Video-streaming platform Bilibili pins hopes on content diversity to double active users to 400 million
- The Shanghai-based video-streaming platform is holding fast to its strategy of hosting professional content creators
- Chief executive Chen Rui calls the lacklustre stock debut in Hong Kong a ‘black swan’ event
Video-streaming and mobile gaming site Bilibili said it would hold fast to its strategy of providing diversified content and videos generated by professional users to achieve its target of 400 million monthly active users.
Despite competition from the likes of Kuaishou and Douyin, the Chinese version of Tiktok owned by unicorn ByteDance, Chen said the target for 2023 is unlikely to be derailed.
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Chen initially touted the monthly active users (MAU) target during the Nasdaq-listed company’s fourth quarter earnings call in February.
As the second Chinese short-video platform to list in Hong Kong after Kuaishou, investors are watching closely how the two Chinese media giants could ultimately funnel user growth through to their bottom line. However, on Monday Chen stopped short of giving a clear timeline for when the company could turn profitable. Bilibili’s 2020 full year net loss widened to 3.1 billion yuan (US$473 million), from 1.3 billion yuan a year ago. It recorded a 13 straight quarter in the red.