Caixin
Nov 18, 2021 08:15 PM
TECH

Chinese Streaming Giants’ Losses Grow Along With Their Revenues

Bilibili mainly makes money from value-added services, mobile games and advertising. Photo: VCG
Bilibili mainly makes money from value-added services, mobile games and advertising. Photo: VCG

Streaming media giants Bilibili Inc. and iQiyi Inc. have reported widening losses despite growing sales in the third quarter of this year, as both Chinese online video platforms grappled with a tighter regulatory landscape.

In the three months through September, Bilibili’s net loss attributable to shareholders swelled to 2.7 billion yuan ($416.9 million) from 1.1 billion yuan a year ago, even as total revenue grew 61% year-on-year to 5.2 billion yuan, according to its unaudited quarterly earnings report released Wednesday.

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