On November 20th, Douyu released its unaudited financial report for the third quarter of 2024. This quarter, Douyu relies on its rich game content ecosystem, fully leverages anchor resources and new business potential, and continues to provide high-quality live content and game services to users, further promoting platform revenue diversification.
In the third quarter, the quarterly average MAU of Douyu Mobile was 42.1 million, and the quarterly average number of paying users was 3.4 million. The total revenue was 1.063 billion yuan, achieving month on month growth for the first time in 8 quarters. The live streaming revenue was 752 million yuan, with a gross profit of 60.8 million yuan, a gross profit margin of 5.7%, and a net profit of 3.4 million yuan. Among them, innovative business, advertising, and other revenue achieved steady growth, reaching 311 million yuan, a significant increase of 49.4%, and accounting for 29.3% of revenue contribution, a significant increase from 15.3% in the same period of 2023.
The temporary management committee of Douyu stated that in the third quarter of 2024, we will actively adjust our company's operational strategy to flexibly respond to changes in the external environment, firmly implement the long-term development strategy of 'diversified content ecosystem platform with games as the core', focus on the company's core advantages to strengthen commercialization capabilities, optimize operational methods to improve business production ratio, coordinate platform resources to enhance operational efficiency. At the same time, we will continue to invest in anchor resources and new businesses, continuously provide users with high-quality content and rich game related services through content creation and product upgrades. In the face of changes in the macro environment and industry fluctuations, our primary goal is to solidify the foundation of our business, balance the development of traditional and new businesses, allocate resources in an orderly manner to optimize the platform ecosystem, and achieve long-term sustainable development of the company
In terms of platform regulation, Douyu continued its "four in one" compliance system (business compliance, content compliance, process compliance, and data compliance) this quarter, continued to improve its platform compliance system, and strengthened its self inspection and standardized management in compliance. At the same time, the platform continues to carry out ecological governance and regularly carries out "clean-up actions" to crack down on illegal and irregular content such as online fraud, online gambling, private transactions, vulgar pornography, illegal external links, and illegal audio and video.
Looking back at the third quarter, Douyu actively responded to the challenges faced by the company. On the one hand, it steadily promoted the strategy of revenue diversification, improved the revenue structure, and on the other hand, reduced costs by adjusting operational strategies and optimizing resource allocation. On the basis of maintaining the strategic direction of a diversified content ecosystem platform centered on games, balance the development of traditional and new businesses, coordinate and match company resources, stabilize the basic business base, and continue to invest in new businesses with growth potential. We believe that these measures can lay a solid foundation for the company's long-term sustainable development, thereby creating long-term value for shareholders.