And this demonstrates how our strategy is working, and we are increasing the supply side of the content. We are also exploring from the demand side to fine €“ to discover the users that they might be both interested in the same vertical of content, whether it’s in the format of video or it’s in the format of live broadcasting. And in the third quarter, we have seen the DAU penetration of live broadcasting continued to increase and the MAU for live broadcasting also recorded a 79% year-on-year growth. This is also very, very impressive growth. Last quarter, we have combined the operation of live broadcasting with the PUGV. And from an organizational perspective, it’s the same team that’s looking over the content creators operation as well as live broadcasting host operation.
And it’s also the same team that’s paying attention to user, which user is watching certain content category and what kind of live broadcasting content he or she might be interested in. We believe this change are really lining up and aligning our goals of our operation target at the same time need to increase our overall organization operations. And we are combining the operation for the same vertical in terms of live broadcasting and PUGV. And for example, in terms of the V-UP content categories, now we are opening up the video materials for video inventory to both Vtubers as well as the virtual life €“ virtual content creators. This has significantly increased the live broadcasting host frequency of opening up their live broadcasting program and increased our overall content supply.
Another example would be the knowledge sector. In the past, we might think that for the knowledge sector content creators, it’s difficult for them to monetize through live broadcasting. However, we have discussed in the law area or in the relationship areas, it’s very suitable for the live broadcasting host to connect directly with the participants and do a Q&A session. And actually, we have seen one live broadcasting host to gain their €“ gain her 1 million follower milestone just through the live broadcasting services. So, this will be another example after the inclusion of the two operations, we can explore new opportunities. As such, I am very confident as the integration further penetrates within the live broadcasting and PUGV, the live broadcasting revenue as well as its gross margin will continue to increase in 2023.
Juliet Yang: Back to you, operator. I think that’s about time for the Q&A session today.
Operator: Thank you. That does conclude the question-and-answer session. So, I would like to turn the conference back over to Juliet Yang for any additional or closing remarks.
Juliet Yang: Well, thank you once again for joining us today. If you have further questions, please contact me, Juliet Yang, Bilibili Executive IR Director or TPG Investor Relations. Our contact information for IR in both China and the U.S. can be found on today’s press release. Have a great day. Bye-bye.
Operator: Thank you. This does conclude the conference for today. Thank you for participating and you may now disconnect.
