Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Huya Live Sets Company Record After 20% YoY Growth – $459M In Q2 2021

Huya Live is one of China’s largest live-streaming platforms with the absence of foreign tech companies prohibiting companies like Twitch to operate in the country. According to data presented by Safe Betting Sites, Huya Live generated its largest-ever quarterly net revenue in Q2 2021 – $458.8M.

Huya Generated Company Record Quarterly Net Revenue In Q2 2021 – More Than $450M

The ban on foreign tech companies in China means, companies like Twitch and Facebook are barred from operating in the country. This led to the creation of China’s own robust tech ecosystem that allowed domestic tech companies to flourish, sometimes even at an international level. Huya Live is one of these companies, a live-streaming platform that specializes in video-game streaming, much like Twitch.

Huya Live, much like the rest of the gaming industry globally, experienced an uptick in engagement in 2020 as a result of the lockdowns imposed by the COVID-19 pandemic. The momentum from the prior year seems to have carried over as Huya generated its largest quarterly net revenue in Q2 2021 – a record $458.8M. Q2 2021’s figure is a 20.17% YoY increase from Q2 2020’s net revenue of $381.8M. The figure is also a 15.4% QoQ increase from Q1 2021.

Huya Live’s MUA On The Rise In 2021

Huya’s average number of monthly active users also significantly increased in 2020 and amounted to 178.5M by the end of 2020. This momentum looks to have been sustained as Q2 2021 recorded the second-highest average number of MUAs at 77.6M. In May 2021, Huya was the leading eSport streaming platform in China based on MUAs but was also the leading mobile-live streaming app in China in general for the month with 26.9M MUA.

Rex Pascual, eSports editor at Safe Betting Sites, commented:

“Huya Live has been on the news recently after a proposed merger between the streaming platform and competitors DouYu was blocked by the Chinese government who have initiated a crackdown on monopolies in China’s tech sector. Nevertheless, China still remains the largest eSports market in the world, and companies like Huya Live should continue to prosper.”

You can read more about the story with more statistics and information at: https://www.safebettingsites.com/2021/09/20/huya-live-sets-company-record-after-20-yoy-growth-459m-in-q2-2021/

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Auckland: Quarterly Update: Rents Stable During Third Quarter

The average weekly rent for a home in Auckland moved less than $1 during the third quarter, ending 30 September at $606.25, according to data from more than 16,000 rental properties managed by Barfoot & Thompson... More>>



Electricity Authority: Review Of Competition In The Wholesale Electricity Market Raises Questions

In March 2021 the Electricity Authority announced it would conduct a review into competition in the wholesale electricity market. The period of the review covers the sustained elevated electricity prices since an unplanned outage at the Pohokura gas facility in Spring 2018... More>>


Government: RSI ‘State Of The Nation’ Report Published
latest research, science and innovation system report card is now available, and outlines how the system is performing, Research, Science and Innovation Minister Megan Woods has announced. “The report seeks to increase transparency, act as a reliable data source and stimulate discussion... More>>


LAWA: New Zealand Lakes Are Diverse In Their Condition And Type

Freshwater scientists have come together through the Land, Air, Water Aotearoa (LAWA) project to summarise the condition of New Zealand’s monitored lakes. They have found a varied picture of lake condition... More>>



Pamu & Westpac: Market-leading Sustainability-Linked Loan

Westpac NZ and Pāmu have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise. Pāmu, also known as Landcorp, is New Zealand’s biggest farming business. It will borrow $85m from Westpac NZ over three years... More>>


Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>