Opening up China’s economy might mean big bucks for the country’s gaming industry, and even larger streams of online video. According to Chen, this means we can expect a 1% year over year growth in live streaming! Woo-hoo! I never thought I’d be this excited about 1%, but there we go. Short video platforms are set to lead the charge, which is great news for all those who suffer from a short attention span.
But hold your horses, Hello Group won’t be the only company set to benefit from a rise in live streaming. Oh no no, as short video platforms, Kuaishou/BILI, continue to gain time share from other platforms, JPMorgan surveillance senior officer Daniel Chen reckons we can expect them to achieve decent live streaming revenue growth. And let’s be real, who doesn’t enjoy decent live streaming revenue growth?
JPMorgan has a few other favourite picks in the Chinese live streaming space; Kuaishou, Bilibili, Tencent Music Entertainment, and Joyy all rank highly. In fact, Kuaishou was Chen’s top dog. Why, you ask? Well, the company is continuing to grow and should achieve exceptional profitability this year. Anyone want to chant “Kuaishou! Kuaishou! Kuaishou!” with me?
But wait, there’s more! We haven’t even got to the best part yet. Chen is positive about the strong growth outlook for Kuaishou’s various business segments (ads, eCommerce, live streaming) and expects it to achieve full-year profitability in 2023. 2023 may seem a bit far off, but I’ve got my Pom-poms ready for Kuaishou’s big day.
It seems like we may have found ourselves a Chinese live streaming dream team. And who doesn’t love a heartwarming story about teams coming together to achieve something great? I can almost picture their happy little faces as they work towards a profitable future.
So there we have it folks, Chen has spoken, and the Chinese live streaming industry is set for growth, with Kuaishou leading the pack. Let’s all raise a glass to these live streaming trailblazers and wish them all the best on their journey to stardom. Go get ’em, Tiger!
P.S. A special shoutout to you, Michael Bloom, for contributing to this report. You’re a legend, mate.
Serious News: cnbc
