Bilibili is transforming into China’s YouTube as dedicated ‘uploaders’ look beyond niche anime, comics and games
- Users known as ‘uploaders’ are the lifeblood of Bilibili, helping it maintain appeal among avid fans as Tencent Video, iQiyi and Youku chase films and TV shows
- Content creators who have stuck with Bilibili say it is because of its supportive community and more interactive features
Given its origin as a niche streaming site for fans of anime comics and games (ACG), Bilibili’s success has been a surprise for many. But behind the company’s rapid rise is a group of dedicated users known as “uploaders” who create content for the platform, helping turn it into China’s YouTube.
A unique combination of original features and an avid fan base has helped make Bilibili the go-to platform for many content creators. This has made the company a big success, both with its users and with Wall Street. Since going public on the Nasdaq in early 2018, Bilibili’s share price has increased more than tenfold. The Shanghai-based company is now seeking to further capitalise on its success by raising US$3 billion with a second listing in Hong Kong, joining other Chinese tech firms that have recently sought to tap into investors’ appetite for such stocks.
The company’s growth does not mean profit, however. Bilibili has been in the red for 13 consecutive quarters, with losses of 844 million yuan (US$130.7 million) in the fourth quarter, more than twice the losses from a year earlier. For the company’s backers – which include Sony, Tencent Holdings and Alibaba Group Holding, the owner of the South China Morning Post – burning cash in the pursuit of new users and content is just part of betting on China’s future. The average Bilibili user is just 21 years old, potentially giving it an advantage for future growth in a country with a median age approaching 40.
Among these young, dedicated users is Chen Pinsen, an uploader who started in 2016, when he was still in high school. On the day he turned 17, he used a 30-yuan microphone to create a video tutorial that he later published on Bilibili.
“I wanted to add something to my birthday and do something meaningful,” Chen said.