Sohu.com (SOHU)

Operations

Aggregate registered accounts for Changyou’s games as of September 30, 2009 increased 9% quarter-on-quarter and 46% year-on-year to 75.1 million.

Aggregate active paying accounts (“APA”) for Changyou’s games increased 1% quarter-on-quarter and 20% year-on-year to 2.4 million.

Aggregate average revenue per active paying account (“ARPU”) for Changyou’s games increased 2% quarter-on-quarter and 7% year-on-year to RMB190, which Changyou believes is within a range that is affordable for the majority of Chinese game players.

Aggregate peak concurrent users (“PCU”) for Changyou’s games was approximately 910,000, a decrease of 4% quarter-on-quarter and an increase of 18% year-on-year.

Operations

Aggregate registered accounts for Changyou’s MMORPGs as of June 30, 2009 increased 9% quarter-on-quarter and 53% year-on-year to 69.1 million.

Aggregate active paying accounts (“APA”) for Changyou’s MMORPGs increased 5% quarter-on-quarter and 32% year-on-year to 2.39 million.

Average revenue per user (“ARPU”) for Changyou’s MMORPGs increased 4% sequentially and 6% year-on-year to RMB186, which Changyou believes is within a range that is relatively affordable for the majority of Chinese game players.

Aggregate peak concurrent users (“PCU”) for Changyou’s MMORPGs was approximately 950,000, a decrease of 2% quarter-on-quarter and an increase of 23% year-on-year.

Operations

Aggregate PCU for both MMORPGs increased 16% quarter-on-quarter and 47% year-on-year to 970,000, while PCU for Tian Long Ba Bu (“TLBB”), Changyou’s in-house-developed, martial-arts-style game, increased 19% quarter-on-quarter and 48% year-on-year to 875,000 following the release of Changyou’s “Legend of the Shadow” expansion pack on March 26, 2009. Registered accounts of TLBB as of March 31, 2009 increased 12% quarter-on-quarter and 80% year-on-year to 50.1 million.

Aggregate APA for both MMORPGs increased 14% quarter-on-quarter and 50% year-on-year to 2.27 million, while APA for TLBB increased 16% quarter-on-quarter and 52% year-on-year to 2.11 million.

Average revenue per user (“ARPU”) for both MMORPGs decreased 8% quarter-on-quarter and 7% year-over-year to RMB179, while ARPU for TLBB decreased 9% quarter-on-quarter and 12% year-on-year to RMB176. The decrease was mainly a result of Changyou’s strategic decision to maintain TLBB ARPU at a level that is comfortable for the majority of Chinese game players with the goal of fostering a healthy in-game environment so as to further extend lifecycle of the game.