The following is a summary of the DouYu International Holdings Limited (DOYU) Q2 2024 Earnings Call Transcript:
Financial Performance:
Total net revenues decreased by 25.9% year-over-year to RMB1.03 billion.
Livestreaming revenues dropped by 37.2% compared to the previous year, resulting from reduced promotional activities and offering of lower-priced revenue products.
Gross profit and gross margin decreased, with gross profit at RMB84.2 million and gross margin at 8.2%.
Net loss for the quarter amounted to RMB49.2 million, compared to a net income in the same period last year.
Business Progress:
Emphasized content innovation and a strong focus on commercialization through game-specific membership programs.
Broadened game developer collaborations and the introduction of innovative business revenues.
Continued self-produced content and esports tournaments, enhancing user engagement and platform appeal.
Implemented a strategic shift towards refined streamer management and recruitment, enhancing both the quantity and quality of streamer interaction on the platform.
Opportunities:
Enhanced commercialization collaborations with game developers and diversified innovative business revenues through partnerships facilitating new revenue streams.
Development of game-specific membership programs to meet user preferences and increase monetization.
Risks:
Market competition from short-video platforms, leading to lower mobile MAUs and impacting user stickiness and engagement.
Macroeconomic challenges that impact users' willingness to spend on livestreaming services, resulting in a shift in revenue structure and a focus on more budget-friendly products.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.