Bilibili (B站) has released its financial report for the second quarter of 2024, showing that total net revenue reached 6.127 billion yuan, a year-on-year increase of 16%; net loss was 608 million yuan, a significant reduction of 61% year-on-year. Under the non-GAAP, the adjusted net loss was 271 million yuan, a reduction of 72% year-on-year.
During the earnings call, B站's Chairman and CEO, Chen Rui, along with other senior executives, provided an analysis of the key points in the report. Chen Rui noted that despite challenging macroeconomic conditions, B站的 advertising business grew by 30% year-on-year, with quarterly revenue exceeding 2 billion yuan for the first time, accounting for one-third of the company's total revenue. This growth was mainly driven by the increase in platform traffic and the gradual release of user commercial value. B站's average user age has increased to 25 years, a demographic with rapidly growing and releasing consumption needs and capabilities.
In terms of AI applications, Chen Rui stated that B站 is renowned for its high-quality and diverse AI content, thanks to the generally high educational level of its users and the high proportion of users from first- and second-tier cities. Statistics show that more than 80 million users visit B站 each month to browse AI-related content, which is not only professional but also profound.
B站's advantages in the AI field are reflected in three aspects: firstly, B站 attracts the most AI-interested audience in China; secondly, it gathers the largest number of AI practitioners in China; and lastly, over 90% of domestic AI companies choose to interact with users on B站.
B站 has been exploring the application of AI in content creation for a long time, with users creating and disseminating works using AI technology. For example, in 2023, Sun Yanzi's AI image became very popular on B站, and she herself publicly supported the use of AI to simulate her voice. In addition, B站 has witnessed the birth of a large number of AI music compositions, animations, and short dramas, and has held an AI short drama competition, attracting many creators to participate. B站 has also added AI-assisted features to its creation tools, which have been well-received by UP owners.
For B站 creators, AI technology has greatly improved creation efficiency and release frequency, enabling more ordinary users to become creators through AI technology, which has had a positive impact on the content supply side. In terms of user experience, B站 has introduced an AI search function for all users, allowing them to directly obtain knowledge-related answers or evaluation results. B站 has also launched a practical AI translation function that can translate videos in minority languages including Tibetan, as well as an AI summarization function to help users quickly understand video content.