Bilibili deep-dive

Bilibili will grow its user base through increased spending on sales and marketing, new professional content, games and esports content. A steady stream of creators will emerge who will be nurtured and retained by the platform. Bilibili’s professional content acquisition in anime and games yields a steady stream of hits; this increases the number of paying users and also ARPU. The community continues to be a moat and allows Bilibili to acquire and retain users at a lower cost than its competitors. Advertisers flock to Bilibili's attractive base; their spend on native advertising generates a cohort of middle-class Bilibili creators. As Gen Z hit their earning stride, ARPU on the platform increases through premium advertising and sales of higher GMV items such as financial products, cars and home furnishing to name a few new avenues.