For example, we are already among the top five market player in verticals like game and 3C and digital products. Another example would be for FMCG ads, which are part of young generation necessity continue to grow, such as food and beverage, skin care and cosmetics. And as we move forward, we expect verticals like automotive, baby and maternity and home decor and appliances will have great potential especially as the young generation continue to grow with Bilibili as they enter into different life stages. And in Q3, actually, the automotive sector grew over 80% year-on-year within Bilibili. You mentioned about the content e-commerce. I would rather define the content commerce in Bilibili ecosystem and consumption and transaction scenario. First of all, it’s an infrastructure for us and it is also one of the very important scenarios for commercialization.
In 2023, we plan to further connect the transaction scenario with the Bilibili community and with advertising business. For example, in the past two quarters, together with Taobao, Tmall, Jingdong, Pinduoduo and other brand advertisers. We are already starting to explore the seating consumption and transaction model, including video and live broadcasting-based e-commerce as well as traffic acquisition within the Bilibili community. With that, we hope to explore the different commercial values of Bilibili, unique consumption and transaction scenario. During this year’s Double 11 despite the weakened macro environment, we still recorded a 47% year-on-year growth for our advertising revenue, among which the performance-based format of advertising revenue grew over 80%.
And in the future, we are looking to further expand and be very open about the transaction and consumption scenario. We welcome more of the brand advertiser to join us to further explore the commercial value within our unique ecosystem. As for the pre-roll, which is an old fashion format of advertising, actually only takes about 3% to 5% of the overall advertising market in China, and it’s declining rapidly, along with its unit price. We believe some people might have been overly optimistic about the pre-roll potential with the Bilibili. And most of the Bilibili content about 2 to 5 minutes long. If we add pre-roll to all of them, it will not €“ it will only generate very limited income but be extremely disruptive to user experience. We believe it will bring more harm than the goods, which we will be very cautious to try out.
I’ll give you some examples of how are we exploring the ad format that’s more adaptive to Bilibili’s ecosystem. For example, we can explore within the video player frame, such as metaverse, bullet-chat ads and other innovative formats within the player frame, or we can explore the model that combines performance-based ads with both app download conversion module and CPS, we call it a game partner model. And another example would be the Story Mode ads, which we believe is a very good format to carry on the performance-based ads. And as the Story Mode traffic continued to grow will open us more €“ it will open more ad inventory to us. Lastly, would be the content e-commerce plus user acquisition within the Bilibili model. We will continue to refine and optimize our goal to improve those performance-based ad efficiency.
All of above-mentioned formats of advertising, we believe will generate higher income as well as it’s more sustainable to our overall community. We are still very, very confident that our app business in 2022, 2023 will continue to outperform the overall industry and we will continue to take on more market share. Thank you.
Juliet Yang: Operator, next question please.
Operator: Thank you. We will now take our next question. Please standby. This is from the line of Lincoln Kong from Goldman Sachs. Please go ahead.
