Streaming Content Pays Dividends For China’s Letv

Chinese Internet video website Letv.com announced that during the first quarter of 2016 it achieved operating revenue of CNY4.63 billion, a year-on-year increase of 117.23%, and its profit was about CNY115 million, a year-on-year increase of 47.6%.

According to the financial report published by Letv, the company's net profit attributable to shareholders of its listed company was CNY114.739 million, a year-on-year increase of 20.29%. Meanwhile, its net profit excluding non-recurring gains and losses was CNY114.781 million, a year-on-year increase of 47.62%.

The company did not reveal its detailed business statistics in the financial report, but said that its overall advertising business revenue achieved over a 60% increase year-on-year during the first quarter of 2016; its terminal business revenue achieved a year-on-year increase of over 120%; and its membership and distribution businesses achieved a year-on-year increase of over 150%.

Letv said that during the reporting period, its website daily average user visits was about 97 million and could reach over 230 million at peak time; and its daily average video views was about 410 million and could reach over 610 million at peak time. At present, Letv has 680 content delivery network nodes and 20Tbps reserved bandwidth worldwide.