According to news from the financial industry on September 14, it was revealed that Lu Fanxi, the former vice president of Bilibili, has resigned. According to relevant sources, there are two main reasons for Lu Fanxi's resignation: First, in terms of content, Station B hopes to

According to news from the financial industry on September 14, it was revealed that Lu Fanxi, the former vice president of Bilibili, has resigned. According to relevant sources, there are two main reasons for Lu Fanxi’s resignation: First, in terms of content, Bilibili hopes to adhere to the “high-quality strategy”, while Lu wants to try more content forms, so he will no longer continue after the contract expires. Renew the contract; secondly, due to personal health reasons, Lu hopes to rest for a while.

data shows that Lu Fanxi joined Bilibili in 2020 and became the leader of Bilibili Film and Television Production Center and Documentary Production Center. Among them, the documentary team's works include "But There Are Books", "Little Boy" won the "Best Documentary Series Award" at the 27th Shanghai TV Festival Magnolia Award, and "A String of Life" and other documentaries are deeply loved by Generation Z; At the same time, he also participated in the production of B station's self-produced dramas "Time Agent", "Ancient Acacia", "Sanyue Has a New Job", "Jiang Gong Ji", "Sudden Holiday", "Double Mirror", etc.

Before joining Bilibili, he served as the group vice president and chief producer of Youku Tudou, etc., and successively initiated and supervised the production of "Hip Hop Quartet", "Miss Puff", "Old Boy" micro film, "Wanwan" Famous homemade content such as "Unexpectedly" and "Detective Di Renjie". In addition, he also successfully planned the song "Little Apple" and promoted it as a "national divine song".

As of now, Lu Fanxi himself has not made a public statement about his resignation. The outside world is generally paying attention to his career trends after leaving Bilibili and how this will affect the layout and development of Bilibili in the field of film and television production.

Great Wall Securities Research Report stated that Bilibili adopts the content structure of “pugv+ogv”, of which pugv (professional user-generated video) is the cornerstone of Bilibili. Currently, it has formed an “up master to produce high-quality video content-attracting Fans and obtain positive feedback - a positive cycle that encourages up owners to produce more high-quality content. ogv (video generated by professional organizations) is high-quality copyrighted content, including animation, online dramas, documentaries and other long video content coverage. High-quality ogv content is not only It can provide rich materials for pugv's second-generation content, and at the same time, it can have a positive impact on the acquisition of new users at station b. It can also increase the retention rate of new users with the help of high-quality pugv content and realize the entire process of "new-retention" for users.

However, from the actual operation point of view, the "pugv+ogv" collaboration mechanism still has a long way to go before it can operate stably. On the one hand, the positioning of station B determines that its ogv works are often small and beautiful. Although they have a good reputation, they are difficult to become popular on the entire network, and their appeal and monetization capabilities are limited. On the other hand, with the advent of the live broadcast era, the threshold and cost for up owners to join live broadcasts are lower than following ogv's second-generation content, and monetization is more direct. Therefore, in terms of driving the role of up owners, ogv can be replaced Sex is increasing.

In addition, the cost of B station’s self-made OGV content and the purchase of copyrighted content are counted as “content costs” in the financial report, which is different from the “revenue sharing cost” spent to encourage the creation of up owners. Both constitute operating costs. important part.

In recent years, Bilibili has continued to improve its gross profit and reduce losses in its strategic layout. In the 2023 financial report conference call, Fan Xin, CFO of Bilibili, said, "In 2023, our content investment will pay more attention to ROI, and it is expected that the proportion of content costs in revenue will decrease." Therefore, it can also be found that since 2023, Bilibili's The amount of ogv content is gradually declining.

Reflected in the financial report, in the past two years, in addition to a certain increase in revenue sharing costs, other bandwidth costs and content costs have dropped significantly year-on-year. At the same time, revenue increased slightly year-on-year, which together led to a significant improvement in gross profit margin year-on-year. The second quarter financial report shows that the gross profit margin of station b in the second quarter of 2024 increased from 23.1% in the same period last year to 29.9% in this quarter, achieving the eighth consecutive quarter of month-on-month improvement.

According to Bilibili’s previous plan, the company will achieve nongaap breakeven in 2024.