TapTechNews June 5th news. Today, Douyu announced in its financial report announcement that on June 4, 2024, Douyu further renewed its strategic cooperation agreement with Tencent.
The agreement initially took effect on January 31, 2018, and was then replaced by the strategic cooperation agreement revised and re-signed on April 1, 2019. The new agreement is basically the same as the revised agreement in 2019, but the term is extended by three years.
TapTechNews found that Tencent, as the largest shareholder of Douyu, currently holds 38.2%. The company once considered merging the two major live streaming platforms, Douyu and Huya, in 2020, but the merger was called off by the State Administration for Market Regulation in 2021.
Douyu officially stated: In the first quarter of 2024, although facing the pressure from the macro environment and the adjustment of the live streaming business, remarkable progress has been made in the commercial transformation. By deepening the service and cooperation in the game industry, starting from the sale of game props, game advertising and distribution services, etc., it successfully promoted the diversification and healthy growth of the platform's income.
The advertising and other businesses revenue of Douyu in the first quarter of 2024 was 239 million yuan, and the contribution ratio of revenue rose to 23%, which was a significant improvement compared to 7.7% in the same period of the previous year.