$BILI CLUBBBBBBBIN’

well it was going to be a missive, but time is of the essence. so here are some notes on our favorite purveyor of ‘peasant porn’ — hat tip to mr andrew of the hallowed halls.

notes:

its not so straight-forward. rui chen, who is part of the internet mafia in china is ceo, not founder. he was early at kingsoft, for some internet history. baba and tencent have partnerships/stakes. the community is highly guarded. one has to pass a 100 question test on various matters to gain full membership. or be invited by a full member. this skews the community to more legit than general degen peasant porn upload sites. total MAUs to 127.9 million, up 38% from the same period last year. growth rate for mobile MAUs even more accelerated, reaching 114.2 million in the third quarter, up 43% year-on-year. big risk is user flight, revolt. they certainly have unique content, created by users. its abjectly influenced chinese internet meme culture with ‘auto-tune-remixes’ and bullet screens (albeit that was ripped from ‘ac fun’ where the founder was a user and got frustrated with the degeneracy. so — he started bili — pronounced beelee phonetically. its a sound that a manga character makes (for trivia). bili has not tried to monetize its community, and hence has had 80% retention (self-declared). 50% of revs come from mobile gaming and rest from streaming, ads, ecom and misc. one in three gen z-ers are active on the platform monthly, described as those born post 1990, and they spend an average of 83 mins on site. fate grand order (mobile game) distribution got them from $20mil to $300mil revs in 2 years. risky to depend on two hit games. company has not really defined itself, but has gaggle of loyal users. try to monetize them, and they may revolt. poof. bili to 0.

ps for more on ac fun