Bilibili’s average monthly active users (MAUs) reached 202 million in Q4 2020, and mobile MAUs reached 186.5 million, representing increases of 55% and 61% respectively, from Q4 2019.
Currently, 86% of Bilibili users are below 35 years old. By 2023, its MAU is estimated to reach 400 million, according to its CEO Chen Rui on its earnings conference call.
Bilibili’s average daily active users (DAUs) reached 54 million, a 42% increase from Q4 2019. And, the average monthly paying users reached 17.9 million, an 103% increase from Q4 2019.
Bilibili reported 91% YoY increase in net revenues and reached RMB3,840.1 million (US$588.5 million) in Q4 2020.
Revenues from mobile games were RMB1,129.7 million (US$173.1 million), representing an increase of 30% from Q4 2019. The increase was primarily due to the newly launched mobile games.
Live streaming and VAS revenues were RMB1,247.2 million (US$191.1 million), representing an increase of 118% from Q4 2019, mainly attributable to its enhanced monetization efforts, led by increases in the number of paying users for the premium membership program, live streaming services, and other value-added services.
Advertising revenues were RMB722.4 million (US$110.7 million), representing an increase of 149% from Q4 2019. This increase was primarily attributable to the increasing number of advertisers.
E-commerce and others revenues were RMB740.8 million (US$113.5 million), representing an increase of 168% from Q4 2019, primarily attributable to the increase in sales of products through the Company’s e-commerce platform.
Net loss was RMB843.7 million (US$129.3 million), compared to RMB387.2 million in the same period of 2019..
Basic and diluted net loss per share was RMB3.08 (US$0.45), compared to RMB1.24 in the same period of 2019. Adjusted basic and diluted net loss per share were RMB2.76 (US$0.41), compared to RMB1.05 in the same period of 2019.
As of September 30, 2020, it had cash and cash equivalents, time deposits, as well as short-term investments of RMB14.1 billion (US$2.1 billion), compared to RMB8.1 billion as of December 31, 2019.
Top traffic driver compared: TikTok/Douyin vs. Kuaishou vs. Bilibili vs. RED
Bilibili in 2020
Total net revenues increased to RMB12.0 billion (US$1.8 billion), representing an increase of 77% from 2019.
Revenues from mobile games increased to RMB4.8 billion (US$736.2 million), representing an increase of 34% from 2019. The increase was mainly attributable to the increasing popularity of the newly launched mobile games.
Revenues from Live broadcasting and VAS were RMB3.8 billion (US$589.4 million), representing an increase of 134% from 2019.
Revenues from advertising increased to RMB1.8 billion (US$282.4 million), representing an increase of 126% from 2019. This increase was primarily attributable to further recognition of Bilibili’s brand name in China’s online advertising market as well as improvement of our advertising efficiency.
Revenues from e-commerce and others were RMB1.5 billion (US$231.0 million), representing an increase of 109% from 2019, primarily attributable to the increase in sales of products through the Company’s e-commerce platform and licensing of content.
Cost of revenues increased by 64% to RMB9.2 billion (US$1.4 billion), compared to RMB5.6 billion in 2019. Revenue-sharing cost, a key component of cost of revenues, was RMB4.4 billion (US$669.2 million), representing an increase of 75% from 2019.
Gross profit increased to RMB2.8 billion (US$435.3 million), representing an increase of 139% from 2019.
Total operating expenses. Total operating expenses increased to RMB6.0 billion (US$916.7 million), representing an increase of 123% from 2019.
Sales and marketing expenses were RMB3.5 billion (US$535.2 million), representing a 191% increase year-over-year.
Research and development expenses were RMB1.5 billion (US$231.9 million), representing a 69% increase year-over-year. The increase was primarily due to increased headcount in research and development personnel, increased share-based compensation expenses and other research and development expenses.
Loss from operations was RMB3.1 billion (US$481.4 million), compared to a loss of RMB1.5 billion in 2019.
Income tax expense was RMB53.4 million (US$8.2 million), compared to RMB35.9 million in 2019.
Net loss was RMB3.1 billion (US$468.0 million), compared to RMB1.3 billion in 2019.
Adjusted net loss, which is a non-GAAP measure that excludes share-based compensation expenses, amortization expense related to intangible assets acquired through business acquisitions and income tax related to intangible assets acquired through business acquisition, was RMB2.6 billion (US$401.9 million) compared to RMB1.1 billion in 2019.
Basic and diluted net loss per share were RMB8.71 (US$1.33), compared to RMB3.99 in 2019. Adjusted basic and diluted net loss per share were RMB7.46 (US$1.14), compared to RMB3.30 in 2019.
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