DouYu International Holdings Ltd is a leading game-centric livestreaming platform in China. The company operates an integrated platform that combines livestreaming, video, voice, graphic content and interactive community features to serve users interested in gaming and related entertainment. Its primary focus is on delivering game-centric content through mobile apps and PC portals, enabling users to engage with streamers, participate in community discussions and access a wide range of gaming and non-gaming entertainment such as music, talent shows and outdoor activities.

The company generates revenue through a multi-channel monetization model. Livestreaming is the main revenue driver, primarily from the sale of virtual gifts purchased by users to support streamers. Innovative business, which includes voice-based social networking services and game-related services, contributes to revenue through virtual gift sales and subscription-based memberships. Advertising revenue comes from brand and game advertisements delivered via integrated promotions during livestreams, traditional display ads and event-related advertisements. A smaller portion of revenue is derived from game distribution through revenue-sharing agreements with game developers and publishers.

The company operates through the following segments:

• Livestreaming segment involves the operation of the core platform where users watch and interact with live game and entertainment content, primarily monetized through virtual gift sales.

• Innovative business segment includes voice-based social networking services and game-related services, monetized through virtual gifts, subscription memberships and virtual customization options.

• Advertisement segment generates revenue from brand and game advertisements placed on the platform through integrated promotions, traditional display and event-related advertising.

• Game distribution segment involves revenue-sharing arrangements with developers and publishers for distributing games to the platform’s user base.

The company holds a leading position in China’s game-centric livestreaming industry as one of the pioneering platforms with strong brand awareness and a large engaged user base. It competes with other livestreaming platforms, short-video platforms, social media platforms and broader online entertainment services. Its competitive advantages stem from its deep pool of streamers, proprietary content, big data analytics capabilities for personalized recommendations and strategic partnerships with game developers and publishers that provide access to premium game content.

The company serves a large and young user base in China, primarily consisting of gamers and game enthusiasts who engage with livestreaming, video, voice and community features on the platform. Users include both casual and dedicated gamers who participate in eSports, music, talent shows and outdoor activities content. The platform attracts users seeking interactive entertainment and socialization through real-time engagement with streamers and other viewers.