Chinese online content platforms including Tencent Music and NetEase's Cloud Music have removed live streaming features that analysts say could be used for illegal gambling, at a hefty cost to their quarterly revenues.
have removed live streaming features that analysts say could be used for illegal gambling, at a hefty cost to their quarterly revenues.
These features have increased the popularity of live streaming, a market which was worth around 152 billion yuan in 2022, research firm Analysys said.to "pre-emptively disable live streaming features that contain games of chance", said Ivan Su, an analyst at Morningstar, cutting off a lucractive source of revenue.
None of these companies mentioned the gambling crackdown when they reported their earnings, and they did not respond to request for further comment. "We expect the anti-gambling crackdown... to eliminate 20% to 70% of live streaming revenue, depending on each platform's exposure," Charlie Chai, an analyst at 86Research, said.
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