China’s live video streaming market was estimated to be RMB 20.8 billion (around US$ 3 billion), an 180% growth from the previous year, according to the latest report by internet market research firm iResearch (report in Chinese). At an event in January, Chen Zhou, CEO of YY, told the audience that their net profit for 2016 was RMB 1.5 billion (in Chinese).

The vast majority of the live streaming revenues was still from sales of virtual items, virtual gifts received by broadcasters and other items for premium features, with the rest from online games, advertising, and other related offerings.

The related four public companies, YY, Tian Ge Interactive, Song Cheng (the parent company of 6.cn) and Momo recorded a combined more than RMB 11 billion in live video streaming revenue.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com