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  "documentTitle": "Joyy Inc. (YY)",
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  "authorName": "Carson Block",
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      "text": "In December 2019, we reviewed the 96,432 YY Live PUs that XHL tracks. Our analysis found that 24.9% of these PUs were controlled by YY. We further found that their gift contributions accounted for 48.0% of the gift revenue in our sample.",
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      "text": "In December 2019, we reviewed the 96,432 YY Live PUs that XHL tracks. Our analysis found that 24.9% of these PUs were controlled by YY. We further found that their gift contributions accounted for 48.0% of the gift revenue in our sample.",
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      "text": "We used Google Chrome web developer tools to collect data from YY Live starting in October 2019. From Nov 27, 2019 to Feb 4, 2020, we expanded our data monitoring, collecting over 115.6 million gift transactions sent by 1.2 million PUs to 20,715 performers.",
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      "text": "Footnotes 5-11 detailing data sources, monitoring periods, and corporate affiliations.",
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      "text": "YY-Controlled PUs Generated Roughly Half of YY Gift Revenue in December 2019",
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