Youku Tudou sees Q2 revenues grow, but losses nearly double
| 21 August 2015
Chinese online video company Youku Tudou has revealed revenues have grown by more than half in the second quarter, but its losses have nearly doubled for the same period.
Its net revenues between April and June were RMB1.61 billion (US$259.6 million), up 57%, due to robust consumer business development and healthy advertising revenues.
Youku Tudou's net loss was RMB342 million (US$55.2 million), compared with RMB142 million (US$23.0 million) in Q2 2014.
Victor Koo, chairman and CEO of Youku Tudou, said: "Once more we delivered accelerated and increasingly diversified top line growth in the second quarter, driven by robust consumer business development and supported by healthy advertising revenues.
"Meanwhile, with nearly half of advertising revenues coming from mobile, we have achieved broad adoption of mobile advertising by domestic and international advertisers alike.
"We expect these positive trends, reinforced by our clear growth strategy and improving business economics, to continue during the second half of this year."
Dele Liu, president of Youku Tudou, added: "We continued to significantly increase web-native content, which is one of the key growth pillars driving our business development this year, in addition to accelerated top line growth and revenue diversification. More specifically, we are creating cross-domain synergy for high quality IPs taking the forms of Web series, online game, and movies, leveraging our large and growing user base and high quality traffic as measured by user time spent and user engagement."