Huya Advances Global Business to Continually Enrich Its Ecosystem

Rhea-AI Summary

Nimo TV, operated by HUYA, successfully hosted its inaugural Global Gala in Ho Chi Minh City, Vietnam on April 8, 2023, recognizing content creators and partners. The event showcased over 30 awards, including 'Top Streamer of the Year 2022' and 'Most Popular Idol of the Year'. CEO Dong Rongjie announced plans for steady global expansion, targeting the MENA and Southeast Asia markets, particularly in Vietnam, Indonesia, and entering Thailand in April. The platform aims to enhance user engagement and monetization through localized content and partnerships. Recent adjustments have led to improvements in content planning and commercialization. A research report predicts that the global live streaming audience will exceed 1 billion by 2023, suggesting strong growth potential for Nimo TV.

Positive

• Successful inaugural Global Gala recognizing top creators and agencies.
• Plans for global expansion into MENA and Southeast Asia markets, enhancing growth potential.
• Improvements in content planning and commercialization following strategic adjustments.
• Strong market demand for live streaming services, supported by increasing internet and smartphone usage.

Negative

• None.

Nimo TV Successfully Held Its First Global Gala in Vietnam, Acknowledging Content Creators and Partners

HO CHI MINH CITY, Vietnam, April 10, 2023 /PRNewswire/ -- Nimo TV, a leading global live streaming platform operated by HUYA Inc. ("Huya"), has successfully concluded its first Nimo TV Global Gala in Ho Chi Minh City of Vietnam on April 8, 2023, in an aim to acknowledge and honor the platform's content creators, talent agencies and partners from across the globe, and bring an impressive audio-visual feast to global users. In the night of reunion, Dong Rongjie, Huya Chief Executive Officer, and Li Meng, Huya Senior Vice President and Nimo TV CEO, delivered speeches at the global gala, offering insights on the business movements of Huya and the business strategy of Nimo TV.

Centered on the theme of "NIMOVERSE", the Nimo TV Global Gala provides a precious opportunity for the platform to express gratitude to all the broadcasters, agencies and partners for their continued faith, for making the Nimo TV community stronger, and for their tremendous contributions to Nimo TV's increasingly enriched content. At the gala, Nimo TV presented more than 30 awards, including "Top Streamer of the Year 2022", " Most Popular Idol of the Year", "Idol of the Year", "Most Popular New Idol of the Year", "Streamer of the Year", "Most Popular New Streamer of the Year", and "Top Agency of the Year 2022", among others, to honor its outstanding broadcasters and talent agencies.

Steadily advancing global business with a focus on MENA and Southeast Asia markets

Dong Rongjie, CEO of Huya, stated during the Nimo TV Global Gala that Huya will steadily move forward its global expansion, with a focus on the MENA and Southeast Asia markets for its global live streaming platform Nimo TV. Regarding the Southeast Asia market, in addition to grow Nimo TV in Vietnam and Indonesia, the platform will also enter Thailand's pan-entertainment industry in April through a combination of online and offline activities, to explore more live streaming-empowered possibilities, including offline entertainment.

According to Nimo TV CEO, Li Meng, following a series of adjustments, Nimo TV is on a right track and achieved some good results. The platform has made encouraging improvements in content planning, budget control and commercialization, moving toward a fast and healthy stage of development.

Speeches from Huya's two executives have released positive signals, indicating that Huya has entered a key stage in its international development with the hope to forge its international business into Huya's another growth curve. A report* by research firm Newzoo shows that global games live streaming audience "will cross the billion mark by 2023 and increase with a compound annual growth rate of 16.3% from 2020 to reach 1.4 billion in 2025". It also suggests that as mobile game titles are gaining popularity on live streaming platforms, a number of growth markets, including Southeast Asia and the MENA, "will retain high growth rates throughout 2025".

Furthermore, the increasing number of internet users and growing smartphone penetration in the MENA region and Southeast Asia has driven up the demand for live streaming services, thus creating good opportunities for live streaming platforms such as Huya. The company aims to further enlarge Nimo TV's user base, enhance user stickiness and improve monetization ability by leveraging localized operating teams, exploring local user preferences, and launching more customized live streaming content for local audiences.

"With a more open attitude, we plan to strengthen cooperation with talent agencies, empower broadcasters, and create a full lifecycle of broadcaster development path, so as to achieve commercialization for both the broadcasters and Nimo TV. At the same time, we will strengthen collaboration with game studios and brand partners, including promoting more interactive features in game joint operations. On business development in different regions, we will deepen localization efforts and provide more content tailored to the needs of local users," said Nimo TV CEO Li Meng.

Optimizing the ecosystem of gaming and pan-entertainment content to continually enrich platform offerings

In the past two years, live streaming platforms have been facing market competitions and increasingly diverse users' needs. It is now rather important for live streaming platforms to consider how to meet their diverse needs while enriching content and experiences.

Huya has striven to make breakthroughs and stepped up the expansion of its content portfolios in the past year. In addition to developing in the international market to seek commercialization opportunities, Huya has also made solid progress in technology advancement, licensed tournament broadcasting, self-produced programs, video content, and community operations.

As Huya recently disclosed, in the fourth quarter of 2022, the company broadcasted more than 70 licensed party professional e-sports tournaments, such as League of Legends Worlds 2022, Honor of Kings International Championship, Demacia Cup and CFS Grand Finals. It also broadcasted over 45 Huya-organized e-sports tournaments and entertainment PGC shows over the same quarter, including PeaceKeeper Elite All Star Annual Invitational, Thunder series of Honor of Kings, and the Huya platform qualifier for the Demacia Cup, gaining user great traction.

In the optimization of content ecosystem, Huya has expedited its video business, with the total viewing time for on-demand videos on Huya Live mobile app and the total number of video uploads on Huya Live both recorded double-digit growth year-on-year in the fourth quarter of 2022. Huya has also embedded videos in its game community and introduced an immersive vertical-video viewing format to continually enhance users' video viewing experience and the social networking function, making it easier for the interactive activities between users and streamers. These measures are designed to further increase users' stickiness, retention rate, and consumption of video content.

Li Meng, Senior Vice President of Huya, noted that "in 2023, Huya will continue enriching the platform content and refine the content quality. We will also foster a positive community environment to provide users a one-stop entertainment platform. Moreover, we will keep strengthening product R&D capabilities and innovative technology applications, broadening the business ecosystem and exploring revenue diversification opportunities, in an aim to elevate the company's competitiveness from multiple dimensions, and solidify Huya's leading position in the domestic game live streaming market."

Source: To learn more about the Newzoo report mentioned above, please visit https://newzoo.com/resources/trend-reports/newzoo-global-esports-live-streaming-market-report-2022-free-version/

 

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SOURCE Nimo TV

FAQ

What happened at the Nimo TV Global Gala on April 8, 2023?

Nimo TV hosted its first Global Gala in Ho Chi Minh City, Vietnam, recognizing content creators and awarding over 30 titles.

What are HUYA's plans for international expansion?

HUYA aims to expand Nimo TV into MENA and Southeast Asia, particularly focusing on Vietnam, Indonesia, and Thailand.

What improvements has Nimo TV made recently?

Nimo TV has improved content planning and commercialization, positioning itself for better user engagement and monetization.

What is the expected growth of the live streaming audience according to the Newzoo report?

The global live streaming audience is projected to exceed 1 billion by 2023, with a compound annual growth rate of 16.3%.