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Sohu.com Limited (NASDAQ: SOHU) is one of China's premier online brands, indispensable to the daily lives of millions of Chinese people. Founded by Dr. Charles Zhang in the 1990s, Sohu operates a network of comprehensive Chinese language web properties and proprietary search engines. The company is divided into two main segments: Sohu Media and Changyou.
Sohu Media offers a range of online services, including news, video streaming, and community-based products. Their flagship platforms include the Sohu News App, mobile news portal m.sohu.com, PC portal www.sohu.com, and the online video website tv.sohu.com. Sohu Media focuses on enhancing user experience through continuous product refinements and advanced live broadcasting technology. This segment generates revenue primarily through online brand advertising services.
Changyou, a subsidiary of Sohu, specializes in online games for PCs and mobile devices. It develops and operates a diverse portfolio of games, such as massively multiplayer online role-playing games (MMORPGs), casual games, and strategy games. Notable titles include Tian Long Ba Bu (TLBB) and Legacy TLBB Mobile. Changyou also manages the 17173.com website, which provides news, forums, and video content for game players. The segment accounts for the majority of Sohu's revenues, driven by online game distribution services.
In recent financial reports, Sohu has demonstrated stability and strategic growth. The company reported total revenues of $152 million for the second quarter of 2023, with a gross margin of 76%. Although the brand advertising revenues were $24 million, this was offset by a decrease in online game revenues to $118 million due to the natural decline of older games. Operating expenses were closely managed, and the company maintains a strong liquidity position with $1.4 billion in cash and equivalents as of June 30, 2023.
Sohu continues to explore new monetization opportunities by leveraging its premium content and unique competitive advantages. With an ongoing commitment to innovation and user engagement, Sohu aims to remain a leader in China's online media and gaming sectors.
Sohu.com Limited (NASDAQ: SOHU) has filed its Annual Report on Form 20-F with the Securities and Exchange Commission for the fiscal year ended December 31, 2022. This report is accessible on Sohu's investor relations website. Shareholders can request a free hard copy of the report, which contains the audited consolidated financial statements. Sohu is a key player in China's online media, video, and gaming sectors, offering a range of services through its various platforms, including Sohu News App and Changyou, its online gaming subsidiary.
The global digital advertising market is projected to grow from $563.4 billion in 2021 to $1.3 trillion by 2027, reflecting a remarkable CAGR of 14.7%.
This growth is attributed to increased smartphone penetration, a rise in internet users, and the transition from print to digital media.
Mobile devices dominated the market with a 79.4% share in 2021. Social media ads are the fastest-growing format, expected to grow at a CAGR of 17.8%.
North America led the market share at 39.6% in 2021, while the Asia-Pacific region is anticipated to achieve the highest growth rate, projected to reach $372.7 billion by 2027.
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