The following is a summary of the DouYu International Holdings Limited (DOYU) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Total net revenue decreased by 21.8% year-over-year to RMB1.06 billion.

• Gross margin in Q3 2024 was 5.7%, down from 14.2% in the same period of 2023.

• Net income for the quarter was RMB3.4 million, compared to RMB76.4 million in the same quarter of the previous year.

• Live streaming revenue was down 34.7% year-over-year, decreasing to RMB0.75 billion.

Business Progress:

• Introduced innovative business models and partnerships to strengthen new revenue streams.

• Successfully executed strategies to optimize content costs and enhance streamer management efficiency.

• Launched Black Myth: Wukong, leveraging it to boost traffic and user engagement on the platform.

Opportunities:

• Leveraged the popularity of Black Myth: Wukong to draw in new users and increase platform engagement.

• Innovations in commercialization, including various game prop sales strategies, aimed at diversifying and stabilizing revenue streams.

Risks:

• Increased competition from short video platforms and a decline in traffic, particularly during the peak summer season.

• Macroeconomic pressures and reduced consumer spending behavior impacting revenue, especially in live streaming.

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