The following is a summary of the DouYu International Holdings Limited (DOYU) Q1 2024 Earnings Call Transcript:

Financial Performance:

• DouYu reported Q1 2024 total net revenues of RMB1.04 billion, a 29.9% decrease year-over-year.

• Livestreaming revenues were RMB0.8 billion, down 41.5% from RMB1.37 billion in Q1 2023.

• Advertising and other revenues increased by 109.3% to RMB238.8 million.

• Gross profit was RMB109.0 million, compared to RMB176.5 million in Q1 2023, with gross margin at 10.5%.

• Operating loss expanded to RMB166.9 million from an operating income of RMB27.3 million in the same quarter last year.

• Net loss was RMB88 million, compared to a net income of RMB14.5 million in Q1 2023.

Business Progress:

• DouYu focused on leveraging its strengths with game developers and optimizing its organizational structure.

• Broadcasted nearly 30 large-scale official tournaments, enhancing gaming event content.

• Implemented innovative operational strategies such as game prompt sales and a customer loyalty points system to improve user engagement.

• Upgraded the app's content categorization adding a tournaments category to elevate user experience and average viewing hours.

Opportunities:

• DouYu plans to significantly expand its collaboration approaches with game developers, focusing on game prompts sales and updating its game promotion model.

• Intends to grow its advertising and other revenues, with an expectation that the revenue share will exceed 20% in 2024.

Risks:

• The platform faces intense market competition, mainly from short video platforms impacting its MAUs.

• Soft macroeconomic conditions continue to pose risks affecting consumer spending and livestreaming revenue.

More details: DouYu IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.