The New Year Event Attracts 250 Million Viewers
CNBC reports that the video platform is preparing for a scenario that will see the company raise more than previously anticipated. The filing at the Hong Kong exchange is likely to take place at the end of this week or early next week.
However, the pricing details won’t be included in the filing but are expected to be announced in the coming weeks. Bilibili has made great success in China and the startup was initially backed by Tencent, Alibaba, and Sony.
Bilibili’s stock price also received a major boost after the platform attracted 250 million viewers during its New Year’s Eve gala event, officially called “The Most Beautiful Night of 2020.” The event consisted of three-chapters and took about four hours to complete.
Earlier, Bilibili reported that average monthly active users (MAUs) rose by 54% to 197.2 million, while average daily active users (DAUs) soared by 42% to 53.3 million, representing a 54% and 42% year-over-year (YoY) increase, respectively, in the quarter to end-September.
“Our effective user growth strategy and expanding content library helped us to reach an even broader audience. In August, our MAUs exceeded 200 million, marking a new monthly record. This milestone is just the beginning. We envision that the inevitable video-lization trend will lead to great opportunities for Bilibili to grow and expand as the go-to platform for online content in China,” said Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili.
“As we leverage our core capabilities in providing engaging content and community experience, we are committed to further improving our brand equity and capturing this market opportunity. We believe the investments we are making now to increase our stronghold in China’s entertainment market will yield considerable and sustainable return in the long run.”
Earlier this year, the business was valued at around $8 billion after Sony acquired a 4.98% stake in the platform for $400 million. Bilibili’s share price rose north of 350% in 2020.
Building on the recent success, China-based video platform Bilibili expects to raise more than $2 billion in Hong Kong secondary listing. “The Most Beautiful Night of 2020” — a four-hour online event that took place on December 31 — attracted 250 million viewers.
About the Author
Mariliana has an MSC in consumer analytics and business strategy. She has a special interest in fast-moving industries and big data.