TLDR: The Bigo Live app has been taken down by Apple and Google for **allowing sales of child porn.** The Bigo Live app is about 80% of $YY’s revenue - and this hasn’t been reported widely - the stock has barely moved
**Overview**
On December 5th, Bigo Live was removed from both the iOS and Android app stores [following reports in the New York Times](https://www.nytimes.com/2024/12/07/us/child-abuse-apple-google-apps.html?unlocked_article_code=1.hE4.IjV3.IUb4nn1olfoc&smid=url-share.) of the app allowing users to pay to watch livestreams of child sexual abuse. The app is still gone (search in your app store)
Joyy ($YY) is a Chinese social media company that gets most of its revenue from the Bigo Live app.
This doesn't seem to be covered anywhere related to $YY - for example [on Marketwatch](https://www.marketwatch.com/investing/stock/yy). Presumably because this is a small-cap Chinese stock no one cares about. The stock is down about 3.5% since the news was reported.
**$YY Revenue Breakdown**
Looking at their [Q3 Earnings](https://ir.joyy.com/news-releases/news-release-details/joyy-reports-third-quarter-2024-unaudited-financial-results) \- **BIGO apps are about 90% of their profit and revenue.**
https://preview.redd.it/brtjouauun6e1.png?width=2470&format=png&auto=webp&s=acbab4e2f3d59058a5122617570cd816c282991e
Two other apps, IMO and Likee are under BIGO here - but are about 10% of the total revenue
https://preview.redd.it/nqwbr0ftun6e1.png?width=600&format=png&auto=webp&s=c5d7825599fc604c48519989febd05ba84e07877
So Bigo Live alone should be around 80% of $YY’s revenue and profit.
It’s worth noting that average revenue per paying user over the quarter was **$231** \- their content clearly monetized well.
They do have a website - [bigo.tv](http://bigo.tv) \- but I suspect it’s a small portion of their revenue. They don’t break out the data in their last [annual report](https://ir.joyy.com/static-files/de629d35-c15e-4046-82d7-856fddbd1d41) but they do say
>We primarily rely on thirdparty application distribution channels, such as the iOS App Store and the Google Play Store, to allow users to download and access our applications and games.
Positions
I am short 1,000 shares - honestly - this company should be worth $0 selling this kind of content.