By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
TechziTechziTechzi
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Search
© 2023 Techzi . All Rights Reserved.
Reading: 17Live Hits High Note with 26% Profit Jump in Debut Year
Share
Font ResizerAa
TechziTechzi
Font ResizerAa
Search
  • Home
  • Community
    • Our Review
    • Join Our Slack community
    • Referral: Richieee
    • Referral: 6 for 6
  • Publications
    • Special Report: SE Asian Startup Funding
    • Top 30 Most Funded Southeast Asia Startups
  • Agencies
  • About
    • About us
    • Contact
Have an existing account? Sign In
Follow US
© 2023 Techzi . All Rights Reserved.
Media

17Live Hits High Note with 26% Profit Jump in Debut Year

Nicole Kristine Jovero
Last updated: May 3, 2024 2:18 am
Nicole Kristine Jovero
Share
1 Min Read
SHARE
  • 17Live’s adjusted EBITDA jumped 26% in fiscal 2023 debut.
  • Strong operating income offset 23% revenue drop.
  • Cost discipline, improved margins signal livestreaming platform’s profitability focus.

Contents
Cost discipline is keyThe stream flows on

Singapore-listed livestreaming platform 17Live reported a 26% year-on-year rise in adjusted EBITDA to $20 million for fiscal 2023, its first annual earnings since going public.

Strong operating income fueled the profit boost despite a 23% drop in revenue to $279 million.

Cost discipline is key

17Live’s effective cost management and focus on returns paid off with a 37% operating income increase.

Gross profit margins improved to 41.2% from 34.7% in 2022 as the company kept a tight rein on expenses, slashing marketing costs by nearly 13%.

While livestreaming remains 17Live’s bread-and-butter, live commerce and other emerging businesses saw revenues soar 34.7% to $8.1 million.

The stream flows on

The firm’s IP-Oh listing “significantly enhanced” its balance sheet health with $102.7 million in cash and no debt.

Over 550,000 monthly active users and nearly 87,000 livestreamers across 130+ regions, 17Live hit all the right notes in its market debut. Its “improved liquidity” bodes well to navigate evolving content consumption trends.

To read the original article: https://www.techinasia.com/sgxlisted-17live-records-25-rise-ebitda-2023

TAGGED:div5

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook X Copy Link Print
Share
Previous Article Thai Giant Betagro Bets Big on Future FoodTech with New VC Arm
Next Article GoTo Waves Goodbye to Tokopedia Logistics Arm

Subscribe to our newsletter to get our newest articles instantly

Please enable JavaScript in your browser to complete this form.
=

Stay Connected

XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow

Latest News

Techzi is Pausing
Media December 24, 2024
Twitch Pioneer Emmett Shear Launches Mysterious AI Venture
AI December 24, 2024
OpenAI CEO Labels Musk a ‘Bully’ in Latest Tech Titan Clash
AI December 24, 2024
AI Revolution Could Spark Live Entertainment Boom
Culture December 24, 2024

You Might also Like

Food tech

Jack Ma Launches New Pre-Packaged Food Venture Amid Agricultural Focus

February 12, 2024
ClimateVC

Clime Capital Launches $127 Million Southeast Asia Clean Energy Fund

February 17, 2024
AIFAANG

Apple Goes on AI Startup Shopping Spree to Catch Up

February 12, 2024
AI

Musk Sues OpenAI and Altman As Former Partners Feud Over AI

March 13, 2024
e-Commerce

Return Helper Revolutionizes Cross-Border E-Commerce Returns

August 27, 2024
Accelerators

Orbit Startups names 9 firms in newest cohort

February 12, 2024
VC

Antler’s $72M Boost for Southeast Asian Startups

August 15, 2024
Fintech

JB Financial Expands Fintech Footprint with Stake in Vietnam’s Infina

March 14, 2024
e-Commerce

Southeast Asian Ecommerce Enabler OnPoint Expands Regional Footprint

December 23, 2024
Social Media

TikTok Dips Its Toes into Southeast Asian Local Services Market

July 24, 2024
AI

ChatGPT Gets Personal with New Memory Feature

February 19, 2024
AI

Microsoft Pledges to Upskill 2 Million Indians in AI by 2023

February 19, 2024

Techzi

SE Asian tech news: Free & Comprehensive. Read more

Quick Links

  • Logistics
  • Marketplace
  • Mobility
  • Startups
  • VC
  • Food tech
  • Gaming
  • Health-Tech
  • Media
  • Social Media
  • SaaS
  • Travel

Quick Links

  • AI
  • Edutech
  • Climate
  • Creators
  • Crypto & Web3
  • Culture
  • Deep Tech
  • e-Commerce
  • FAANG
  • Fashion
  • Fintech

Techzi Tech Newsletter

FREE and Curated by Tech Insiders

Legal

Privacy Policy

Terms & conditions

TechziTechzi
Follow US
© 2024 Techzi . All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?