WB: T.H. Data Flash - Weibo Corporation (WB) – March 2017: Yi Live Video Performing Strongly; Expect 1Q17 to Outperform Consensus; Maintain Buy Rating
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Yi Live Video’s monetization – Yi Live Video generated 58.6B cumulative virtual coins (RMB586M - RMB838M) as of 3/27/2017 (Figure 1), compared with 34.9B cumulative virtual coins (RMB349M - RMB49 9M) as of 12/11/2016 and 24.6B cumulative virtual coins (RMB351M) as of 9/28/2016, of which a) the top 20 hosts accounted for 41.9% of the total cumulative coins; and b) top 20 audiences contributed to 41.0% of the cumulative virtual coins (Figure 2 & 3). Based on our calculations and data, we believe WB's revenue is likely to be around $191.8M, better than consensus at $187.2 M.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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