Value-Added Services was Bilibili’s largest product and service line in fiscal 2025, bringing in $11.93B of $30.35B (39%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Value-Added Services | $8.72B | $9.91B | $11.00B | $11.93B | ||||||
| Value-Added Services (Formerly Known As Live Broadcasting & Vas) | — | — | — | — | ||||||
| Advertising | $5.07B | $6.41B | $8.19B | $10.06B | ||||||
| Mobile Games | $5.02B | $4.02B | $5.61B | $6.39B | ||||||
| Mobile Game | — | — | — | — | ||||||
| Ip Derivatives & Others | $3.10B | $2.18B | $2.03B | $1.97B | ||||||
| Ip Derivatives & Others (Formerly Known As E-Commerce And Others) | — | — | — | — | ||||||
| E-Commerce & Others | — | — | — | — | ||||||
| Live Broadcasting & Other Vas | — | — | — | — | ||||||
| Live Broadcasting & Vas | — | — | — | — | ||||||
| Total | $21.90B | $22.53B | $26.83B | $30.35B |
Bilibili brought in $30.35B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 13.1% from $26.83B in fiscal 2024. Value-Added Services was the largest at $11.93B (39.3%), ahead of Advertising at $10.06B (33.1%) and Mobile Games at $6.39B (21.1%). The remaining line, Ip Derivatives & Others, brought in $1.97B.
Compared with fiscal 2024, Advertising grew fastest, up 22.8% to $10.06B, while Ip Derivatives & Others fell the most, down 3.3% to $1.97B. From fiscal 2022 to 2025, combined revenue from these lines grew from $21.90B to $30.35B, a compound annual growth rate of 11.5%. Value-Added Services' share held steady at about 39.3%.
Third Parties was Bilibili’s largest revenue line in fiscal 2018, bringing in $3.69B of $4.13B (89%).
| Customer | FY 2016 | FY 2017 | FY 2018 |
|---|---|---|---|
| Third Parties | $522.94M | $2.47B | $3.69B |
| Company & Its Subsidiaries | — | $22.75M | $443.41M |
| Total | $522.94M | $2.49B | $4.13B |
Bilibili brought in $4.13B from its two revenue lines in fiscal 2018, the year ended December 31, 2018. That was up 66.2% from $2.49B in fiscal 2017. Third Parties was the largest at $3.69B (89.3%), ahead of Company & Its Subsidiaries at $443.41M (10.7%).
Compared with fiscal 2017, Company & Its Subsidiaries grew 1,848.9% to $443.41M and Third Parties grew 49.7% to $3.69B.
Bilibili began breaking out Company & Its Subsidiaries in fiscal 2017, when it brought in $22.75M.
Bilibili (BILI) reports its revenue by product and service and by customer. In fiscal 2025, Value-Added Services was its largest product and service line, bringing in $11.93B (39.3% of the total), followed by Advertising at $10.06B (33.1%).
Value-Added Services was Bilibili's largest product and service line in fiscal 2025, bringing in $11.93B, or 39.3% of the $30.35B total across its four product and service lines.
Third Parties was Bilibili's largest revenue line in fiscal 2018, bringing in $3.69B, or 89.3% of the $4.13B total across its two revenue lines.
Among Bilibili's product and service lines that make up at least 2% of revenue, Advertising grew fastest in fiscal 2025, up 22.8% from $8.19B to $10.06B.
Every figure comes from Bilibili's annual financial filings, as reported. Each line keeps the name Bilibili gives it, and years follow its fiscal calendar.
Bilibili's revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.