JOYY advertising spend, FY2025

JOYY (JOYY) reported $207M of advertising expense for the fiscal year ended Dec 31, 2025. That is 9.8% of revenue of $2.1B. Down 13.7% from FY2024.

Ad spend, FY2025
$207M
year ended Dec 31, 2025
Change vs prior year
-13.7%
vs FY2024
Share of revenue
9.8%
of $2.1B revenue
Rank by ad spend
#221
of 336 companies

Key facts

  • Ad spend is 47% below its FY2020 level ($389M), while revenue grew 1.0x.
  • The highest year on file is FY2020 at $389M; FY2025 is 47% below it.
  • Largest increase +25.1% in FY2020; largest cut -16.2% in FY2022.
  • Ad spend has fallen 5 years in a row.
  • Ad spend is 9.8% of revenue, down from 19.2% in FY2020.
  • JOYY spends more on advertising than 34% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is 1.9x the median of 5.2%.

Ad spend by fiscal year

$0 $100M $200M $300M $400M FY2019 (ended 2019-12-31): $310M 2019 FY2020 (ended 2020-12-31): $389M 2020 FY2021 (ended 2021-12-31): $384M 2021 FY2022 (ended 2022-12-31): $321M 2022 FY2023 (ended 2023-12-31): $270M 2023 FY2024 (ended 2024-12-31): $240M 2024 FY2025 (ended 2025-12-31): $207M 2025 $207M

Ad spend as % of revenue

0% 5% 10% 15% 20% FY2019 (ended 2019-12-31): 8.5% 2019 FY2020 (ended 2020-12-31): 19.2% 2020 FY2021 (ended 2021-12-31): 14.6% 2021 FY2022 (ended 2022-12-31): 13.3% 2022 FY2023 (ended 2023-12-31): 11.9% 2023 FY2024 (ended 2024-12-31): 10.7% 2024 FY2025 (ended 2025-12-31): 9.8% 2025 9.8%

History

Download CSV
Fiscal year Period end Ad spend YoY Revenue Ad / revenue Tag Filing
FY2025 Dec 31, 2025 $207M -13.7% $2.1B 9.8% MarketingAndAdvertisingExpense 20-F Apr 28, 2026
FY2024 Dec 31, 2024 $240M -11.1% $2.2B 10.7% MarketingAndAdvertisingExpense 20-F Apr 28, 2026
FY2023 Dec 31, 2023 $270M -15.9% $2.3B 11.9% MarketingAndAdvertisingExpense 20-F Apr 28, 2026
FY2022 Dec 31, 2022 $321M -16.2% $2.4B 13.3% MarketingAndAdvertisingExpense 20-F Apr 29, 2025
FY2021 Dec 31, 2021 $384M -1.3% $2.6B 14.6% MarketingAndAdvertisingExpense 20-F Apr 26, 2024
FY2020 Dec 31, 2020 $389M +25.1% $2B 19.2% MarketingAndAdvertisingExpense 20-F Apr 27, 2023
FY2019 Dec 31, 2019 $310M n/a $3.7B 8.5% MarketingAndAdvertisingExpense 20-F Apr 29, 2022

What the figure is

Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.

Compared with similar spenders

The 6 companies closest to JOYY in latest-year ad spend.

Rank Company Ad spend Ad / revenue YoY Fiscal year
219 Lennar $211M 0.6% +10.4% FY2025
220 Choice Hotels International $208M 13.0% +6.8% FY2025
221 JOYY $207M 9.8% -13.7% FY2025
222 Atlassian $206M 3.1% +34.8% FY2026
223 Primo Brands $206M 3.1% -5.9% FY2025
224 GoodRx $203M 25.5% -3.8% FY2025
225 Vertex Pharmaceuticals $203M 1.7% +136.6% FY2025

Full ranking of 336 companies · Biggest cuts #19

Questions

How much does JOYY spend on advertising?

JOYY spent $207M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 20-F filed Apr 28, 2026.

What percentage of revenue does JOYY spend on advertising?

9.8% of revenue in fiscal 2025 ($207M of $2.1B). The median across the 336 companies tracked is 5.2%.

Is JOYY spending more on advertising?

No. Ad spend fell 13.7% in fiscal 2025 from fiscal 2024. It has fallen 5 years in a row.

How does JOYY rank by advertising spend?

#221 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.

What does JOYY's advertising figure include?

Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.

Source

Filing
20-F for FY2025, filed Apr 28, 2026
Accession number
0001104659-26-049917
Company
JOYY Inc., CIK 1530238, SIC 7374 (Services-Computer Processing & Data Preparation)
Data
SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
Cite
JOYY advertising spend, FY2019-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 20-F filed Apr 28, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/joyy/advertising-spend/
Download
CSV, all years · CSV, all 336 companies