P2P video streaming is a lucrative business - if you're in China, that is. Shanghai-based PPStream has announced that it's expecting revenue of about 10 to 12 million US-dollars for this year, according to Marbridge Consulting. PPStream's Q1 revenue was 200% higher than the previous quarter, and 300% over the same quarter a year ago. PPStream announced that it's been profitable since this spring, according to the report.

There's also an interesting tidbit in the article that may explain some of those healthy numbers. 50% of PPStreams advertising is apparently for online games - an indicator for the fact that PPStream's audience is fairly young and that P2P TV is increasingly replacing traditional TV for young adults in China.

PPStream isn't the only company raking in big bucks with P2P TV in China. Competitor PPLive has also been very successful, atracting up 30 million active users per month. PPLive is now planing an expansion into western markets and recently hired Microsoft's former Senior Director for Online Services Vincent Tao as its new CEO.

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