Reporter Li Haoyue from this newspaper
On November 29th, Bilibili released its financial report for the third quarter of 2023. In this quarter, Bilibili's revenue was 5.81 billion yuan, with advertising revenue increasing by 21% year-on-year, reaching 1.64 billion yuan. The proportion of Bilibili's overall revenue increased from 23% to 28%, driving the overall gross profit of the company to increase. Meanwhile, Bilibili also achieved positive operating cash flow in this quarter.
Against the backdrop of the third quarter being the off-season for the e-commerce industry, Bilibili's e-commerce advertising revenue increased by over 90% year-on-year, while vertical industries such as automobiles and healthcare saw a month on month growth of over 20%. In terms of platform technology capabilities, Bilibili continuously explores the commercial value of scene traffic, and in the third quarter, the revenue from effective advertising increased by over 40% year-on-year, becoming the main driving force of advertising business.
Li Ni, Vice Chairman and COO of Bilibili, introduced that during this year's Double 11, the advertising revenue of Bilibili's top e-commerce platforms increased by over 80% year-on-year. The advertising revenue generated by the "Spark Plan" in cooperation with Alibaba increased by 160% month on month compared to the "618" period. Among the more than 70 brands we have collaborated with, the new customer rate has exceeded 50%. In the future, Bilibili will continue to adhere to the "Big Open Loop" strategy, launch the "Jinghuo Plan" for cooperation with JD.com, and deepen cooperation with major e-commerce platforms.
Li Ni mentioned that the commercial value of Bilibili content lies in its ability to deeply influence the consumer mentality of users. Based on this, four things will be done in the future to continuously increase the advertising revenue of Bilibili. One is to firmly rely on brand advertising as the foundation, leverage the original advertising of UP owners, and use effect oriented advertising as the accelerator for revenue; The second is to upgrade the overall advertising model, help customers construct content and brand assets on Bilibili, and establish a measurable long-term monetization model; The third is to adhere to improving advertising scenarios, finding new scenarios that are suitable for different advertising strategies, collaborating natural traffic and commercial traffic, and improving traffic monetization efficiency; The fourth is to return to customer needs, focusing on four major needs: new product launch, brand aging, transaction conversion, and node marketing, to help customers build effective scenarios.