China’s Game Streaming Market To Generate $4.5B Revenue In 2020 As Top Two Gaming Platforms Merge
According to the research data analyzed and published by SafeBettingSites.com, China’s game streaming market will generate $4.5 billion in 2020, up from $3.11 billion in 2019. The space has been on an uptrend. From $1.21 billion in 2017, it is projected to reach $7.44 billion in 2022.
Based on a study made by Newzoo, China will be the top gaming market globally in 2020 with $40.854 billion in revenue. The US will be second with $36.921 billion.
Huya and DouYu Merger to Create $10 Billion Game Streaming Behemoth
iResearch data revealed that the top two streaming services in China soared remarkably. Huya.com saw its revenue shoot up by 79.6% year-over-year (YoY) as DouYu surged by 99.3% YoY.
During Q2 2020, Huya had an average of 168.5 million monthly active users (MAUs). DouYu was close behind with 165.3 million MAUs. Huya made $2.7 billion in revenue in that quarter, up by 34.2% YoY according to Market Beat. On the other hand, DouYu made $2.51 billion, posting a 34% increase YoY.
Tencent mediated a deal that will see the two merge to create an industry giant worth nearly $10 billion. The agreement is set to take effect in H1 2021 and will see the two enjoy a combined user base of over 300 million.
China’s game streaming market has about 340 million users. As such, the new entity will have control over 80% of the market. Tencent will have a 67.5% share in the new company as it currently holds a 38% stake in DouYu and is the majority shareholder in Huya. According to Macro Trends, Tencent is worth $691.16 billion as of October 21, 2020. It owns some of the most lucrative gaming titles including PUBG Mobile, Call of Duty and Honor of Kings among others.
The full story, statistics and information can be found here: https://www.safebettingsites.com/blog/2020/10/23/chinas-game-streaming-market-to-generate-4-5-billion-revenue-in-2020-as-top-two-gaming-platforms-merge/