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In February 2018, a product called Xiaoxiang Live was launched in Malaysia and Singapore. In the first half of 2020, this application ranked 12th in the local revenue list for more than two years.
This product comes from a young team in China. Zeng Xiangyu, the founder of Xiaoxiang Live, is a post-90s born in Chaoshan area. After graduation, he started working as a clothing business in Guangzhou. He had never had any overseas experience before, and creating a live broadcast product for Chinese in Southeast Asia was his first step in the field of going overseas.
Little Elephant Live App
In Southeast Asia, the live broadcast industry is highly competitive. For example, there are more than 20 live broadcast products in the Malaysian market. There is no shortage of star live broadcast products such as Bigo Live, Twitch, Uplive, and 17 Live in the local market. However, there are still opportunities for players in the segment.
So Zeng Xiangyu and some people from some major Internet companies in China formed a team and went to various countries in Southeast Asia to conduct research. When the product went live in 2018, the elephant live broadcast became profitable one year later. Recently, the company also completed a multi-million dollar A round of financing. Regarding the future direction of the product, Zeng Xiangyu said that he will expand into more emerging markets and make a richer product matrix.
went to sea for the first time
in 2015, optimistic about the advantages of local clothing resources in Guangzhou, Zeng Xiangyu chose to start a business in clothing business. After having his own platform, he started to do to B clothing business.
Until 2017, Zeng Xiangyu went to the Cheung Kong Graduate School of Business to study and was exposed to some cutting-edge information. At that time, the clothing e-commerce business was faced with the problem of slow customer payment and few orders, so he wanted to try it overseas. However, Zeng Xiangyu had never been in contact with overseas markets before. He felt that he wanted to make a lightweight product and finally chose the live broadcast industry.
Zeng Xiangyu found some employees from YY and Alibaba, formed an initial team of only five or six people, and went to conduct investigations in a dozen countries including Malaysia, Singapore and Thailand. The investigation found that the local culture and language are very different, but the Chinese market in Southeast Asia is developing very well, so I decided to do Chinese live broadcast.
Xiaoxiang live platform anchor
Southeast Asia live broadcast market is large, but because of the diversity of languages and cultures, it is difficult to enter. It's easy to hit the ceiling, and the fragmented market generally has no people willing to do it. People generally feel that the investment-output ratio is low, so few people want to challenge these markets.
This is a good entry point for Zeng Xiangyu. He chose not to directly compete with domestic Internet companies. Finding a relatively vertical market segment and doing a few more can also enlarge the company.
builds the ecology of the live broadcast market in Southeast Asia
In 2017, when the Little Elephant live broadcast team visited the Malaysian market, they found that there were already more than 20 live broadcast products, most of which were launched around 2015. By 2020, although the total number of products in the market is still maintained at a certain number, the products in the market have actually changed.
is in Southeast Asia. The current leading live broadcast company is Bigo under Huanju Times. Because the platform is positioned as a national live broadcast, the company has invested heavily in order to expand the anchor and user scale.
Regarding what Xiaoxiang’s live broadcast has brought to the Southeast Asia market, Zeng Xiangyu said that the company has truly built the live broadcast ecology when it arrives in Malaysia. Before that, under the local wild live broadcast ecology, if a brand needs an anchor, let the agent I went to find a lot of female anchors, and everyone divided the money after it was over. This method is still effective in the expansion period, but there is no complete ecology to support the continuous content output of the entire platform.
Little Elephant Live Streaming 2019 Grand Ceremony Awards Ceremony The choice of
Little Elephant Live Broadcasting is to support the construction of guilds (note: anchor brokerage companies), enhance the guild’s content control capabilities, and continue to output high-quality content. In the early pioneering stage of
, the little elephants live broadcasted to local guilds and attracted their attention. Because many local people have prejudices and misunderstandings about live broadcasts, they think that live broadcasts are full of unhealthy content and do not trust the live broadcast platform. After finally gaining the trust of the first guild, they gradually exhibited with more and more guilds.Open cooperation.
From the end of 2018 to the end of 2019, the platform has entered a period of rapid growth. Currently, there are more than 1,000 exclusive anchors on the platform, and the total number of contracted anchors is close to 6,000. The
anchor and the guild rely on the live broadcast of the elephant to make money, and their reputation is also attached to the platform. On the other hand, the platform also needs the guild to bring high-quality anchors, and they have an equal relationship. Zeng Xiangyu mentioned that there have been instances of anchors leaving on the platform, but when they went to other live broadcast platforms, their income and reputation plummeted. The positioning of
Xiaoxiang Live is on the social platform. Social elements are added to the application, allowing users to become friends with the live broadcast. It's not just a boring, time-killing app. The platform will be operated artificially, rather than through a slightly rigid product guide, so that users and anchors become friends and fulfill social needs.
Anchor PK function
In the early stage, the elephant live broadcast application only had the basic live room reward function. Later, some anchor room PK functions and short videos were added to the product iteration.
The return of emerging markets
For more than two years, the team of Little Elephant Live has been focusing on the Malaysian and Singaporean markets and has set up offices there. At the same time, it also attracted some Chinese anchors in Thailand and Vietnam. Relying on the way of recharging and rewarding fans, Xiaoxiang Live has achieved profit in one year.
Little Elephant Live saw the rewards brought by emerging markets. According to data from overseas iOS and Google App Stores based on the drama Sensor Tower, in the first half of 2020, Xiaoxiang Live ranked 12th in the top 20 short video/live streaming APP revenue list in China.
In the first half of 2020, China’s short video/live streaming APP revenue TOP20 list
In addition, according to App Annie statistics as of September 22, 2020, Xiaoxiang Live has ranked first in Singapore’s Google App Store revenue list. During the same period, it ranked sixth in revenue in the Apple App Store; it ranked first in both the Google App Store and the Apple App Store in Malaysia.
Recently, Xiaoxiang Live received the first external financing and completed a multi-million dollar A round of financing, which was not disclosed by the investors.
Regarding the next step, Zeng Xiangyu said that the elephant live broadcast will enter more countries, not just in Southeast Asia.
In the future, the company will not be limited to Chinese live broadcasts, and will focus on more language and cultural users, and hope to make a large-scale product matrix. For
live broadcast, there is still a certain profit margin in the Southeast Asian market, but the local user income determines that the income from live broadcast in Southeast Asia is definitely not as good as the Middle East market. However, compared with blindly staring at profits, Zeng Xiangyu feels that the most important thing now is how to make a thing bigger, slow down, and eventually see results.
He said: "Although the cost of entering the Southeast Asian market is relatively high, there is still a great opportunity if you can bear loneliness and do it with your heart."
