Sunday, 2024 July 21

Huya’s Q2 revenue hits USD 458.8 million with monthly active users exceeding 77.6 million

Huya’s net revenue in the second quarter rose 9.8% and reached RMB 2.96 billion (USD 458.8 million), according to the company’s financial results released Tuesday.

Average monthly active users of Huya Live in Q2 2021 increased by 2.6% to 77.6 million. Livestreaming contributed the most to the company’s revenue. In all, the segment generated RMB 2.58 billion (USD 399.5 million) in Q2 2021, marking a modest 0.6% growth while overseas livestreaming revenues tick up.

Revenues from advertising and other sources, like content licensing, increased by 189.9% to RMB 383.2 million (USD 59.4 million).

Huya’s enriched content delivered steady growth for the number of mobile users, said Rongjie Dong, the company’s CEO. “Going forward, it is crucial for us to continue to expand our content ecosystem and optimize user experience in order to solidify our foundation for future growth opportunities.”

Company CFO Catherine Liu said that Huya will continue investing in quality content to grow its user base and improve monetization strategies.

Huya’s main competitor, Douyu, also released its Q2 financial report earlier this week, showing slightly lagging performance. Douyu’s total net revenues in the second quarter of 2021 were RMB 2.34 billion (USD 361.9 million), with average mobile MAUs increasing by 3.9% to reach 60.7 million.

Last month, China’s State Administration for Market Regulation, or SAMR, blocked a merger of Huya and Douyu orchestrated by Tencent, which holds stakes in both companies. Huya and Douyu and two of the largest game livestreaming sites in China, and SAMR stepped in due to antitrust concerns.

Huya is the frontrunner in China’s game livestreaming market. It holds more than 40% market share. Douyu follows with around 30% control of the market, according to SAMR’s estimates.

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Jiaxing Li
Jiaxing Li
Report on China’s turbulent tech scene with deep context and analysis: cover tech policies and regulations; write about major internet firms like Alibaba and Tencent, and a range of tech-driven sectors from the chip, edtech, EV, to metaverse and gaming industry.

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