Bilibili Inc. · NASDAQ:BILI
Bilibili — Q1 2020 Earnings Presentation
27 slides from Bilibili's earnings presentation, May 2020
Slide 1: Investor Presentation
Investor Presentation May 2020 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 172mn 156mn 51mn 13.4mn 87mins 70% YOY 77% YOY 69% YOY 134% YOY Avg. daily time spent (1) (4) (1) (2) (1) (2) MAU Mobile MAU DAU (1) MPU (1) (3) : 3
Slide 4: Our rapid growth
Our rapid growth Rapid user base expansion lays a solid foundation for fast revenue growth MAU (mn) Net revenue (RMB mn) 172 2,316 2,008 1,859 128 130 1,538 110 101 1,374 93 93 85 1,156 77 1,079 1,027 868 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 4
Slide 5: We have captured the golden cohort in a golden industry
We have captured the golden cohort in a golden industry Massive room for growth | Gen Z: future of the entertainment market 5G adaption will revolutionize Gen Z outgrows overall how people produce and consume content China’s online entertainment market (2) Online video users in China (mn) (1) Market
Slide 6: The story
The story Efficient with tremendous upside Commercialization Ever-growing supply of Highly engaged user generated content Users and sticky Content Community 6
Slide 7: We have become the welcoming home of diverse interests
Content Community Commercialization We have become the welcoming home of diverse interests... Vlog Fashion Lifestyle Science (1) E-Sports No.1 Tech & Knowledge Game (1) (1) No.5 No.2 Electronics ACG Mobile Games Anime, Comic and Game Anime Entertainment Cosplay (1) Pop Culture (1) No.4 No.3 Chinese
Slide 8: And ever-growing supply of creative PUG videos
Content Community Commercialization …And ever-growing supply of creative PUG videos Talented Content Creators Number of Monthly Average Active Content Creators 146% 1.8mn 0.7mn Create reate Encourage 19Q1 20Q1 (1) High-quality Content Creation 91% Loyal Fan Base Number of Monthly Video Submissions t
Slide 9: Continuous support to content creators in all layers
Content Community Commercialization Continuous support to content creators in all layers VIP Service Maximize influence Power Alliances Unlock commercial value Top 100 UP Award Reward Better incentive Cash Incentive Program (250,000+ enrolled) (1) Better recognition Tutor Higher quality New Star Pro
Slide 10: Our OGV strategy: form IP assets and fuel the growth of premium members
Content Community Commercialization Our OGV strategy: form IP assets and fuel the growth of premium members 10.9mn and growing premium members (mn) Up 127% YOY 10.9 Launching 40 Bilibili produced Chinese Anime titles throughout 2020 and 2021 7.6 6.1 5.3 4.8 3.6 2.7 2.1 More offerings in documentary,
Slide 11: New Year's Eve Gala | The Most Beautiful Night of 2019
Content Community Commercialization New Year’s Eve Gala | The Most Beautiful Night of 2019 90mn+ Video playbacks (1) 3mn+ Bullet-chats (1) 5bn+ Media exposure (2) 9.1 9.3 9.9 Voted by 130+k audiences ‘This is the voice of young people. This is the voice of the generations!’ ---People’s Daily ‘Bilibi
Slide 12: We foster highly engaged and sticky communities
Content Community Commercialization We foster highly engaged and sticky communities Highly engaged users： 1.1bn avg. daily video views in Q1 113% YoY growth 4.9bn interactions (1) generated monthly in Q1 260% YoY growth Notes: (1) Interactive features such as bullet-chats, commentaries, following, f
Slide 13: We foster highly engaged and sticky communities
Content Community Commercialization We foster highly engaged and sticky communities 82mn official members (1) 80%+ 12th-month retention rate (1) (mn) 100% 82 90% 68 80% 62 54 70% 49 45 42 60% 38 35 50% 0 3 6 9 12 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 18Q1 18Q2 18Q3 18
Slide 14: Commercialization comes naturally: demand intersects with supply
Content Community Commercialization Commercialization comes naturally: massive user demand intersects with high quality supply Demand Efficient match Supply Large and engaged driven by big data insights Mobile Games user base of user interests and Advertising with behaviors Live Broadcasting strong
Slide 15: Compelling core competency of our mobile game business
Content Community Commercialization Compelling core competency of our mobile game business We have massive gamers We know what they want Ability to pick and operate User interest & behavior 1 Self developed Game is the 2nd most popular quality user data video genre on our platform 32 Exclusively dis
Slide 16: Robust game revenue growth
Content Community Commercialization Robust game revenue growth Up 32% (RMB mn) YOY 1,151 920 933 873 871 791 744 688 713 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 16
Slide 17: Value-Added Services: multi-faceted commercialization
Content Community Commercialization Value-Added Services: multi-faceted commercialization Bilibili Comic Pay to view comic platform Premium membership Live broadcasting Maoer Enjoy exclusive or advanced Natural extension of our Premium high quality content diversified content platform audio drama pl
Slide 18: VAS revenue: strong growth with great potential
Content Community Commercialization VAS revenue: strong growth with great potential (RMB mn) Up 172% YOY 794 571 453 326 292 202 169 96 119 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 18
Slide 19: Brand & Performance-based advertising: two growth engines
Content Community Commercialization Brand & Performance-based advertising: two growth engines Gen Z is the golden cohort Customized and innovative performance-based ads well chased by brand advertisers help advertisers reach and convert target audiences 19
Slide 20: Advertising revenue: strong growth with great potential
Content Community Commercialization Advertising revenue: strong growth with great potential (RMB mn) Up 90% YOY 290 247 214 168 160 137 112 96 70 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20
Slide 21: Our Financials
OUR FINANCIALS 21
Slide 22: Expanding user base drives revenue growth
Expanding user base drives revenue growth Total MAUs Diversified Revenue Mix (mn) (RMB mn) Y-o-Y Growth % 70% Y-o-Y Growth % 69% 172 2,316 2,008 1,859 128 130 110 1,538 101 1,374 93 93 85 1,156 77 1,079 1,027 868 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20
Slide 23: Rapid growth of paying users and paying ratio
Rapid growth of paying users and paying ratio Impressive growth of paying users MPU / MAU MPUs (mn) Y-o-Y Growth % 134% 7.8% 13.4 6.8% 6.2% 5.7% 5.7% 8.8 4.8% 7.9 3.8% 6.3 3.5% 5.7 3.2% 4.4 3.5 3.0 2.5 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 23
Slide 24: Cost of revenue and operating expenses
Cost of revenue and operating expenses Cost of Revenue (1) Operating Expenses (1) (Non-GAAP, RMB mn; as a percentage of revenue %) (Non-GAAP, RMB mn; as a percentage of revenue %) Gross margin % Operating expense as percentage of revenue % 14.2% 16.8% 19.2% 20.1% 23.2% 33.9% 36.3% 39.2% 38.9% 44.3%
Slide 25: Consolidated balance sheets
Consolidated balance sheets (RMB MM) Dec 31, 2019 Mar 31, 2020 Assets Cash and cash equivalents 4,963 4,445 Time deposits 1,845 1,313 Accounts receivable, net 745 585 Prepayments and other current assets 1,511 1,701 Short-term investments 1,261 2,189 Total current assets 10,324 10,233 Property and e
Slide 26: Consolidated statements of operations and comprehensive loss
Consolidated statements of operations and comprehensive loss (RMB MM, unless otherwise stated) 19Q1 19Q4 20Q1 YoY Change Net revenues Mobile games 873 871 1,151 32% Value-added services (formerly known 292 571 794 172% as Live broadcasting and VAS) Advertising 112 290 214 90% E-commerce and others 9
Slide 27: Thank You!
THANK YOU! IR Contacts Bilibili Inc. Juliet Yang Tel: +86-21-2509 9255 Ext. 8523 E-mail: ir@bilibili.com The Piacente Group, Inc. Tel: +86-21-6039-8363 (In China) Tel: +1-212-481-2050 (In U.S.) E-mail: bilibili@tpg-ir.com 27