Betta Tiger Teeth, can you rescue it again?
The reward live broadcast is coming to an end, and an era has come to an end. Like the setting sun, the afterglow on the horizon gradually disappears, and this once glorious industry gradually dims.It's almost the end of the year, but the live game industry is turbulent. On November 22, Chengdu Dujiangyan Public Security Officer Wei confirmed that Chen Shaojie, the founder of Douyu, was suspected of opening a casino and was arrested in accordance with the law. This news was like a bolt from the blue, which put Betta in trouble for a while. A number of top game anchors have suspended live broadcasts, and some big anchors have been suspended for more than 10 days, which is concerning. At the same time, Huya is not at peace. In August this year, its founder and CEO Dong Rongjie resigned, and then its head anchor Zhang Daxian also stopped broadcasting after the last broadcast in Huya, and announced in December that he would switch to Douyin and complete his debut.
The game live broadcast industry has been developing for nearly a decade, and the duopoly of Douyu and Huya has gone through a series of ups and downs such as the "Thousand Broadcast War" and the failure of the merger, and finally survived Tencent's Penguin E-sports. However, now they are entering the cold winter together. Affected by this, the stock prices of Douyu and Huya continued**. As of December 7**, Betta closed at 0$72 shares, Huya closed at 3$44 shares. According to the relevant rules, if the share price of Douyu does not return to more than $1 by April 22, 2024, it may face delisting. Back then, in 2021, when Tencent promoted the merger of Douyu and Huya, Douyu's stock price was as high as 20$54 shares, Huya is as high as 36$33 shares。Today, the market capitalization of Betta and Huya is 2$3.6 billion and 81.4 billion US dollars, people can't help but sigh that time flies and the world changes. 
In this turbulent era, the future of the game live streaming industry is full of unknowns.
As early as the moment when the "merger plan" was shattered in 2021, the endgame of Huya and Douyu had already been written. The rise of the live gaming industry dates back to 2014, when Amazon started with 9The $700 million ** acquired the American online game live streaming platform Twitch, and at the end of the year, A-shares began to speculate on e-sports. In the same year, YY established an independent brand Huya Live, and Douyu Live came out. In the next few years, game live broadcast platforms such as Huya, Betta, Dragon Ball, Panda, Battle Flag, and Penguin E-sports competed to rise, and the battle of thousands of broadcasts began. 
In this era of capital frenzy, the game live broadcast industry began to burn money to poach anchors and grab copyrights, and about ninety percent of game live broadcast companies became cannon fodder in 2017 and retired from the table. Investment institutions' investment in the game live broadcast industry plummeted in 2018, and a number of live broadcast platforms that did not have self-hematopoietic ability and could not raise funds were screened out. In 2019, the game live broadcast industry opened the "Tencent era" - Tencent occupied half of the industry by investing in Huya and Douyu and incubating Penguin e-sports. Huya and Douyu also went public in the United States in 2018 and 2019 respectively to welcome their respective highlight moments. Since then, Tencent has continued to increase its stake in Huya and Douyu, trying to promote the merger of the two to reduce internal friction. However, in July 2021, this plan was terminated by the anti-monopoly law, and after the "merger dream" was shattered, on April 7, 2022, "Penguin Esports" issued a delisting announcement. 
In fact, from 2020 onwards, the rise of e-commerce live streaming has overshadowed game live streaming and show live broadcasting. In the face of the siege from Station B, Douyin, and Kuaishou, coupled with the decline in their own performance, Huya and Douyu have basically become "Tencent outcasts". The glorious era of the traditional tipping live broadcast industry has come to an end, and the live broadcast industry has entered an era of traffic redistribution.