The following is a summary of the DouYu International Holdings Limited (DOYU) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Total net revenues decreased by 25.9% year-over-year to RMB1.03 billion.

• Livestreaming revenues dropped by 37.2% compared to the previous year, resulting from reduced promotional activities and offering of lower-priced revenue products.

• Gross profit and gross margin decreased, with gross profit at RMB84.2 million and gross margin at 8.2%.

• Net loss for the quarter amounted to RMB49.2 million, compared to a net income in the same period last year.

Business Progress:

• Emphasized content innovation and a strong focus on commercialization through game-specific membership programs.

• Broadened game developer collaborations and the introduction of innovative business revenues.

• Continued self-produced content and esports tournaments, enhancing user engagement and platform appeal.

• Implemented a strategic shift towards refined streamer management and recruitment, enhancing both the quantity and quality of streamer interaction on the platform.

Opportunities:

• Enhanced commercialization collaborations with game developers and diversified innovative business revenues through partnerships facilitating new revenue streams.

• Development of game-specific membership programs to meet user preferences and increase monetization.

Risks:

• Market competition from short-video platforms, leading to lower mobile MAUs and impacting user stickiness and engagement.

• Macroeconomic challenges that impact users' willingness to spend on livestreaming services, resulting in a shift in revenue structure and a focus on more budget-friendly products.

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