Bilibili, a leading video community in China, announced on Wednesday its unaudited financial results for the third quarter of this year. Total net revenues reached 5.2 billion yuan ($808 million), a 61% increase from the same period in 2020. Net loss was 2.689 billion yuan, compared with 1.1 billion in the same period of 2020.
In terms of revenue composition, Bilibili‘s revenues from mobile games were 1.39 billion yuan, representing a year-on-year increase of 9%. Revenues from value-added services were 1.9 billion yuan, representing an increase of 95% from the same period of 2020. The revenues are mainly attributable to the company’s enhanced monetization efforts which were led by an increased number of paying users for the company’s value-added services. Premium memberships and live-broadcasting services made up most of the big revenue generators.
Bilibili‘s revenues from advertising were 1.17 billion yuan, representing an increase of 110% from the same period of 2020. This increase was primarily attributable to further recognition of Bilibili’s brand name in China’s online advertising market as well as the company’s improved advertising efficiency.
An increase in sales of products through the company’s e-commerce platform helped boost e-commerce revenues to over 734 million yuan, representing an increase of 78% from the same period of 2020.
Average monthly active users (MAUs) reached 267.2 million, and mobile MAUs reached 249.9 million, representing increases of 35% and 36%, respectively, from the same period in 2020. Average daily active users (DAUs) reached 72.1 million, a 35% increase from the same period in 2020. Average monthly paying users (MPUs) reached 23.9 million, a 59% increase from the same period in 2020.
In terms of consumption and time spent on the platform, users spent an average of 88 minutes per day on Bilibili, the longest duration the company has seen in its operating history. For the fourth quarter of 2021, the company currently expects net revenues to be between 5.7 billion yuan and 5.8 billion yuan.
In addition, Open Invention Network (OIN), a patent non-aggression community, announced today that Bilibili has become one of its licensees and community members. As a video community, Bilibili is reinforcing its commitment to open source software (OSS) and promoting the construction of open source communities in the computer field.
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OIN’s community practices patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis. Patents owned by the Open Invention Network are similarly licensed royalty-free to any organization that agrees not to assert its patents against the Linux System. Domestic enterprises such as Xiaomi, Huawei, ByteDance and Alibaba are already members of OIN.