Chinese video-sharing platform Bilibili restructures content units, bets on live streaming amid pressure to turn a profit
- The company set up a new unit to help its three million content creators make money, and appointed a new executive in charge of video game commercialisation
- Bilibili narrowed its net loss by 36 per cent in 2023 to US$677.6 million compared to the previous year, while revenue increased 3 per cent to 22.5 billion yuan
Chinese video-sharing platform Bilibili has restructured its content units and is doubling down on the live-streaming business, as the US and Hong Kong-listed company struggles to make a profit.
Bilibili recently revamped its major operations department and separated multiple live streaming-related units, forming a new live-streaming centre, while also ramping up commercialisation of its content creator and video gaming businesses, according to a report by Chinese media LatePost.
The company also set up a new unit to help its three million content creators make money, and appointed a new executive to take charge of its video gaming commercialisation unit, according to the LatePost report on Monday.
The changes were confirmed to the South China Morning Post by people familiar with the matter, who asked not to be identified.
The moves mark the latest in a series of efforts by the Shanghai-based video platform to adjust and consolidate its assets over the past two years, as it faces mounting pressure to turn a profit since going public on Nasdaq in 2018.
They follow a previous round of key personnel changes at core units of Bilibili, such as live streaming and marketing, as reported by Chinese media Jiemian in January.
