At present, the biggest problem on the development of station B is still the loss.
On March 18, Beijing time, Bilibili (hereinafter referred to as B station) released the Q4 and full-year performance reports for 2019. According to the financial report, Station B’s revenue increased by 74% year-on-year, and its net loss was further expanded year-on-year. After the release of the financial report, the stock price of Station B once fell by more than 3%.
Into 2020, in fact, the stock price of station B is not small, and many voices are actively singing about the future development of station B. The rallying point of the stock price rise was after its first New Year’s Eve Party, the “Last Night” in 2019, and the market received rave reviews, which also led its stock price to rise along the way. At that time, the highest price of station B’s stock price was close to $ 30, and the market value was close to $ 10 billion.
In the Internet industry, station B has gradually moved from niche websites to the public, starting from the second element. The word “broken circle” last year has also become an important keyword for station B in 2019. After the Q4 financial report was released, what was the performance of station B’s lap? With the increase in performance, what big move does B have on the business? Station B, which has always emphasized “breaking the circle”, can it break into the circle in 2020?
Revenue increased 74% year-on-year, net loss increased 103% year-on-year
According to the financial report, in accordance with GAAP, the total net revenue of station B in the fourth quarter was 2.01 billion yuan; the net loss was 387.2 million yuan, a year-on-year increase of 102.9%, and the same period last year was 190.8 million yuan, a month-on-month It narrowed to 406 million yuan last quarter.
Perhaps due to the further expansion of the loss limit year-on-year. As of the publication of this article, the stock price at the B station was 23.41 US dollars, which fell 3.86% after the market and the market value was 7.941 billion US dollars.
(source snowball)
In terms of business revenue, game business revenueOn the other hand, year-on-year growth was 22% to 870 million yuan. Among them, non-gaming business revenue increased by 157% year-on-year to 1.14 billion yuan, accounting for 57% of total revenue. This is also the first time that station B’s non-game business accounted for more than half of the total revenue, which shows that station B is reducing its reliance on game business to play a further role.
Total net revenue in 2019 was RMB 6,777.9 billion (approximately $ 973.6 million), an increase of 64% over the same period last year. Net loss in 2019 was RMB 1,303.6 million (approximately $ 187.2 million), compared with a net loss of RMB 565 million in the same period last year.
From the financial report published by station B, we can see that although it has further expanded its loss year-on-year, the narrower chain ratio indicates that station B has already taken some measures to control cost; in addition, it exceeded 2 billion revenue for the first time in Q4. Gate, non-gaming business revenue performance is a big bright spot, which shows that station B’s initiative to actively develop non-gaming business last year is still useful.
Behind some bright data, we still can’t ignore the big problem that Station B is losing money and hasn’t realized profit, which may affect some investors’ judgment on it. Last year, station B’s general development was centered on attracting a wider user base. Breaking the circle has become the strategic development goal of station B. How did the performance of breaking the circle in station B in this quarter?
The station B’s ambitions are not limited to active users. UP masters are also the top priority.
In this quarter, the average monthly active users at station B reached 130.3 million, a year-on-year increase of 40%; the number of daily activities reached 37.9 million, a year-on-year increase of 41%; the average monthly paid user in Q4 reached 8.8 million, a year-on-year increase of 100%. Judging from the growth of these user data, they have all shown good year-on-year growth, and the break of the user layer at station B seems to be bringing results.
In the two-dimensional field, station B occupies an absolute position, but the growth value of this user base is obviously not attractive enough for investors. Station B must prove to investors that it still has good growth potential in the non-two-dimensional group. At this time, it is particularly important to break through the wall.
Last year, a series of moves in station B worked hard to get out of the lap. The New Year’s Eve event held at the end of the year was also considered by the outside world to be the most successful performance of the B station, marking a successful end for it in 2019. Behind station B’s breaking circle, the company is an important impetus for the company to try to break through the tens of billions of dollars mark, giving investors more imagination.
From the layout of station B, in order to attract more users outside the second dimension, it took a lot of effort to buy a lot of IP episodes on the content, such as “Harry Potter” series, Nolan version of “Batman “,” The Detective Sherlock Holmes “and so on. These large-scale film and television works are completely out of touch with the two-dimensional culture, but the film and television circle has considerable dissemination, which can attract a wider user group for station B.
Although B has bought a lot of copyrights on the content, compared to Aiyou Teng, there are still many shortcomings in content resources. At the same time, B station is currently facing many cultural copyright issues and other risk issues. How to make up for some shortcomings in the content resources in the future, and even participate in the purchase of some popular dramas may be an important measure to snatch more users.
The breakout of station B must not only increase the scale of active users, but also further strengthen its competitive barriers on the UGC content end, and attract more creators to produce food for station B. The Q4 quarterly report revealed that the number of monthly active UP main stations in station B exceeded 1 million, an increase of 80% year-on-year; the average monthly submission volume was 2.8 million, an increase of 66% year-on-year. From a per capita perspective, the main monthly production volume of a single UP is about 2.8 videos, which is not high, but these contents account for 91% of the total platform playback. It can be seen that the bond maintained by the users of this platform is this UP main group.
The content created by many UP masters has become an important resource output for Station B, which is also its biggest advantage in competing with Aiuteng. Many “Internet celebrities” on Youtube bring not only low advertising revenue to the platform, but for station B, it also wants to create a more diverse high-quality UP main group on the platform. Last year, station B also took a lot of measures to support UP owners. In addition to the increase in the amount of subsidies, it also actively held the Top 100 UP awards ceremony to increase their popularity and influence.
The huge UP masters not only attract more users for grain production at station B, but they can also bring growth to the e-commerce business at station B. UP owners such as Xu Da SAO and Yeshi Brother on the platform have tried to insert product links in the video, plus “member purchase” focusing on two-dimensional products.
Among these UP hosts, we see that in addition to ordinary users, more and more official and mainstream platforms and institutions are also actively joining the B site. For example, recently, Alibaba Cloud, Huayao, Tmall, Alipay, Alibaba, Hema, Xianyu, Taobao, etc. have officially debuted in the form of “men’s group”, or sell cute or ghost animals or CP, mixed with Feng Shui on the B station Up. In the third quarter, the average number of active UP masters increased by 93% year-on-year to 1.1 million, of which the number of UP masters over 10,000 fans increased by 75% year-on-year.
Perhaps seeing B ’s potential for user growth. Prior to the Q4 earnings report, Tencent already held 43.749 million Class Z ordinary shares through its subsidiaries, with a stake of 18%. This also reflects from the side that mainstream funds represented by Internet technology leaders are optimistic about station B.
B station breaks the circle not only allows it to have greater imagination in terms of user growth, but also allows it to escape from revenueWith a one-way structure dependence, a comprehensive flowering path has emerged in the business. What is the growth breakthrough in the business?
The revenue structure of station B is getting closer to health. Does the business disruption bring new momentum to station B?
In this quarter, the growth rate of game business revenue at station B continued to slow down, with revenue of 930 million yuan in the previous quarter. In terms of live broadcast and value-added services, station B’s revenue for the quarter was 570 million yuan, a year-on-year increase of 183%. Advertising business grew by 81% year-on-year to 290 million yuan, and it was a month-on-month increase, from 250 million yuan in the previous quarter. Revenue from e-commerce and other businesses reached 280 million yuan, a year-on-year increase of 241%. From the perspective of revenue ratio, non-gaming business revenue exceeded gaming revenue for the first time.
Although gaming is still the largest business revenue of station B, its year-on-year growth has slowed down, and the ceiling of the gaming business has loomed. In the game, the growth space of station B has been squeezed. Tensions and Netease are in front of the mass scale. There are many game manufacturers in the back. On the strength and competitiveness, station B wants to grab more market dividend The difficulty is not small. At the same time, it is more important that the growth space of B standing on the game is actually limited to the imagination of investors.
I. The live broadcast is not limited to the game B station breaks the circle and tries to bring new power to the business
Behind the broken circle of station B, its business is also changing, gradually getting rid of its dependence on the revenue of the game business, and focusing on other businesses. In the past few years, Station B has been actively transforming, and one business has also been put on a more important position: live broadcast.
Last year, there were two moves in station B that caused a lot of sensation in the live broadcast industry. On December 3, 2019, Station B won the exclusive live broadcast rights of the League of Legends Global Finals in China from 2020 to 2022 at a price of 800 million yuan. With B station, there are also live broadcasts such as fast hands, fighting fish, tiger teeth platform. On the 19th of the same month, Station B signed anchor anchor Tim Timo at a price of 50 million yuan per year.
These two big moves demonstrate the determination of B to stand in the field of live broadcasting, and there must be a greater breakthrough in the live broadcast business. Station B must have a weight to gain. Among the popular anchors and hot IP matches The importance is self-evident. Feng Timo’s first show was broadcast on station B. The peak popularity of the live broadcast was as high as 10.237 million, the amount of barrage was 452,000, and the number of fans rose by over 400,000 within four hours of the live broadcast. 75 days after settling in station B,Has 2.01 million followers.
Second, the live broadcast can broaden the road to commercialization, but it is critical that the competition burns out at station B.
Broadcast station B wants to transform, expand the format of live broadcast, and broaden the road to commercialization. From the layout of station B, tapping the more value of the live broadcast business can have more possibilities for user paid conversions. At the same time, the live broadcast business has its own game business support. Breaking the circle to areas other than game live broadcast will To achieve a greater breakthrough in revenue for station B, after all, there is still a lot of room for the user group at station B to watch live broadcasts.
Although the live broadcast business is expected to help B station break through, but we must also see that the live broadcast industry is not an easy meat cake. In terms of investment, station B has a lot of money to get the right to broadcast the League of Legends, and a lot of money to dig Feng Timo are not low expenditures. Whether this part of the investment can make station B return as soon as possible or even bring higher returns or is tested by the market .
At the same time, it is worth noting that the current live broadcast market is also a market that is fiercely contested by various giants. Under the influence of YY, Huya, Douyu and other head platforms, grabbing live broadcast users has gradually become a stock stage. How post-entrants find their competitive advantage highlights its presence in the live broadcast industry. But at present, station B still needs to find a more suitable development strategy for its live broadcast business.
For station B, the purpose of breaking the circle is to let more users know about it and improve its industry presence. This is why there is more action on station B in terms of business and content. In 2020, station B will continue to break. How much influence will the circle have?
The epidemic is expected to bring a wave of new users. Can station B continue to break the circle in 2020?
The New Year’s Eve in 2019 will make station B “fame”, and many users on Weibo have called this night this is the “night best for young people” on station B. At this party, Station B combined many contents together, and was no longer confined to a two-dimensional single culture, but a multicultural combination covering film, music, sports, military, and other fields successfully borrowed content to get out of the circle. After the party, station B’s outreach to the public is already working, which is why the number of new users this quarter will perform well.
After entering January, the effects of winter holidays and epidemic prevention and control will be superimposed. This is likely to have some positive effects on the growth of users at station B in Q1 2020. In earningsDuring the conference call, Bilibili Chairman and CEO Chen Rui said that the total revenue in the first quarter was 2.15 billion to 2.2 billion yuan, a significant increase from the previous quarter. Among them, the e-commerce business will be significantly affected, but games and video membership payment services will have a positive impact due to the holidays. In short, the short-term impact on the overall B station is not large.
For station B, how to retain these new users is critical. To the outside world, the current B station needs to break through the 200 million user scale as soon as possible, which may also be a watershed affecting its market performance. But what we can see is that it is getting harder and harder for the user to grow on the video website platform. After the user bonus period, it is increasingly difficult to mine incremental users. A lot of effort.
At present, the biggest problem in the development of Station B is still the loss. This quarter, the amount of losses further expanded year-on-year, and it is likely that station B will still be a difficult point to achieve profit in the short term. For station B, the current development on several business lines is not dare to relax, and it is also increasing investment costs to strive for a greater breakthrough in user growth. This is obviously a lot of investment is still required, how to balance It is important that good spending further shrinks losses.
Before the earnings report, from the perspective of investment ratings, according to FactSet data, analysts generally rated the stock as “Buy.” Of the 23 analysts covering the stock, 2 gave a “hold” rating, 1 gave an “overweight” rating, 20 gave a “buy” rating, and no one gave a “sell” rating. With market sentiment optimistic that the sound of station B’s circle breaking is increasing, station B should still accelerate the circle breaking in 2020.
Conclusion
According to this financial report, the performance of B station in 2019 is generally good, and the circle break has begun. 2020 may be an important year for B station to break the circle. Can it be used by users? It is important to achieve greater breakthroughs in the past, to reverse the loss situation and even to become profitable. At the moment, many investment institutions are actively singing about the future development of station B. Whether station B can attract more investors, and the stock price has taken another step to test its strength and depth in the next circle.
According to the growth of MAU at station B, it is very likely that it will be worth more than 10 billion U.S. dollars in market value, but it is only a matter of time. Judging from the current development of Station B, the overall development is still relatively stable, but how to achieve greater breakthroughs in various businesses, further build a moat in Station B in various fields, and form a stable growth surface for Station B, which may stimulate the stock price growth Favorable measures.
Source of this article: Meigushe aims to help Chinese investors understand the world, focus on US technology stocks and China stocks, and friends who are interested in US stocks should follow us quickly
In this quarter, the average monthly active users at station B reached 130.3 million, a year-on-year increase of 40%; the number of daily activities reached 37.9 million, a year-on-year increase of 41%; the average monthly paid user in Q4 reached 8.8 million, a year-on-year increase of 100%. Judging from the growth of these user data, they have all shown good year-on-year growth, and the break of the user layer at station B seems to be bringing results.
In the two-dimensional field, station B occupies an absolute position, but the growth value of this user base is obviously not attractive enough for investors. Station B must prove to investors that it still has good growth potential in the non-two-dimensional group. At this time, it is particularly important to break through the wall.
Last year, a series of moves in station B worked hard to get out of the lap. The New Year’s Eve event held at the end of the year was also considered by the outside world to be the most successful performance of the B station, marking a successful end for it in 2019. Behind station B’s breaking circle, the company is an important impetus for the company to try to break through the tens of billions of dollars mark, giving investors more imagination.
From the layout of station B, in order to attract more users outside the second dimension, it took a lot of effort to buy a lot of IP episodes on the content, such as “Harry Potter” series, Nolan version of “Batman “,” The Detective Sherlock Holmes “and so on. These large-scale film and television works are completely out of touch with the two-dimensional culture, but the film and television circle has considerable dissemination, which can attract a wider user group for station B.
Although B has bought a lot of copyrights on the content, compared to Aiyou Teng, there are still many shortcomings in content resources. At the same time, B station is currently facing many cultural copyright issues and other risk issues. How to make up for some shortcomings in the content resources in the future, and even participate in the purchase of some popular dramas may be an important measure to snatch more users.
The breakout of station B must not only increase the scale of active users, but also further strengthen its competitive barriers on the UGC content end, and attract more creators to produce food for station B. The Q4 quarterly report revealed that the number of monthly active UP main stations in station B exceeded 1 million, an increase of 80% year-on-year; the average monthly submission volume was 2.8 million, an increase of 66% year-on-year. From a per capita perspective, the main monthly production volume of a single UP is about 2.8 videos, which is not high, but these contents account for 91% of the total platform playback. It can be seen that the bond maintained by the users of this platform is this UP main group.
The content created by many UP masters has become an important resource output for Station B, which is also its biggest advantage in competing with Aiuteng. Many “Internet celebrities” on Youtube bring not only low advertising revenue to the platform, but for station B, it also wants to create a more diverse high-quality UP main group on the platform. Last year, station B also took a lot of measures to support UP owners. In addition to the increase in the amount of subsidies, it also actively held the Top 100 UP awards ceremony to increase their popularity and influence.
The huge UP masters not only attract more users for grain production at station B, but they can also bring growth to the e-commerce business at station B. UP owners such as Xu Da SAO and Yeshi Brother on the platform have tried to insert product links in the video, plus “member purchase” focusing on two-dimensional products.
Among these UP hosts, we see that in addition to ordinary users, more and more official and mainstream platforms and institutions are also actively joining the B site. For example, recently, Alibaba Cloud, Huayao, Tmall, Alipay, Alibaba, Hema, Xianyu, Taobao, etc. have officially debuted in the form of “men’s group”, or sell cute or ghost animals or CP, mixed with Feng Shui on the B station Up. In the third quarter, the average number of active UP masters increased by 93% year-on-year to 1.1 million, of which the number of UP masters over 10,000 fans increased by 75% year-on-year.
Perhaps seeing B ’s potential for user growth. Prior to the Q4 earnings report, Tencent already held 43.749 million Class Z ordinary shares through its subsidiaries, with a stake of 18%. This also reflects from the side that mainstream funds represented by Internet technology leaders are optimistic about station B.
B station breaks the circle not only allows it to have greater imagination in terms of user growth, but also allows it to escape from revenueWith a one-way structure dependence, a comprehensive flowering path has emerged in the business. What is the growth breakthrough in the business?
The revenue structure of station B is getting closer to health. Does the business disruption bring new momentum to station B?
In this quarter, the growth rate of game business revenue at station B continued to slow down, with revenue of 930 million yuan in the previous quarter. In terms of live broadcast and value-added services, station B’s revenue for the quarter was 570 million yuan, a year-on-year increase of 183%. Advertising business grew by 81% year-on-year to 290 million yuan, and it was a month-on-month increase, from 250 million yuan in the previous quarter. Revenue from e-commerce and other businesses reached 280 million yuan, a year-on-year increase of 241%. From the perspective of revenue ratio, non-gaming business revenue exceeded gaming revenue for the first time.
Although gaming is still the largest business revenue of station B, its year-on-year growth has slowed down, and the ceiling of the gaming business has loomed. In the game, the growth space of station B has been squeezed. Tensions and Netease are in front of the mass scale. There are many game manufacturers in the back. On the strength and competitiveness, station B wants to grab more market dividend The difficulty is not small. At the same time, it is more important that the growth space of B standing on the game is actually limited to the imagination of investors.
I. The live broadcast is not limited to the game B station breaks the circle and tries to bring new power to the business
Behind the broken circle of station B, its business is also changing, gradually getting rid of its dependence on the revenue of the game business, and focusing on other businesses. In the past few years, Station B has been actively transforming, and one business has also been put on a more important position: live broadcast.
Last year, there were two moves in station B that caused a lot of sensation in the live broadcast industry. On December 3, 2019, Station B won the exclusive live broadcast rights of the League of Legends Global Finals in China from 2020 to 2022 at a price of 800 million yuan. With B station, there are also live broadcasts such as fast hands, fighting fish, tiger teeth platform. On the 19th of the same month, Station B signed anchor anchor Tim Timo at a price of 50 million yuan per year.
These two big moves demonstrate the determination of B to stand in the field of live broadcasting, and there must be a greater breakthrough in the live broadcast business. Station B must have a weight to gain. Among the popular anchors and hot IP matches The importance is self-evident. Feng Timo’s first show was broadcast on station B. The peak popularity of the live broadcast was as high as 10.237 million, the amount of barrage was 452,000, and the number of fans rose by over 400,000 within four hours of the live broadcast. 75 days after settling in station B,Has 2.01 million followers.
Second, the live broadcast can broaden the road to commercialization, but it is critical that the competition burns out at station B.
Broadcast station B wants to transform, expand the format of live broadcast, and broaden the road to commercialization. From the layout of station B, tapping the more value of the live broadcast business can have more possibilities for user paid conversions. At the same time, the live broadcast business has its own game business support. Breaking the circle to areas other than game live broadcast will To achieve a greater breakthrough in revenue for station B, after all, there is still a lot of room for the user group at station B to watch live broadcasts.
Although the live broadcast business is expected to help B station break through, but we must also see that the live broadcast industry is not an easy meat cake. In terms of investment, station B has a lot of money to get the right to broadcast the League of Legends, and a lot of money to dig Feng Timo are not low expenditures. Whether this part of the investment can make station B return as soon as possible or even bring higher returns or is tested by the market .
At the same time, it is worth noting that the current live broadcast market is also a market that is fiercely contested by various giants. Under the influence of YY, Huya, Douyu and other head platforms, grabbing live broadcast users has gradually become a stock stage. How post-entrants find their competitive advantage highlights its presence in the live broadcast industry. But at present, station B still needs to find a more suitable development strategy for its live broadcast business.
For station B, the purpose of breaking the circle is to let more users know about it and improve its industry presence. This is why there is more action on station B in terms of business and content. In 2020, station B will continue to break. How much influence will the circle have?
The epidemic is expected to bring a wave of new users. Can station B continue to break the circle in 2020?
The New Year’s Eve in 2019 will make station B “fame”, and many users on Weibo have called this night this is the “night best for young people” on station B. At this party, Station B combined many contents together, and was no longer confined to a two-dimensional single culture, but a multicultural combination covering film, music, sports, military, and other fields successfully borrowed content to get out of the circle. After the party, station B’s outreach to the public is already working, which is why the number of new users this quarter will perform well.
After entering January, the effects of winter holidays and epidemic prevention and control will be superimposed. This is likely to have some positive effects on the growth of users at station B in Q1 2020. In earningsDuring the conference call, Bilibili Chairman and CEO Chen Rui said that the total revenue in the first quarter was 2.15 billion to 2.2 billion yuan, a significant increase from the previous quarter. Among them, the e-commerce business will be significantly affected, but games and video membership payment services will have a positive impact due to the holidays. In short, the short-term impact on the overall B station is not large.
For station B, how to retain these new users is critical. To the outside world, the current B station needs to break through the 200 million user scale as soon as possible, which may also be a watershed affecting its market performance. But what we can see is that it is getting harder and harder for the user to grow on the video website platform. After the user bonus period, it is increasingly difficult to mine incremental users. A lot of effort.
At present, the biggest problem in the development of Station B is still the loss. This quarter, the amount of losses further expanded year-on-year, and it is likely that station B will still be a difficult point to achieve profit in the short term. For station B, the current development on several business lines is not dare to relax, and it is also increasing investment costs to strive for a greater breakthrough in user growth. This is obviously a lot of investment is still required, how to balance It is important that good spending further shrinks losses.
Before the earnings report, from the perspective of investment ratings, according to FactSet data, analysts generally rated the stock as “Buy.” Of the 23 analysts covering the stock, 2 gave a “hold” rating, 1 gave an “overweight” rating, 20 gave a “buy” rating, and no one gave a “sell” rating. With market sentiment optimistic that the sound of station B’s circle breaking is increasing, station B should still accelerate the circle breaking in 2020.
Conclusion
According to this financial report, the performance of B station in 2019 is generally good, and the circle break has begun. 2020 may be an important year for B station to break the circle. Can it be used by users? It is important to achieve greater breakthroughs in the past, to reverse the loss situation and even to become profitable. At the moment, many investment institutions are actively singing about the future development of station B. Whether station B can attract more investors, and the stock price has taken another step to test its strength and depth in the next circle.
According to the growth of MAU at station B, it is very likely that it will be worth more than 10 billion U.S. dollars in market value, but it is only a matter of time. Judging from the current development of Station B, the overall development is still relatively stable, but how to achieve greater breakthroughs in various businesses, further build a moat in Station B in various fields, and form a stable growth surface for Station B, which may stimulate the stock price growth Favorable measures.
Source of this article: Meigushe aims to help Chinese investors understand the world, focus on US technology stocks and China stocks, and friends who are interested in US stocks should follow us quickly
The New Year’s Eve in 2019 will make station B “fame”, and many users on Weibo have called this night this is the “night best for young people” on station B. At this party, Station B combined many contents together, and was no longer confined to a two-dimensional single culture, but a multicultural combination covering film, music, sports, military, and other fields successfully borrowed content to get out of the circle. After the party, station B’s outreach to the public is already working, which is why the number of new users this quarter will perform well.
After entering January, the effects of winter holidays and epidemic prevention and control will be superimposed. This is likely to have some positive effects on the growth of users at station B in Q1 2020. In earningsDuring the conference call, Bilibili Chairman and CEO Chen Rui said that the total revenue in the first quarter was 2.15 billion to 2.2 billion yuan, a significant increase from the previous quarter. Among them, the e-commerce business will be significantly affected, but games and video membership payment services will have a positive impact due to the holidays. In short, the short-term impact on the overall B station is not large.
For station B, how to retain these new users is critical. To the outside world, the current B station needs to break through the 200 million user scale as soon as possible, which may also be a watershed affecting its market performance. But what we can see is that it is getting harder and harder for the user to grow on the video website platform. After the user bonus period, it is increasingly difficult to mine incremental users. A lot of effort.
At present, the biggest problem in the development of Station B is still the loss. This quarter, the amount of losses further expanded year-on-year, and it is likely that station B will still be a difficult point to achieve profit in the short term. For station B, the current development on several business lines is not dare to relax, and it is also increasing investment costs to strive for a greater breakthrough in user growth. This is obviously a lot of investment is still required, how to balance It is important that good spending further shrinks losses.
Before the earnings report, from the perspective of investment ratings, according to FactSet data, analysts generally rated the stock as “Buy.” Of the 23 analysts covering the stock, 2 gave a “hold” rating, 1 gave an “overweight” rating, 20 gave a “buy” rating, and no one gave a “sell” rating. With market sentiment optimistic that the sound of station B’s circle breaking is increasing, station B should still accelerate the circle breaking in 2020.