Saturday, 2024 April 20

China’s second largest online gaming company NetEase eyes game-centric live-streaming business

NetEase, a major Chinese gaming company second only to Tencent, has started to recruit game-centric live streamers for Look, a live-streaming app which it had initially introduced as a platform for music lovers, reported 36Kr.

Look has a standalone app and also exists inside the NetEase Cloud Music app, which has gained 800 million users.

Although it’s not yet clear how it will build the connection between music lovers and game lovers it’s reasonable for NetEase, which has various copyrighted game titles, to tap into game-centric live streaming sector.

NetEase gained RMB 11.4 billion (USD 1.67 billion) in revenue from online games in the second quarter of this year, up by 13.6% year-on-year.

Tencent has already invested into game-centric live streaming platforms, including Huya and Douyu.

Douyu disclosed earlier this month that it booked RMB 1.9 billion (USD 272.8 million) in total net revenues in the second quarter of this year, up 133.2% year-on-year and made a net income of RMB 23.2 million (USD 3.4 million).

Huya’s total revenues increased by 93.6% to RMB2 billion (USD292.9 million) and its net income reached RMB 121.8 million (USD 17.7 million).

36Kr is KrASIA’s parent company.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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