Alibaba-backed Bilibili sees ecommerce revenue surge
kr-asia, Wednesday, May 15, 2019
Chinese youth-orientated video-streaming platform Bilibili saw ecommerce revenue power ahead by 621% y-o-y in its first quarter, reaching CNY95.9 million (USD14 million). Overall revenue came in at CNY1.37 billion (USD0.2 billion), showing how crucial online retail has become for the business since receiving backing from Taobao late last year.
Average monthly user numbers were up 31% to reach 101.3 million while monthly paying subscribers accelerated 132% to reach 5.7 million. Losses, however, widened from CNY57.8 million (USD8.5 million) a year ago to CNY195.6 million (USD29 million) in Q1 as investments in infrastructure and user acquisition took a toll.