cool hit counter Revenue grows, losses narrow as Aiki's first post-IPO earnings report shines_Intefrankly

Revenue grows, losses narrow as Aiki's first post-IPO earnings report shines

Relying on a combination of quality content and technology, Akiyama did not disappoint after logging on to the capital market.

Today (April 27 BST, April 26 EST) the company released the company's unaudited financial results for the first quarter ended March 31, 2018.

The earnings report showed that Aiki's total revenue for the first quarter was RMB 4.9 billion, up 57% year-on-year. Net loss attributable to Aiki was RMB395.7 million, narrowing significantly from a loss of RMB1.1 billion in the same period last year.

Gong Yu, Founder and Chief Executive Officer of Akiyip, said:- "We are pleased to report more solid results in the first quarter of 2018. Our two pillars of business - Ad Services and Membership Services - both rose sharply, driven by premium content, particularly driven by a series of successful home-grown variety shows launched during the quarter. Our recent Initial Public Offering (IPO) has given us hope for the future as Aiki's brand awareness continues to grow, as well as the number of global partners and artists and the number of artists seeking to work with us. Looking ahead, we will continue to strategically allocate resources and bandwidth to original content production and technology innovation as we aspire to become a technology-based entertainment giant. "

If you paraphrase Gong Yu's comments, Aiki's revenue increase is largely driven by premium content.

The pop-ups keep coming on the Aiki platform: in variety, last year's China's Hip Hop and this year's Idol Trainee have become phenomenal shows. Take "Idol Trainee" for example, up to now the total broadcast volume is as high as 3 billion times, with a single broadcast volume of 250 million; as of April 16, "Idol Trainee" eponymous microblog topic reading volume broke 14 billion, related microblog topics coiled microblog hot search list up to 652 times.

In the drama level, last year's web drama "River God" harvested 8.4 Douban scores and exceeded 1.7 billion hits, and the original author of the world's bacchanal exclaimed on the spot that the adaptation was "very satisfactory and exceeded expectations".

These figures have made advertisers swoon on the one hand, and attracted paid members on the other, making Akiyoshi a very rewarding company.

According to its first-quarter earnings report, online advertising services revenue was 2.1 billion yuan ($336.5 million), up 52 percent from the same period in 2017, while membership services revenue was 2.1 billion yuan ($333 million), up 67 percent from the same period in 2017.

It's worth noting that Aiki has been increasing its R&D expenses, which is in line with its AI strategy. Its R&D spending in the first quarter was 387.3 million yuan ($61.7 million), up 44 percent from the same period in 2017.

Last year, Gong Yu raised artificial intelligence to the height of Aiki's strategic level. He has a renewed goal for Aiki: a great entertainment company driven by technology and innovation. "This greatness is because there is technological innovation to drive it, and the biggest difference in our other entertainment companies is that there is technological innovation." Gong Yu said.

Junwen Woo, a senior analyst in online video at IHS Markit, was quoted in the Wall Street Journal as noting that Aiki's greatest potential lies in its use of artificial intelligence, which helps differentiate it from other competitors "by knowing what content is most popular, what users like most, and where it's going next."

Against the backdrop of an overall market that is expected to grow to 688 billion yuan ($109 billion) by 2022, Akiyip, the most time-consuming and most-visited video streaming service provider in China, combined with artificial intelligence offers attractive prospects.

This forward-looking strategic vision of technology seems to be gaining recognition from US investors. Lovecraft jumped 4.11% on April 26th US time.

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