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Bilibili Releases Fourth Quarter Financial Report of 2019
COVID-19 and China
Image credit: Bartek Mazurek/Unsplash

On March 18, Bilibili (BILI:NASDAQ) announced its financial report for the fourth quarter and the full year ended  December 31, 2019. According to the report, the total revenue of Bilibili (also referred to as ‘station B’ among Chinese young users) for the fiscal year 2019 reached CNY 6.78 billion (USD 96.36 million), a year-on-year increase of 64%. The fourth-quarter revenue increased by 74% year-on-year to CNY 2.01 billion (USD 28.57 million), and the net loss was CNY 387.2 million (USD 55.03 million), an increase of 102.9% year-on-year.

Specific to various revenues, gaming business revenue reached CNY 870 million (USD 123.64 million), accounting for 43% of revenue. Revenue from live broadcast and value-added services reached CNY 570 million (USD 81 million), an increase of 183% year-on-year; advertising business revenue reached CNY 290 million, an increase of 81% year-on-year; e-commerce and other revenues were the least, but the most rapid growth was CNY 280 million (USD 39.79 million), an increase of 281%.

Concurrently, user growth and payment services have developed rapidly. In the fourth quarter of 2019, the average monthly active users were 130 million, while the mobile terminal reached 116 million, and the average daily active users reached 38 million. All these three indicators increased by more than 40% year-on-year. The average monthly paid users reached 8.8 million, a year-on-year increase of 100%; the average monthly active UP account, similar to Youtuber on Youtube, increased by 80% year-on-year.

Revenue increase and user attraction have the factor of stepping out of the existing business sectors. Station B was once regarded as a gaming company but in the past year, it explored more domestic anime, e-sports and the first New Year party in the internet industry, which attracts a lot of young users. At present, the number of broadcasts on the station has exceeded 90 million, and the number of barrages is nearly 3 million.

Apparently, Bilibili has positioned itself as more than a single gaming company compared to the past, with 2019 representing a vital transfer year. The company’s most trending affiliates include UP accounts and an influx of users from other circles (groups with the same hobby). Bilibili will establish a user community ecosystem to cover the most popular entertainment topics in the future.

ANALYST
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