Songcheng Performing Arts 'revenue increased by 56% in 2016, the live broadcast platform's six rooms contributed 40%

Internet performing arts achieved a total revenue of 1.09 billion yuan last year, accounting for 41.23% of total revenue, a year-on-year increase of 195.37%. The revenue of 1.09 billion yuan was all contributed by the live broadcast platform Liujianfang.

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The latest 2016 annual report released by Songcheng Performing Arts Development Co., Ltd.(hereinafter referred to as "Songcheng Performing Arts") shows that it achieved revenue of 2.644 billion yuan, a year-on-year increase of 56.05%, attributable to shareholders of listed companies. The net profit was 902 million yuan, a year-on-year increase of 43.1%. What is different from the past is that Songcheng Performing Arts '"dazzling" revenue no longer relies on one performance after another. Its Internet performing arts business revenue has soared from 21.78% in 2015 to 41.23%. Industry analysts believe that on the surface, Songcheng Performing Arts 'offline performances and online live broadcasts work together to make enough real money, but in fact, the revenue model behind its high returns and the off-site replication mechanism of performing arts still hide risks.

According to the 2016 annual report disclosed by Songcheng Performing Arts, among the three main business segments of live performing arts, Internet performing arts, and tourism services, Internet performing arts achieved a total revenue of 1.09 billion yuan last year, accounting for 41.23%, a year-on-year increase of 195.37%. The revenue of 1.09 billion yuan was all contributed by the live broadcast platform Liujianfang.

According to public information, Songcheng Performing Arts wholly acquired Liujianfang at a premium of 68 times in 2015. The latter has exceeded its previous performance bets for two consecutive years. It is understood that in 2016, the average monthly page views of the six rooms reached 665 million, and the number of registered users exceeded 50 million.

But behind the gorgeous data is the embarrassing situation of single income from Internet performing arts. Chen Shaofeng, deputy dean of the Institute of Cultural Industry at Peking University, said that at present, the live broadcast industry basically uses selling virtual gifts to reward anchors to make profits, and the profit-making channel is relatively single. In addition, the country's supervision of live broadcast platforms continues to increase, and some live broadcast platforms will suffer certain impacts during the business adjustment process, and there are risks in revenue. Yan Yuejin, research director of the Yiju Research Institute think tank center, also analyzed that live programs may seem to have sticky consumer demand, but they are often updated quickly. If the products provided by the platform are not updated in time, fans will decline rapidly. Therefore, if performance growth relies too much on such products, a cautious strategy needs to be maintained. In addition, the main live performing arts business among the three major segments of Songcheng Performing Arts has not yet achieved much integration and linkage with its online performing arts business. Yan Yuejin said that this is more because the positioning and audience of the two types of products are different, so it is more difficult to connect them.

According to annual report revenue data by industry, Songcheng Performing Arts live performance revenue still accounts for 51.84% of total revenue. At present, Songcheng performances have been replicated in other places, forming 50 major performing shows including "Song City Eternal Love" and "Sanya Eternal Love". However, Songcheng Performing Arts 'historical replication model in first-tier and second-tier tourist destinations has not been completely successful. The annual report shows that due to specific location and cooperation methods, Songcheng Performing Arts decided to terminate the Taishan Grand Theater contract and the Wuyishan project. It is understood that due to the location of the Wuyishan project far away from the core scenic spots, and according to the annual report of the Taishan Project, the revenue of Taishan Qiangqing Theater in 2016 only accounted for 0.14% of the total revenue, and its revenue has been at a low level of 3.6025 million to 3.612 million for two consecutive years.

Regarding the reproduction of Songcheng's ancient feelings, industry insiders said that the cultural characteristics of each place are different, which makes this model facing considerable difficulties in expanding in other places. How to attract tourists more requires Songcheng's performance thinking.

Editor: Nancy