YY Inc. (NASDAQ:YY) Q3 2019 Earnings Conference Call - Final Transcript
Nov 12, 2019 • 09:00 pm ET
David Xueling Li
such local events in Russia, demonstrates Likee's unique capability in establishing cultural connections among young users, inspiring their creativity and self-expression and boosting their enthusiasm towards original content production. All of which in turn help us expand our brand influence, as well as strengthen our leadership in more global markets.
In addition to content localization, Likee also started to attract and retain users through continuous introduction of new features and functions, including data visualization tools, collaborative travel vlog projects, AI based image cropping, photo series and face swapping features. These new features significantly lower the short-form video production entry barrier to users, became smashed mass hits upon launching, and attracted millions of users worldwide to create and share videos with their friends.
Besides expanding its home market reach, Likee was also successful in distributing its content in our instant messaging platform, IMO, by granting access to Likee short-form video feeds to IMO users in over 45 countries and regions, we were able to increase our IMO embedded short-form video, monthly active users to 50.2 million during the third quarter of 2019. This is also a good example, demonstrating the great synergies across multiple products.
Now, let me share more colors about our progress with IMO. In addition to video content, IMO was also injecting additional innovative social features to enhance user stickiness and promote social interactions. As a result, in the third quarter, IMO's communication services will utilize over 400 million times per day on average, while each users average daily usage exceeded 38 minutes. As IMO's user stickiness continue to grow, we were able to unlock its monetization potential through advertisement.
As a result, IMO's advertising revenues increased by 25% sequentially during the third quarter of 2019. To further establish IMO, as a world-class video-based instant messaging platform. We plan to continue cultivating across platform operational model, diversifying content and services and refining monetization tactics, through both live streaming tipping and video and IM related type advertisement.
Besides short-form video and instant messaging, our international live streaming platform, BIGO LIVE also achieved solid progress both operational and financial. During the quarter, BIGO LIVE's monthly active user reached a record-breaking level of 21.9 million representing a 9.7% year-over-year increase. As BIGO LIVE secures its foothold in emerging markets. It is able to further expand into developed markets and grab more opportunities. As a result, its revenue contribution from developed markets such as Europe, Americas, Japan and other regions increased further to 26% in the third quarter -- and 21% in the second quarter of 2019.
All of our aforementioned business success is built on the foundation of our technology advancement. During the third quarter, we continued to incorporate AI based recommendation technologies into our platform. Through our proprietary multi-target intelligent recommendation model and real-time exploration discovery model, we are able to characterize, manage and distribute global short-form video and live streaming content more efficiently.
Our multi-target intelligent recommendation model, analyzes