Video Streamer Bilibili Posts Wider Loss as Costs Mount

China’s video-streaming website Bilibili reported a 2021 net loss of 6.8 billion yuan ($1.07 billion), more than double the previous year’s deficit, reflecting heavier spending to recruit new users in a more competitive and tightly regulated market.

The figure marked the biggest annual loss for Bilibili, a leading online community for China’s Generation Z. Total 2021 revenue was 19.4 billion yuan, up 61.6% from a year ago. Gross profit margin was 20.86%, compared with major rival iQiyi’s 11.9%, Shanghai-based Bilibili reported Thursday in its unaudited financial report.