The overseas business sector achieved outstanding results.
Today, Huanju (YY.US) released its 2020 fourth quarter and full year results report.
According to the financial report, in the fourth quarter of 2020, Huanju’s revenue was 3.783.5 billion yuan (RMB, the same below), an increase of 77.5% year-on-year; under Non-GAAP, the net loss from continuing operations was 149.4 million yuan. In the same period of the year, it lost 455.7 million yuan.
For the whole year of 2020, Huanju’s revenue was 13.230.9 billion yuan, a year-on-year increase of 112.1%; under Non-GAAP, the net loss from continuing operations was 1.142.3 billion yuan, compared with a loss of 1.963.2 billion yuan in the same period last year.
Live broadcast is the main source of revenue for Huanju. In the fourth quarter of last year, Huanju’s live broadcast revenue reached 3.5939 billion yuan, a year-on-year increase of 93.35%, accounting for nearly 95% of the total revenue.
In terms of products, Huanju’s main products include overseas live broadcast platforms Bigo Live, YY live broadcast, short video platform Likee, and casual game social media platform Hago.
Among them, the overseas business segment of Huanju (BIGO) performed well in the quarter. According to the financial report, the main reason for the narrowing of the group’s overall loss and the substantial increase in live broadcast revenue is the growth of BIGO.
In the fourth quarter of last year, Huanju BIGO’s revenue reached 3.39 billion yuan, an increase of 87.9% year-on-year, and it achieved operating profit for the second consecutive quarter under non-US accounting standards. For the whole year of 2020, BIGO’s revenue reached 11.95 billion yuan, an increase of 112.3% year-on-year, and the revenue scale officially exceeded YY live broadcast.
At the same time, other products are also growing steadily. In the fourth quarter of last year, Likee’s revenue increased by 407.5% year-on-year; Hago’s revenue increased by 69.4% year-on-year, and its loss was narrower than the previous three quarters, and it achieved first-month breakeven under non-US accounting standards for the first time.
In terms of user scale, in the fourth quarter of last year, Bigo Live’s mobile monthly active users reached 28.7 million. During the period, Bigo Live opened up the interactive gameplay of single rooms and multi-person rooms, further lowering the barriers to entry for ordinary users’ social interaction, and bringing about an increase in audience penetration. Among them, multi-person video penetration increased by 10.9% month-on-month, and multi-person voice penetration increased by 2.3%.
In the same period, Likee’s mobile monthly active users (excluding India) reached 110 million, a year-on-year increase of 119.0%. Hago’s user penetration rate reached 41.9%, an increase of 51% year-on-year.
In addition, Huanju announced in the financial report that the company’s chief financial officer Jin Bing will leave at the end of April this year. According to the Beijing News, the online education company Job Gang has hired Jin Bing as the company’s chief financial officer.