B站高管解读Q1财报：B站已成全球最大中文视频语料库

Financial Performance - Bilibili reported total net revenue of 7 billion yuan for Q1 2025, representing a year-on-year growth of 24% [1] - The net loss narrowed to 10.7 million yuan, a 99% reduction compared to the previous year [1] - Adjusted net profit, not in accordance with US GAAP, was 361.5 million yuan, compared to a net loss of 455.9 million yuan in the same period last year [1] Content Strategy - The company emphasizes the importance of high-quality content, stating that the current internet landscape is saturated with video content, but users are seeking quality over quantity [2][3] - Bilibili aims to enhance its reputation as a platform for quality content, with a focus on user engagement and long-term retention [3] - The average daily user engagement reached a record high of 108 minutes, and the number of monthly paying users hit a new high of 32 million, with related revenue increasing by over 200% year-on-year [3] Content Diversification - Bilibili is expanding its content categories beyond ACG (Animation, Comics, Games) to include more lifestyle and consumer-related content [4] - The platform supports diverse revenue streams for content creators, with some smaller creators earning significant income through niche content [4] AI Integration - The company believes that high-quality content will be crucial in the AI era, as it serves as valuable data for AI applications [5][6] - Bilibili's extensive library of high-quality Chinese video content positions it well to leverage AI advancements [6] Gaming Business - Bilibili is focused on long-term operations for its games, particularly "Three Kingdoms: Strategy of the World," aiming for a stable commercial cycle of at least five years [7][8] - The company plans to launch the S8 season for "Three Kingdoms: Strategy of the World" on May 31, which will include new maps, characters, and anniversary events [9] - Bilibili is also exploring new game opportunities and has several titles awaiting approval, while continuing to support existing successful games like "Azur Lane" and "FGO" [10]