LatePost reported on Wednesday that the number of daily active users of video platform Bilibili has exceeded 65 million, surpassing Youku to become the third largest long-form video platform after iQiyi and Tencent Video.
According to the report, the users’ time on the platform has stabilized at more than 80 minutes.
Its financial Q1 financial report this year showed that its average monthly active users (MAU) increased by 30% year-on-year to 223 million, while the average MAU in mobile devices increased by 33% year-on-year to 209 million.
Founded in 2009, Bilibili was listed on NASDAQ in March 2018 and went through a secondary listing in Hong Kong in March this year.
At the beginning, in order to ensure a friendly atmosphere of creation and use, the platform did not any make large-scale commercialization projects. According to official data, more than 60% of Bilibili’s registered users in 2009 are still active ten years later. Since 2019, the company has launched a strategy of generalization and growth.
In an interview with LatePost at the end of 2019, Chen Rui, chairman of Bilibili, said that within the next three years, the average market value of content-based platforms in China will be about $10 billion, and companies that cannot pass that level will be eliminated in the industry. At that time, its market value was $7 billion.
In order to achieve the goal, Bilibili has promoted the growth of users in various ways in the past two years.
LatePost reported that Bilibili set up a special growth department in 2020. In recent years, the company has been lowering the threshold for members to join, for example, the difficulty of examination questions for becoming members has been greatly reduced.
At present, the market value of Bilibili has exceeded $30 billion. However, the pressure and challenge of growth are still huge. Tik Tok and Kuaishou are trying to integrate long, short and medium length videos into their own platforms.