Home / Mobile / Sony invests $400M in Chinese entertainment platform Bilibili

Sony invests $400M in Chinese entertainment platform Bilibili


Sony said on Thursday that it is investing $400 million to secure a 4.98% stake in Chinese entertainment giant Bilibili.

10-year old Bilibili started as an animation site, but has expanded to other categories including e-sports, user-generated music videos, documentaries, and games. The service, which has amassed over 130 million users, has attracted several big investors over the years, including Chinese giants Tencent and Alibaba.

The announcement pushed Bilibili’s share up by 7.6% in pre-market trading. Sony has made the investment through its wholly-owned subsidiary Sony Corporation of America.

In a statement, Sony said the company believes China is a key strategic region in the entertainment business. BiliBili says it targets China’s Gen-Z. The vast majority of its users — about 80% — were born between 1990 and 2009.

The two companies have also agreed to pursue collaboration opportunities in the entertainment field in China, including animation and mobile game apps, they said.

You can read more about Bilibili’s business and dominance in China in my colleague Rita Liao’s piece here.



Source link

About admin

Check Also

5G, AI, cybersecurity and renewable energy set for investment boost under EU coronavirus recovery plan

The European Commission is proposing to direct billions of euros of financial relief into high ...

Leave a Reply

Your email address will not be published. Required fields are marked *