Affected by the news, the U.S. stock market fell by 26% as of the end of Wednesday, giving up all gains in the past five months.
(YY daily chart, source: tradingview)
For YY live broadcasting, the agency has studied nearly 150 million transactions. It is expected that nearly 90% of the revenue reported for YY live broadcasting business in the era of happy gathering is forged data. In addition, the vast majority of the paid users claimed by YY live broadcast also have the same problem. 80% of the revenue of digobive.
Hunshui said that on the live broadcasting platform, most of the props that reward the anchor himself or herself continuously circulates the rewards received before, and even some rewards come from YY server. Take the well-known anchor modern brothers on the platform as an example. Even when they are not live on the platform recently, there are a lot of rewards from YY server. The analysis of reward data from 96 random selection shows that about 97.9% of the sample gift income may be false.
In addition to the above two, Hunshui also gives several cases of revenue fraud and receiving server reward after the host is offline.
(source: muddy water study)
Muddy water further said that YY claimed in 2018 that the top five anchors of the platform attracted more than 1.1 billion yuan, but according to the revenue declaration records, these anchors reported a total revenue of about 156 million yuan, which further verified the hypothesis that YYs live broadcasting revenue is only 10% real.
Muddy water said that for the overseas version of bigolive, there are also the problems mentioned above, such as false operation data and revenue swiping.
Another concern is that Baidu just announced on Tuesday that it will pay $3.6 billion in cash to buy the domestic video entertainment service of happy gathering times. The delivery is expected to be completed in the first half of 2021. Affected by this, Baidus share price also closed down more than 1% from a 2% rise in the day.
Source of this article: Chen Hequn, editor in charge of CFA_ NB12679