Why is it difficult to survive in the live broadcasting industry?

Here are two reasons. Take Huya and Douyu as examples.
One is realization. In the first quarter of this year, Huya's revenue was 2.46 billion yuan, a year-on-year decline, and its net profit was 46.6 million yuan, a year-on-year decrease of 80%; Douyu achieved a revenue of about RMB 1.8 billion, a decrease of 16.6% and a net loss of more than 80million.
The second is the user. In the first quarter of this year, the average MAU (monthly live users) of the mobile terminal of Huya was 81.9 million, an increase of 8.5% year on year; The average MAU of Douyu's mobile terminal was 55.1 million, a year-on-year decrease of 6.8%.
As we can see, users and revenues are declining on these two large live broadcast platforms.