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Bilibili to Launch Satellite for Science Education Content

By Guan Cong and Denise Jia / Jun 03, 2020 06:45 AM / Business & Tech

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China’s popular video streaming platform Bilibili plans to launch a remote sensing satellite in late June for the production of science education content, the company said Monday.

Two hours after the Bilibili announcement, its new video satellite account attracted 111,000 subscribers.

The company said the satellite account will stream science education videos based on massive remote sensing videos and pictures captured by the satellite.

The satellite, developed by Chang Guang Satellite Technology Co. Ltd., will join 16 other satellites launched by Chang Guang and will also play a role in emergency response, disaster prevention and urban construction, Bilibili said.

Bilibili didn’t disclose how much it invested in the satellite project. The company said the project is not meant to be a marketing campaign but aims to achieve revenue growth through content production.

Since the start of this year, Bilibili has launched several buzz marketing campaigns to expand awareness beyond its existing youthful user base. In the first quarter, the Nasdaq-listed company’s net loss widened 175% to 539 million yuan ($75.6 million), mainly due to huge increases in sales and marketing expenses. Its monthly active users jumped 70% year-on-year to 172.4 million while the number of monthly paying users more than doubled to 13.4 million.

The Shanghai-based company recently received a $400 million equity investment from Japan’s entertainment giant Sony, expanding the roster of its big financial backers that also include Tencent and Alibaba.

Contact reporter Denise Jia (huijuanjia@caixin.com) and editor Bob Simison (bobsimison@caixin.com)

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