Bilibili Investor Presentation: May 2026

Bilibili’s May 2026 investor presentation outlines the company’s strategic position as a leading video-centric community for China’s younger generations, emphasizing its transition toward sustainable profitability and operational efficiency. The primary thesis centers on the platform’s ability to leverage a highly engaged, Gen Z-focused user base to drive commercialization through a diversified revenue model, including advertising, value-added services, and mobile gaming.

Operational data for the first quarter of 2026 highlights consistent growth, with daily active users reaching 115 million and average daily time spent per user climbing to 119 minutes. Financial performance reflects this momentum, as the company reported a 9% year-over-year increase in gross profit to 2,773 million RMB and a 62% year-over-year surge in non-GAAP adjusted net profit to 585 million RMB. The gross margin reached 37.1%, supported by a disciplined cost structure and improved monetization of the platform’s creator ecosystem.

The company’s growth strategy relies on the "videolization" of digital consumption, targeting a demographic where 70% of China’s Gen Z+ population are active users. By fostering a sticky community characterized by 17.1 billion monthly interactions, the platform effectively converts user interest into revenue. Advertising remains a robust growth engine, posting a 30% year-over-year revenue increase, while value-added services grew by 4%. Despite a 12% decline in mobile game revenue, the company continues to focus on expanding its game portfolio with both licensed and self-developed titles to maintain its status as a premier destination for gaming content. The presentation underscores a commitment to balancing aggressive user acquisition with long-term financial health through AI-enabled algorithms and a thriving, incentivized creator network.