The game-centric live streaming platform in China Douyu reported an 8% growth YoY in monthly active users of 165.8 million in Q4 2019, from 153.5 million in Q4 2018. The average mobile MAUs in Q4 2019 increased by 29.3% to 54.4 million from 42.1 million in Q4 2018.
Douyu’s quarterly average paying user count in the fourth quarter of 2019 increased by 70.8% to 7.3 million from 4.2 million in the same period of 2018.
Fourth Quarter 2019 Highlights
- Total net revenues for Q4 2019 increased by 77.8% to RMB2,062.9 million (US$294.9 million) from RMB1,160.2 million in Q4 2018.
- Live streaming revenues increased by 84.1% to RMB1,892.5 million (US$270.5 million) from RMB1,028.1 million in Q4 2018, primarily driven by the increase in both the number of paying users and ARPPU
- Gross profit increased by 934.6% to RMB375.2 million (US$53.6 million) from RMB36.3 million in the same period of 2018, implying a gross margin of 18.2% in Q4 2019, compared with 3.1% in Q4 2018.
- Net income was RMB157.4 million (US$22.5 million), compared with a loss of RMB271.4 million in Q4 2018, implying a net margin of 7.6% in Q4 2019.
- Adjusted net income was RMB186.4 million (US$26.6 million), implying an adjusted net margin of 9.0%, compared with an adjusted net loss of RMB232.5 million in the same period of 2018.
Full Year 2019 Highlights
- Total net revenues in the full year of 2019 increased by 99.3% to RMB7,283.2 million (US$1,041.1 million) from RMB3,654.4 million in the same period of 2018.
- Gross profit in the full year of 2019 increased by 692.0% to RMB1,196.2 million (US$171.0 million) from RMB151.0 million in the same period of 2018, implying a gross margin of 16.4% in the full year of 2019, compared with 4.1% in the same period of 2018.
- Net income in the full year of 2019 was RMB33.3 million (US$4.8 million), compared with a net loss of RMB876.3 million in the same period of 2018, implying a net margin of 0.5% in the full year of 2019.
- Adjusted net income in the full year of 2019 was RMB346.4 million (US$49.5 million), implying an adjusted net margin of 4.8%, as compared with an adjusted net loss of RMB818.5 million in the same period of 2018.
Huya expects its total net revenues to be in the range of RMB2,100 million to RMB2,160 million in the first quarter of 2020, representing year-over-year growth between 41.0% and 45.0%.
Check out its competitor Huya’s Q4 performance here.