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Lizhi Partners with Electric Carmaker to Create Branded Podcast Service

Ding Yi / Apr 27, 2021 07:00 PM / Business & Tech

Lizhi, a loss-making Chinese audio content platforms operator listed in the U.S., said on Monday that it plans to add a podcast service specially designed for domestic electric carmaker WM Motor on its podcast app, expanding the roster of automakers with which it has built ties.

The move marks an extension of a partnership the two companies announced last week, when Lizhi said that it would incorporate its audio content product into the in-car systems of WM-branded electric vehicles.

The partnership with WM Motor could be viewed as Lizhi’s renewed effort to turn a profit through seeking commercial agreements with smart connected car makers racing to lure consumers with improved in-car infotainment systems.

Earlier this month, Guangzhou-based Lizhi unveiled plans to add a Clubhouse-style function named “livestream podcast” on its podcast app, which would be integrated into the infotainment systems of electric vehicles made by Xpeng, capitalizing on the sudden rise of Clubhouse, the U.S. audio-based app that allows users to chat on topics in real time using ad hoc online groups, in early February.

In the fourth quarter of 2020, eight-year-old Lizhi saw its revenue jump 15% year-on-year to 420 million yuan ($64 million), as its net loss shrank about 80% to 5.8 million yuan, according to its latest earnings report. Lizhi said that it had 58.4 million monthly active users in the fourth quarter of 2020, up from 51.9 million a year ago.

Contact reporter Ding Yi (yiding@caixin.com)

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