Sony Corporation buys $400m stake in Bilibili, a Chinese platform offering mobile games, livestreaming and video/animation.
Currently partially owned by Tencent and Alibaba, Sony invested 17.3 million shares in a 4.98% stake in the company, valuing Bilibili at $8 billion. Popular among Gen Z, Bilibili is a platform designed for a huge and growing livestreaming market, attracting over 130 million monthly active users.
Sony believes China is a key strategic region in the entertainment business, and this investment in Bilibili is in line with Sony’s strategy. Additionally, Sony and Bilibili have entered into a Business Collaboration Agreement, pursuant to which the parties agreed to pursue collaboration opportunities in the entertainment field in China, including animation and mobile game apps.Sony
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. We look forward to joining efforts on a broader scale to fulfill the tremendous and growing entertainment needs in China.Rui Chen, CEO, Bilibili