May 03, 2022 (Financial News Media via COMTEX) -- FN Media Group Presents USA News Group News Commentary
Vancouver, BC - May 3, 2022 – USA News Group - The economy for streamers on some of the world's most popular video streaming platforms continues to evolve, in everything from ads, lucrative influencer deals, as well as tips, paid subscribers and one-on-one VIP access from audience members. Among the top sources where popular streamers are deriving their revenues are more well-known streaming platforms such as Twitch from Amazon.com, Inc. /zigman2/quotes/210331248/composite AMZN -0.76% , YouTube from Alphabet Inc. /zigman2/quotes/205453964/composite GOOG -1.23% /zigman2/quotes/202490156/lastsale GOOGL -1.02% , Facebook from Meta Platforms, Inc. , as well as using StreamLabs from Logitech International S.A. /zigman2/quotes/204321690/composite LOGI +0.20% . However, another platform that's steadily grown through its video streaming as well as its strong position in cryptocurrency are the newly newly launched DogeChat and DoggeChat apps from Hello Pal International Inc. /zigman2/quotes/206713317/delayed CA:HP -10.00% (otcqb:HLLPF).
Beyond its already well-used Chinese market, Hello Pal International Inc. /zigman2/quotes/206713317/delayed CA:HP -10.00% (otcqb:HLLPF) has been rapidly growing its live-streaming, language learning and social-crypto platform, and reaching new milestones for overseas livestreaming--including gaining over 50,000 live streamers in United Arab Emirates, Saudi Arabia, Egypt and Bahrain.
"Our marketing and technical team made incredible gains in expanding our user base in the Middle East during the last year," said KL Wong, Chairman and CEO of Hello Pal. "Livestreaming activity has exceeded our expectations in outside China as certain key metrics represent nearly two-thirds of activity. Our focus will now shift to expanding in the same way in other parts of Southeast Asia, other Middle Eastern countries, and India."
Although Hello Pal cut its teeth with strong support within the Chinese market, on-boarding outside has been extremely successful, with 2000-2500 hours of livestreaming time per day versus Chinese livestreaming of 1000-1200 hours per day. Within the business model is gift giving, of which there are 1200 gift givers per day from the Middle Eastern market versus China's daily gift givers of 700 per day.
It’s projected that these livestreaming operations will grow even more upon the successful launch of DoggeChat and DogeChat. These 1-on-1 video chat apps will expand Hello Pal's international platform thereby increasing the exposure of livestreaming into new regions.
Hello Pal's newly launched DogeChat and DoggeChat apps are set to allow users to match and/or video chat with other individual users from across the globe. When a connection is made, 1-on-1 video calls will generate revenues on a per-minute basis, paid for by the call's initiator to the call's receiver--now with the option to pay in crypto, which Hello Pal also is in the business of mining.
“We expect these apps to be very synergistic to our current livestreaming and crypto-mining operations,” said KL Wong, Founder and Chairman of Hello Pal. “They will not only bring into our existing ecosystem new users from different markets, but also allow us to start implementing our goal to make the use of cryptocurrency more widespread in the world, starting with our users.”
This means that livestreamers can not only grow their audiences, but also cultivate revenue from giving 1-on-1 VIP experiences to those willing to pay.
It's here where Hello Pal truly sets itself apart from the giants such as Twitch, YouTube, and FaceBook through the integration of cryptocurrency payments.
Where DoggeChat is set to launch first with payments made in fiat currencies through Apple Pay and Google Pay, DogeChat payments will be made in DOGE and other cryptocurrencies,
Back in 2021, Hello Pal made history by becoming the market's first listed company focused on mining Litecoin (LTC) and Dogecoin (DOGE). Reaction to the announcement was swift, causing a surge in traffic so heavy it temporarily caused a website outage .
“Our livestreaming operations continue to deliver strong operating results as we continue to diversify outside of China," said KL Wong. "With our focus on cryptocurrency mining operations, we anticipate that revenue and profit will continue in an upward trend."
Owned by Amazon.com, Inc. /zigman2/quotes/210331248/composite AMZN -0.76% , Twitch has a history of going in and out and in again on cryptocurrency. One of the earliest cryptocurrency adopters, Twitch added the payment option in 2014, quietly removed it in 2019, and then brought it back again in 2020.
Fans of Twitch streams can donate to support streamers using BTC, ETH, LTC and Bitcoin Cash (BCH), with some streamers making more money from cryptocurrency donations alone than the average high-earning lawyers and physicians.
However, unlike Hello Pal's DogeChat, Twitch streamers don't necessarily have a direct way to generate revenue from a VIP 1-on-1 audience member experience.
Back in November 2021, Twitch signed an exclusive multiyear deal with Crypto.com to serve as the streamer's "official global cryptocurrency platform partner."
Focused more on competing with TikTok , revenue for Alphabet Inc.'s /zigman2/quotes/205453964/composite GOOG -1.23% /zigman2/quotes/202490156/lastsale GOOGL -1.02% platform YouTube saw a slowdown in its revenues in Q1 2022.
Fueled in part by rising competition with the short form video platform TikTok and advertisers responding to high inflation rates, Alphabet reported a substantial miss in its YouTube segment.