Bilibili
| Company type | Public company |
|---|---|
| Industry | Online video platform, streaming service |
| Predecessor | Mikufans.cn |
| Founded | June 26, 2009 |
| Founder | Xu Yi |
| Headquarters | Shanghai , China |
Area served | China, Southeast Asia (sports content) |
Key people | Chen Rui (CEO and chairman) |
| Products | Online video hosting, live streaming, premium membership subscription, esports teams, original content production |
Number of employees | 9 (in 2012) |
| Website | www |
Bilibili (presented in all lowercase), often referred to as B Site, is a Chinese online video platform headquartered in Shanghai where users can upload, watch, and comment on videos with overlaid annotations.
The platform offers diverse content including anime, music, dance, science and technology, movies, drama, fashion, and video games. Initially targeting the niche market of animation, comics, and games, Bilibili has grown since the mid-2010s into a prominent Chinese over-the-top streaming service featuring video on demand such as documentaries, variety programs, and original productions.
Renowned for its scrolling danmu (, "bullet curtain") comment feature, Bilibili also provides a live streaming function that facilitates real-time engagement between viewers and streamers. The platform primarily hosts ACG-themed mobile games like Azur Lane and the Chinese adaptation of Fate/Grand Order. By the third quarter of 2022, it reported approximately 332.6 million average monthly active users, including 28.5 million subscribers who pay for premium content.
Establishment and initial growth (2009–2013)
Drawing inspiration from video sharing websites Nico Nico Douga and AcFun, Xu Yi—known online as "⑨bishi"—founded Bilibili on June 26, 2009.[1] Originally a user of AcFun, Xu sought to build a more advanced platform. He first created Mikufans.cn, catering to the Hatsune Miku fanbase.[2] This project evolved into a video sharing site which officially launched as Bilibili on January 14, 2010, its name derived from Mikoto Misaka from the anime A Certain Scientific Railgun.[3] Anime motifs are deeply embedded in Bilibili’s brand identity, with annual celebrations of Mikoto Misaka’s birthday on May 2.
After losing control of the domain bilibili.us in 2011 due to registrar limitations, the platform transitioned to bilibili.tv on June 25, 2011. Xu Yi then founded Hangzhou Huandian Technology (幻电), based in Hangzhou, Zhejiang province, to manage and develop the service. In April 2012, Bilibili collaborated with Nico Nico Douga to stream Chinese-subtitled episodes of the anime Fate/Zero starting April 7.[4] However, following censorship after three episodes for unauthorized internet distribution, Hangzhou Huandian Technology was fined ¥10,000.[5]
To address legal compliance concerns, from August 2012 Bilibili began displaying logos indicating association with state-owned Shanghai Media Group and shared content provider licenses. Furthermore, anonymous visitors were redirected to a subdomain operated by Shanghai Media Group’s broadband subsidiary (bilibili.smgbb.cn).
Leadership transition, growth, and acquisitions (2014–2018)
In November 2014, Chen Rui assumed the roles of CEO and chairman of the board at Bilibili. Having been an early community participant and investor since 2014, Chen became the company’s fifth official member.[6]
By October 2016, Bilibili had become sponsor of the Shanghai Sharks basketball team, which was later renamed Shanghai Bilibili to reflect its Shanghai roots.Cite error: The opening <ref> tag is malformed or has a bad name In December 2017, Bilibili acquired the IM e-sports team specializing in League of Legends, rebranding it as Bilibili Gaming (BLG).Cite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad name In January 2018, Bilibili secured broadcasting rights for the spring season of LPL as well as for the League of Legends World Championship and League of Legends Rift Rivals tournaments.Cite error: The opening <ref> tag is malformed or has a bad name Subsequently in September 2018, Bilibili purchased the Hangzhou Spark, an Overwatch League team competing during the 2019 season.[7]
In March 2018, Bilibili submitted an application for an initial public offering aiming to raise up to US$0.4 billion on the New York Stock Exchange (NYSE), ultimately listing on the NASDAQ on March 28, 2018.Cite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad name
Collaboration with Sony, original content creation, and dual stock listings (2019–2021)
On 23 March 2019, Bilibili revealed a collaboration with Funimation, the American anime distributor owned by Sony, to jointly license anime for both the U.S. and Chinese audiences. Subsequently, on 9 April 2020, Sony Corporation of America purchased a 4.98% minority interest in Bilibili for $400 million, valuing the company at approximately $8 billion. This investment led to an agreement between Sony and Bilibili to broaden their joint efforts in anime and mobile gaming within the Chinese market. Additionally, later in 2020, Bilibili Esports formed a partnership with Ping An Bank.
Bilibili ventured further into original content by co-producing the fourth season of Informal Talks and creating programs such as Rap for Youth in August 2020 and the voice actor contest Voice Monster in December 2020.
In September 2020, the platform introduced its Video Satellite feature. On 3 February 2021, Bilibili acquired Shanghai Yarun Culture Communications Co., Ltd., which owns the animation studio Haoliners Animation League.
On 23 March 2021, Bilibili announced intentions to raise $2.6 billion through a secondary stock offering on the Hong Kong Stock Exchange (HKEX), complementing its existing NASDAQ listing. The HKEX debut occurred on 29 March 2021 with shares priced at HK$790 each.
Features
Apart from serving as a video hosting platform, Bilibili’s standout feature is its real-time comment system that overlays user remarks as scrolling subtitles across videos, reminiscent of a danmaku shooter game. These "bullet comments," known as danmu (弹幕), come with subtitle customization options including style, format, and movement patterns. Users have the ability to produce translated subtitles or soramimi (misheard lyrics) captions and apply special effects through personalized subtitles. Furthermore, Bilibili offers "advanced subtitles," enabling users to manipulate video playback and dynamically adjust danmu via an ECMAScript-based API—this functionality is accessible only with authorization from the content uploader.
To post danmu, users must register, verify their accounts, and link a phone number. Comments generally scroll from right to left but can be turned off. There are three types of comments: rolling, top-fixed, and bottom-fixed. Unregistered users face a limit of 20 characters per comment; registered users may write up to 120 characters and customize comment size and color. Content creators have control over comments and can save or delete them as needed. The platform’s unique slang includes expressions like "2333" to denote laughter and "high energy alerts" (高能预警) used as spoiler warnings for upcoming exciting scenes.
Community interaction is further enriched through emojis and ASCII art, creating a distinctive culture where symbols convey emotions or humor—for example, emoticons expressing confidence or repeated exclamation marks indicating intense moments. These interactive tools boost user engagement and foster community bonds. Research indicates that bullet comments serve both entertainment and self-expression purposes during viewing sessions; however, China’s Ministry of Culture has criticized this feature for sometimes facilitating hateful commentary.
Operations
Back in 2012, Bilibili’s team consisted of nine individuals proficient in Japanese language and culture. Among them were two web developers including founder Xu Yi, while the remainder worked as editors and moderators. The platform operates free of charge and primarily generates income through webpage advertisements and affiliate marketing.
Membership
While the majority of Bilibili's content is freely accessible without registration, certain videos require users to hold a membership. Access to specific materials is restricted through the Chengbao system, which mandates paid entry. Additionally, membership is a prerequisite for uploading videos or posting comments. To uphold community standards and effective moderation, Bilibili imposes limits on membership availability. Starting in March 2013, the platform introduced invitation codes, with new users needing to pass a test—primarily focused on ACG (Anime, Comics, and Games) knowledge—to qualify as premium members. The structure of this examination has evolved over time; notably, in 2017, a 100-question format was reinstated that also covers proper online commenting behavior.
Subscription
Bilibili rolled out its premium membership subscription service on 9 October 2016, priced at approximately ¥25 (around US$2) monthly for extended plans. Subscribers benefit from features including access to high-definition video streams, early viewing privileges for selected content, and exclusive discounts on games owned by Bilibili. Beginning in January 2018, premium members were granted early episode releases for certain animated series, whereas standard users must wait a week before viewing.
Account Suspension
To better manage content and user conduct, Bilibili implemented an account suspension system on 26 February 2017. Moderators have the authority to remove inappropriate comments and impose temporary or permanent bans depending on the nature and severity of offenses. On 15 June 2017, the platform established a "discipline committee," enabling community members within specific groups to review violation reports and vote on corresponding disciplinary actions.
Upload and Review
Bilibili enforces a policy against duplicate video uploads but permits multiple resolution versions of identical content. Similar to other Chinese video-sharing platforms, it maintains rigorous censorship standards; since 10 February 2017, only verified organizations are authorized to upload political content, while individual users are prohibited from posting politically related videos.
Bilibili Sports
The sports branch of Bilibili, known as Bilibili Sports, acquired broadcasting rights for the Meiji Yasuda J1 League across Southeast Asia—excluding Thailand—starting with the 2024 season. In the same year, this division also streams events such as HIGHSPEED Étoile and Formula One races.
Community
Bilibili's official mascots—named "22" and "33"—are chosen through community elections and represent the platform’s identity as Bili-tans. The site has fostered several affiliated communities including Corari (a collaborative project community now offline), DrawYoo (a creative drawing hub), and The Ninth Channel (a support-oriented forum).
Games
Subsidiaries under Bilibili have launched various prominent titles in China’s gaming market:
- Bilibili
- MICA Team / Sunborn Network Technology
- (Wuhu) Sharejoy Network Technology Co. Ltd
- Fate/Grand Order
- Azur Lane
- Bible Bullet
- I-Chu
- Fantasy Hunter Story
- Bilibili HK Limited
- Shanghai Hode Information Technology
- Ark Order
Cai Xukun
In January 2019, Chinese entertainer Cai Xukun was named as an official NBA ambassador, sparking debate. A widely circulated introduction clip from Idol Producer showed him playing basketball, which inspired numerous parody videos on Bilibili. Cai responded by issuing legal notices to have these videos removed; however, Bilibili considered the parodies lawful and declined to take action against the uploaders. The phrase "sing, dance, rap, basketball" also gained significant popularity. To address the resulting criticism and reduce spam, Bilibili temporarily suspended new user verifications.
Servers in Taiwan
In September 2019, it was revealed that Bilibili had been leasing servers unlawfully in Taiwan. Following exposure by a Taiwanese think tank, the National Communications Commission directed the service provider Chief Telecom to terminate this arrangement. Video-on-demand platforms based in Mainland China are prohibited in Taiwan due to concerns related to national security.
Source code leak
A repository titled "Bilibili website backend codes," containing numerous usernames and passwords, appeared on GitHub in April 2019. Although GitHub removed the repository citing "excessive use of resources," copies continued to circulate on other websites. Bilibili clarified that the leaked code was from an outdated version of their site and confirmed that protective measures had been implemented to safeguard user information.
996 work schedule
On 7 February 2022, influencer Wang Luobei shared on Weibo news about the death of a content moderator at Bilibili’s Wuhan branch during the Lunar New Year holiday, with overwork suspected amid China's widespread 996 work schedule culture in technology firms. Bilibili stated that the employee had experienced health issues since 4 February but had completed a routine nine-hour shift and denied that excessive labor caused the death. This account was challenged by a Weibo user claiming to be the deceased’s cousin, who asserted that he remained in Wuhan for work throughout the holiday.
Authority misuse
On 12 January 2025, a Bilibili user reported that an employee exploited their authority to insert harmful code into the platform’s web interface, leading to account malfunctions and persistent "Your account has been banned" notifications. Chat records revealed that the employee, Ni (倪袁成), engaged in doxxing and retaliatory actions following a dispute.
Bilibili acknowledged the incident on 16 January, dismissed the employee involved, reported the matter to regulatory bodies, removed the malicious code, disciplined relevant supervisors, and compensated the affected user with a complimentary one-year premium membership.
Bilibili Video Satellite
Unveiled on 15 September 2019 and developed by CIOMP, the Bilibili Video Satellite represents China’s first popular science remote sensing satellite designed specifically by an internet company. Through this project, Bilibili seeks to assist content creators in producing videos focused on technology and humanities topics, aiming to inspire curiosity and exploration among young people in China.
Bilibili Elementary School
On 26 June 2019, Bilibili collaborated with Teach for China to found an elementary school within a village in Dali, Yunnan. The company contributes by supporting teacher training, improving school facilities, and providing equipment. Utilizing its resources, Bilibili offers curriculum materials in arts, science, and innovation fields. This effort enhances video-based educational content and promotes well-rounded literacy development at the school.