Sony Buys $400M Stake in Chinese Online Entertainment Platform Bilibili

Sony America will pay $400 million for 5% of Bilibili, the Chinese online entertainment platform, said Sony’s Japanese parent Thursday. Bilibili built a “strong user following” among Chinese Gen Z consumers 30 and younger who are “driving consumption of online entertainment,” said Sony. The buy is in keeping with Sony’s strategy of emphasizing China as “a key strategic region in the entertainment business,” it said. They agreed to “pursue collaboration opportunities” in animation content and mobile game apps. Bilibili CEO Rui Chen said the agreements come as "we increase our domestic stronghold in animation and mobile games." Bilibili, based in Shanghai, reported $288.4 million in 2019 revenue, a 74% increase.