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斗鱼第二季度扭亏为盈,创新业务连续十个季度同比增长
Di Yi Cai Jing· 2025-08-21 04:13
Core Viewpoint - Douyu has successfully reversed its performance in Q2 2025 by focusing on revenue diversification and cost efficiency amidst macroeconomic fluctuations and intensified industry competition [1][3]. Financial Performance - In Q2 2025, Douyu's total revenue reached 1.054 billion RMB, a year-on-year increase of 2.1%, driven by a significant growth of over 96% in innovative business revenue to 476 million RMB, marking ten consecutive quarters of year-on-year growth [1][4]. - The company achieved a net profit of 37.83 million RMB in Q2 2025, compared to a net loss of 49.20 million RMB in the same period last year; adjusted net profit under non-GAAP was 25.30 million RMB, up from a net loss of 45.50 million RMB [1][4]. - Douyu's gross profit for the quarter was 142 million RMB, representing a year-on-year increase of 68.5%, with a gross margin of 13.5% [1][4]. Revenue Diversification - Douyu has reduced reliance on a single revenue source by cultivating innovative businesses such as game item sales, membership value-added services, and voice social products [4][5]. - In Q2 2025, innovative business, advertising, and other revenues accounted for 45.2% of total revenue, a significant increase from 23.4% in the same period last year [5][6]. - The voice business revenue grew by 70.8% to 296 million RMB, with an average of 463,000 monthly active users and 81,000 monthly paying users in Q2 2025 [5][6]. Cost Management - Douyu's revenue cost decreased by 3.8% year-on-year, from 948 million RMB in Q2 2024 to 912 million RMB in Q2 2025, with significant reductions in sales and marketing expenses (down 20%), R&D expenses (down 44.9%), and general and administrative expenses (down 17.9%) [6][7]. - The company has focused on reducing low-return investment activities and content costs, contributing to improved profit margins [5][6]. User Engagement and Content Strategy - Douyu's mobile MAU reached 36.4 million, with 2.8 million paying users and an average ARPPU of 255 RMB in Q2 2025, reflecting a focus on high-value user segments [8][9]. - The company has strengthened its esports content ecosystem by securing exclusive event rights and innovating interactive gameplay, enhancing user engagement [8][9]. - The return of the League of Legends LPL event on July 19 further solidified Douyu's position as a key platform for esports content, with plans for the global championship in October [9][10]. Compliance and Governance - Douyu has implemented strict measures to combat illegal activities and maintain content integrity, permanently banning 1,146 live rooms and taking action against 832 accounts in Q2 2025 [11].
斗鱼Q2财报出炉:净利润回正,创新业务、广告和其他收入同比增长96.8%
Zheng Quan Shi Bao Wang· 2025-08-18 10:58
Core Insights - Douyu's Q2 2025 unaudited financial report shows total revenue of 1.054 billion yuan, a steady increase compared to the same period last year [1] - Gross profit reached 142 million yuan, representing a year-on-year growth of 68.5%, with a gross margin of 13.5% [1][2] - The company achieved a net profit of 37.83 million yuan, with an adjusted net profit of 25.28 million yuan [1][2] Revenue Breakdown - In Q2, Douyu's innovative business, advertising, and other revenues grew by 24.5% quarter-on-quarter, totaling 476 million yuan, with a year-on-year increase of 96.8% [1][2] - The innovative business revenue growth was primarily driven by game membership and voice business contributions [1] - The proportion of innovative business, advertising, and other revenues in total revenue increased to 45.2%, up from 23.4% year-on-year [2] User Engagement and Monetization - The platform's mobile MAU reached 36.4 million, with 2.8 million paying users and an average ARPPU of 255 yuan [2] - The voice business maintained stable operations, with revenue growing by 70.8% year-on-year to 296 million yuan, and average monthly active users of 463,000 [2] - Douyu's user operation strategy focuses on high-value user segments, enhancing user payment willingness through exclusive esports content and innovative interactive features [2] Cost Management and Profitability - Cost control and efficiency improvements were key drivers for profit release, with gross profit of 142 million yuan and a gross margin of 13.5%, both showing significant year-on-year growth [2] - Douyu's financial vice president noted that the company continues to enhance revenue diversification through its game membership and voice social business [3] - The company has implemented strict governance measures against illegal activities, permanently banning 1,146 live rooms and 769 accounts [3]