Lichi founder and CEO Lai Yilong said in the conference call that the company will continue to increase the vitality of the user-originated content community, including the introduction of new product features, such as voice blogs, and the optimization of operational tools to provide incentives for content creators To inspire the creation and distribution of rich long tail content.
On March 12th, Eastern Time, Litchi (NASDAQ: LIZI), the UGC audio community in China, announced the fourth quarter and full-year financial report for 2019. This is the first performance release of Litchi since its listing. The financial report shows that all financial operating data of Litchi have continued to grow steadily. In the fourth quarter of 2019, total revenue reached 365 million yuan, an increase of 52.2% year-on-year; in 2019, annual revenue was close to 1.2 billion yuan, an increase of nearly 50% year-on-year.
In terms of operating data, the number of monthly active users of the platform of Litchi in the fourth quarter of 2019 exceeded 50 million, reaching 51.9 million, an increase of about 34% over the same period in 2018; the number of monthly active content creators reached 5.9 million, The number of monthly active users exceeds 11%; the average daily usage time of users in the fourth quarter of 2019 was 53 minutes, a year-on-year increase of 7 minutes; the average number of monthly interactions reached 2.7 billion, an increase of approximately 16% year-on-year.
At the same time, with the maturity and diversification of the litchi monetization model, the number of paying users has further increased. In the fourth quarter of 2019, the average monthly paid users of the platform increased by 71% year-on-year to 434,000. Among them, while litchi maintained a steady and high growth of 51% year-on-year in the audio entertainment sector, its podcast, advertising and other business segments saw revenue growth of up to 108%. It is expected that with the coming of the LoT audio full-scenario era, online audio user usage scenarios will be fully expanded from the two dimensions of time and space, and the future commercialization model will become more diverse and stable.
Lai Yilong, founder and CEO of Litchi, stated in the conference call that the company will continue to improve the vitality of the user-originated content community, including the introduction of new product features, such as voice blogs, as well as optimizing operational tools. Content creators offer incentive programs to inspire the creation and distribution of rich long tail content. The company is confident that through continuous efforts to strengthen the connection between anchors and users, promote our business to achieve faster growth and obtain more opportunities for monetization.
It is worth noting that Litchi communicated about the new crown epidemic during the performance report conference call. Among them, donated 1 million yuan to the Sun Yat-Sen University Medical Support Special Fund; in the name of litchi platform, anchor and listeners, donated 500,000 yuan to the Zhongnanshan Medical Foundation of Guangdong Province. In addition, the Litchi APP has launched a special topic “Fighting the Epidemic, Let’s Be Together” and launched online activities such as the “Spring Festival Companionship Plan” and “Our Voice” to mobilize users to pay attention to the epidemic situation, support the epidemic, and fully show the strong companionship of the voice SexThe sense of resonance also stimulated the increase in the platform’s user and anchor activity, as well as the growth of key data such as the number of live broadcasts, recordings, and online hours of users.
Public information shows that litchi, founded in 2013, is a strong supporter of the UGC (user-generated content) model. Both are unique features of litchi and are regarded as audio versions of Instagram and YouTube.