The first financial report after its second listing on the Hong Kong Stock Exchange shows that the company’s net revenue in the first quarter reached 3.9 billion yuan ($605 million), up 68% year-on-year, exceeding the markets’ expectations.
“We kicked off this quarter with strong user growth. With a booming content ecosystem and fervent community bonds, our monthly active users reached 223 million in the first quarter, spending a daily average of 82 minutes on our platform,” said Chen Rui, Chairman and CEO of Bilibili
Professional User-Generated Video (PUGV) is the cornerstone of a video community. Bilibili
Life, games, entertainment, animation, and technology became the top five most popular categories, which shows the preferences of the Gen Z+ demographic, according to the report. The newly released portrait mode aims to meet their needs.
As a supplement to PUGV, Occupationally Generated Video (OGV) continues to cover more fields. Heaven Official’s Blessing, an animation jointly produced by Bilibili
In the first quarter, revenues from advertising and e-commerce business grew by 234% and 230% year-on-year respectively. Li Ni, vice chairman and COO of Bilibili
With the rapid development of live broadcast, the revenue of value-added services increased by 89% year-on-year in this quarter, reaching 1.5 billion yuan.
However, the revenue from games is about 1.17 billion yuan, up just 2% year-on-year. It is worth noting that in April, Bilibili
After the financial report was released, Chen said in a telephone conference that the company has invested in the games field, one of its main businesses, in order to produce high-quality products rather than making a profit, Jiemian reported. Bilibili