Video-sharing and gaming site Bilibili's Q2 results show a surge in revenue and gross profit margins, but, once again, no actual profit despite savage cost-cutting with losses around half of last year's. Daily active users are up 15 percent, spending an average of 94 minutes per day on the platform.
This year, Bilibili focused on livestreaming. Advertising revenue increased by 36 percent, with performance-based advertisements yielding a 60 percent increase and livestreaming up 32 percent. Creators making money through livestreaming and video marketing have more than trebled since last year.
Value-added services are the main source of revenue, contributing 43 percent of the total. Mobile games, previously the primary income stream, now constitute only 17 percent.
Despite more ACG mobile games since March, setbacks in game development have come through Bilibili's claims to prioritize sustainability and quality over quantity. Revenue from e-commerce was 540 million yuan (US$74 million) a 10-percent year-on-year decrease.
