Bilibili’s Net Loss Reaches 1.12 Billion Yuan, An Increase of 96% YoY

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(Source: Getty Images)

Bilibili, the iconic brand and a video community for younger generations in China, announced today its unaudited financial results for the second quarter this year, with its net loss reaching 1.12 billion yuan ($173.7 million), compared with 570.9 million yuan in the same period of 2020.

The company’s total net revenues reached 4.49 billion yuan, a 72% increase from the same period in 2020. Its average monthly active users (MAUs) reached 237.1 million, and mobile MAUs reached 220.5 million.

“Our users return and are engaged, with the average user time spent on Bilibili rising to an impressive 81 minutes per user per day, the most we have seen in the second quarter throughout our operating history,” said Mr. Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili.

Mr. Sam Fan, Chief Financial Officer of Bilibili, said, “Our advertising business, which grew by over 200% year-over-year, represents 23% of our total net revenues.”

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Founded in 2009, Bilibili offers a wide array of video-based content with “All the Videos You Like” as its value proposition. For the third quarter of 2021, the company currently expects net revenues to be between 5.1 billion yuan and 5.2 billion yuan.