Shares of Huya Inc. (HUYA) surged 7.29% on Thursday, following the announcement that the Chinese live-streaming platform had renegotiated its licensing agreement with a Tencent affiliate for broadcasting League of Legends, a popular online battle arena game.
The renegotiated agreement is expected to significantly reduce Huya's broadcasting costs for League of Legends, which is one of the most-watched games on its platform. This cost reduction is likely to boost the company's profitability and cash flow, driving investor enthusiasm and the subsequent stock rally.
Huya has been focused on optimizing its content portfolio and partnerships to enhance its competitive position in the rapidly growing live-streaming market in China. The successful renegotiation with Tencent demonstrates Huya's bargaining power and its ability to manage costs effectively.
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