Bilibili records 70% revenue surge

Bilibili Inc, a popular entertainment online platform among young Chinese, on Thursday reported 70 percent jump in revenue in the quarter ended June.

Total net revenues, generated from running mobile games, membership fees and advertising, reached 2.6 billion yuan ($370.5 million), whereas average daily active users, a key indicator of user loyalty, reached 50.5 million, up 52 percent from same period last year.

"During the second quarter, we launched several successful marketing campaigns to raise brand awareness and improve brand perception, while actively expanding our content offerings, all of which led to our fast and healthy user growth," said Bilibili Chairman and CEO Chen Rui in a statement.

"We believe the content pool we offer is deep and diverse enough to host a much wider user base, and our friendly and vibrant community can retain those newcomers. "

Bilibili is shaping up to be the new battlefield for marketers in a bid to lure the new generation, self-expressive younger customers. Advertising revenue jumped 108 percent year-on-year to 348.6 million yuan from April to June.

But adjusted quarterly losses expanded to 475.7 million yuan from 256.1 million same time last year, putting further pressure on the company's monetization efforts.