Chinese language recreation reside streaming platform Chushou has shut down, the newest casualty within the nation’s Tencent-dominated recreation reside streaming market. Stay streaming platform Panda TV folded final 12 months.
Chushou obtained a roughly $77M USD funding from Google in early 2018 and raised a disclosed complete of roughly $128M in funding because the platform was established in 2011. Different traders in Chushou included Qiming Enterprise Companions, GGV Capital, Shunwei Capital, AlphaX Companions, and Baidu’s iQiyi.
Tencent controls the 2 largest recreation reside streaming platforms in China, Huya and DouYu. Moreover, it operates its self-developed Penguin Esports platform and owns minority stakes in reside streaming platforms Bilibili and Kuaishou. Based on Bloomberg Information, Chushou requested streamers who stream solely on the platform to change to Kuaishou.
In an interview with Surging Information in 2019, Li Qiang COO and co-founder of Chushou revealed that the corporate was near breaking even whereas paying tens of tens of millions of yuan a 12 months for esports occasions media rights. In the identical 12 months, the corporate introduced that it anticipated round ¥600M RMB ($85.5M) in revenues for the 12 months, and its CMO Yang Shuyu talked about Chushou’s willingness to go public in China.
Since then, a number of Chushou streamers complained about not receiving income share funds and at the very least one influencer company sued Chushou for breach of contract earlier than the service ceased operations on July 3. An nameless supply informed the China-Singapore Jingwei that the platform presently owes a number of esports organizations as much as ¥5M ($713Okay) and hundreds of content material creators as much as ¥200Okay ($28.5K).
Whereas Tencent is solidifying its market dominance in China, the corporate launched a brand new reside streaming platform within the West. The service named Trovo carefully resembles Amazon-owned reside streaming platform Twitch in its look and performance. Tencent-owned Huya pursued an analogous technique with the launch of Nimo TV in international locations reminiscent of Brazil, Indonesia, Vietnam, Thailand, and Mexico in 2018.
Exterior of China, Mixer is the newest service to give up to its reside streaming platform competitors, primarily Twitch, as it’s going to stop enterprise on July 22. The Microsoft-owned platform solely signed two beforehand high-profile Twitch influencers Tyler “Ninja” Blevins and Michael “shroud” Grzesiek.