BILI Latest Report

Financial Performance

Bilibili's operating revenue reached US$7.734 billion as of December 31, 2024, up 21.76% from US$6.349 billion as of December 31, 2023. This growth indicates significant progress in revenue generation, possibly due to user growth, content richness, and optimized marketing strategies.

Key Financial Data

1. Operating revenue: US$7.734 billion, up 21.76% YoY.

2. User growth: Daily active users (DAU) reached 107.3 million, and monthly active users (MAU) were 348 million.

3. Daily video views grew 23% YoY to 570 million.

4. Average user session length increased by 6 minutes to 106 minutes compared to the same period last year.

5. Content diversification: 43 new anime works and the new game "Three Kingdoms: Strategize the World" were introduced.

6. Market promotion had a significant effect, enhancing user stickiness and activity.

Peer Comparison

1. Industry-wide analysis: In the digital content and video platform industry, the overall revenue growth trend is obvious, with an estimated overall revenue growth rate of 15%-20% in 2024. Bilibili's 21.76% growth rate is higher than the industry average, indicating enhanced competitiveness in the industry.

2. Peer evaluation analysis: Compared with Kuaishou and Douyin, Bilibili's revenue growth rate is at the forefront. Kuaishou and Douyin's revenue growth rates in 2024 are 18% and 16%, respectively, indicating that Bilibili's performance in user acquisition and content innovation is relatively superior.

Summary

Bilibili's financial performance in 2024 is strong, with revenue growth mainly driven by the expansion of its user base and the improvement of content diversity. The success of its marketing strategies also supports its growth. Moreover, Bilibili still managed to achieve growth above the industry average in a competitive industry environment, demonstrating its good market positioning and brand influence.

Opportunities

1. Continue to expand its user base, especially among young users, which will further drive revenue growth.

2. Enrich the content ecosystem by launching more original and diverse content to attract users and enhance the platform's appeal.

3. Leverage new technologies such as generative artificial intelligence (AIGC) to improve content production efficiency and quality.

4. Explore emerging markets such as live e-commerce and content e-commerce to diversify revenue sources.

Risks

1. Increased competition in the industry, especially from rivals such as Kuaishou and Douyin.

2. User growth may be affected by macroeconomic fluctuations and market saturation.

3. Changes in policy regulations may impact the development of the digital content industry, requiring close attention to industry policy dynamics.

4. Insufficient content quality and diversity may affect user retention and activity.