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Internet Celebrity Economy: Exploring the Value of Viewers’ Comment Features and Live Streamers’
Marketing Strategies in Forecasting Revenue

the higher the viewers' interest in a streamer, the more likely they are to donate to that
content creator (Wan et al., 2017). However, these studies have not adequately addressed
the impact of distinct emotions on paid gifting and which discrete emotions embedded in
comments have a greater influence on gift-sending behavior.

Table 2 The Effects of Viewers' Emotions on Paid Gifting in Live-Streaming

Dependent
Studies Media Theory Method Discrete Emotions
Variable
Phonthanukititha- Facebook Purposive Questionnaire Behavioral ● Excitement
worn and Sellitto (Live needs, design/ Intention ● Joyful
(2017) Telecasts of emotion, Structural
the EPL) social equation
camaraderie, modeling
Subjective
Norm
Wan et al. (2017) YY platform Social- Questionnaire Intent to ● Interesting
(a live- technical design/ donate to
streaming systems and Structural content
video attachment equation creator
website) theory modeling
Zhou et al. (2019) Douyu. Social Web Crawling/ Gift- ● Excitement
com (a live- interaction Regression sending
streaming theory behavior
website)
This study Douyu. Discrete Web Crawling/ Gift- Positive emotion:
com (a live- emotion Hierarchical sending ● Excitement
streaming Bayesian behavior ● Amused
website) Model ● Praising
Negative emotion:
● Complaining
● Disappointed
● Ridiculing

Several prior studies have indicated that online product reviews influence sales and

performance. For instance, Chen and Teng (2013) highlight the importance of online store
owners’ ability to provide entertaining interfaces for their online shoppers. Tang and Zhu
(2019) show that when consumers perceive that a product has high risk, praise-embedded
comments by other users on an O2O (online to offline) website, which would positively
impact their intentions to purchase the product. On the other hand, mismanaged com-

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