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01 March 2021
Bilibili more than doubles revenue from advertising
Brand growthWebsites, online services, appsVideo on demand
Bilibili, the Shanghai-based video-streaming platform, has been trying for some time to diversify its revenue by becoming more mainstream; its efforts seem to have paid off after it announced last week that its Q4 revenues increased 91% to 3.8bn yuan (US$588.3m).
Within that total, ‘e-commerce and others’, a section that includes content licensing, grew 168% to 740.8m yuan over the same period, while advertising revenue increased by 149% to 722m yuan, the South China Morning Post reported.
Bilibili, which counts large numbers of Chinese Gen Z consumers among its users, has been pushing to expand beyond its original appeal to the niche anime, comics and games (ACG) subculture since it went public on Nasdaq in 2018.
Analysts now expect its new revenue streams outside of gaming, especially in advertising, will be a long-term growth opportunity for the company.
Bilibili is aiming to double its monthly active users from 202 million in the fourth quarter to 400 million by the end of 2023.
However, the company may face challenges in trying to appeal to new users while retaining its core youth support, who helped Bilibili to grow in the first place.
“When the platform has expanded with new content [in areas] such as beauty and lifestyle, it smoothed things out for its advertising business, as a broader range of brands will need a platform like Bilibili with a solid user base among the younger generation” – Shawn Yang, managing director of Blue Lotus Capital Advisors.