Video Site Ku6 Finally Finds its Way of Video Sharing

Since being acquired by Shanda in 2009, Ku6 had gone through a long and bumpy ride. At first it lost its focus and branched out too much, and then left the founder Li Shanyou. Earlier last year, the new CEO Shi Yu took over the site and had it revamped. According to a recent interview of Shi, the company finally comes up with a clear and determined goal, that Ku6 is a UGC powered video sharing community.

It’s earnings report of 12Q1 showed a revenue of $ 4.68 million, up 5.9% quarter-on-quarter. And the loss was $1.79million, down 54.6% qoq or 83.5% yoy, which is the lowest since its IPO in 2010.

Shi said in an interview that with the transformation into a UGC-centric model, Ku6 has stopped buying costly quality contents and a large chunk of its expenditure now only goes to personnel and bandwidth. One reason why loss is narrowed. “At first we did lose some users when transition begins, but later the number gradually grew back.” The latest data by Ku6 revealed the site got 280 million unique visitors per month and 200,000 daily uploaded videos.

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