Station B financial report teleconference record | Chen Rui: rich content is a strong driving force for user growth

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Tencent technology news August 19 Beijing time (August 19 US Eastern time), BiliBili (NASDAQ: Bili, HKEx: 9626; Hereinafter referred to as “station B”) published the unaudited financial report for the second quarter ended June 30, 2021. According to the financial report, the revenue of station B in the second quarter reached 4.49 billion yuan, a year-on-year increase of 72%, exceeding market expectations.
After the release of the financial report, senior executives such as Chen Rui, chairman and CEO of BiliBili, Li Ni, vice chairman and coo, and fan Xin, chief financial officer (CFO), attended the financial report teleconference and answered analysts’ questions on the spot.
The following are the main contents of the analyst meeting:
Bank of America analyst: the second quarter of previous years was the off-season for user growth, but this year’s user growth performed well month on month and year-on-year. What are the specific reasons? Whether the user growth target has been updated in the second half of this year and the long-term user growth target. What is the view of the management?
Chen Rui: we did a good job in user growth in the first half of the year. First of all, we benefited from the content ecology driven model. This model is that the more users grow, the more it will reflect its competitiveness, because it is a healthy growth model in line with the essence of the content industry. Many financial analysts and investors are also users of station B. you can see that the content of station B is getting richer and richer. This is our strategy to attract users with high-quality content. We think station B will have a sustained growth in content quality and richness in the future. I think station B will often marvel that the content is getting better and better, I will be amazed that there is such content. Therefore, I think this model itself will be a very healthy model. I am confident that the continuous potential of this model will bring about continuous user growth.
As for the next user growth expectation, now Q3 has passed half. I think from the perspective of Q3, the quantity and quality of our user growth are very good. We predicted at the beginning of the year that we could achieve 260 million users this year. From the current point of view, we must be able to achieve this goal or even exceed it. In the longer term, we have also predicted that we can achieve the monthly living goal of 400 million by 2023. At present, I think we are confident to achieve this goal.
I would also like to emphasize that the biggest advantage of the current user growth of station B is the quality of user growth. We don’t deceive users, but they really recognize this famous platform and are willing to stay. We see that from the trend, although the user growth is faster and faster and the scale is larger and larger, the average daily use time of each user is also increasing, This quarter is 81 minutes.
Moreover, we can see that the long-term activity of users is also increasing. For example, the activity of users registered from 2018 to 2020 in 2021 continues to rise compared with the past. We will also announce the number of video views and user interactions every quarter, which is also higher than the growth of our Mau. This shows that after users are attracted, they can not only remain, but also become more and more active.
(constantly updating…)