LIZHI INC. ("LIZHI" or the "Company") (NASDAQ: LIZI), an
audio-based social and entertainment platform, concludes a
remarkable year of growth that saw the Company hit several major
milestones throughout 2021, from expanding its global presence to
enhancing its product portfolio and technology.
With the development of LIZHI’s global audio
ecosystem, LIZHI is dedicated to satisfying user demands through
diversified social and interactive entertainment products. While
LIZHI was originally known for its flagship LIZHI App, the Company
has since diversified its products to include global hit social app
TIYA and the vertical podcast platform LIZHI Podcast App. The
products are powered by the Company’s proprietary real-time
communication (RTC) technology – dubbed the DOREME audio technology
solution – which allows for a smoother and more stable audio
streaming and livestreaming experience.
LIZHI’s major milestones in
2021:
- Top-line growth: Revenue in the
first nine months reached RMB1.56 billion,
surpassing its 2020 full-year revenue.
- Global expansion: The Company’s
global social networking platform TIYA App has been rolled
out in overseas markets, including the U.S., and has been
improving its user experience, innovating and adapting to a diverse
range of social scenarios, and catering to the social needs of the
younger generation.
- Multi-device development:
Integrated LIZHI’s in-car audio products into new usage scenarios
through forging partnerships with major vehicle
manufacturers and Internet of Vehicles companies.
- Technology advancement: Contributed
to technological innovation through the improvement of LIZHI’s
in-house DOREME audio technology solution and
development of its in-house instant messaging (IM) technology, both
of which provide tailored features for the Company’s various
products.
- Industry recognition: Recognized by
multiple tech awards, including being lauded as one of
China’s Top 100 Internet Companies for a third
consecutive year.
LIZHI expands its social media presence
globally
In October 2020, LIZHI launched its global
social networking platform, the TIYA App, in the U.S. market and
officially tapped into the international market. Powered by
innovative product features, TIYA App has quickly gained broad
attention in the U.S. market. In 2021, LIZHI continued to expand
into the international market and decisively implemented the
Company’s globalization strategy. LIZHI remains focused on
improving its user experience and optimizing product features with
its enhanced audio technology and algorithm system, which aims to
meet the social demands of the younger generation in the
international market, enhance the network effect of LIZHI’s
products, and promote sustainable business growth.
In September 2021, LIZHI launched the “My
Friends” live status feature on the TIYA App, which was designed to
redefine the traditional contact list found in most social
products. The new feature uses an algorithm-based recommendation
engine to simplify how users can find and interact online with
friends with shared interests and discover their friends’ social
desires and status. It allows users to participate in activities of
diverse topics, encouraging more user interaction in real time with
existing contacts.
In addition, more innovative product functions
and tools, including mini games, screen sharing, and interest
groups were introduced on the TIYA App. These features enable users
to participate in various online social activities, including
teaming up to play mobile games, sharing screens as they watch a
movie or video, and studying or chatting online. These features
reinforce users’ friendship bonds on the platform and enhance the
online social experience.
Integrating LIZHI’s product portfolio
into new usage scenarios
In 2021, LIZHI has been dedicated to technology
innovation in the field of in-vehicle podcasts; improving and
optimizing the auto entertainment experience; and cooperating with
many auto companies and Internet of Vehicles platforms including
Tencent WeScenario, Huawei HarmonyOS, XPeng Motors, Li Auto, WM
Motor, and HiPhi. LIZHI has integrated its online audio products
into in-car intelligent entertainment systems and collaborated with
automotive companies to explore increased engagement with more
end-users and in a greater variety of scenarios, as well as create
a boutique podcast platform with innovative products and
technologies that provide users with a better in-car audio
experience.
LIZHI launched a new Livestream Podcast feature
on the LIZHI Podcast App in April. As the first platform in China
to offer its community of users livestreaming podcasts for the
in-car scenario, LIZHI Podcast is dedicated to promoting real-time
engagement between talented podcast content creators and LIZHI
Podcast users. Livestream Podcast features have been added to
vehicles from well-known automakers such as XPeng Motors and in-car
entertainment systems like Huawei’s HarmonyOS ecosystem. This fresh
new mode of interactive audio entertainment allows participants and
content creators to have organic conversations and interactions on
both the mobile application and in the in-car scenario.
Advancing the development of LIZHI’s
in-house technology
Working tirelessly to also enhance its products’
user experience, LIZHI has improved its foundational DOREME audio
technology solution, which combines real-time communication (RTC)
technology and audio data transmission with noise reduction, voice
quality optimization, and 3D enhancements. DOREME’s RTC technology
is designed to bolster the software infrastructure for LIZHI’s
products to reduce voice delay, which makes real-time multi-user
on-air interaction seamless and natural. DOREME ensures a superior
audio experience with improved sound quality and specifically
supports LIZHI apps’ livestream feature across different usage
scenarios, making it compatible with more in-car operating systems
and Internet of Vehicles platforms.
LIZHI is also stepping up the development of its
in-house IM technology, which is designed to provide more tailored
features for various products and help improve users’ interactive
experiences through customized technological innovation.
For in-car usage scenarios, LIZHI has rolled out
new audio functions – voice search and voice-activated control – on
its in-car audio products, providing vehicle users with an enhanced
interactive experience as they navigate and listen to LIZHI’s
extensive library of audio content. In collaboration with Huawei
HarmonyOS, LIZHI also launched its “one-click seamless
connectivity” feature, which supports the cross-screen connection
and use of LIZHI’s in-car audio products between HarmonyOS-equipped
devices for an uninterrupted podcast experience.
Themed activities grow user engagement
and give back to the community
During the past year, LIZHI successfully
organized a series of themed events and activities to provide users
with new and exciting ways to interact, thereby increasing user
engagement and enhancing its community-oriented atmosphere.
Collaborating with the Aranya Theater Festival and Midnightalks
Podcast Network, LIZHI launched the “Migratory Birds Live Radio”
project – China’s first 300-hour non-stop live audio broadcast
featuring 300 diverse content creators from across China.
In June 2021, LIZHI hosted the “Voices of
Science and Technology Week” online forum, which spotlighted the
core theme of technology. The event created the first themed forum
for a live podcast in China and also invited renowned participants
and hosts from diverse backgrounds to take an in-depth look at the
technology industry through the new Livestream Podcasts
function.
In late 2021, LIZHI hosted the online “2021
LIZHI Annual Gala” series of competitions recognizing outstanding
individuals from LIZHI’s content creator community. This online
event is designed to empower content creators and encourage content
creation, as well as increase user engagement on the LIZHI
platform.
In addition, LIZHI gave back to the community by
actively engaging in corporate social responsibility events and
activities as a content community platform. For example, on
National Disability Day, LIZHI released a short documentary film to
highlight the stories of its young audio content creators with
physical disabilities. These creators showcased their vocal talents
on the LIZHI App by creating an audio program titled “Seeing the
World with Your Ears”. LIZHI hopes to empower young people with
physical disabilities to express themselves through their voices
using the influence of the Company’s platforms.
An award-winning company
To top off a standout year, LIZHI has racked up
a slew of industry accolades in 2021 – recognizing the Company’s
notable achievements in the online audio industry as well as its
advancements in and contributions to technological innovation and
development.
Most recently, LIZHI was named one of China’s
Top 100 Internet Companies for the third year in a row by the
Internet Society of China, and among the “Top 20 Internet Companies
in Guangzhou in 2021” and “Most Innovative Internet Companies in
2021” by the Guangzhou Internet Society in late October.
LIZHI continued to strengthen its proprietary
technological capabilities with a focus on the core technology
advancement. As a member of the Pilot Enterprise Cooperation
Alliance of Online Audiovisual Industry in Guangdong Province,
LIZHI’s Audio Engineering Technology Research Center has also been
recognized by the Guangdong Science and Technology Department on
its 2021 list of Engineering Technology Research Centers of
Guangdong Province. Leveraging LIZHI’s expertise in technology and
years of experience in the industry, LIZHI also initiated and
established the Pilot Enterprise Cooperation Alliance of Online
Audiovisual Industry in Guangdong Province with nine other pilot
enterprises of the online audiovisual industry in Guangdong in
April 2021.
LIZHI’s products have also received multiple
prestigious accolades. In May, LIZHI Podcast was recommended by
Apple’s App Store as one of its featured apps. LIZHI Podcast is the
first Chinese podcast app to be recommended by the App Store in the
China market – a major milestone for the app since its launch.
LIZHI Podcast was also officially recommended by Li Auto and
XPeng’s App Store – gaining more attention and recommendation from
users. With technological innovation and the continued cultivation
of high-quality content, LIZHI Podcast received the “Certification
of Intelligent Vehicle Field” from the Huawei Yaoxing (Shining
Star) Program and became one of the ecosystem partners of Huawei’s
“HMS Core Capability Access” app development framework in August
2021. In December 2021, LIZHI Podcast was selected by Huawei as one
of its "2021 Huawei Smart Car Solutions’ Outstanding Partners".
About LIZHI INC.LIZHI INC. has
created a comprehensive audio-based social ecosystem with a global
presence. The Company aims to cater to users’ interests in audio
entertainment and social networking through its product portfolios.
LIZHI INC. envisions an audio ecosystem where everyone can be
connected and interact through voices. LIZHI INC. has been listed
on Nasdaq since January 2020.
For more information, please visit:
http://ir.lizhi.fm or https://www.lizhiinc.com/en.
Safe Harbor StatementThis press
release contains forward-looking statements. These statements are
made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Statements that are not
historical facts, including statements about the Company’s beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement. In some cases,
forward-looking statements can be identified by words or phrases
such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or other similar expressions. Further
information regarding these and other risks, uncertainties or
factors is included in the Company’s filings with the Securities
Exchange Commission. All information provided in this press release
is as of the date of this press release, and the Company does not
undertake any duty to update such information, except as required
under applicable law.
For investor and media inquiries, please
contact:In China:LIZHI INC.IR DepartmentTel: +86 (20)
3866-4265E-mail: ir@lizhi.fm
The Piacente Group, Inc.Jenny CaiTel: +86 (10)
6508-0677E-mail: Lizhi@tpg-ir.com
In the United States:The Piacente Group,
Inc.Brandi PiacenteTel: +1-212-481-2050E-mail: Lizhi@tpg-ir.com
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