Jia Ling's new company has been valued at 50 million yuan by Beijing Cultural Investment. Is comedy a good business?

Jia Ling, a "woman man", has not only been busy "flirting" everywhere recently, but has also taken a critical step on the road to capital: accepting Beijing's cultural investment and opening up channels for capital operation. Yesterday evening, Beijing Culture announced that it plans to invest 10 million yuan in Beijing Dawan Entertainment Culture Co., Ltd., accounting for 20% of the shares, and the company's post-investment valuation is 50 million yuan.

Original title: Beijing Cultural Investment Investment Company Jia Ling is valued at 50 million yuan. Comedy is increasingly becoming a good business?

Yesterday evening, Beijing Culture announced that it plans to invest 10 million yuan in Beijing Dawan Entertainment Culture Co., Ltd., accounting for 20% of the shares, and the company's post-investment valuation is 50 million yuan.

Although this company has not yet been officially established, the shareholders behind it are high-profile producers in the comedy world. In addition to Jia Ling, who is the largest shareholder, holds 35% of the shares, and Sun Jibin, the second largest shareholder, who holds 25% of the shares, is also of great importance. As the behind-the-scenes screenwriter and director of the comedy works of "Happy Comedian", he helped Jia Ling in the first season and Pan Jiajia in the second season reach the finals. He is the leader of the younger generation of comedy writers.

The comedy business has been collectively hunted by capital: Xiaoguo Culture has been further enhanced by investment by Wang Sicong, Happy Media and Kaixin Mahua. Among them, the market value of Kaixin Mahua's listing on the new third board has soared, exceeding the 5 billion mark.

During the economic downturn, people generally need relaxed and humorous content to relieve their mood. Comedy has become the best subject matter for this role. People have reason to believe that the golden age of comedy is coming. Investors have even held money at the entrance of the performance venue to see each seedling invest one.

However, the reporter prefers to believe that the comedy industry chain is still a risky industry."Roast Conference" has been removed due to scale reasons, and "Clockwork City" has only acquired 10 million yuan in box office revenue. These all give the market a sobering dose: comedy is not an industry you can play if you want!

Jia Ling's new company received an investment of 10 million yuan before it was established. Full-time and prohibited business became the focus.

According to the announcement, Beijing Culture plans to invest 10 million yuan in Beijing Dawan Entertainment Culture Co., Ltd., accounting for 20% of the shares, and the company's post-investment valuation is 50 million yuan. Beijing Dawan Entertainment Culture Co., Ltd. has not yet been established and is in the state of being established.

In addition, the reporter found that this investment case is equivalent to other star investment incidents with several obviously different constraints:

1. Jia Ling and Sun Jibin must work full-time in the company for 5 years, and are not allowed to leave during this period. Once you leave, you must buy back Beijing Culture's shares at the market price.

2. Jia Ling will sign a non-competition agreement and will not engage in the same or similar business activities as the operating company's business.

This is essentially equivalent to Jia Ling's entire contract for the next five years being in this new company. To some extent, Beijing Culture's 10 million yuan is a "big bargain". You should know that Jia Ling is now participating in variety shows such as "Happy Comedian" and "Star Chef" plus endorsements may exceed this amount. Is Jia Ling really "disadvantaged"?

"This valuation is actually normal. Although these two people have great potential, they are after all a combination of two or three people. The valuation will not be too high. Moreover, this time it is a capital increase, not an acquisition, leaving enough room for future capital operations." A senior analyst said it was a relatively fair deal.

Jia Ling said in an interview with reporters that the company is currently in a nearly blank stage. Jia Ling established a company to work together because the program is familiar with Beijing culture. It may be involved in variety shows and artist management in the announcement, but there is no finalized project yet.

The reporter believes that on the one hand, Jia Ling may have a fancy to the platform of Beijing Culture's listed companies and the resources and status of Xia Chen 'an and others in the variety industry. On the other hand, the announcement mentioned "building the first comedy unicorn company in the future in China" has exposed the capital ambitions of Jia Ling and Beijing Culture.

Comedy has become the target of capital hunting, and

it is an indisputable fact that comedy is loved by capital by programs + theaters + artists. However, reporters are more willing to look back and sort out how comedy has evolved from a subject that is not elegant. Step by step, it has become an emerging theme that attracts attention today. What useful models have been explored during the construction of the entire industrial chain?

1. Focusing on being an artist and doing vertical programs,

taking the Xiaoguo culture born out of the behind-the-scenes production team of "Tonight's 80s Talk Show" as an example, after successfully obtaining investment from Wang Sicong in the first half of this year, it quickly launched an American comedy style talk show-"Roast Conference".

It is understood that when the company was established, it successively recruited more than 30 behind-the-scenes writers and screenwriters. Its main business models include doing talk shows, doing artist management, and theater performances. For example, after signing these artists, the company arranged dozens of offline talk show performances for them in first-tier cities such as Beijing and Shanghai to help them hone their content and cultivate the market. Immediately afterwards, the experienced and outstanding among them will be sent to their own programs, such as "Roast Conference" and "Roast Group members" Chi Zi, Li Dan, Wang Siwen, etc. It is reported that this company will definitely focus on doing comedy talk shows in the future.

2. Focusing on theaters

On the evening of June 26 this year, the "Super Theater" named after Deng Chao officially opened. On the same day, Liu Yifei, Bai Baihe and others formed a small part of the entertainment circle to help out. This star theater, which "came from a golden key", quickly became the focus of attention in the industry. In addition to the popularity of Deng Chao's tens of millions of fans, the accumulation of reputation from partner Baimei Studio's previous dramas, and the exclusive title of Da Mai as Super Theater to solve the worries of the ticketing chain, the theater does not seem to have to worry about revenue.

It is reported that before establishing the theater, they already had a complete performance team. Not only had they signed more than 10 actors, but they have also been constantly exploring new actors. The reporter learned that the drama the company wants to produce is a type that can continue to be performed like Chen Peisi's "Balcony". In addition, Super Theater will also introduce foreign comedies in August this year. It is not difficult to see that making high-quality dramas is their core competitiveness.

3. Focusing on variety shows, online dramas, movies, and TV series

are all unique. After successfully creating ace comedy programs such as "Smiling" and "Happy Comedian", Joy Media's corporate positioning has become more and more clear, that is, in comedy. Be the ultimate in the market segment.

At present, the company has extended its reach into the field of online variety shows and cooperated with Youku to launch "Comedians League". Next, it will also cooperate with Zhejiang Satellite TV on a brand new variety show-"Happy Big Guy Show". It is reported that this is a program where film and television stars and celebrities play comedy across the border. Of course, this is only a vertical project. According to Dong Zhaohui, its chairman,"Horizontally, because we have integrated creative resources, integrated performance teams, and talents, we have different channels behind us, radio, online dramas, movies, TV dramas are all important channels."

Some people laugh and count money, some cry and beat their chests. Comedy is not something you can play just if you want. In addition to

Xiaoguo Culture and Joy Media's content production, comedy capitalization has begun to receive increasing market attention.

The most typical one in this regard is Kaixin Mahua, a group that is envied by all comedians. After accumulating a lot of money, it has made great progress. After landing in the New Third Board Capital Market, its market value once exceeded 5 billion yuan, and its size was directly on the order of unicorns.

Kaixin Mahua's profitability is not inferior to that of listed companies. Entertainment Capital once analyzed the TOP 10 net profit of the New Third Board Film and Television Culture Company. Kaixin Mahua has become the "annual profit king" with a net profit of 120 million yuan, even surpassing the main board Beijing Culture and other film and television companies, and are popular in the capital market.

Based on this calculation, can the comedy industry chain really become a good industry chain with the support of capital?

Another "Clockwork City" by the Kaixin Mahua team may provide us with another perspective. This big-screen work, co-performed by some members of Happy Mahua Wang Ning and others, together with emerging comedians Xiu Rui, Wang Zijian and others, is not satisfactory. The current box office only exceeds 10 million, a hundred thousand miles away from the box office of "Charlotte Worries" nearly 1.5 billion yuan.

Although this is a relatively excellent summer work in all aspects from writing to production, the market has ruthlessly slapped the optimists and made not all comedy audiences accept it all. Jia Ling's previous "Hua Mulan Incident" on "Happy Comedian" was greatly controversial due to netizens 'dissatisfaction, and finally ended with Jia Ling's apology.

There will also be various problems with the control of the program. The "Roast Conference" mentioned above was removed halfway due to its excessive scale, and it can continue to be broadcast online only after rectification.

Therefore, comedy is not an evergreen tree under the "lipstick effect". Whether it is investing in works or investing in comedy people, there are certain risks hidden, and capital cannot be overly optimistic. As for what sparks can be created between Jia Ling and Beijing culture, will the comedy industry chain be widened or will it be broken halfway?

This article is an original manuscript of Entertainment Capital (WeChat ID: yulezibenlun).

Editor: yvette