Bilibili Inc. · NASDAQ:BILI
Bilibili — Investor Presentation (November 2024)
30 slides from Bilibili's investor presentation, November 2024
Slide 1: Investor Presentation
Investor Presentation November 2024 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “antici
Slide 3: Enrich the everyday life of young generations in China
Enrich the everyday life of young generations in China 107mn 348mn 30mn 106 mins DAUs (1) (2) MAUs (1) (2) MPUs (1) (3) Avg. daily time spent (1) (4) :
Slide 4: Operational Highlights: Rapid Growth of DAUs and Daily Time Spent
Operational Highlights: Rapid Growth of DAUs and Daily Time Spent DAUs Average Daily Time Spent Per User (mn) (mins) 107 106 103 100 96 90 88 81 72 53 20Q3 21Q3 22Q3 23Q3 24Q3 20Q3 21Q3 22Q3 23Q3 24Q3 4
Slide 5: Financial Highlights: Improving Margins and Profits
Financial Highlights: Improving Margins and Profits Gross Profit Net Profit / (Loss) (1) (RMB mn) (Non-GAAP; RMB mn) YOY 76% GPM 34.9% 236 29.9% 28.3% 26.1% 2,547 25.0% 1,833 1,660 (271) 1,605 1,450 (456) (556) (863) 23Q3 23Q4 24Q1 24Q2 24Q3 23Q3 23Q4 24Q1 24Q2 24Q3 Note: 5 (1) Excluding share-based
Slide 6: Golden Opportunity from Videolization
Golden Opportunity from Videolization Video becomes fundamental to information, entertainment and communication Massive Video-Based Industry(1) More Time Spent(2), More Spending(3) (RMB bn) (Hours per day) (RMB) Infrastructure 2,940 AI, 5G, and various 5,076 video production tools +27% 5.7 2.4x 4.5
Slide 7: Our Unparalleled Leadership in Gen Z+
Our Unparalleled Leadership in Gen Z+ The golden cohort and future of the video-based industry Unparalleled leadership in China’s young generation High-quality user base with strong consumer buying power 49% of our users are female with higher interest in commercial contents(1) 52% of our users live
Slide 8: The Story
The Story User-centric with massive opportunities Commercialization Highly engaged, Ever-growing ecosystem Users centered around PUGV Aspiring and interactive and sticky fast growing Content Community 8
Slide 9: Multi-Categories for Diverse Content Interests
Content Community Commercialization Multi-Categories for Diverse Content Interests Leading categories Emerging categories Our leading content categories continue to bring natural Emerging content categories reflect the evolving interests of Gen Z+, traffic and retain users on our platform attracting
Slide 10: Multi-Scenarios for Different Viewing Preferences
Content Community Commercialization Multi-Scenarios for Different Viewing Preferences Total time spent (1) On-the-go Interactive Living rooms 10% 23Q3 24Q3 Average daily video views Story Mode for fragmented time is 23% quickly gaining popularity Story Mode & PUGV and OGV contributing incremental tr
Slide 11: Robust Mechanism Attracts and Supports Content Creators
Content Community Commercialization Robust Mechanism Attracts and Supports Content Creators 2.7mn +24% +37% +74% content creators content creators’ total income number of content creators earned number of content creators earned received income on Bilibili(1) from advertising and VAS(2) through Spar
Slide 12: Highly Engaged and Interactive Community
Content Community Commercialization Highly Engaged and Interactive Community Interactive Features Frequently Engaged by Our Users One Click Triple-Function Combo Coin- Add to Bullet-chat Commentary Share Following Virtual Fan Moment Like Gifting Charging casting Favorite Highly Engaged Highly Intera
Slide 13: Highly Sticky Community with a Strong Sense of Belonging
Content Community Commercialization Highly Sticky Community with a Strong Sense of Belonging 251mn official members(1) ~80% 12-month retention rate(1)(2) (mn) 100% 12% YOY 80% 251 243 236 60% 230 224 40% 20% 0% 0 3 6 9 12 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 23Q3 23Q4 24Q1 24Q2 24
Slide 14: Commercialization Comes Naturally Around Users’ Interests
Content Community Commercialization Commercialization Comes Naturally Around Users’ Interests Users’ diverse, expanding interests Desired content and services fulfilling needs Create significant potential for monetization VAS Advertising AI-enabled algorithms Mobile IP Derivatives Games and Others B
Slide 15: Value-Added Services: Multi-Faceted Commercialization
Content Community Commercialization Value-Added Services: Multi-Faceted Commercialization Our additional unique value-added services Maoer Premium audio drama platform Bilibili Comic Pay to view comic platform Premium course Paid course for more structured learning Avatar decoration Enable personali
Slide 16: Value-Added Services: Multi-Faceted Commercialization
Content Community Commercialization Value-Added Services: Multi-Faceted Commercialization (RMB mn) 9% YOY 2,857 2,821 2,595 2,529 2,566 23Q3 23Q4 24Q1 24Q2 24Q3 16
Slide 17: Advertising: Bilibili is Becoming a Go-To Platform for Advertisers
Content Community Commercialization Advertising: Bilibili is Becoming a Go-To Platform for Advertisers N-reach brand ads Customized and innovative Performance-based ads native ads with sales conversion add-on 17
Slide 18: Video and Live Commerce: A New Growth Driver Integrating Content with Ads
Content Community Commercialization Video and Live Commerce: A New Growth Driver Integrating Content with Ads 150%+ YOY Total GMV from video and live commerce during Double 11 shopping season(1) Notes: Video commerce ad products Live commerce ad products (1) 14/10/2024-11/11/2024 18
Slide 19: Advertising Revenues: Robust Growth with Great Potential
Content Community Commercialization Advertising Revenues: Robust Growth with Great Potential 28% YOY (RMB mn) 2,094 2,037 1,929 1,638 1,669 23Q3 23Q4 24Q1 24Q2 24Q3 19
Slide 20: Top Game Content Community with Strong Operation and Distribution Capabilities
Content Community Commercialization Top Game Content Community with Strong Operation and Distribution Capabilities Exclusive licensed games Jointly operated games Go-to video community for gamers Game-related content is 2nd most popular PUGV genre Most popular live broadcasting genre (1) (2) 40%+ DA
Slide 21: A Long-term Opportunity: Reinventing Games for the New Generation of Gamers
Content Community Commercialization A Long-term Opportunity: Reinventing Games for the New Generation of Gamers San Guo: Mou Ding Tian Xia SLG games: a massive market opportunity RMB70bn+ market size of global SLG mobile games in 2023 (1) Tens of millions of existing SLG gamers in China Peer g
Slide 22: Mobile Game Revenues Resumed Strong Growth
Content Community Commercialization Mobile Game Revenues Resumed Strong Growth 84% YOY (RMB mn) 1,823 992 1,007 983 1,007 23Q3 23Q4 24Q1 24Q2 24Q3 22
Slide 23: Our Financials
bili OUR FINANCIALS
Slide 24: Robust Growth Driven by Diverse Revenue Mix
Robust Growth Driven by Diverse Revenue Mix 26% (RMB mn) YOY 7,306 8% 6,349 6,127 5,805 9% 5,665 8% 25% 10% 9% 16% 17% 17% 17% 30% 29% 33% 28% 29% 45% 45% 42% 38% 45% 23Q3 23Q4 24Q1 24Q2 24Q3 VAS Advertising Mobile games IP derivatives and others 24
Slide 25: Improving Cost Structure and Gross Margin
Improving Cost Structure and Gross Margin Cost of Revenues (as a percentage of revenue %) 34.9% GPM 29.9% 28.3% 26.1% 25.0% 7% 7% 8% 8% 7% 22% 19% 24% 22% 25% 45% 40% 42% 40% 41% 23Q3 23Q4 24Q1 24Q2 24Q3 Revenue-sharing costs (1) Content, server and bandwidth, staff costs (2) (3) (4) IP derivatives
Slide 26: Improving Operating Profits
Improving Operating Profits Operating Expenses(1) Operating(Loss)/Profit (1) (Non-GAAP; as a percentage of revenue %) (Non-GAAP; RMB mn) 38% 38% 36% 35% 32% 272 14% 11% 16% 15% 13% 5% 5% (284) 5% 5% 6% (512) (635) 18% 16% (755) 17% 16% 17% 23Q3 23Q4 24Q1 24Q2 24Q3 23Q3 23Q4 24Q1 24Q2 24Q3 Sales and
Slide 27: Improving Cash Flow
Improving Cash Flow Operating cash flow (RMB mn) 2,226 1,751 640 638 277 (21) 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 We have a sufficient cash balance(1) of RMB15.2 billion as of the end of 24Q3. Note: 27 (1) Including cash and cash equivalents, time deposits and short-term investments
Slide 28: Consolidated Balance Sheets
Consolidated Balance Sheets (RMB mn) Dec 31, 2023 Sep 30, 2024 Assets Cash and cash equivalents 7,192 7,463 Time deposits 5,195 3,531 Restricted Cash 50 50 Accounts receivable, net 1,574 1,517 Prepayments and other current assets 2,063 1,886 Short-term investments 2,653 4,240 Total current assets 18
Slide 29: Consolidated Statements of Operations and Comprehensive Loss
Consolidated Statements of Operations and Comprehensive Loss (RMB mn) 23Q3 24Q2 24Q3 YoY Change Net revenues Value-added services 2,595 2,566 2,821 9% Advertising 1,638 2,037 2,094 28% Mobile games 992 1,007 1,823 84% IP derivatives and others 580 517 568 -2% Total net revenues 5,805 6,127 7,306 26%
Slide 30: Thank You
THANK YOU BILIBILI Investor Relations IR Contacts: IR Mini Program BILIBILI Inc. Juliet Yang Tel: +86-21-2509-9255 Ext. 8523 E-mail: ir@bilibili.com IR Website Piacente Financial Communications https://ir.bilibili.com Tel: +86-10-6508-0677 (In China) Tel: +1-212-481-2050 (In U.S.) E-mail: bilibili@t