Chinese language video and stay streaming firm Bilibili introduced that the corporate has agreed to share the 2020 League of Legends World Championship (Worlds) Chinese language media rights with DouYu, Huya, and Penguin Esports. The three firms can even broadcast the 2020 Worlds on their respective stay streaming platforms.
Although monetary phrases of the media rights distribution deal weren’t disclosed, in December 2019 it was revealed that Bilibili paid ￥800M RMB ($115M USD) for the three-year Worlds media rights in China. Bilbili’s Overwatch crew Hangzhou Spark not directly confirmed that info when it reposted the information on social media Weibo.
Earlier this month Bilibili formally signed a three-year strategic partnership deal with Riot Video games for the unique Chinese language broadcasting rights for the Worlds, in addition to the Mid-Season Invitational (MSI), and All-Star occasion.
Chinese language conglomerate Tencent Holdings totally owns Penguin Esports, and owns massive shares in Bilibili, Douyu, and Huya. Tencent is the second-largest shareholder of Bilibili, proudly owning 13.4% of complete shares, and the largest shareholder of each DouYu and Huya.
The deal reinforces Tencent’s main place towards ByteDance’s Douyin (the Chinese language model of TikTok) within the stay streaming trade.
On Monday, Tencent despatched a preliminary non-binding merger proposal letter to the boards of administrators of Douyu and Huya, in search of a stock-for-stock merger between the 2 firms. In response to Douyu and Huya’s Q2 2020 monetary report, each firms have a mixed enterprise worth of $8.9 billion, and 333.8M month-to-month energetic customers (MCUs) distributed over each platforms. Douyu reported $45.1 million in earnings in Q2, whereas Huya reported $32.1 million in earnings.