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Thursday, December 26, 2019 2:30:25 PM
Live streaming is a new and lucrative industry in China, with industry revenue expected to grow to 16.5 billion USD in 2022 from 5.5 billion in 2017. The industry has been experiencing fierce competition and consolidation. While some float on the top and become wall street darlings some just drop to the bottom.
One of fallen star this year is Panda TV: https://www.scmp.com/tech/gear/article/2189218/chinas-game-streaming-site-panda-tv-confirms-it-will-end-service-amid-cash.
Panda TV raised one billion yuan (US$149 million) in its last financing round in May 2017, led by Shanghai-listed Industrial Securities.
Zhang said that high bandwidth costs and rising salaries for streamers were major reasons behind the cash shortage – which mounted despite the platform grossing tens of millions of yuan every day.
This case tells us two things: The industry burns money like crazy, don't even think about going into the industry if you don't have a lots of cash on hand; if you can cost bandwidth and salary costs effectively, you might be able to win the game and become a winner or a front-runner in the industry.
At this moment we don't know if LiveChain or LiveChain Holding has hundreds of million dollars, or if they are able to attract that much investment, but we do know that they have technologies to significantly reduce the bandwidth cost to 1/400 or lower as they claim.
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