Streaming services: Sony invests $400m in Chinese video platform Bilibili
*This is a machine-translated text of the original article.
Sony announced that Sony Corporation of America, its wholly owned subsidiary, signed a contract to acquire 4.98% of Bilibili Inc, China’s entertainment platform, through subscription for new Class-Z common stocks amounting to about US$400 million (about 43.6 billion yen).
Bilibili is a platform-based company strongly supported by Generation Z (born between 1990 to 2009) which is the main consumer driver in the Chinese online entertainment market. The company’s main businesses are mobile games, live streaming, and streaming of videos and animations created by professional users.
Sony has positioned China as one of its strategic hubs in the entertainment field, making an investment as part of this effort.
While the two companies have also agreed to form a partnership, Sony is considering future collaboration in animations and mobile games.
The acquisition will have a negligible impact on Sony Corporation’s consolidated results for Fiscal Year 2020.
Original Text: https://ampmedia.jp/2020/04/10/sony-bilibili/