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Changyou.com Limited Management Discusses Q2 2012 Results - Earnings Call Transcript

Our strong performance reflect the resilience of the online games industry in China despite the weakening global macroeconomic environment and economic slowdown in China. Also, we flag the ongoing strength of our online games content and the successful expansion into other fast-growing segments of the industry.

I will now review briefly our online game business, starting with our MMO games, our web games and the pipelines we have for both segments and then wrap up with an overview of our online advertising business. Turning first to our MMO games.

Our flagship game, Tian Long Ba Bu or TLBB, continued a smooth momentum and maintained its leading position among MMO games in China. In order to further extend the game's lifespan and to thank players for their continued support of our game, we ran a series of promotions, offering rewards and giveaway items to players as part of the game's fifth-year anniversary celebration. As a result, we saw a slight increase in the number of concurrent player in the second quarter.

We also worked on promoting participation and reinforcing user loyalty by hosting competitions and releasing a new expansion pack. In the latter half of June, we organized a better challenging event, which received a great deal of player interest and will last through September. We launched an expansion pack on July 12 that introduced a new cast and reward systems that provide players with new activities to take part in.

We also released a new micro-client option for TLBB that has made the game more accessible and faster to download for new users. Based on our testing, the micro-client can be downloaded in less than 5 minutes on a 1-megabyte broadband connection. In the fourth quarter, we plan to release TLBB's annual major expansion pack, which we expect to further enhance user loyalty and enthusiasm as these advertisements have done.

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