Bilibili Announces 41 Percent Increase in Daily Active Users

Bilibili (NASDAQ:BILI), gaming entertainment platform in China announced its unaudited second quarter financial results. The company reported a 50 percent increase in year-over-year net revenues, as figures climbed to US$224 million. Growth in average monthly active users (MAU) rose 30 percent during the same time period, rising to 110.4 million MAU. In line with this, daily active users growth surged, rising at a 41 percent clip since the second quarter 2018.

As quoted in the press release:

“We were excited to celebrate Bilibili’s 10-year anniversary in June, which was punctuated by strong second quarter results that demonstrate the type of growth we strive to achieve,” said Mr. Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili. “In the second quarter, we added 9 million MAUs sequentially, the highest net addition since 2017, bringing our total MAUs to 110.4 million, representing 30% growth year-on-year. Paired with strong user growth, our community is becoming more active and engaged. Our DAUs grew 41% year-on-year in the second quarter, reaching a record 33.2 million and outpacing our MAU growth. As we move into the summer months, we are delighted to see this momentum continue. Looking ahead, our strategic initiatives are designed to accelerate our targeted user acquisition efforts, enlarge our user base, enhance our content, and enrich our community to fuel our monetization.”

Mr. Sam Fan, Chief Financial Officer of Bilibili, said, “High user growth and increased revenues marked our second quarter. We are pleased to once again surpass the high-end of our guidance with an even more balanced revenue mix. Our non-game revenues grew by 162% while non-game revenues per MAUs increased by 102%, year-on-year. As our monetization efforts progress, we continue to convert more online traffic to paying users. In the second quarter, the number of MPUs on our platform more than doubled compared to the same period last year, reaching 6.3 million. Our gross margin also improved to 16.4% from 13.8% sequentially. As we move forward with our growth plan, our focus will be on obtaining high quality growth while securing adequate return on our investments.”

Click here to read the full press release.