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Huya and Douyu Lose Money for Consecutive Quarters

By Weilin Li
Aug. 17, 2022 updated 09:55

Game streaming platforms Huya and Douyu yesterday released their financial reports for Q2, where Huya saw its revenue reach 2.275 billion CNY (~336 million USD), a year-on-year decrease of 23.1% while logging a net loss of 19.4 million CNY.

In Q2, Douyu’s revenue reached 1.83 billion CNY (~270 million USD), marking a 21.6% decrease year on year, and the company saw a net loss of 38.8 million CNY.

Huya is investing more in buying tournament broadcasting copyrights and Douyu is reducing its cost for livestreaming content to improve efficiency, according to their financial reports.

Both sites are faced with the problem of the largely reduced income from livestreaming business and drops in advertising revenue. Video sites Douyin, Kuaishou, and Bilibili are posing increasing challenges to these two platforms.

Source: Sohu