Sony Acquires Bilibili's 4.98% Stock Share
Sony has announced that its wholly-owned subsidiary Sony USA has acquired 17.3 million shares, or 4.98% shares, of Bilibilii, which is listed in the Nasdaq Stock Market of the United States.This strategic cooperation will include songs and MV of Sony Music Entertainment which can help Bilibili to provide more comprehensive services for its users.
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Chinese Video Site Bilibili Prepares Secondary Hong Kong IPO
Bilibili, a Nasdaq-listed Chinese video platform popular with millennials for its animation and gaming content, is moving (in Chinese) ahead with plans for a secondary listing in Hong Kong next year that could raise as much as USD1.5 billion, according to people familiar with the situation.
Backed by Alibaba, Tencent and Sony, Bilibili has hired UBS, JPMorgan, Goldman Sachs and Morgan Stanley to arrange the offering.
Under the rising tension between Beijing and Washington, this video sharing platform is part of the wave of secondary IPO firms in Hong Kong or China mainland. Alibaba, JD.com and NetEase have taken this step.
Attractive to most Chinese Generation Z users, Bilibili has grown from a community consisting of comics and anime fans into a broader online entertainment platform. Live streaming, online education and knowledge and e-commerce are its new labels.
Since listing on the Nasdaq in 2018, this welcomed community's share price has quadrupled. In 2020's second quarter, its advertisement revenue increased by 108% to CNY 350 million (USD 51.54 million); games, value-added services and e-commerce increased by 36%, 153% and 58% year-on-year, respectively.
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Is Bilibili the Next YouTube in China?
BILI is one of the most popular online video platform with idiographic bullet curtain, and it has a complete generalized entertainment business ecology. The purpose of the report is to understand the business of BILIl from an investment perspective. BILI is based on two-dimension content and enriching itself to different contents that promote BILI to build a huge traffic pool with Gen Z as a core. However, confronted with the strategy of breaking circle, community culture is also a barrier of BILI.
In this report...
As content generalizes and the platform continuously breaks its circle, BILI is going towards to becoming YouTube in China. Containing ecology stability and community atmosphere are two key issues when users are rapidly growing in BILI. Breaking the circle also means more competition, but the best core competitiveness of BILI is high-quality PUGV content ecology and a well-managed community atmosphere. In the short term, BILI needs to deal with the direct competition with Xigua Video who also identifies itself as PUGV. In the long term, the positive influence of competition between TikTok and Kuaishou will provide development space for BILI.
1.BILI has the largest video producer community in China.
2. Incentive system of BILI have had a head start over most of their competitors in China
3. The offline activities and business development connection between BILI and the video producer are tighter.
4. Backed by Ali and Tencent simultaneously, which provides a good investor relationship.
1. BILI finds it hard to break through the ACG cultural circle on which it was originally based.
2. The characteristics of BILI users and the style of contents limit the advertisement business opportunity and further limit the revenue.
3. Fierce competition from BydeDance's ixigua.
We think in essence, competitions for users and time expenditure are dependent on competition of content which is the core competition in PUGC. In the future, there will not be just one platform that can work as YouTube to satisfy the content needs of people in China. For BILI, mastering the time window and continuously reinforcing the advantage of content ecology and community, as well as speeding up the accumulation of users are the core path for it to enhance its competitiveness. From the view of a longer perspective, BILI not just wants to be YouTube in China, but also wants to become a cultural brand company.
Risk tips: User growth slow down, user activity and stickiness decrease, PUGC content ecology is unstable, community atmosphere changes, commercialization progress falls short of expectations, industry competition intensifies, and content regulation risks.
Bilibili Reports Gross Profit Up 140% YoY in 2Q 2020
On August 26, Bilibili ( also called B site), China's leading entertainment platform and the site that attracts the most generation Z users, announced its financial reports for the second quarter ending June 30, 2020.
The report shows that B site's revenue reached a new high, to CNY 2.62 billion (USD 380 million), a year-on-year increase of 70%. Average monthly active users (MAUs) reached 171.6 million, representing a 55% increase from the same period in 2019. Average monthly paying users (MPUs) reached 12.9 million, a year-on-year increase of 105%.
As for revenue, Bilibili's most massive income was still mobile games, occupying 47.69% of the total revenue and increased by 36% compared to the same period of 2019. Its value-added income, including live streaming, representing 31.53% of the total income and a year-on-year increase of 153%.
B site's gross profit was CNY 604 million (USD 86 million), representing an increase of 140% from the same period in 2019.
Bilibili has evolved greatly since 2019 – from a platform famous for ACG culture previously to nowadays a place of diverse contents, including financial knowledge, makeup and lifestyle.
Bilibili Revenue Up 70%, Monthly Paying Users Up 105% in 2Q 2020
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