On May 20, DouYu (DOYU.US) released its Q1 2025 financial report. In this quarter, DouYu's total revenue was 947 million yuan, with innovative business, advertising, and other income at 383 million yuan, a year-on-year increase of 60.2%; gross profit was 114 million yuan, achieving double growth, with a year-on-year increase of 4.1% and a quarter-on-quarter increase of 62.6%; gross margin reached 12%, a year-on-year increase of 1.5% and a quarter-on-quarter increase of 5.9%; operating loss was 26.1 million yuan, a significant year-on-year decrease of 84.3%; adjusted net loss was 20.9 million yuan, a year-on-year narrowing of 75.6%. In this quarter, DouYu's average mobile MAU for Q1 was 41.4 million, with an average paying user count of 2.9 million and ARPPU of 216 yuan. In the new year, the results of DouYu's ongoing strategic transformation are beginning to show, with continued deepening of business structure adjustments, and performance starting to exhibit a positive trend in the new market environment.
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DouYu's co-CEO Ren Simin stated: &#34;In Q1 2025, we focused on enhancing revenue diversification capabilities and improving cost efficiency. This quarter, the company's gross margin improved year-on-year, and operating losses significantly narrowed year-on-year. By increasing commercial cooperation with game manufacturers and optimizing the operation and promotion of voice services, the company's innovative business continues to maintain good growth momentum. At the same time, we are gradually initiating the optimization process of the cost structure of traditional businesses, dynamically allocating anchor resources, and balancing content supply. During this process, platform traffic and revenue scale will be affected by content adjustments, and we believe these measures are necessary to enhance the company's operational efficiency, which will be beneficial for the company's healthy and sustainable development in the long run.&#34;
<h2>Gross profit achieves double growth year-on-year and quarter-on-quarter, initial results of business structure adjustment evident</h2>
In Q1 2025, with the continuous adjustment of the platform's traditional business structure, DouYu's diversified business system drove financial data to improve. This quarter, gross profit was 114 million yuan, with a gross margin of 12%, achieving double growth year-on-year and quarter-on-quarter, with a year-on-year increase of 4.1% and a quarter-on-quarter increase of 62.6%. Adjusted net loss also saw a significant narrowing, down 75.6% year-on-year to 20.9 million yuan.
In this quarter, DouYu continuously updated marketing activities by collaborating with mainstream game manufacturers, providing DouYu's unique prop sales services, and offering core game users an immersive gaming consumption experience, enhancing users' willingness to purchase. During the Spring Festival, DouYu launched a special event for League of Legends with Snake Year limited benefits, covering live streaming content such as anchor Nan Bo'er’s special sales and the 4V4 fun competition of Teamfight Tactics, fully utilizing DouYu's anchor and event resources to optimize the cooperation model with manufacturers.
In January, DouYu continued to partner with &#34;Peace Elite&#34; to launch the Peace Store and initiated a voting activity for props in the preliminary selection, allowing players to vote in-game and in DouYu's live broadcast room, ultimately deciding the types of props to be listed in the store. By deeply binding with the game, the Peace Store transformed the sale of game props into player interaction, better meeting players' consumption needs while enhancing the sense of participation in the activities
In addition, DouYu has further utilized the platform's PGC programs to explore merchandise sales. &#34;DouYu Peace Elite Adventure Journey&#34; invited cross-region streamers to Changbai Mountain for &#34;outdoor entertainment + game live streaming,&#34; with the newly added viewing UV in the region reaching twice that of non-event days.
It is worth mentioning that besides game merchandise sales, in the first quarter of 2025, DouYu's independent voice social service has made smooth progress in commercialization. The voice social service launched a series of marketing activities combined with the Spring Festival, along with an efficient traffic distribution mechanism, effectively enhancing user engagement and payment conversion. This business achieved a revenue of 290 million yuan this quarter, with an average monthly active user count of 498,400 and an average monthly paying user count of 82,900.
The impressive performance of the voice social service has driven the overall revenue from innovative businesses, advertising, and other sources to 383 million yuan, a year-on-year increase of 60.2%, with its share of total quarterly revenue continuing to grow to 40.4%. The steady development of innovative businesses has provided the platform with new momentum for diversified revenue growth.
<h2>Deepening Platform Advantages, Creating a Matrix of Professional and Entertaining Esports Content</h2>
In this quarter, DouYu broadcast nearly 40 official large-scale event activities, including the Honor of Kings KPL Spring Tournament, CrossFire CFPL Spring Tournament, Valorant Bangkok Masters, CS2 Blast Spring Tournament, and Lisbon Open; over 20 self-produced esports events, and launched 10 entertainment programs, focusing on Dota2 streamer-named and brand cooperation events, League of Legends Time Cup S2, as well as the Peace Elite PGC program launched in conjunction with game membership activities and official event naming.
Among them, the League of Legends Time Cup S2 event invited top technical streamers and popular veteran players from across the internet, combining competitiveness with entertainment through innovative competition formats and rich interactive content. The event also introduced special competition formats such as &#34;Grab Card,&#34; &#34;Coach is Warming Up,&#34; and &#34;Time Cup Trading Week,&#34; further enriching the viewing experience. During the Time Cup, the viewing growth increased by 134%, and the daily average event return achieved a significant increase of 255%. As a popular core region for DouYu, the League of Legends section continues to iterate and update event content, deeply integrating the platform's strong streamer resources, thus significantly enhancing the vitality of the section.
Focusing on self-produced content, DouYu also presented a series of cross-platform events, maximizing content advantages through industry resource linkage and effectively improving cost efficiency, such as the Idea Cup for &#34;League of Legends Mobile&#34; and the &#34;Rebirth of Me in the Canyon&#34; Cup for &#34;Honor of Kings.&#34; Among them, the Delta Action Bounty Cup pioneered the Delta Bounty competition mode, with the prize money gradually increasing as the tournament progresses. The event gathered 24 top teams, expanding and enriching the platform's shooting game event content matrix, continuously refreshing the viewing experience that aligns with core game user preferences.
<h2>Integrating Resources Across All Sections, Empowering Community Ecosystem Optimization with Multiple Measures</h2>
In the first quarter of 2025, DouYu actively promoted the deep integration of platform resources, comprehensively coordinating resources across all sections of the site, fully leveraging its professional capabilities in streamer resource reserves and content production, and carefully planning and launching a series of high-quality PGC programs. For example, &#34;DouYu Peace Elite Adventure Journey&#34; brought together many popular streamers and professional players, creating a live streaming carnival under the snowy scenery of Changbai Mountain during the New Year period
In addition, the platform has created exciting content such as the Gemini New Year Song Friends Meeting and the Golden Snake Dance Entertainment Spring Festival Gala, enriching the platform's PGC content ecosystem.
DouYu also launched various platform activities this quarter involving cross-region streamers, centered around fun mini-game competitions in the &#34;Iron Fish Seven Events - New Year Carnival Week.&#34; Fifteen streamers from the Honor of Kings, League of Legends, and Entertainment Aesthetic sections joyfully competed in games like Go and QQ Speed; in collaboration with game manufacturers, they launched the &#34;New Year Garden Party&#34; event covering 14 regions during the Spring Festival, with streamers Gemini, Xleft Xiaodingdang, White Shark AyoM, Ruo Ruo Runs Fast, and Nan Bo Er Da Mo Wang accompanying viewers to celebrate the New Year, greatly enriching users' live content choices during the Spring Festival and providing a new audio-visual experience.
While providing high-quality and exciting content, DouYu has further optimized its community ecosystem through self-reflection and self-inspection on the platform. This quarter, DouYu released the &#34;2024 Ecological Governance Report,&#34; systematically reviewing the platform's ecological governance work over the past year and summarizing effective experiences unique to the platform for future optimization and advancement. DouYu continues to implement platform governance work around combating private transactions, handling infringement complaints, fighting vulgar and pornographic content, combating online fraud, addressing gambling-related behaviors, and issuing reminders for fraudulent graphic content, with a total of 13 public handling announcements released, promptly informing the public of governance results and demonstrating the platform's determination to maintain a clear online space.
In the face of increasingly complex industry challenges, DouYu is steadfast in its strategic direction for sustainable and healthy growth. On one hand, it continues to enrich diverse content, stabilize traditional business, and increase investment in innovative businesses to further achieve revenue diversification; on the other hand, it deeply optimizes its operational system, enhances cost efficiency, and achieves efficient resource allocation. In the future, DouYu will continue to balance financial stability with business innovation, creating stable and potential long-term value for shareholders

DOYU

DouYu released its Q1 2025 financial report, with total revenue of 947 million yuan and gross profit of 114 million yuan, achieving both year-on-year and quarter-on-quarter growth. Innovative business, advertising, and other revenue reached 383 million yuan, a year-on-year increase of 60.2%. The gross profit margin reached 12%, an increase of 1.5% year-on-year. Operating loss was 26.1 million yuan, a year-on-year decrease of 84.3%. Adjusted net loss narrowed to 20.9 million yuan, a year-on-year reduction of 75.6%. The company's strategic transformation is showing initial results, with revenue diversification and improved cost efficiency

DouYu released its Q1 2025 financial report: total revenue of 947 million yuan, with both year-on-year and quarter-on-quarter growth in gross profit