1 Executive Summary

Key Findings:

Creator Impact on Revenue: Creator type significantly impacts revenue generation. Creators with no commission sharing contribute the highest average GMV (2.4 billion VND) but minimal commission (2.5%) to MeLive.
Top Performers: Our analysis identified 76 “A class” creators (20%) contributing a substantial 90% of total NMV. Notably, this group includes creators from all three categories – no commission sharing, full management, and partners.
Full Management Potential: While only 3 out of 6 full-management creators are currently classified as “A class,” their presence highlights the potential for high performance, low cancellation rates, and strong commission generation within this category.
Category Focus: An analysis of top NMV creators reveals a lack of category diversification, with most focusing on a single dominant category (except Vu Duy and Linh An).

2 Revenue

Source: gmv_nmv

There’s a significant difference in GMV generated by different creator types. Creators with no commission sharing generated an average of 2.4 billion VND each over six months, which is double the average GMV of both full-time creators and partner creators.

Revenue By Creator Type
creator_type	total_gmv	total_est_gmv	total_nmv	no_creators	gmv_contrib	nmv_over_gmv	gmv_per_creator
creator_no_sharing_fee	49,219	53,761	11,698	22	12.4%	23.8%	2,444
full_management	4,681	6,071	3,919	6	1.4%	83.7%	1,012
partner	325,786	373,190	185,498	340	86.2%	56.9%	1,098
Total	379,685	433,021	201,115	368	100.0%	53.0%	1,177

While Gross Merchandise Value (GMV) data may have limitations in accuracy, the Net Merchandise Value (NMV) will be used as the primary KPI for evaluating performance across different creator types due to variations in the NMV/GMV ratio.
An analysis of creator classification reveals that 76 creators (20%) fall into the top-performing “A class,” contributing to a significant 90% of total NMV. Notably, this group includes 3 creators from both the “no commission sharing” and “full management” categories.
While only 3 out of 6 full-management creators are classified as “A class,” their presence in this top tier emphasizes the potential for this creator type to achieve excellent performance with low cancellation rates and high commission generation.

Number Of Creators By Segment
abcclass	no_creators	percent_no_creators	creator_type	nmv	avg_no_seller	avg_nmv_per_creator_month	avg_nmv_per_seller_month
A	3	0.8%	creator_no_sharing_fee	10,103	20	875	52
A	3	0.8%	full_management	3,467	47	193	4
A	70	19.0%	partner	167,463	64	554	53
B	3	0.8%	creator_no_sharing_fee	1,072	24	60	3
B	1	0.3%	full_management	365	54	61	1
B	26	7.1%	partner	8,589	43	70	2
C	16	4.3%	creator_no_sharing_fee	523	30	11	1
C	2	0.5%	full_management	87	14	9	1
C	244	66.3%	partner	9,446	14	11	1

An analysis of the top 30 creators ranked by Net Merchandise Value (NMV) reveals that, with the exception of Vu Duy and Linh An, all other creators appear to focus on a single dominant category.

Top 30 creators and category
creator	Chăm sóc sắc đẹp & Chăm sóc cá nhân	Unknown	Trang phục nam & Đồ lót	Giày
vuduy2412	11,018	1,573	0	0
phuong.hxx	0	10,565	0	0
linhan.1998	0	0	8,957	2,690
bedangbae	7,849	0	0	0
skincaredungcach.byson	7,081	0	0	0
solsolunnie2	5,584	0	0	0
lamatuyen	0	4,691	0	0
trinhmeow.vlogger	4,660	0	0	0
gia.hanne__	3,612	0	0	0
vanhlamdep	3,551	0	0	0
im.lukedo	3,437	0	0	0
rinprinday	0	0	3,361	0
doduynamm	3,123	0	0	0
huunghiale0304	0	0	2,944	0
harrydailyyy	2,928	0	0	0
baclynne	2,811	0	0	0
vitamin.phong	2,639	0	0	0
regods.club	0	0	2,635	0
tphat2105	0	0	2,541	0
vincenz2310	0	0	2,022	0
huaquocanh99	1,793	0	0	0
foxiereview	1,787	0	0	0
de_boycatao	0	0	1,759	0
baclynofficial	1,726	0	0	0
swatchesbybaobao	0	0	1,654	0
bigsizenam	0	1,639	0	0
lam.park12	0	0	1,629	0
phnghw	0	0	1,518	0

Source: sales_order

Commission Structure by Creator Type

Creator No Sharing Fee: While these creators contribute significantly to GMV (12.4%), their commission to MeLive is minimal (2.5%) because they do not share revenue. Additionally, they generate the lowest average commission per seller (5.8%) compared to other creator types. In a single livestream, the average commission earned by MeLive from a Creator No Sharing Fee is only 140,000 VND.
Full Management Creators: Despite a lower contribution to GMV (1.4%), full management creators generate a higher commission share for MeLive (6.7%) due to their employment structure. They also boast a higher average commission per seller (10.2%). Interestingly, full management creators appear to be particularly effective in livestreaming, generating an average commission of 837,000 VND for MeLive per livestream.
Partner Creators: These creators fall between the two extremes, contributing a healthy portion of GMV (86.2%) and generating a balanced commission rate for MeLive (around 10.2%). Their average commission per seller aligns with full management creators (10.2%) and their average commission per livestream falls in the middle (308,000 VND).

Sales Order By Creator Type P1
creator_type	total_gmv	gmv_contribution	total_nmv	qty_sold	no_gmv_orders	no_nmv_orders	commission	melive_commission	creator_commission	no_livestreams	no_products
creator_no_sharing_fee	20,695	7.7%	17,601	78,426	68,601	58,233	1,028	146	881	1,048	1,865
full_management	4,589	1.7%	3,927	18,538	16,639	14,196	401	401	0	479	1,599
partner	243,320	90.6%	201,667	1,275,653	1,143,614	958,334	20,473	5,407	15,066	17,538	17,801

Sales Order By Content Type P2
creator_type	aov_gmv	aov_nmv	asp	commission_rate	melive_takerate	ml_com_over_gmv	ml_commission_per_livestream	gmv_per_livestream
creator_no_sharing_fee	301,675.8	302,242.8	263,882.7	5.8%	14.3%	0.7%	139,775.0	19.7
full_management	275,776.6	276,604.6	247,526.5	10.2%	100.0%	8.7%	837,768.5	9.6
partner	212,764.4	210,434.8	190,741.8	10.2%	26.4%	2.2%	308,304.0	13.9