Feng Huang Wang·2025-12-11 06:37Core Viewpoint - The recent rumors regarding Bilibili's (B站) subscription model have sparked significant public interest, with claims that all video content will require a paid membership starting March 1, 2026, which the company has denied as false information [1] Financial Performance - In Q3 2025, Bilibili reported total revenue of 7.69 billion RMB, reflecting a year-on-year growth of 5% [1] - The adjusted net profit for the same quarter was 790 million RMB, showing a substantial year-on-year increase of 233% [1] - Revenue from value-added services reached 3.02 billion RMB, marking a 7% increase compared to the previous year [1] Membership Statistics - As of the end of Q3, Bilibili had 25.4 million premium members, with approximately 80% being annual subscribers or users on automatic renewal [1]