How has Huya's revenue from live streaming and advertising evolved in Q4 2024 compared to previous quarters?

Huya's revenue from live streaming and advertising in Q4 2024 showed a distinct evolution compared to previous quarters:

1. **Decline in Live Streaming Revenues**:
- In Q4 2024, Huya's live streaming revenues decreased to $215.5 million.
- This marked a significant drop from the previous quarter, where live streaming revenues were $298.7 million in Q3 2024.
- The soft industry environment and proactive business adjustments contributed to this decline.
2. **Growth in Advertising and Other Revenues**:
- Despite the decline in live streaming revenues, advertising and other revenues grew to $26.2 million.
- This segment experienced a year-over-year increase of 29.2%.
3. **Strategic Transformation Impact**:
- Huya's strategic pivot towards game-related services and advertising is evident, as these services contributed significantly to the revenue.
- The growth in game-related services, advertising, and other revenues by 152.7% year-over-year in Q3 2024 indicates a successful diversification.
4. **Quarterly Revenue Trends**:

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|HUYA|HUYA.N|HUYA|20240101-2024|Game-Related Services, Advertising and Other Revenues|1.33392E9|169|
|HUYA|HUYA.N|HUYA|20240101-2024|Game-Related Services, Advertising and Other Revenues|9.62281E8|169|
|HUYA|HUYA.N|HUYA|20240101-2024|Game-Related Services, Advertising and Other Revenues|5.52121E8|169|
|HUYA|HUYA.N|HUYA|20240101-2024|Game-Related Services, Advertising and Other Revenues|2.43603E8|169|
|HUYA|HUYA.N|HUYA|20240101-2024|Live Streaming|1.260444E9|169|
|HUYA|HUYA.N|HUYA|20240101-2024|Game-Related Services, Advertising and Other Revenues|2.43603E8|169|

- Huya's total net revenues for Q4 2024 were $650.09 million from live streaming and $182.75 million from game-related services, advertising, and other revenues.
- The company's total net revenues have shown a decreasing trend from Q1 2024's $908.57 million to Q3 2024's $343.12 million, and then to Q4 2024's $650.09 million, indicating a stabilization in the fourth quarter.

In conclusion, Huya's Q4 2024 revenue dynamics reflect a company navigating challenges in the live streaming sector by focusing on strategic shifts, particularly in enhancing its game-related services and advertising. These efforts have shown promising results, with game-related services experiencing substantial growth, mitigating the impact of declining live streaming revenues.