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“Live-streaming allows us to expand into numerous other areas, for example content production.

Right now, we’ve only touched the content on live-streaming.

With one small screen taking up 45 minutes [of a user’s] day, we can support a huge company,” he said.

“On the revenue side, 0 million in [annualized] revenue is sizable when you compare it to traditional media, which relies on advertising — something we haven’t done yet,” Phua added.

Phua, who believes the firm can double its revenues before the end of this year, is particularly bullish around the potential of live-streaming.The list of established companies moving into streaming is nearly endless.Facebook, Instagram, You Tube, Twitch and then in China fellow dating app Momo, and fast-growing Kuaishou among others.One woman attending was quoted as saying that she felt the event was more trustworthy as it was organised by the youth league.The new unit was established to meet the changing needs of young people, an official at the league in Zhejiang told the .

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