哔哩哔哩-2019年Q1哔哩哔哩财报1英文-20195-27页_4mb

Investor Presentation Summary - May 2019

Core Content Overview

This investor presentation outlines Bilibili's growth and strategic direction in 2019, focusing on user engagement, revenue streams, and market position in the online entertainment industry. The document highlights the company's ability to cater to the interests of Gen Z, leveraging its diverse content ecosystem and commercialization strategies.

Key Statistics

• Revenue in 19Q1: 13.7 billion RMB
• Total Monthly Active Users (MAU): 101.3 million
• Mobile MAU: 88.6 million
• Average Daily Time Spent on Platform: 81 minutes
• Average Daily Video Views: 514 million
• Live Broadcasting Paying Users: 3.2 million
• Official Members: 49 million
• Paying User Growth: 39% YoY
• Revenue per MAU Growth: 21% YoY
• Total Net Revenue in 19Q1: 1,373 million RMB
• Net Revenue Growth YoY: 58%

Strategic Highlights

Rapid User Base Expansion

• Bilibili has experienced significant growth in its user base, which serves as a solid foundation for its revenue expansion.
• The company's user engagement is high, with a large number of users spending substantial time on the platform and showing a strong willingness to pay.

Gen Z as Key Market Force

• Gen Z, defined as those born between 1990 and 2009, represents a key driving force in the Chinese online entertainment market.
• This demographic is characterized by deep user penetration, extensive time spent on the platform, and a high willingness to pay.

Content Ecosystem

• Bilibili offers a wide array of content, including:
  • Mobile Games
  • PC Games
  • Console Games
  • E-sports
  • Talents
  • VTubers
  • Pets
  • Audios
• The company also provides Bilibili Comic and Maoer, which contribute to the user base and revenue streams.

Community Engagement

• Bilibili has fostered highly engaged and sticky communities.
• The platform supports live broadcasting, value-added services (VAS), and premium membership, all of which contribute to user retention and monetization.

Commercialization Strategies

• Live Broadcasting: A natural extension of the content platform, with high user engagement and revenue potential.
• VAS: Offers premium content and services, including:
  • Bilibili Comic: A pay-to-view comic platform
  • Maoer: A premium audio drama platform
• Advertising Revenue:
  • Brand Advertising: Targets Gen Z, a key demographic for advertisers
  • Performance-based Advertising: Customized to reach and convert target audiences effectively
• Advertising Revenue Growth: 60% YoY in 19Q1

Financial Performance

Revenue Breakdown (19Q1)

• Mobile Games: 873 million RMB (27% YoY growth)
• Live Broadcasting and VAS: 292 million RMB (205% YoY growth)
• Advertising: 112 million RMB (60% YoY growth)
• E-commerce and Others: 96 million RMB (621% YoY growth)
• Total Net Revenues: 1,373 million RMB (58% YoY growth)

Cost and Expenses

• Cost of Revenue: 1,184 million RMB (81% YoY growth)
• Gross Profit: 189 million RMB (-11% YoY)
• Operating Expenses:
  • Sales and Marketing: 182 million RMB (130% YoY growth)
  • General and Administrative: 128 million RMB (25% YoY growth)
  • Research and Development: 186 million RMB (76% YoY growth)
• Total Operating Expenses: 496 million RMB (73% YoY growth)
• Loss from Operations: 307 million RMB (313% YoY growth)
• Net Loss: 196 million RMB (238% YoY growth)
• Adjusted Net Loss: 145 million RMB (4498% YoY growth)

Balance Sheet Highlights

• Total Assets (as of 31-Mar-2019): 10,674 million RMB
• Total Liabilities: 3,735 million RMB
• Shareholders' Equity: 6,939 million RMB

Growth Drivers

• User Base Expansion: Rapid growth in MAUs and paying users
• Content Diversity: A broad range of content types and platforms
• Engagement and Retention: High user engagement and retention rates
• Commercialization: Strong performance in live broadcasting, VAS, and advertising
• Strategic Partnerships: Expansion of the OGV library and partnerships with content creators

Conclusion

Bilibili is positioned as a leading platform in the online entertainment industry, leveraging its large and engaged user base, diverse content offerings, and strategic initiatives to drive revenue growth. The company is well on track to capitalize on the growing demand from Gen Z, with a strong foundation for future success.