.
Wuhan-based Douyu closed the Series C financing round following a 400 million yuan financing in March.
As of March, Douyu boasted an average daily active users of around 15 million people. It leads in the Chinese live-streaming market with around 200 million active users monthly.
Douyu’s most popular programs are game streaming and those featuring beautiful and sexy female hosts. Viewers can buy imaginary gifts such as images of flowers or bottles of beer for their favorite hostesses who receive a portion of the cash, with the site getting a hefty cut.
In 2016, China’s live-stream market revenue is set to hit 15 billion yuan. The figure will rise to 60 billion yuan by 2020, according to Founder Securities.
In the US, there are live streaming services like Meerkat and Twitter’s Periscope that allow people to use their smartphones to shoot video. Facebook has recently expanded its version, Facebook Live, to all users.
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