Sponsored By

Sony Buys $400M Stake in Bilibili

Sony is set to pay $400 million for a minority stake in Bilibili, a Chinese online entertainment platform.

License Global

April 9, 2020

1 Min Read
bilibili.png

Chinese online entertainment platform Bilibili is planning on selling Sony a $400 million minority stake of its company, valued at $8 billion.

According to Variety, the transaction will be conducted through Sony Corporation of America, and will see Sony buy 17.3 million shares of Bilibili, just under 5 percent of Bilibili’s capital. The transaction will be an all-cash exchange.

Upon completion, the two companies say that they will sign an agreement to pursue collaboration opportunities in Chinese entertainment, including in the anime and mobile games sectors.

“We are excited to partner with Sony, the world’s leader in entertainment and technology,” says Rui Chen, chairman of the board and chief executive officer, Bilibili. “The strategic investment and business cooperation further align our goals to bring best-in-class content offerings and services to our users, as we increase our domestic stronghold in animation and mobile games. We look forward to joining efforts on a broader scale to fulfill the tremendous and growing entertainment needs in China.”

Bilibili is generally known as a hub for user-generated short-form content, but it has recently shifted to include more professionally generated content, longer-format films and documentaries. Recently, the company partnered with Discovery and China Intercontinental Communication Center for “COVID-19: Battling the Devil,” a documentary covering China’s battle with the novel Coronavirus.

About the Author(s)

License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

Through its print edition, website, daily e-newsletter and event publications, License Global reaches more than 150,000 executives and professionals in all major markets. The magazine also serves as the official publication for the sector’s trade events, which include Licensing Expo, Brand Licensing Europe, Licensing Expo Japan, Licensing Expo Shanghai and the Licensing Leadership Summit.

Subscribe for updates directly into your inbox.

 

 

 

Subscribe and receive the latest news from the industry Article
Join 62,000+ members. Yes, it's completely free.

You May Also Like