looking at the Internet bigwigs who have set up film companies in recent years, the first answer they handed in last year is not very satisfactory: Alibaba Pictures' first film, "Ferry Man", even if it has half a star in the entertainment industry as its platform, still can not save the audience's one-sided bad reviews. Tencent Pictures voted for the first film, chose a small number of literary and artistic suspense film "Youth", the final box office only 15 million yuan, not even a splash.
original title: Letv Pictures has shrunk by 2.8 billion yuan. Internet Pictures failed in its first paper
Xiaomi Pictures is going to be "yellow"? On January 19th, there were rumors in the media that Xiaomi Pictures might be cut and its publicity department had been disbanded. In the afternoon, Li Wanqiang, head of Xiaomi Film, confirmed the rumor by sending a message on moments. He said that Xiaomi Pictures has indeed made adjustments. At present, it is only a department of more than a dozen people, and its core function is to help Xiaomi brand and does not involve content production. Moreover, Xiaomi's core business is still mobile phones, and it will not have its own separate film release, so it does not need a publicity department; if it needs to be publicized, it can be done by Xiaomi's marketing department. Last June, however, Xiaomi Pictures also announced that its focus was on production rather than investment. There are only a dozen people left from registration to now, and in less than half a year, Xiaomi's bold talk of entering the film industry seems to have become a joke. It is not only Xiaomi that is embarrassed. Looking at the Internet bigwigs who have set up film companies in recent years, the first papers handed in last year are not very satisfactory. In response to media reports that Letv Pictures has shrunk by 2.8 billion, Zhang Zhao responded on Weibo that some industry analysts rated Letv Pictures at a reasonable valuation of between 300 and 50 billion, and that a new value evaluation system is needed for industrial upgrading. Ali Pictures' first film, "Ferry Man", even with half the stars in the entertainment industry as its platform, could not save the audience's one-sided bad reviews. Tencent Pictures's first film chose the minority literary suspense film "Youth", which finally grossed only 15 million yuan at the box office, not even a splash. Although Letv Pictures has produced many films, the reputation of "the Legend", "the Great Wall" and "28-year-old minors" is not very good.... Despite having an advantage in all kinds of resources, it is not so easy for Internet companies to make movies. Keeping in mind that content is king may be the way to make a movie. strong > word-of-mouth plummets / strong > strong > Letv Film's valuation has shrunk sharply / strong >
on January 15th, Letv, in the crisis of 15 billion yuan financing in China, can be called the most humble person to send charcoal in the snow. Of this amount, 1.05 billion yuan was used for the 15 per cent equity exchange of Letv Pictures. According to this calculation, Letv Pictures is valued at 7 billion yuan. However, this has shrunk by 2.8 billion yuan compared with Letv Pictures's valuation of 9.8 billion yuan in May 2016.
as an early Internet company to enter the film industry, according to data, Letv Pictures ranked first among Internet film companies and 14th among domestic film companies at the box office in 2016. Among them, "Tomb robbing Notes" grossed more than 1 billion yuan at the box office. However, it is inconceivable that valuations have shrunk as a result of high box office sales. The reason, of course, is that the film industry was not hot enough in 2016, but more importantly, it should be the failure of several blockbuster films made by Letv Pictures last year. "Tomb robbing Notes" grossed more than 1 billion yuan at the box office, but Letv Pictures was not the biggest winner and did not get a large share of the box office. "Jazz trail" was the most popular project of Letv Pictures last year, but it only lost money at the last 380 million yuan at the box office. At present, the box office of "the Great Wall" has reached 1.1 billion yuan, but Letv is not the main producer, the investment accounts for only about 1/10, and the profit is not impressive. In addition to the box office, the bigger hidden danger of Letv Film is word-of-mouth. The word-of-mouth of the above three films are relatively mediocre, and "Lordship" has been scolded by countless audiences. Alibaba Pictures, owned by Internet giant Alibaba, has a fiasco at the end of its first main casting film, Ferry Man. Zhang Jiajia, the director of the film, once revealed that the film could not break even until it grossed more than 1 billion yuan, but under the fermentation of negative word-of-mouth, the film grossed only 470 million yuan, far below its goal. Moreover, since its establishment in 2014, Alibaba Pictures has lost money for six quarters in the first half of 2016, and the loss is expected to increase by nearly 300% in the first half of 2016 compared with the same period last year. At present, Ali Pictures is still a long way from making a profit. As for Tencent Pictures, who has always kept a low profile, the market performance of the first main casting film "Youth" is so low that many audiences do not even know that there is such a film. strong > content / strong > strong > making movies without "Internet thinking" / strong > after 2012, China's film market boomed, at the same time, Internet companies became the "upstart" of China's economy. In the layout of various industries, Internet companies that want to subvert various industries with Internet thinking will naturally not miss the film industry. However, the Internet and film are always two separate industries, and most Internet people are not familiar with how to make a good movie. Jiang Yong, an expert in the film industry, said bluntly that when Internet companies make movies, they are "not much different" from coal bosses and mine bosses who invest in films, and "are all amateurs." "Internet companies have no resources at all in content, except for the advantages of platforms and users at the marketing level." when all kinds of local tycoons of the good and the bad enter the content industry one after another, the traditional film and television companies as content providers undoubtedly have a strong game advantage: in the face of a group of newcomers, as long as they can continue to create high-quality film and television products, they can fully show their "stand out from the crowd" demeanor, regardless of "Internet thinking". Zhou Tiedong, former general manager of New Film United Pictures, believes that the purpose of the film is to show consumers, it can be said that film and television production has nothing to do with the Internet. "what the audience wants is content, and as to what platform and channel this content uses to spread, they don't care. What the film and television companies need to consider is how to provide the audience with delightful stories. From the perspective of communication, the Internet is just a way of spreading a story. Without content, the whole Internet is just a lifeless server. " Internet talents' disobedience and lack of experience in the cross-border film industry directly lead to the failure of a single film project. "whether a film is sold or not is still related to the company's' style of play', concept and team level." Qu Xiao, general manager of Zhongqing New Film, said frankly that he really could not understand Ali Pictures and Tencent Pictures's choice of "Ferry Man" and "Young Man" as their debut show. "the script of" Ferry Man "has been changed more than a hundred times, which must be a problem. "Young" director Yang Shupeng's first two films were lost, and it would be a bit baffling to vote for him again. " strong > most Internet film companies should consider withdrawing / strong > most Internet film companies should consider withdrawing. Of course, the first cross-border film was successful, and it is really difficult for these Internet companies. Most industry insiders believe that Internet companies making films are still in the trial stage and require trial-and-error costs and trial-and-error projects. when the Internet has penetrated into every corner of society, Internet companies have many unique advantages compared with traditional film companies. With a strong capital advantage, Internet companies have a lot of their own IP resources, which is the basis for turning into movies. "High-quality users and fans give Internet film companies an advantage in marketing from the very beginning. Portals, clients and social platforms can all become platforms for them to distribute and promote movies, and the results are often very good. E-commerce platforms like Taobao can also develop derivatives, which may be more profitable than selling movie tickets. Today's directors and actors are also more willing to work with young, fashionable Internet companies. " Li Fei, chairman of Feitian Pictures, said. making efforts in producing high-quality content and enhancing the ability to screen items is not only a requirement for Internet film companies, but also what traditional film companies need to do in the future. "to find really good-looking, market-oriented stories, a good script is the core. Don't pursue your feelings as soon as you come up. " Qu Xiao said. As for Internet companies that just want to play with tickets or make money on movies, the cooling film market last year has shown that it won't work. Jiang Yong suggested that smaller Internet film companies should consider withdrawing and not spending too much energy on movies. "at present, BAT and Letv are still relatively focused and have become a new force for domestic film companies, while other Internet companies may have fewer opportunities." in 2014, Boehner Pictures President Yu Dong's remark that "all studios will work for BAT" caused fear among traditional filmmakers, but according to the current trend, as long as the content is done well, traditional studios will still have a place. Yu Dong recently put forward a new trend of Internet power, he predicted: "Internet companies after more than two years of erosion, the momentum has been weakened." They prefer to infiltrate the film industry, rather than just get the so-called big data and traffic. "
Edit: yvette