This Live Streaming Company’s Share Price Soared 170% in Two Months: Should Investors Take a Second Look?

The Smart Investor09-13

[ Share Facebook Twitter LinkedIn Email WhatsApp It’s not often that you hear of share prices more than doubling in a short space of time. But that’s what happened with 17LIVE Group (SGX...

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Can the company’s share price continue to outperform?\nRead on as we dig deeper into 17LIVE’s business and prospects.\nBrief background of 17LIVE\n17LIVE is a pure-play live-streaming platform in Japan and Taiwan.\nThe group’s business divisions include Liver live-streaming, V-liver live-streaming, and in-app games and live commerce.\nLiver and V-liver involve the use of influencers who create digital, virtual avatars through 17LIVE’s app and broadcast this to their fans.\nThe group then earns revenue from gifts and items purchased by fans (customers) for their favourite idols and influencers.\n17LIVE was listed through a special purpose acquisition company (SPAC) back in October 2023 when Vertex Technology Acquisition Company (VTAC) announced a business combination.\nA weak set of financials\n17LIVE recently released a downbeat set of earnings for the first half of 2024 (1H 2024).\nRevenue fell by a third year on year from US$151 million to US$101.2 million.\nLiver live-streaming revenue tumbled from US$146 million to US$92.4 million but this was offset by a more than threefold year-on-year rise in V-Liver live-streaming revenue at US$4.8 million.\n17LIVE saw its operating profit plunge from US$13 million in 1H 2023 to just US$1.3 million for 1H 2024.\nNet profit for the live-streaming company came in at US$1.9 million for 1H 2024.\nOn the flip side, the company held US$85.6 million of cash and cash equivalents with zero debt.\n17LIVE also generated a negative operating cash flow of US$12.9 million compared with the positive operating cash flow of US$4 million in the prior year.\nLaunch of 17LIVE Forward Strategy\nDespite the weak results, management announced the launch of a comprehensive growth plan with initiatives that will lift the company to the next level.\nThis strategy is anchored on three pillars – the enhancement of 17LIVE’s platform through advanced technology and its diverse community of streamers, the diversification of its revenue stream, and forging of strategic business partnerships.\n\nSource: 17LIVE 1H 2024 Presentation Slides\nCEO Jiang Honghui believes that the company can enhance its unique value proposition in the live-streaming industry to obtain new users.\nAt the same time, 17LIVE will also focus on live streamer acquisition and retention while developing a holistic V-Liver business model.\nThe company has identified the V-Liver segment as one of its near-term growth drivers.\n17LIVE will diversify the content types on its platform while using technology to lower barriers to entry for new users.\nMeanwhile, the company will also expand its intellectual property (IP) portfolio to diversify its monetisation options beyond live streaming.\nSome of these methods include talent management and merchandising fees.\nCollaborations with key partners; expanding its reach\nTo achieve its objectives, 17LIVE has signed two memoranda of understanding (MOUs) with key players in the region.\nOne of them is mm2 Asia Limited (SGX: 1B0), a media entertainment and content company, and the other is AppWorks Ventures Co Ltd, a Taiwan-based venture capital firm.\nThese MOUs will help the company enhance its entertainment offerings and production capabilities while also opening up more investment opportunities within Southeast Asia.\nIn another expansionary move, 17LIVE Japan Inc launched a new cross-border live commerce service called “HandsUP Crossborder” on 19 August.\nThis new service will target the East Asia region, including Taiwan, and enable businesses to match with sales experts and influencers who have significant influence in the region (KOLs).\nA large and growing total addressable market\nThere is a significant addressable market for 17LIVE’s services that should act as a strong catalyst for future growth.\nThe global anime market, which was valued at US$31.2 billion last year, is expanding at a compound annual growth rate (CAGR) of 9.8%.\nJapan is the market leader, accounting for more than 40% of global anime revenue.\nThe V-Tuber market, which is a subset of V-Liver, is also growing rapidly and is valued at US$500 million at present, according to Yano Research Institute.\nAnalysts project substantial growth potential for the live streaming market with a CAGR of 23% between 2024 to 2030.\nThis growth is fuelled by technological advancements in augmented and virtual reality.\n17LIVE is confident of capturing opportunities within this space to grow its V-Liver streaming revenue.\nThe forecast for Asia’s media and entertainment industry, which includes KOLs and character IP, is forecast at US$460 billion by 2027.\nWith such a large market, the future seems bright for the company if it can snag opportunities to grow its business.\nGet Smart: Time will tell\nIt appears that 17LIVE has a huge total addressable market for its live-streaming services.\nHowever, investors should note that there is also competition from other video-sharing sites such as YouTube and other live-streaming outfits.\nTime will tell whether 17LIVE manages to grow its influencer and customer base so that it can report stronger financial numbers.\nThis could be the fastest way to jump from a “newbie” investor to a seasoned pro. Our beginner’s guide shows everything you need to know to buy your first stock and beyond. Click here to download it for free today.\nFollow us on Facebook and Telegram for the latest investing news and analyses!\nDisclosure: Royston Yang does not own shares in any of the companies mentioned.\n\n\n\n]","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467715374"}