IDG Capital Xiong Xiaoge: Pan-entertainment projects have a lot of imagination, but the threshold is very important

"Now, new models such as video and games are constantly emerging. There is a lot of room for imagination in sports, sports and pan-entertainment, and the threshold for entrepreneurship is very important. For example, everyone now thinks that China's film market is good and is working on it like a swarm of bees, but whether it can last depends on many basic factors: what users value, good content, good experience, and how well mobile Internet technology are used, are all very important. In the future era of mobile Internet development, content will still be king. Traditional media will face great challenges. The most important thing for future media is to find content with its own original business model."

Original title: IDG Capital Entertainment Investment Layout| Xiong Xiaoge: The pan-entertainment industry has great potential

. First, the action must be fast and the start must be accurate: It took two hours to decide to invest 85 million yuan in Legendary Pictures

Xiong Xiaoge said frankly,"In the past few years, my most proud investment is Legendary Pictures, which is also the most investment I have invested, the fastest investment to make. I made a decision within two hours and invested 85 million yuan."

The name Legendary Pictures may not be familiar to the domestic public, but behind this company, there is a long list of well-known names. Not long ago, Wanda Group acquired Legendary Pictures for no more than US$3.5 billion in cash (approximately RMB 23 billion), making it by far the largest overseas cultural merger by a China company. In response, Xiong Xiaoge said: "We voted five years ago."

The reason why IDG will invest in Legendary Pictures is because of its preference for its model. "I think this thing is the work of geniuses. I learned about this company, discovered that it has the most famous director in the world, and spent ten years preparing a script. I don't understand it now. At that time, I thought this method was very good and the model was very good. Legendary Pictures did not conduct distribution. Warner Brothers did distribution at that time. They only produced blockbusters themselves, and the blockbusters they produced were unmatched by China. When we invested, the company even counted the girls at the front desk, with less than 30 people, but the box office revenue generated in one year was much more than China Film and Shanghai Film Factory combined."

Since then, Legendary Pictures lived up to its expectations. It successively produced Hollywood blockbusters such as "Inception","Pacific Rim", and "Jurassic World", which grossed 460 million, 694 million and 1.42 billion respectively in the mainland.

"Opportunities are reserved for those who are prepared. If I had not had investment experience in film companies such as "College Entrance Examination 1977" and "Love of the Hawthorn Tree" in the past, I might not have made such a quick response and decision at that time."

2. Content is king, optimistic about Zhang Yimou's brand benefits

. Currently, Legendary Pictures, invested by IDG Capital, is promoting Zhang Yimou's new film "The Great Wall". Xiong Xiaoge said that he is very optimistic about the cooperation with Zhang Yimou.

In fact, IDG and Zhang Yimou have a long history of cooperation. In 2006, Wang Chaoge registered and established Beijing Impression Innovation Art Development Co., Ltd.(predecessor of Guan Impression Art Development Co., Ltd.) in Beijing, and Zhang Yimou was among the partners. One month after the company was established, it received its first round of investment from IDG Capital.

Impression Company has invested 350 million yuan to create "Impression." Third Sister Liu "," Impression. In large-scale live-action performances such as Lijiang ", IDG Capital participated in an investment of 87 million yuan. This investment enabled IDG to obtain a" satisfactory "return and" developed very well."

In this investment, Xiong Xiaoge has his own identification skills. He uses Broadway musicals, Disney and McDonald's to define the "Impressions" series. He believes that live-action performances are similar to Broadway musicals, based on legends and stories. The Indian-themed musical "Kolkata" has been performed for more than 20 years. Broadway has famous actors, famous directors, good books and lyrics, and "Impression" is a musical with only famous directors and no famous actors.

Based on the cooperation foundation on the Impression series, Xiong Xiaoge also participated in Zhang Yimou's other movie,"Love with the Hawthorn Tree", mainly optimistic about the high popularity of the original novel on the Internet and Zhang Yimou's own brand effect.

"Recently, we have also been talking to Zhang Yimou that we will launch some cultural, entertainment and tourism projects in the future. I want to define it as 'pan-entertainment'. This time, a new technological threshold will be added, such as wireless Internet and VR/AR, so that this project can 'fly'. However, content is still king. On this basis, we can focus on building its brand."

3. Pan-entertainment projects have a large imagination space, but the threshold is very important

. Xiong Xiaoge has repeatedly emphasized his favor for the pan-entertainment field-"The cultural industry seemed to be a national matter in the past, such as competitive sports. But in fact, everyone wants to live a happy and healthy life, and people are longing for more entertainment. No matter what country, people from, 24 hours a day, in addition to necessary things such as eating, sleeping, and working, there is also huge demand for leisure, sports, and entertainment. People want to travel and meet the hidden needs of families, children, parent-children, etc. There is a lot of room for development in this part of the needs."

Therefore, IDG Capital has long paid attention to opportunities in these areas. In addition to investing in the "Impression" series and Legendary Pictures in the United States, IDG has also invested in tourism real estate projects such as Wuzhen and Miyun Gubei Water Town, and is also a video barrage website. One of the angel investors.

Recently,"Kunlun Decision", which aims to build a world-class fighting platform, announced the completion of a large-scale Series B financing, with Series A investor IDG Capital participating in the investment. Xiong Xiaoge said that he has also been fascinated by boxing recently.

IDG Capital is also making sports investment with Wanda. "Now, new models such as video and games are constantly emerging. There is a lot of room for imagination in sports, sports and pan-entertainment, and the threshold for entrepreneurship is very important. For example, everyone now thinks that China's film market is good and is working on it like a swarm of bees, but whether it can last depends on many basic factors: what users value, good content, good experience, and how well mobile Internet technology are used, are all very important. In the future era of mobile Internet development, content will still be king. Traditional media will face great challenges. The most important thing for future media is to find content with its own original business model."

The road is tortuous and the future is bright. In the future, we should not only focus on the innovation of business models, but more importantly, technological innovation and how to find thresholds.

Wen| Feng Yingxing, transferred from Weixin Official Accounts IDG Capital (ID: idg_capital)

Editor: Nancy