Stepping on the tail of November, Bilibili handed over its "transcript" for the third quarter of 2023.
The financial report shows that the total revenue of Bilibili in the third quarter reached 5.81 billion yuan, which is the same as the same period in 2022; The net loss was 1.3 billion yuan, a 22% decrease from the same period in 2022; The adjusted net loss was approximately 864 million yuan, a decrease of 51% year-on-year.
Specifically, in the third quarter, advertising and value-added services became the "main force" in Bilibili's revenue growth. The total advertising revenue of Bilibili in this quarter reached 1.64 billion yuan, a year-on-year increase of 21%; The revenue from value-added services reached 2.6 billion yuan, a year-on-year increase of 17%; The gaming business achieved revenue of 990 million yuan in the third quarter, a decrease of 33% compared to the same period in 2022.
As the largest gathering place for young people in China, Bilibili's daily active users exceeded 100 million for the first time in this quarter. The data shows that the daily active users of Bilibili increased by 14% year-on-year in the third quarter, reaching 103 million; The average monthly active users reached 341 million, and the average daily usage time of users exceeded 100 minutes for the first time.
In the first half of this year, the controversy over Bilibili's UP master shutdown sparked heated discussions. At that time, during the first quarter financial report conference call, Bilibili Chairman and CEO Chen Rui mentioned that making UP masters earn money was the company's top priority. In the third quarter, 1.68 million UP owners earned revenue on Bilibili, a year-on-year increase of 34%. Among them, the number of UP owners who earned revenue through video and live streaming sales increased by over 160% year-on-year.
Chen Rui said, "In the third quarter, the growth of communities and the improvement of commercialization efficiency directly drove the rapid increase in advertising and value-added service business revenue, with year-on-year growth of 21% and 17% respectively. At the same time, the company's gross profit margin also increased from 18% in the same period last year to 25%. It is worth mentioning that in a challenging market environment, Bilibili achieved positive operating cash flow this quarter."