First quarter results are in for video and gaming platform Bilibili: while the company reported RMB 150 million in losses, it outperformed analyst expectations and saw gains in revenue from its live-streaming business and new e-commerce platform. Along with a new monthly active user (MAU) high of 101 million, revenue also reached RMB 137 billion, an increase of 58% from the same period last year.

The site has long held a special place in China’s entertainment ecosystem, appealing to a younger audience with cartoon- and anime-focused content. Much of that content is also user-generated; Bilibili estimates that in the first quarter, 89% of video traffic was due to “professional user-generated video.” Some 88.6 million of its MAU access the platforms from their phones, showing a marked preference for mobile.

The number of monthly paying users grew to 5.7 million, rising 29.5% sequentially. According to company chairman and CEO Chen Rui, daily active users surpassed 30 million for the first time. In addition, daily average time spent on the platform skyrocketed to 81 minutes from just five last year.

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Bailey Hu

Bailey Hu is based in China’s hardware capital, Shenzhen. Her interests include local maker culture, grassroots innovation and how tech shapes society, as well as vice versa.