YY Inc. (NASDAQ:YY) Q2 2019 Earnings Conference Call - Final Transcript
Aug 13, 2019 • 09:00 pm ET
David Xueling Li
development of synergies across our business units.
As a result, in the second quarter, our total revenues increased by 66.8% year-over-year to RMB6.3 billion, exceeding the high end of our previous guidance range. Revenue from our live streaming business grew by 66.4% year-over-year to RMB5.92 billion, of which RMB906 million came from overseas market.
Next I will introduce the latest update for our key areas of business: IMO, short-form video and live streaming. IMO's goal is to become the instant messaging platform catered for young generation. As we embed a variety of content offerings into IMO, we continue to enhance IMO's product stickiness. Meanwhile, the content offerings can also increase user engagement, which in turn, drives the scale and quantity and quality of our UGC production.
In the second quarter, we started to gradually embed short-form videos from Likee into IMO. As a pilot program, for example, we made Likee short-form video content services available to more than 17.5 million MAUs in over 40 countries and regions across South Asia, Central Asia and Europe on the IMO platform. We were very pleased to see that over 50% of IMO's users were converted into short-form video users.
Going forward, in addition to the short-form videos already embedded into IMO, we also plan to introduce moments, group chats, official accounts, mini games, live streaming and other categories of content and services within IMO to bolster social interactions among users.
Furthermore, on the monetization front, IMO's advertising business has already shown a very encouraging trend. And the content feeds within IMO will provide much bigger monetization potential for the advertising in the future.
In the second quarter, Likee continued strong momentum for its users across the world. In Indonesia, for example, Likee's MAUs grew by 114% sequentially in June 2019, while constantly ranked at the top of Google Play's free apps list in Indonesia during the same month. Likee has continuously expanded the content offerings in the form of high-quality user-generated short-form videos. In May 2019, Likee introduced a WeMedia support program to attract more content creators to cultivate an increasingly diverse, engaging and entertaining content library.
In the second quarter, Likee's daily active video uploaders remained above 10% of its total DAUs, outperforming the majority of other short-form video apps and platforms in the world.
Moreover, in June 2019, Likee co-organized an awards ceremony for key inferences in digital world with local music radio stations, celebrity agencies and digital medias in India. A large number of local artists, idols as well as key opinion leaders in fashion, beauty, travel, food and body building participated in the event. This event increased Likee's influence among young generation and contributed to the rapid expansion of Likee's user base in India.
In addition to supercharging our growth engine through instant messaging and short-form videos, we continued to fortify our global leadership in live streaming through BIGO Live. To ensure operation efficiency and culture sensitivity in different