Earnings call transcript Q4 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to Bilibili Fourth Quarter and Fiscal Year 2022 Financial Results and Business Update Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Juliet Yang, Executive Director of Investor Relations. Please, go ahead.

Juliet Yang

Thank you, operator.

discuss outlook we'll statements. make call, this our and business forward-looking During comments predictions our based expectations These on today. and are as of or of Hong Exchange. most risks recent materially Kong differ uncertainties, including news Stock this results with in mentioned and due events our mentioned discussion number today's in release the from a to filing those in and Actual those could SEC and

for are comparison and The in purpose Definition provide non-GAAP financial we measures table measures of release a news are reconciliation today. available we the these earlier only. issued

reminder, As conference a this recorded. call is being

an webcast call Bilibili conference presentation addition, In on website IR investor and replay of the available be a this ir.bilibili.com. at will

Executive from are Fan, Vice senior management Li, today and Chairman Chairwoman Mr. of us the of Officer. Operating Financial Bilibili Sam Ms. and Mr. Officer; Officer; and Board Carly Chen, Joining Chief Chief Chief Rui the Board

to the Mr. And call the who over I of behalf Fan, on read now will Chen. remarks Mr. will turn prepared

Sam Fan

Thank thank you, and participating Mr. and call. fourth behalf for you, today's remarks Juliet. XXXX I'm on fiscal financial conference results opening operating of And to in quarter deliver year Chen. our pleased everyone,

ourselves and paradigm. In our we adjusted better new our the strategies proactively to goal align XXXX, with industry reprioritize

we to to on our Specifically, placed fronts. DAU beginning focus how reach progress two profitability, our growth and on these

community we in foundation of a the ties focusing growth, to potential. with our remain platform, DAU higher-quality are bringing First, monetization our our users engagement closely and users By on to more their which business. our

time our user platform DAU daily year-on-year. on year. XX%, our same up ratio XX% to time XX XX% period total average million, last In platform, spend reached driving XX% a spent in QX, This from to up increased MAU the minutes, our per our brought the year-on-year. by XX on to The meaningful improvement DAUs

marketing spending. DAUs commercial to with continue and cumulate our support our offerings with prospects and controlled algorithms product further sales will optimized We and

improved bring we reduction our our measures to profitability. Second, elevated and to cost closer of us commercialization efficiency goal

RMBXX.X revenues revenues the for year-on-year. were net net and billion, RMBX.X XXXX total Our QX total were billion, up X% for

improved QX in in gross compared Our with the XX% previous margin XX% quarter. to

to continue our efficiency. and organization our control improve measures expenses, We to take

cut year-on-year. first and we marketing marketing the expenses of by from in the percentage Specifically, sales same net in as period a to the year and revenues quarter, Sales last XX% XX% fourth expenses total in XX% quarter. reduced

We our have also underperforming noncore streamlined business. trimmed and our personnel and

our in quarter-on-quarter. narrowed first As non-GAAP and a loss XX% the net quarter result, XX% year-on-year by

goal more move XXXX, is operational a As to efficient we become our through company.

our centralize We but less, will resources to focus more on tasks. important

breakeven plan tightening our Specifically, our our grow by actions. achieve to we the We are believe, right improving on on track and our margin to we gross executing DAUs, these are And expenses. to we XXXX. continue target

our approach brief on I'd of content, overview three core content. progress, our to with strategic community and the update of commercialization. that Starting now like and With provide a pillars

year quarter, content more ecosystem ago. the content same Creator most is asset. million our fourth ever-growing a X.X submitted platform In XX% monthly the Our more period with year-on-year, started. creators, valuable million provide than will XX.X [ph] what the hosts easy-to-use we tools more users get their both creator basis. into a creation, turn videos, up XX% to on them To to ideas our encourage

creators. long-tail will more traffic same the be towards time, led At mid and

both into content engagement. our Our user and is attracting to more to the are content scenarios turn creators, more traffic Bilibili. driving offerings goal users Expanded also

the daily views by year-on-year by were up videos first billion. XX% increased video year-on-year, fourth particular, quarter. more the XX% quarter, to total storing in In XXX% X.X increased PUGV daily video For daily views while views

channels for us platform integrated us allowed to our potential, and user market, To commercial commercial created time further various our through pursue. monetization broadening video and advertising more vertical Over multiple our immersive has DAUs, QX, channels XX% has to spent Bilibili increasing the combination for earn content in opportunities up unlock on channels opportunities ecosystem. we content X.X expand mode Story in on our year-over-year. our income million the The creators within opening content commercial into creators. XXXX, more

also our inclusive and increased rate the at year-on-year And of on quarter, by users members tighter the the core and exceed Looking quarter, time for XX% spend between XX-month average up Monthly our tools our bond community, the XX.X fourth official fourth Bilibili number of the our XX to committee risk reached minutes. retention our continued million user's in billion. year-on-year community, their interaction members XX% to environment are $XXX daily XX%. creating In interactions and reached platform.

Now, let's how moving and think forward. it progress we about review our commercialization

For RMBXX.X up year the total revenues net reached quarter, grew full XX% year-over-year to billion. RMBX.X X% our by our fourth billion, revenue and

at now are level. and our the improving margin We more commercialization focused improving on gross our specifically company on efficiency

of color to commercial each Now, our share on lines. I'd like more business

and our from First, VAS year, quarter respectively. billion for the and RMBX.X up business. for year-on-year, the fourth XX% XX% billion was RMBX.X Revenues VAS

particular, growth. Live shown solid broadcasting, in has

For XX%. XXXX, revenues from live broadcasting increased by over

video integrate strategy our and more optimize has users, revenue video converting creators to sharing broadcasting ecosystem prompted universe. live has to into to within structure helped Our penetrate our paying This broadcasting organically. tap live more users,

grew a over of XX% increased by number live MPUs monthly active XX%, over basis. the quarter, year-on-year fourth broadcasting broadcasting for both holds the by In and live on

one our revenue ahead, live continue of will growth to primary be drivers. Looking broadcasting

live revenue optimize improve to our broadcasting further margin. expect ratio gross and We sharing

period, total multiple including period, launched By of the premium We million titles XX.X the a had fourth memberships. premium anime [Foreign million Language]. during X anticipated highly quarter, the Chinese the end added the we of prior from nearly members reaching

anime, XXXX, Yao Chinese hit, million platform. style smart our January folktale traditional graphic over on Chinese our Language] a views video co-produced become [Foreign In XXX generating

in to advertising in continue by RMBX.X for billion share Advertising and gain were XXXX. QX. up RMBX.X As XX%, our XXXX market revenues arm, we reached in billion

more care XXXX, conversion we our our were viewing modules the e-commerce, up and home automotive, opened quarter sales we first in mode scenarios higher and advertising verticals proven and and success scenarios. and In video ads mobile improved products, ecosystem various opportunities to in digital The top-performing cosmetics. games, carry further performance-based embrace Our skin has ROIs. introduced across story new in appliances,

In the by over XX% performance-based grew revenue our ad year-on-year. quarter, fourth

as our such have to mature getting addition, allocated and more In the needs budgets attract advertisers home also into and stages, ad automotive users as platform. been consumption new our and life appliance their new

XXXX. into Moving

and added content further ecosystem. in We our will ad within invest continue integrate our capabilities to infrastructure improve and our

for and Turning into GaN, revenues billion RMBX.X the quarter. for were RMBX billion fourth year the

the globally. committed We are to distributed strategy development of in-house

to align with game goal. development In this QX, our effectively we restructured

of total eliminate centralize on resources game experts. and In we projects self-development self- contributed to our already we underperforming development are Specifically, games our focus our general X% revenues. where XXXX,

this expand in continue expect we ratio We XXXX roll as self-development will out to more game.

exclusively planning quarter two as year. at self-development as six the pipeline, launch second are [indiscernible] Looking our titles of this to games well licensed in we

engage opportunities market. As game the license approvals have domestic expect gradually in resumed we more in in to China,

investing new and margin will Throughout improve to summary, our In continue will we operations. to the to our industry gross execution grow tighten centralize our this our efficient narrow increase for dynamics more our selectively losses. process, R&D resources DAUs, commercialization call and we In spending XXXX, our while strengthen efficiency. our continue will

With to more stronger, track and goals place, reach become resilient our on in efficient a financial believe, these right measures organization. we and are the we

now remarks. Mr. quarter I provide for financial concludes of year fiscal Chen's overview brief for XXXX of results outlook This a XXXX. the our will of and fourth the

earlier XXXX our For year today. issued a press release see review please of results, our fiscal

fourth the for revenues X.X up quarter same net Total the X% billion, were from period XXXX. RMB

revenue were XX% and business. by net approximately XX% advertising, our VAS, streams total and other revenues breakdown XX% mobile for XX% games Our e-commerce

RMB Cost of revenues X.X increased year-over-year by X% billion. to

X.X and up first X. our gross in was percentage quarter profit gross X sequentially. XX.X%, margin billion, RMB Our the points was

up With from expenses structure, expect improvement to throughout our were X.X tightly XXXX. XXXX. in operating the cost controlled RMB billion, show margin period continued same we XX% Total

As year-over-year. while our in year-on-year because and keeping also prospects, by marketing billion, work sales RMB are on QX lean X.X we DAU expenses structure, grew increasing to commercial XX% by XX% cost a we

percentage total year. expenses revenues, also XX% marketing XX% period as a compared to and Sales last was to of in same the down

solid will XXXX. in while control We marketing growth to and delivering continue our expenses sales DAU

G&A million expenses increase surveillance our was The paid XX% to XXX million, XXX the primarily related one-off of to RMB year-over-year. due up were organizational RMB restructuring.

was R&D projects. million XXX to expenses which was R&D year-over-year, and representing personnel primarily RMB RMB game one-off a XX% an due increase our X.X billion, certain of increased cost related consolidation to

our As additional decline to operational expenses. we will actions in operating our reduce We start to XXXX and think, expenses through will in peaked overall we XXXX. move XXXX, take

adjusted billion X.X XX% loss was and billion, Net by XX% narrowing year-on-year, net RMB and X.X RMB and respectively. loss

the for XX%, from same a in the ratio very Our improvement net fourth was ago. year XX% notable a quarter period loss

We expect in our to narrow losses continue XXXX. to

allocation management. capital our to Turning and liability

cash gives our steps reserves of our have to which improve flexibility breakeven need to us aware the reach keenly we and our XXXX. target taken by are balance We sheet,

actively are managing sheet. our to liabilities improve our We balance and

the quarter, consideration a US$XXX million. total for cash US$XXX In notes and million we principal amount a fourth retailed repurchased total of of

million our As of principal by plan of US$XXX in a January retailed million note notes of offering. liability we million US$XXX a a completed funded We US$XXX equity and management part of amount program. this consideration exchange XXXX, offerings convertible cash for

totaled currently were reserves. The used our we transactions, remaining proceeds CBs to outstanding in US$X.X US$XX that replenish cash billion. these million After three have

cash take our and RMB time to and to remaining As fund believe cash amount XXXX. December of by XXXX, while investments sufficient billion further convertible narrow losses is of action and all a our deposits this non-GAAP equivalents, US$X.X breakeven XX.X we we had short-term or of reached billion. our We operations XX, bonds future and cover

XX currently for of With Thank be XXXX, to projecting attention. your like year that questions. in We the billion your mind, would billion. to full for and are you now revenues RMB to between net the open RMB call we XX

go please ahead. Operator,

Operator

you. Thank

your the question-and-answer now from question first will line Chen question, comes [Operator of We JPMorgan. Instructions] begin ask Daniel from Our Please the Daniel. session.

Daniel Chen

[Foreign Language]

management, to opportunity Thanks, question. me for ask giving the

XXXX So my on the is question outlook.

point core XXXX? economy point Thank you. key of macro with strategy what's So what view? so a business gradually management recovering, And the the are in our focus from

Rui Chen

[Foreign Language]

Juliet Yang

growth, on Internet not last as gross new focused we've into the US industry well Every company as revenue focus company, of same era. the of improving the Chinese year, entered noticed many noticed Starting from just more doing quality companies thing. the are and a that Internet flow, cash we the margin on quality has is

Rui Chen

Language] [Foreign

Juliet Yang

to be grow user our for and our XXXX our key us, for As focus to narrow losses objective would and of achieve quality higher top-line growth.

Rui Chen

[Foreign Language]

Juliet Yang

be change the strategy. this our will strategy. environment. as mentioned, because of But help will overall It the executing the recovery not long-term of on you economy will of course, better the changing This us

Rui Chen

Language] [Foreign

Juliet Yang

loss. our Number will is will is our to focused business be our our to and more increase there two, One Overall, tasks. important increase narrow DAU. two top-line be

Daniel Chen

[Foreign Language]

Rui Chen

Language] [Foreign

Juliet Yang

Number and on We'll to as our quarter-over-quarter say fourth increase increase our gross improvement I top-line. one year-over-year achieved I'm be our task, well improving narrowing basis. a of we've gross as focusing margin top-line, top-line When margin from increase profit. referring losses. quarter, and gross our In the the our

our XX% narrowed net also by We loss year-over-year.

net and We in XXXX, more expect by achieve target breakeven that XXXX. overall loss to meaningfully, will our narrow our

Rui Chen

Language] [Foreign

Juliet Yang

of user sales bring number but each absolute that well we no On company. of to the as conversion focus the as aspect, to will rather can longer pursue the the our growth the DAU, just of on DAU MAU,

Rui Chen

Language] [Foreign

Juliet Yang

our we XX%. In DAU to are ratio expecting we're improve. at continue to Currently, MAU will XXXX,

XX% to increase expect to We level.

Rui Chen

Language] [Foreign

Juliet Yang

as well potential. will This better company higher as better mean our commercialization engagement, of stickiness

Rui Chen

Language] [Foreign

Juliet Yang

emphasize the what kind of to the the our content business. our no content and want community matter business, still the foundation strategy the community I as of of is that ecosystem cornerstone ecosystem and

Rui Chen

Language] [Foreign

Juliet Yang

past is and we'll we're through XX year, industry the the experienced the have era, is involving. be matter no XXth PC technology anniversary. the as years, our celebrating going the this mobile And era mobile industry cycle, how In which AI-powered era, we in

community Bilibili, has PUGV and For content is and come ecosystem while what kept the aspect go. going others us the

Rui Chen

Language] [Foreign

Juliet Yang

believe value of We high-quality the content.

we ever-changing bring. creator We biggest our landscape. own moat is also that in the competitive believe the in for is can biggest talented also content It this business. high of That the the value advantage

Rui Chen

[Foreign Language]

Juliet Yang

growth competitiveness. continuously and question, our please content high-quality and to creator. We We'll build continue content believe our that value high-quality continue the on ecosystem content and this content in that core bring to can next And that to of bring generate our company. Operator, cultivate Bilibili that unique to talented is

Operator

Thank you.

question of Xueqing Please your Next from question, CICC. Zhang line from the Xyeqing comes ask

Xueqing Zhang

my taking in financial for question. regards you, Thank my question management, And outlook.

we mentioned margin to see company's gross past the the As Rui quarters. has increase before, continued in few

growth the detail? in how lastly, think So outlook what bottom we for Thank you. trend does of imply? revenue And loss And on use the the what's the since guidance, the line, narrowing of in each the segment management full it about margin year XXXX? that

Sam Fan

I Sam. this question. Yes, your is will take

improve Mr. mentioned, margin and As gross Chen loss. company this of the key to for objective our our year the narrow

So e-sports that's why low-margin cutting e-commerce business. are content down low-margin business revenue revenue business, supplying XXXX such we for guidance, certain and as

As line decline a revenue we for other result, expect XXXX e-commerce XX% by to our and mid XX%. to

expect for improve e-commerce gross However, to year-over-year. positive we gross the and business other the margin and

gross for costs overall, margin, certain regarding revenue, non-e-commerce as bandwidth, in content costs, Advertising. the fixed If increase the XX% plus increase will of these for Game, expect together, staff XXXX. And business our to we to VAS and And by and the we of gross still especially the revenue and including in the drive combat costs. profit, such year-over-year server grow the

mentioned, in I as content the XXXX, of investment. more be ROI will selective terms and focused we In

of cost will and expect decline. and cost server staff also We bandwidth the percentage the

of line year-over-year. terms expect we each margin sharing will revenue gross In costs, the business improve

As There contribution. be increase meaningful more gradually on sharing high-margin business, cost. will their revenue improvement

XXXX. OpEx, For OpEx in had total peaked

We by XX% XXXX. expenses OpEx in sales will in and to XXXX. start decline We marketing expect cut

amount We marketing XXXX. R&D and sales dollar for G&A expect in Meanwhile, will further expenses of the in in XXXX. cost slightly down terms also and decline cuts absolute

to We our we improve throughout mid XXXX, XXXX. also gross loss and expect margin narrowed gradually meaningfully expect in non-GAAP our XX operating to

Juliet Yang

question Thank you. Operator, next please.

Operator

next Zhang ask Thank Yiwen. from you. the question line China question, Yiwen The Renaissance. Please of from your comes

Yiwen Zhang

you. mode the kind as market product of XXXX? about our in the change [Foreign can you side, kind on of have secondly, the you the advertisement. the And discuss update latest development my Can question seen? story we And Thank we what should and the business on is us outlook product give Language] side? on expect what So on on

Rui Chen

minutes our Bilibili's our and MAU and [Foreign Language] time that's ratio multi-scenario strategies Firstly, effectively. The mode, key of is on story multi-screen strategy growth. XX one the to working user is spend the means DAU user driving XX% daily

increase an played our that as terms Story broadcasting launch mode, a important users anytime, video is supplement of of well who better driven existing mode Language] industry. screen attract the as access [Foreign new a We content active. are not their scenario. it user big OTT as scenario across in especially spend. and It in increasing vital it us noticed favorite helped same of like for has terms creators as video Story time since has story has time, to added also At newly has the Bilibili PUGV, the user essentially views, than OGV engagement, to role anywhere. to content expected mode allowed users

[Foreign Language]

Juliet Yang

rate. Story we healthy Don't ecosystem content by at PUGV put the and top grew has also a healthy and creator very always mentioning maintained are has high-quality Since a maintained XX% that, a Bilibili content PUGV inception, growth, when priority. pace. growth fast year-on-year Mode very a grow forget

Rui Chen

[Foreign Language]

Juliet Yang

consumer, content will evolve. need or for creator content as their content Whether high-quality

has sense a vessel the PUGV to ever-growing that our content good We think Mode to very will of ecosystem. Story served style. support carry So

of In addition, increase and our to Story has ad brought has this opportunity efficiency, new helped our for existing live and commercial and the combination broadcasting ecosystem advertising. Mode also us

Rui Chen

[Foreign Language]

Juliet Yang

challenging market, As under single-digit market continuing has we market for XXXX. market you low The growth. very advertising had to been this it may already ad gain only a overall And challenging in are share. aware,

advertising we X billion. year revenue, full its Bilibili, For reached RMB have

Rui Chen

[Foreign Language]

Juliet Yang

confidence XXXX, growth. advertisers. Maybe recovery been there achieve overall a for can a industry As has of for double-digit

that. see will We

more and their value investment all more advertisers, investment ad we'll also focusing their noticed of and will ad we for the efficiency. be on conscious they However, core be that

Rui Chen

[Foreign Language]

industry Bilibili perception can advertising in areas. to and three are and advertisers ads, that beat invest three rejuvenation. above main cover to core their for two drive One for launch. will new growth The sales growth conversion. categorized continuously is for our the needs have three we product is key The rate. brand increase rate advantage we brand we confident is all Number reason Number is

will In be We to to long-term looking integrated verticals. upgrade for continue marketing growth believe sales our XXXX, model industry the we be our will different driver.

ad leading such our and matrix we'll digital build continue product. industry games, to for For high product four as and upgrade barriers XC, verticals,

for content the China. community And users content with us. in an on a Bilibili near unique gamer Take example. games content think of gain XX million game favorable also largest and We basis. regularization has consume recent monthly for BanHao is the tailwind a

ads improve and including distribution, distribution. the content order unified to teams, In game in three companies for game game QX, gain for to game comprehensive the a game we have provide more efficiency and service key

company is to operation also to audiences cycle and on Bilibili. game rate their time in goal enable long and higher reach conversion achieve every Our target

[Foreign gain and FMCGs automotive Bilibili from Hello, market further Language] hello. e-commerce, attract Secondly, is... take we larger expect general like share areas and for e-commerce, example. to budget operator?

Operator

on. carry Please

Juliet Yang

brand on were SKUs disconnected we only our and opened as year, we XXXX, about who community Yes, traditional over on brand-leading optimized have debuted e-commerce model We performance of Alibaba, Last top and revenue. over based have brands saying performance recorded has with function, also together is Panoro that were for better-than-expected new which a X,XXX radio apps. our Bilibili XX,XXX through second. collaboration. the conversion Bilibili and In [indiscernible]

unique continue broadcasting live integrate e-commerce video system explore e-commerce transaction to -- will open model. and Bilibili's We live loop and

budget share also expand to We apps year. and in expect their quickly e-commerce our this market

Carly Li

Language] [Foreign

Juliet Yang

tens our also capacity more top improve our our point. friendly as AI data Language] we infrastructure Also, continue all in with are application provide of to in GC in more we'll customers [Foreign invest to community. working marketing improve data at and to scientific that, algorithm On and also scenario atmosphere explore our

have to XXXX will have carry please. thing Operator, next which to that's -- question done the into do, and what right of continue we XXXX. and we are All in

Operator

Thank you.

Our your line Zhang from next Lei question from ask America Bank Lynch. question, Please Lei? comes of of the Merrill

Lei Zhang

question. mainly game new the licensing? the [Foreign expect after we can Language] taking Thank thanks game business. question my game and outlook? game strategy Can about your management of in-house you any for And is resume My with us share you.

Rui Chen

We Banhao new business reasons. year. have believe the last we a of entered for one is game era

in is for their also rate also increasing taste the overall for gamers industry rate cost demand increasing games are higher-quality success Another China. gamers the production shaping the for games was games involving and mobile reason rises, penetration as declining. And

In the well for rate, have as quality as to it's company era of titles. they gamer good lower easy money game make penetration of

However, segment two era, be two will make we believe we'll in one is One in the new only this in title can to a and and there be new money number games, market because will be would the of kinds gain gains only longer cycle. titles. kinds super survive this two And mega genre, succeed. the share era. of have it Number the life able

game to trend market market strategy the is next the few Bilibili's in designed the -- trend next the serve market years.

executing firmly distribution industry to only hence, have the month higher to This highest be strategy be in the more because globally. cycles the global next of distribute could increase have will use – the only games quality the cover cycle, operation will of developing and We cost achieve ROI. house will for and production

[Foreign Language]

Juliet Yang

it's we advantage. we'll looking the down will we number hold genre, be cut be genes and the resources area that of focusing will our of ACG operated more we And In focus focused, done unlimited on. to terms will self-development best The on will one the game, the we projects three be also, a most on developing will plot. same our or the of part be focused be be game whether

Rui Chen

[Foreign Language]

Juliet Yang

bear investment is we revenue is revenue. total already perspective, our to In self-development From made X% the self-development games fruit. XXXX, a in games about contributing of results starting game

to will ratio this in expect increase XXXX. We continue

Rui Chen

[Foreign Language]

Juliet Yang

approved. we As has also been imported basis. Banho, on the been of be the normalized. quite for already domestic batch get monthly that's a We've there in been to releasing Banho has titles the a been regular believe Banho has There also for released

our being believe that to games, self-developed as for has Bilibili, advertising will tailwind jointly been operation our favorable So we it's well also gained industry also be game -- as an our only favorable business. it for this not

Rui Chen

[Foreign Language]

Juliet Yang

two Also, we quarter this are self-development looking launch year. [Technical to in titles the Difficulty] second

Operator

will [Technical conference shortly. line the remain Difficulty] resume Please

Juliet Yang

question, Hello. Can please. me? next Operator, hear you

Operator

Thank you.

ask from next question, your Our Goldman from Please Lincoln. Kong comes question Lincoln Sachs.

Lincoln Kong

[Foreign Language] question. my for So, taking thank you

So is my question about AIGC.

hot this on more we bit monetization the Bilibili this Can can you. theme Thank and think the elaborate a basically, and year. whole in for So AIGC potential pretty is a how apply front product opportunity? management the

Rui Chen

[Foreign of the opportunity that Language] a is not the but increase the players, for I productivity whole content a society bring we only industry that to can believe in AIGC attention, bring mega pay generation. for believe event, terms will huge

of to anywhere. First, everyone AIGC to the would And the content be those invention the video has cost. productivity camera. an analogy significantly mobile increase and It anytime, can the lower phone production record allowed of help

brought We for opportunity especially but UGC because, a are platform. so believe very Bilibili, has a many Number for other big content are one, massive we it as our industry, this for we in two, for players as Bilibili platform. well is

that search to experience people the efficiently, such new they as on to similar would product help First, ChatGPT for review. users video the Airpod will look more say, as reviews, the a want find let's want front, that be

enhance up, has user text. when to user easily information useful accumulate whether of who our the the and in can Bilibili own the function. experience the clips it's in we It search data, and or use find and they will video and the For largely format format structure present of organize a

to time at views our value the search efficiency enlarge still that consumption for a Language] find massive historical the same videos ChatGPT continues and the help Bilibili, knowledge way, amount constructive we value. our and has like us few As value users, historical improve years time a will more experience to for content in it back, video bring Even of have generate of a [Foreign after content because knowledge can to related which users. content we to that

revolutionary the allow users terms more content content. believe that creation can bring tools, of creating to In start we AGC experience [Foreign Language]

can and content many to be used in same example, For allow material presented who different formats in different also users consumers. the videos just be

content Now like professional. easily they create a can

[Foreign of broadcasters Language] in on platform can content AIGC thousands bring automatic content creators, more you already experience creator, virtual is – currently virtual Lastly, virtual may China, as have to Bilibili. we more largest efficiency, Bilibili higher content the live more the creator characters. on know, virtual virtual higher user tens

For person. to what example, it. can are virtual a transform massive can And bring real revolutionary Tianyi that our imaginary this we content Luo a host, will AIGC with has bring that is who – fan. her do this experience And is for space people

virtual So we that live of believe creator, very can effects broadcasting the terms AIGC content the serve positive offer. virtual Bilibili host will and virtual in idols

Rui Chen

[Foreign Language]

Juliet Yang

a by who's be And will evolution able very content That's probably the connecting easily. bring our will creator change in of why positive, be users to to past serve to our production people years. As platform. more Internet, has content access very users, with era. increased create to The more to tool the allowing change allow the platform that's positive to tenfold user mobile the PC few similar

platform, forward And of Bilibili improving of tool create the content a to efficiency, easily most. the serve I'm people in video that definitely more will -- production the allowing to personally as content more the terms AIGC involvement very looking

Okay.

think, Operator, we can we the I have wrap-up time the for that's today. call.

Operator

to additional for comments. closing back management, I any now turn the or you. Thank would to conference like

Juliet Yang

Well, thank joining us today. you, for everyone,

TPG feel to Relations. IR contact or our further have team Investor free please you questions, If

day. Our that content Thank in information we news today. you great everyone. earlier, issued earlier presented Bye-bye. a was And have the released

Operator

concludes you. call. Thank This today's Thank conference for you participating.

disconnect. You may now

Bilibili (BILI) 2 Mar 232022 Q4 Earnings call transcript