On May 19th, Bilibili Inc. (referred to as "Bilibili") released its financial results for the first quarter ended March 31, 2026.

For the first quarter of 2026, Bilibili's total revenue reached 7.47 billion yuan, a 7% increase year-on-year. The average monthly paying users surpassed 34 million, also growing by 7% year-on-year. The revenue structure remained healthy and diversified, with value-added services, advertising, games, and IP derivative & other businesses contributing 39%, 35%, 20%, and 6% of the total revenue, respectively.

Specifically, in the first quarter, Bilibili's advertising revenue amounted to 2.59 billion yuan, marking a 30% year-on-year increase and maintaining a high growth rate for 13 consecutive quarters. The top five industries contributing to advertising revenue were gaming, internet services, digital appliances, e-commerce, and automotive.

In the gaming segment, revenue for the first quarter was 1.52 billion yuan. Bilibili continued its strategy of focusing on high-quality games and long-term operations. Titles such as "Fate/Grand Order" and "Azur Lane" maintained steady and healthy revenue streams. "Three Kingdoms: Strategy for the World" launched in overseas markets and consistently ranked within the top four on the iOS sales charts following its seasonal updates. The collaboration between "Escape from Yakov" and "Escape from Tarkov" drove sales to exceed 4 million units.

Regarding value-added services, revenue for the quarter reached 2.91 billion yuan. The live streaming business sustained stable growth, with gross margin steadily improving. By the end of the first quarter, the number of premium members reached 24.77 million, with approximately 80% being annual subscribers or users with auto-renewal enabled.

Building on this foundation, Bilibili's profitability continued to strengthen. In the first quarter, the company's gross margin increased for the 15th consecutive quarter, reaching 37.1%. The adjusted net profit was 590 million yuan, reflecting a 62% year-on-year growth.

In terms of user metrics, the first quarter saw Bilibili's daily active users reach 115 million, with monthly active users at 376 million. The average daily usage time per user was 119 minutes. By the end of the quarter, the number of formal members stood at 291 million, and the 12-month retention rate remained stable at 80%.

Bilibili's Chairman and CEO, Rui Chen, stated, "This quarter, we once again demonstrated the value of a high-quality content community. While steadily growing both our user base and revenue, Bilibili achieved a new high in average daily usage time. In a thriving and healthy community, creators are the foundation. Our most important task is to serve creators well and bring more high-quality content to users, thereby achieving long-term community growth and revenue enhancement."