Business
19:52, 11-Oct-2018
China's top anime streaming site Bilibili to set up e-sports company
Updated
19:51, 14-Oct-2018
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China's top anime streaming site Bilibili announced on Thursday that it's setting up Bilibili Gaming (BLG), an electronic sports company, to take a bite of the global e-sports market.
The new company will take charge of Bilibili's e-sports business and bolster the development of Bilibili the parent company.
Chen Rui, CEO of Bilibili, will also work as chairman of the new company. Chen Youyou, a seasoned manager in the game industry, was named CEO.
A day before the announcement, Bilibili Gaming stated that they had struck a deal with Clutch Gaming (CG) under the flag of Houston Rockets, and a friendly competition is around the corner.
A report on China's game industry indicates in the first half of this year, the actual sales revenue of China's e-sports game market stood at 41.79 billion yuan, with a year-on-year surge of 16.1 percent.
Bilibili's revenue in the second season shot up 76 percent to 1.027 billion yuan compared with the previous year, in which the e-sports sector carried a big weight over 700 million yuan, with a rise of 61 percent year-on-year.
Chinese tech behemoth Tencent Holdings will invest 317.6 million US dollars in Bilibili for a 12.3-percent stake in the company, the pair announced on October 3.