Shulou(Shulou.com)11/24 Report--

On the evening of August 25, Keep released its semi-annual report 2023 today. The financial report showed that the company had a total revenue of 985 million yuan during the reporting period, with an adjusted net loss of 223 million yuan in accordance with non-IFRS, which was significantly smaller than the net loss of 317 million yuan in the same period last year.

Keep's revenue mainly consists of three parts: own-brand sports products, member subscriptions and online paid content, and advertising and other three parts. Among them, private-brand sports products achieved 466 million yuan in revenue in the first half of 2023, accounting for 47% of the revenue. Member subscriptions and online paid content are the second largest revenue point of Keep, accounting for 46% of the total revenue in the first half of 2023.

By comparison, revenue from member subscriptions and online paid content businesses grew by 10% in 2023, accounting for a significant increase. Keep said this was due to the good performance of the virtual sporting event business.

Keep explained in its report that in the first half of 2023, the company partnered with a number of popular IP to launch a series of themed events and creative marketing activities on social media and short video platforms to drive the growth of the virtual sports business. Prizes, gameplay and competition systems are constantly changing, helping to increase the average ARPPU per paid user of the event by 30 per cent compared with the same period last year.

At the same time, Keep continuously optimizes courses covering aerobics, rope skipping, yoga, meditation, strength training, and health improvement, increasing the total number of recording and broadcasting classes offered to paying members from 1391 as of June 30, 2022 to 2464 as of June 30, 2023. The upgraded content and services have led to an increase in membership penetration for Keep, from an average of 9.7% in the first half of 2022 to 10.2% in the first half of 2023.

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