The following is a summary of the DouYu International Holdings Limited (DOYU) Q4 2023 Earnings Call Transcript:
Financial Performance:
DouYu International Holdings Ltd reported an adjusted net profit of RMB 154 million for the full year of 2023.
Q4 2023 revenues decreased by 22.9% YoY to RMB 1.3 billion, mainly due to reduced revenue-generating promotions and a smaller user base.
Live streaming revenues were down 36.1% YoY at RMB 1.02 billion.
Advertising and other revenues increased by 226.5% YoY to RMB 275.2 million, driven by innovative businesses.
Revenue sharing fees and content costs decreased by 30.3% to RMB 0.89 billion.
Gross profit and gross margin decreased due to lower live streaming revenues.
Decreased marketing expenses led to a decline in sales and marketing expenses by 32.2%.
The company reported a net loss of RMB 62.2 million in Q4 2023.
Business Progress:
DouYu aims to enhance commercialization by strengthening cooperation with game developers and adopting AI-driven strategies.
A healthy Q4 2023 performance reported with 51.7 million mobile MAUs and 3.7 million paying users.
DouYu plans to diversify its revenue streams by deepening partnership with game developers.
The company restructured their content ecosystem business into three core divisions to improve operating efficiency.
DouYu is focused on revenue diversification, optimizing operating efficiencies, and cost management.
It is working on amplifying the influence of top-tier streamers and increasing visibility of mid-tier streamers.
Plans to bolster its gaming membership business and broaden the scope in 2024.
More details: DouYu IR
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