Earnings call transcript Q2 2023

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Operator

Good day, and welcome to Bilibili Second Quarter 2023 Financial Results and Business Update Conference Call. Today's conference is being recorded.

At this time, I would 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 the Stock most risks recent materially Hong differ uncertainties, including news Kong this results with in mentioned and due events our mentioned discussion, number today's in release the from a Exchange. to filings those in and Actual those could SEC and

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

recorded. As a reminder, this conference is being

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

Executive from are Fan, Vice senior management Lee, 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

Rui Chen

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

metrics. prioritizing deliver made healthy DAU meaningfully DAU growth goals. to profitability will sights and the we gross more growth, I profit community have share both our improved fronts. our set the second We losses, our solid continuing while on these toward color we steps and In quarter, and on strong narrowed and

our to top-line the commercialization enabling further our all, on efficiency, traffic second profitability. our quality convert quarter, to of path we In First to growth. us improved growing

gross In of second increased margin revenues our XX% ad live profit quarter year-over-year, increased business our both advertising consecutive profit is revenues our The momentum quarter, increased significantly in the XX% we and improvement. fourth gross driving XX% Moreover, by XX%, broadcasting the our and to year-over-year. by marking encouraging. by live see broadcasting

expense our strengthen continued have controls. Meanwhile, we to

G&A X% Our total a and a in and expenses, R&D expenses, XX% operating by basis. year-over-year decrease expenses, on a in XX%, including decrease decrease expenses declined sales in marketing XX% all

contributed XX% These our meaningfully by margin enhancements our year-over-year. loss reduced cost bottom-line We non-GAAP our to net effective improvement. and management

our community Moving on growth. to

year-over-year spent our Our increased users' in minutes to platform our million XX XX% ratio second by XX.X%. the daily quarter, up to up the year-on-year. XX% reached XX.X time DAUs quarter, DAU by second to on spent average in total MAU Meanwhile, time driving the driving

see We strong DAU has are growth to in pleased this QX. continued

main of second ad our will the to the be we tasks commercialization efficiency core First, broadcasting live in and revenues areas: our our year, into As further move increasing three this by aim half enhance traffic revenues. we

more bring anticipated games high-quality the will we Pretty to users, Additionally, including highly Derby. game, our

financial our a to continue will strict and our and further narrow control costs prudent take of we Secondly, expenses with approach losses.

Finally, committed yet growth young importantly, achieving generations fostering China. ongoing for to video and inspiring in we community DAU are an

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

ecosystem's our more most asset. our among are to content followings money in be ability content. creators valuable tasks. their to creators be earn large to Content these with and to able top Supporting Starting continue talented amass

daily the platform to algorithms content on and continued recognized. we second to active submissions optimize enable monthly products always, creators creators XX% content XX% our As year-over-year, In the our respectively. our content quarter, and by be facilitate high-quality increased to of and and number

high-quality video to plan help of shift from content users In views our video the we this Bilibili. second our year, to video will metric more time spent, watching half which on discover

that feature easily. in to an found be beta enables also testing AI-powered more relevant are search our We community videos

Bilibili X.XX XX% channels, Over on in through various increase the well year-over-year. million earned as showing monetization Bilibili quarter. a second increased money Creator creators

our live and program, broadcasting addition channels. In are to advertising more creators through income incentive earning cash

earning money creators. XXX% new example, grew have up opened video for opportunities by creators ads content earned through who commerce In year-over-year. our commerce the the video over For efficient number second of quarter,

Mode, to multi-scenario XX% and in quarter, daily the DAUs X.X key to drive XX% video up content views and for second products, of users, has continue video Resonant like scenarios platform In It become views daily year-over-year Story consumption our the Story which, ad our video total grew growth traction. to among billion; one contributing were revenues. our by Mode's year-over-year.

our to community. Turning

in highest platform quarter, remain and history. our second reached users quarter highly users' monthly in the XX Their quarter, up XX% in engaged minutes the reaching billion second The company's interactions level Our nearly was second time spent the year-over-year. on sticky. XX daily average our

official group XX-months a rate of core XXX also by with increased Our to million, retention XX% members XX%. year-over-year around of solid

Shanghai. pay July, Our This in-person. signature bring The Over almost immediately. sold experiences. offline tickets Macro events hosted highlights to strong young well for Bilibili World and Bilibili's community also users' tremendous we our generations, unique in community as influence offline together events, our XXX,XXX response Link exciting willingness among out Bilibili two as

financial the second Finally, increased let's Total X% look revenues at quarter by for billion. RMBX.X our progress. commercialization year-over-year and to

respectively. and Specifically, improve our margin. revenues and profit from increased by Meanwhile, broadcasting XX% we our continued advertising and businesses gross year-over-year, live XX% to

gross year. quarter XX% second from by gross XX% driving year-over-year, a same up the XX% our in Our to margin period in profit grew profit notable the last

this year-over-year. business billion year-over-year Looking driven in our primarily value-added services by live in quarter, broadcasting Revenues grew increased to revenues which our at from by RMBX.X from business, detail, X% second XX% the more grew

quarter, content within broadcasting content to diversify creators and broadcasting opportunities we As broadcasting second expand we of further number live by live hosts year-over-year. multiple operations, hosts. In the into live active XX% the our live increased converting have up our by video monthly opened integrate broadcasting

for are In including users, new live channels we live events. paying create to products more addition, exploring celebration broadcasting our

XXXX. second of ongoing We expect half revenue to in our activities growth integration our support the

had package, highlighting relationships. June, renew auto user subscription premium trust-based self-produced highly more of anticipated an Five [Foreign we our Chinese of end Link titles, XX.X and XX% annual content exclusive are Season Over Hill In several QX, members. the high-quality or members. on our Language] we released bring title million our By Click [Foreign Fog to X anime premium to including of Language] Elements whom

our Turning business. to advertising

to conversion our growth. progress high-quality our products, to with revenue believe initiative effective convert we integrate we to ad found sales advertising As have we way an traffic

led billion, by For brand ad year-over-year. to which grew the a grew our second performance-based mainly growth, by from XX% year-over-year revenues double-digit our quarter, increased year-over-year. over and percentage offerings Ad XX% our revenues Sparkle also advertising RMBX.X revenues by

were advertising and cosmetics, products Our and top second games, and home skincare five and food appliances, digital verticals in e-commerce, quarter the beverage.

and improvements continuous helped industries, more ad ad us industry budget our to Our integrated solutions from as also games spend such e-commerce. have gain

video The XXX% from able introducing creators creators revenues earned year-over-year. more products, by XXX% opportunities. to from Specifically who e-commerce second increased the ad through by were industry year-over-year in grew benefit commerce number ad Meanwhile, content quarter. income the of over commerce video

commercial we well optimize Moving refine forward, our our as algorithms, to ad continue as our database, will build offerings. product

confident that second in revenues can the are growth XXXX. DAU achieve of and solid per We ad half our we improve

the titles. business, the for same second mainly and a our As second quarter for lack revenues from a million new RMBXXX decline due was XX% quarter, launches for a decline The grossing certain were in of to decline year-on-year game period our last year. the games

stable. during game performing Lane's paying anniversary, year FGO two reached games, peak and top revenues. Azur in users a Our Particularly Azur six and remained Lane new the

In addition, we have Azur license also our five another of exclusive years. successfully extended Lane for

ranked Alkaidland romance self-developed our launched chart after in first we of genre, one number iOS host a shortly by female the the game July, game free Records, its users, the release. on Language]. Welcomed In [Foreign download female

Pretty Derby, have Derby titles domestic and highly August meantime, X year, we launch overseas of for to scheduled million today. already that working now anticipated of We have In is developing new release on and Pretty pre-registered is actively users on love. including XX as game in seven games markets Over to are the the second pre-registration. that in Language]. available players [Foreign more the plan half the we

from well self-developed and as derivatives as revenue the were and RMBXX.X year to non-core few Given now XXXX between said be launch we delayed titles Pretty contribution and by Derby businesses, initially Due such expect of billion months several IP revenue full games that, we the others, RMBXX.X than lower planned. to other as billion.

As to our goal is I profit year narrow and improve for losses. our this financial mentioned earlier, key gross

are profit our committed this in XXXX. cut We to delivered our net gross we our half improve have on quarter. expenses, this with second the increase and XX% by meaningfully in adjusted further XX% on and breakeven year, ahead, losses Look reach and down in of the control and profit gross second target goal cut loss

growth healthy As to financial target, generation we and of life progress across the platform China. continue the our everyday enrich we young lead our will in achieving on

Mr. Chen's remarks. concludes This

Sam Fan

of will brief now quarter our overview of a XXXX. second I provide the results financial for

As mentioned to in our remarks, financials improve. Chen's Mr. continue

We are our our with results and improving clear bottom-line margins showing losses. narrowed in

second net same year. revenues were last billion, period RMBX.X the the X% for Total up with compared quarter

stream mobile IP revenues businesses. from games; VAS; XX% revenue breakdown our and net total advertising; by Our XX% approximately was XX% derivatives XX% other and

billion, RMBX.X cost gross by profit billion, year-over-year revenues to RMBX.X Our our XX% driving to X% of up decreased year-over-year.

from Our year. in the XX% margin up same was last gross XX%, period

half margin year. gross the expect continue back the throughout improve of We to to

same while DAUs expenses Tight were cut We time. our total XX%. to ongoing sales to marketing RMBX.X by expenses Our the billion. operating by we our expenses down our year-over-year XX% grew while at improve million, XX% RMBXXX control year-over-year monetization of and is

same down total expenses XX% As XX%, sales billion, down XX% was the RMBX RMBXXX.X year. in year-over-year. last a were percent of year-over-year. expenses X% compared G&A and R&D million, marketing revenues, were with period

and by RMBX.X adjusted XX% narrowing were XX%, and billion and respectively, year-over-year, RMBXXX.X Our loss respectively. net loss million, net

ratio second ago. from loss the period for net year XX% was adjusted quarter Our the a XX%, same in improving

repurchase to US$XXX June the total management. offer completed a and Turning principal of for amount capital XXXX allocation with XXXX, right notes our million. liabilities we In our

outstanding As of quarter, end bonds second our the totaled of a US$XXX of amount convertible principal million. the

we deposits cash cover operations. As sufficient investments convertible XX, amount had of RMBXX.X and future time bonds our our and fund short-term all billion, remaining We equivalents, of to of or believe billion. this and cash XXXX, is June US$X

your to please you call your Operator, go We attention. like for Thank ahead. would questions. open to now the

Operator

Xueqing ahead. the question gentlemen, begin Instructions] now from session. Zhang first the question-and-answer the And from question. Please taking first is CICC. are and go [Operator now we'll Ladies We

Your line open. is

Xueqing Zhang

[Foreign Language]

Good is user congrats profitability. engagement. second the evening, increased my Thanks and further question, in on advertising quarter. DAU My towards management. for taking about question

DAU the So, share you. And more what's Thank can holiday? going trend user summer the recent management on during the engagement forward? details

Rui Chen

Language] [Foreign

sustainable emphasizing we and company, the have are [Interpreted] Since and last year, strategy. increasing I and executing power of top been have our achieve that our priorities earning growth DAU been healthy two on

DAU our grown reached minutes. quarter, sales XX%, This period million. second with daily time same by XX -- in And operating our our -- the record XX% of down entire spent year-over-year. high the year-on-year, have spent marketing by daily time history. is user In our reaching spent the time of grew XX% and overall XX.X we And community XX

of growth robust community. metrics a of and above healthy very the All shows

high-quality And effective The requirement for an DAU sustainable growth Bilibili we is reason will achieve our with and been emphasizing and DAU healthy route through of way this this believe already growth be healthy our we can convert live foundation we cycle. top-line advertising traffic the effective of discovered growth we broadcasting. top-line to why because achieve the And into we preliminary and methods, is and a to on increasing virtuous the believe profit. believe we DAU have have and

and a second growth average and the ad XX% our lot. which growth, live quarter, In the exceeded XX% achieved broadcasting respectively, revenue industry revenue year-on-year

of DAU for period in vacation, outlook August As been given in and into and the daily time we're we that spent the a the strong witnessing user have the experiencing summer, growth. summer can milestone expect a can surpass also historical average quarter, exciting XXX and reach we of daily in that third do million, the DAU high. spend new time our expect our very We a

engaging community confident believe and attract sustainable with retain converted expense, our our also content can with continue We marketing are this to be and we we effectively high users And achieve with high-quality tight DAU can sales top-line sustainable on healthy our growth. to our and user control traffic growth. very and

Juliet Yang

you. Next Thank question, please.

Operator

question. the for you Thank

are go Securities. of Please question. And We next taking Please Bank question the Lei from from standby. the now Zhang ahead. America next is

open. is line Your

Lei Zhang

[Foreign Language]

the the advertising you Thank solid also for you on second us to second should about In platform? promotion of to growth. should the the development we congrats strong new Can on e-commerce and us taking give related you. business. Thank look some streaming we our business, base updates quarter? growth ad how with question My on management of at Bilibili? Also, half the business, our ad -- June follow And addition, ad question, growth can driver my the XX business? think at you share major ad how on

Carly Lee

[Foreign Language]

revenue, quarter, second half our the year-on-year. a same last the XX% rate second ad for exceeded revenue has grew revenue of XX% period ad as same gross by it the our the industry year, of In And per total this from if increased year revenue XX% the the overall, growth at time, the [Interpreted] you lead our gross percentage directly -- in look which quarter, of has At average. to ad ad first profit.

capability, the improving middle data driving efficiency optimizing AIGC is pay our model, one mentioned and application to revenue overall advertising ad last The beginning and includes horizontal, that's referring technology been one to vertical the advertising inventory strategy we improve the The and recommendation quarter platform and horizontal one of the efficiency. growth. to the off, actually matching

the The models, is Internet second grew e-commerce show by positive XX% among ad XXX% referring quarter, app year-on-year and starting game industry which, games one very revenue advertising games, FMCG, customized over vertical -- game automotive In service; over from year-on-year. to from revenue grew industry by and industry the including e-commerce, to and six results. e-commerce and

year, year, experience. has half is different accelerator on ensuring and reason at expand content since that formed community of revenue this it first we the of good last basis integration scenes the very ad inventory sticked to growth second the the the and The growth. and momentum user commercialization of In drove have of in

focus e-commerce-related transactional the growth. you further to capability building revenue products established you quarter the Thirdly of many into the to is on by we the scenario -- in that aware that the probably already integrating ecosystem boost video second have trading advertising center

plan ad generate membership XX% for XX% tab shopping commercial the Language] we would on expect few [Foreign shopping page to ads We the a to this creating next video to months, about Language] more entrance And also and the e-commerce-related year. of revenue new in main opportunities. our upgrade [Foreign

year-over-year. of to revenue in-depth industry June from we through scenario the June period the Double XX performed, XX XX we actually e-commerce during how promotions, period industry, revenue the e-commerce ad revenue collaboration including by platform, ad XX% And industry for during with to data As transaction from e-commerce e-commerce expect festival. achieve upcoming our increase -- XXX% grew XX% year-on-year

As aka results actually Spark for collaboration examples, did a expectations. we Alibaba's our with exceeded program, the [Foreign Language], and

can (ph). who There XX% I -- ratio even are advertisers] this ability we introduce. data convert a for the certain customers, new interesting shows consistently XX% effective through About industry. reached to the few That Taobao [for of entered were that and have user points users to to Bilibili

In after XXX% June addition, year-over-year. And video Bilibili days by from a very Alibaba user during conversion actually value was posted. maintained high XX the XX ad revenue the period, increased related

build an and grow to choose with own partnering other on platforms on the to choose content open together their players Bilibili, e-commerce approach, volume to hand, we take brand sales other Bilibili. owners many While e-commerce the platforms,

leaded is behavior First the on first nearly video the believe of on year, young a mindshare to In unleash as that is important shopping to section, XX generation consume, and million the consumption users commentary all, has and on behavior. power our their strong our building consumption priority. half Bilibili's we top on cultivating clicked very of mindshare willing users' Bilibili this platform. transaction-related link which We

increased year, X number of links half of broadcasting videos demand, consumption our unleashing and carries X the the in of user in of product live by increased the first first e-commerce times by this the this that times year. we shows As half number

try to and our continue et content initiatives. already content will many content e-commerce. sustainable we e-commerce out achieve through Secondly, creator help cetera. limited to but Bilibili includes, as [indiscernible] creator This such to operations not well-known video More video to creators our started

have they a from delighted they that consume model power. a are consumption of We very very Bilibili's female lot are Bilibili's on that valid shown have successful, We And of also no this the are is data of they consumption users -- rumor as user that fact, broke power. the strong and that's find Bilibili matter have and have strong we do actually, to and with potential do XX% Actually, purchasing to willingness and female. users notice power. the

as In derivative, that launched strong number content. Thirdly And we our among live all preferential terms XC our appliances example. home our influence that cetera. a is on our but the explore the of young e-commerce addition try ACG here and on hand, to IP traditional ranked digital had. products, that user Xiaomi to et top cellphone. content more Bilibili and the and the mid-April, power verticals, on data among its shopping, the we intend the strong We It in that such products categories, our new is which have from Based in group, strong more categories food, users membership had intend not -- aka to word-of-mouth reflected also I promoting only in is broadcasting show beauty, GMV consumption one platforms. of focused

I building, perception and true has ad to a solution, seating establishing advertising a of Bilibili full model and from think evolved conversion. the brand mindshare sales integrated brand ad chain

we growth, solution already user In full I ad FMCG, on leading In digital deliver and to upgraded starting revenue growth believe XX% game the XC We that such have as healthy ad achieve our XX% products. we we our and -- for a are is half, and second of show strategy basis year-on-year. sustainable to to the industries can for upgrade e-commerce year ad positive first inventory confident transactional we and as results. conduct additional industry half plan this ad and year, personally

Juliet Yang

Thank answer. you. question, That this concludes please. next question's Operator,

Operator

taking We question. the are next now standby. Please

Please Kenneth Fong ahead. Next question Suisse. Credit is from go from

is Your open. line

Kenneth Fong

[Foreign Language]

for track full management, for my narrowing you with taking year behind? question. us on share losses you, Thank still Are key considerations year? lowered the that the We revenue for you. guidance. we noticed Can this Thank we

Rui Chen

Language] [Foreign

our in [Interpreted] secondly non-core two plan as delayed; number comic revenue as and our is certain one, guidance strategy period than the its why others and of of such business, The to largely due is and launch IP lower number of is expected. and business, was the is, the reasons: reason derivative update games adjustment

the guidance is and it's temporary the for a business The reason a it's believe intact. core We of -- phase update, actually change, foundations. just change for core not remains

example, For delay little bit the a revenue are we the later. just is that of games recognizing

For be -- confirmed Derby game releasing This August certain. that will this launched on scheduled to already example, is and has in day. we Pretty be And XX. this

advertising, And And seen this live for game of advertising our our of look forward very -- do second and you in the has a the half in the unchanged. XXXX, quarter, core the in will broadcasting revenue and solid to that sustain as outlook broadcasting the and and year the confidence business may Bilibili growth. business, solid achieved is the quality second growth. have expect healthy that We and and very live

profit narrow financial this our target set year, net beginning we the In our of and increase losses. to have gross

low-margin ensure rate we Strategically, for So, revenue even the been lowered gross is dollar contribution requirement impacted. though its business, department some the or business or financial business loss-making absolute as -- to growth growth have to requirement lines a each of has revenue of profit. KPIs the

and a gross dollar has of growth. absolute our healthy the sustained However, robust very profit

net and XX% consecutive and In the gross achieve cutting four XXXX to breakeven by our by loss confident for experienced grew achieve XX% and gross I'm margin our quarterly profit year-on-year. growth, has our target narrowed by has second quarter, loss year-on-year, adjusted our target our XXXX.

Sam Fan

gross though I already is Yes, lower be even called than Sam. has rate, that, growth the cutting loss control. loss We cut that so are of achieve beginning the Chen adjusted -- mentioned on increase to out the and just billion, which operation by add we this to target. profit feel want will reduction in loss revenue RMBX year, Mr. confident expense expected, but this is said to the and side, through the

in was our breakeven. good think positive flow quarter notably, there's achieve to fourth We quarter, that cash cash flow in the chance close can operating second operating the this we And a year.

to gross of year half by achieve are margin our improve and the second we profit XXXX. target our Additionally, continue confident to this breakeven in

Lastly, various the reflects guidance updated potential full our current projection year of outcomes.

ensure goal to well as smooth We gross our losses. as will try profit our increasing launch and achieve of best narrowing the product

for you question. your Thank

Juliet Yang

operator. question, Next please,

Operator

We Zhang from standby. next next Please ahead. is taking Renaissance. The the question are China now from Please question. go Yiwen

Your line is open.

Yiwen Zhang

[Foreign Language]

the think pipeline Derby? about question. expectation? taking can My should about the on game talk discuss you the self-development thanks and your the my So, game business. question especially our direction? for Can you Pretty for strategy And Thank is also, we and you. How

Rui Chen

[Foreign Language]

of half have we Among internationally. two internationally. them second domestic be those the be this seven In and ready launched launched seven, to year, to approval already ready the [Interpreted] titles market, and domestically pipeline gained launched in have be our five will in of

As already now, already million This history weeks Derby, pre-registration for for August users new game we the of scheduled And a within our for over amount. game. two operating record pre-registered this Pretty X highly for to -- pre-registration, date the just anticipated launch is right be XX. the in have

a making will actually Just because the a lot that it be actually of Pretty localization months. reason with our large very doing Derby we having by gamers one experience. why base, sure effort delayed games several highly fan That's that it's anticipated has work, original the spent such been the of

be they and launch Derby Pretty also of good launch title, game very and feedback Bilibili's will make is and successful we're successful that and believe China have smooth are the in team and very Pretty user a Derby. team reputation. they very ACG a will And sure game best We experienced, launch confident

called includes second year. two game This -- there for half be As launched will of ACG our game launch [indiscernible], card already in today. one game have October. And called another was in have will self-development which the launched we actually [indiscernible]. be pipeline, scheduled This to be this will

been self-development for are -- a strategy, our this year. the heavy among there's you very competition game As aware, game as industry may you

for take is personally, to our the will earth and is a has Bilibili require which game, we time down the personally strategy the will the very content a to high our our on -- games doing every time advantage rate focus, approach most be As I target as own be be ensure and unchanged, also Me, will lot will spending a step-by-step a grounded have This will achieve. to that quality to of. be on game lot to self-development launched focus team successful. only that and we -- we remain will spend to that success genres of started self-development and ensure ensure of

profit. the operation the long-term make game cycle. believe any it the Otherwise, Secondly, won't a will game. it's of operation long-term about in I future, the be all

not long-term game. have up. the is the self-development title, this requirement allow be set we we a one our -- for is it to be won't I title So, operation day If from won't

the a if we we won't not game, it. lifecycle it's As sign won't for game, it, license license long

management the have of important game the the online, one As long for will KPIs and team. already -- also operation I be for that's lifecycle be the most

have we a track very Bilibili, As for operation. long record, lifecycle making sure good

just game. very [indiscernible] As remain its user of metrics our healthy the anniversary. for all anniversary six fact, seventh of of last matter we just data celebrated Azur week, a both And Lane year of and celebrated the years

a six the As fact, anniversary of years surpassed DAU FGO, of during even sixth anniversary matter the its DAU.

our we sure will cycle. long operation will a stick making So, life that on of route all sustain this and game

Juliet Yang

Operator, next Thank question, you. please.

Operator

question. next next The from Kong is go the Sachs. from taking question ahead. standby. Please now Goldman Lincoln are We Please

open. is line Your

Lincoln Kong

[Foreign Language]

So, my question Bilibili. to is about AIGC's application

AGIC as of we search. So, tools the development from showcase or management about production Bilibili? the strategy we past up some terms benefit seen well as in efficiency, around Could AIGC AI-integrated marketing more think speeding Investor elaborate the how already could Day, promotion

Rui Chen

Language] [Foreign

equals believe Bilibili, ago. -- will XX We can happened is it of we And mobile technology this The this it, bring that at actually industry. to benefit [Interpreted] what to will only years Internet breakthrough AIGC, look it the the not benefit everyone. way

well very for Bilibili, core as is as video So, and AIGC amount in for can efficiency based example, ACG, -- on Also and has clear terms an a as enable large on content been LLM, of recommendation. around in increase that content the it fronts, our within efficiency on our business what increased means, lot both help production our applications experience. And by a means believe the managing to all we has us and the content of technology, the multifaced community improve can we to scenarios understanding AIGC, text this community. user

believe conducted application As a the and scenario, we and there's research already scenarios can for lot actually we extended have some development, of that we leverage.

various conducted our it TTS, by like products similar develop apply before tool, this, this actually, tool. it and already scenarios. And actually For by powered self-developed research Sam. text-to-speech, have was example, the and just It's Q&A prepared remarks to that starting Sam not now our session, spoken we by AI in

And there are other examples.

Bilibili was and TTS virtual their generated tool they AI knowledge-related tool, year's voice Macro this Bilibili generally XX creation, And also live that example video same text voice. by record the Link, as many knowledge self-developed. write and their be content would the example, our For XX, creators, host, another they

largely it they efficiency. can the its production help improve of -- tool, AI can With this

As actually, in started but haven't for quite the operations. already have marketed LLM, to various even we daily apply LLM though aggressively, we

of spend human power have the on drastically text, past, the and the text, it would the we language In the auditing process can side. a content meaning of the voice, in auditing the of understand be of the meanings lot Another resource managing can all it large behind model, our content because the and how example the to with help content implied content. increase the efficiency

question videos be, library is with enhanced Very model the the that search, each testing and spending drawing Bilibili they the efficiency. summarize our in content actually and of have which can content enhanced video beta recent Impact, information enhance version just versus to language to character Genshin user of valid typing the that scatter carries model vast would worth a simply which summarize just example valid would scenario ask has LLM search be because can to answer another and And can new time by We're application language and watch large we card lot upgrade and is can the a information questions. box, large provide several our past, the in improve, summarize search information. worth people to the to a just search drastically and leverage

Now, they of with and get answer. -- correct they stroke hand, can the just the fast

accompany Another testing upgrade AI extract help when Assistant. to This information. are will they we summarize them video, and a are watching users that is function useful

in example, AI AI the chip can Assistant can user what's Assistant, they the Pro the the to and What's the the For MacBook get efficiency What's the between exact MX MX chip? extract to video, information difference? review user price difference help difference? what the ask want. And a

Bilibili All to of this will user experience. help increase

productivity, technology our AIGC Internet, will We technology our is once-in-a-lifetime opportunity. matures, user technology. value really by and Bilibili's similar well enable as This We believe with experience our commercialization mobile this grow to the enhance the experience, we creators' invention the content which efficiency. be can mobile a leverage ten-fold. this increase Internally, to believe largely AIGC we of user as

Juliet Yang

Operator, That questions. call we can concludes the close today. the

Operator

business session. again update results Thank you financial call conference second Bilibili's and And today. quarter XXXX that once concludes joining for the question-and-answer

If China a further Communication. question, Executive Director, contact you Juliet Piacente found information Bilibili's press or Contact great on for IR and IR please Have day. today's both release. Financial Yang, in USA be can have any

Bilibili (BILI) 17 Aug 232023 Q2 Earnings call transcript