Sony to invest $400 mil. in Chinese online entertainment platformer Bilibili
TOKYO, NNA – Sony Corp. will invest $400 million in Chinese online entertainment platform operator Bilibili Inc. in a bid to further expand its entertainment business through collaboration in the world’s most populous nation.
Sony Corporation of America, its 100% subsidiary, has sealed a deal to acquire a 4.98 percent outstanding share in the Shanghai-based, Nasdaq-listed online entertainment giant, Sony said in a statement on Friday.
With the massive cash investment, the Japanese electronics-to-entertainment business group is gearing up to promote its entertainment contents, such as animation and mobile games, while seeking a chance to develop locally suited contents with Chinese creators, Sony spokesman Takashi Iida told NNA on Friday.
Bilibili, which offers online games, videos, animations and live broadcasting, mainly attracts China’s Z-generations, young people born between 1990 and 2009, Sony said in a statement.
The Chinese online service firm saw its average monthly active users reach 130.3 million in the October-December quarter last year, up 40 percent from a year earlier. Total net revenue for the full year of 2019 jumped 64 percent on year to 6.78 billion yuan ($964 million), according to its financial statement.
“The strategic investment and business cooperation further align our goals to bring best-in-class content offerings and services to our users, as we increase our domestic stronghold in animation and mobile games,” said Rui Chen, chairman and CEO of Bilibili.