Bilibili posts first full-year profit as ads and user engagement grow

Bilibili achieved its first full-year profit in 2025, posting revenues of RMB 30.35 billion ($4.2 billion), a 13% increase year-on-year. Advertising revenues rose 23% to RMB 10.06 billion ($1.39 billion), while mobile gaming revenues grew by 14%. Daily active users hit 113 million, with significant increases in user engagement metrics.

Key Points

• Bilibili's 2025 fourth-quarter and full-year results show a revenue increase to RMB 30.35 billion ($4.2 billion), marking a 13% growth from the previous year.
• The company reported an adjusted net profit of RMB 2.59 billion ($360 million).
• Advertising revenue increased by 23% to RMB 10.06 billion ($1.39 billion).
• Value-added services revenue rose by 8% to RMB 11.93 billion ($1.65 billion).
• Mobile gaming revenue saw a 14% increase to RMB 6.39 billion ($880 million).
• The company reported 113 million daily active users and 366 million monthly active users, with average daily usage time reaching 107 minutes.

Relevance

• Bilibili's profit marks a significant milestone in the competitive Chinese online video market, historically dominated by giants like Tencent and iQIYI.
• The rise in advertising revenue aligns with the increasing trend of digital ad spending, expected to continue growing through 2025.
• In 2025, mobile gaming remains a dominant segment, mirroring global trends where mobile games constitute a substantial portion of gaming revenues.

Bilibili's first full-year profit underlines its growth trajectory, driven by increased ad revenue and user engagement, positioning it as a key player in the evolving digital landscape.