with the promotion of people's consumption, financial capital and the Internet, the pan-entertainment industry has ushered in a golden period of development.
< strong > introduction < / strong >
this summer is destined to be extraordinary, and BAT has once again been pushed to the forefront: in May, after Tencent became the first company with a market capitalization of more than 300 billion, Ali also won the title a week later, and the two became the Asian double stars of technology companies. However, this only represents the end of the first half and the beginning of the reform in the field of pan-culture and entertainment in the second half. < strong > first half: ecological layout driven by science and technology < / strong > the two technology giants have joined the forefront of the most valuable companies in Asia, while previously they were traditional companies such as Toyota, Industrial and Commercial Bank of China and PetroChina. Similarly, the company with the highest market capitalization in the global market capitalization list has also been replaced by Internet companies such as Apple, Google and Microsoft. More importantly, some of these companies are underage and growing at an astonishing rate, such as Facebook is only 13 years old, the oldest Microsoft is 42 years old, and most of the established traditional companies are centenarians, such as 125,135-year-old Mobil and 205-year-old Citigroup. In other words, this collective carnival of Internet companies is the result of Internet technology as a successful push. Evolutionary economists believe that technological change is the basic force of economic evolution, and the technological explosion has brought new industries and product revolution. The essence of the product revolution is to develop new resources, not just to make effective use of existing resources. Behind the high market capitalization of Tencent and Ali, it is they who use Internet technology to produce new products that bring new value to users. Tencent, which has a market capitalization of US $300 billion, has benefited from nearly 1.8 billion active users worldwide. Tencent's 18-year development process, first of all through social new products to meet the communication needs of users, and then switch channels between hot products to further cover the process of user time. From the income structure, we can see that in the early PC era, Tencent benefited from such value-added services as QQ Show, and then extended to online games and advertisements. In the mobile era, Tencent further expanded its ecological effect on this kind of users. Wechat eliminated Mi Xiao. Tencent News, who is adjusting the OMG organization, is bound to have a war with Jinri Toutiao in the future. if Tencent was seen as a new operator with a social relationship chain in the past, it has made an ecological layout in many fields. It includes Tencent Butler in the field of network security, YingYongBao in the field of mobile distribution, QQ Browser in the field of browsers, Tencent Video in the field of mobile video, and China New Music Group in the field of digital music (QQ Music, KuGou Music, Kuwo Music) and so on. In its 2016 earnings report, Tencent attributed its growth to a wide range of sources of revenue growth, particularly driven by emerging businesses such as smartphone games, social and effect advertising, digital content sales and payments. In 2017, Tencent further strengthened its strategy, emphasizing the "connectivity" strategy of expanding the ecosystem through its core social and communication platforms in its financial results in March 2007. And this kind of connection is a kind of "many pairs of open connections, from technology to resources, and then to services, to build six open systems: service creation, incubation, training, star creation, venture capital and venture couplet, so as to empower more domestic enterprises." by contrast, Alibaba, another domestic enterprise with a market capitalization of more than 300 billion US dollars, has a different idea on the ecological layout of new products. The latter is aimed at building a happy and healthy infrastructure. Now Alibaba is not only the largest e-commerce platform in China, it has grown into an integrated platform across e-commerce, entertainment, social networking, technology and other fields. According to the Q1 financial report in 2017, Ali divided its business into four sectors: e-commerce, cloud computing, digital entertainment and innovation business. In addition to cloud computing, Ant Financial Services Group and Cainiao Network, two new "species", have also developed rapidly and have become Internet financial platforms and logistics platforms supported by big data, respectively. from abroad, Facebook recently put forward the idea of building a global community, claiming that "giving people the right to build communities and make the world closer" has become the company's new mission. However, Tencent, which is also a social attribute, the current globalization gene is not strong, which also brings new challenges for the future. Tencent's globalization mainly reflects the mergers and acquisitions of online game companies, while the layout in areas such as payment is later than that of Ali, and investment in new areas such as artificial intelligence is also relatively low. in terms of methodology, Tencent's success is mainly due to the high emphasis on product experience and the product competitiveness promoted by the internal "horse racing" mechanism, rather than the forward-looking and pre-emptive layout of technology. According to the book Tencent Biography, Ma Huateng often communicates with the product manager to discuss the details of the product in his email, and sometimes the product manager receives an email from Ma Huateng late at night, which shows Ma Huateng's sense of crisis and the importance he attaches to the product experience. And for the exploration of innovation, the growth of Wechat in Tencent's system is an important exploration in the innovation methodology of large companies. < strong > second half: IP Pan Entertainment opens a new track < / strong > with the help of people's consumption upgrading, financial capital and the Internet, the pan-entertainment industry has ushered in a golden period of development. If the first half is the dividend of Internet technology, then how to make efforts in the existing ecological layout has become a new competitive point for BAT. The competition at this time is no longer the competition among iqiyi, Youku and Tencent Video, but the competition between ecology. When we find that even the real estate industry, clothing, printing and other industries have entered the pan-entertainment industry, this competition is not only a competition among technology enterprises, but also become a hand-to-hand struggle for the whole industry. It can be said that IP Pan-Entertainment opened the second half of the collective carnival. Tencent's future development strategy has put content in an important position as never before, but it also faces a lot of challenges in this regard. Tencent's strategic opportunities also include internationalization and the progress of the "full connection strategy". is also pan-entertainment, but the landing speed of Tencent's strategy is not as fast as Ali. in fact, Tencent is not too late in the field of IP pan-culture and entertainment, but its landing speed is not satisfactory, and the pace of organizational integration lags behind Ali. In 2012, Tencent Interactive Entertainment formally put forward the "pan-entertainment" strategy with IP as the core, launched a systematic interactive entertainment business layout, and successively established two major business platforms Tencent Animation and Comic and Tencent Literature. Tencent Interactive Entertainment officially launched "Tencent Movie +" in 2014, and the organization was not adjusted until this year, which also means that Tencent's two major business groups related to pan-entertainment are about to be integrated. At present, in terms of IP ecological pan-entertainment layout, Tencent includes Tencent Games, China Literature Group, Tencent Animation and Comic and Tencent Pictures, as well as Tencent Video and Penguin Pictures. A year ago, as early as June 2016, Ali Group prospectively announced the formal establishment of the "Alibaba Great Cultural and Entertainment Section." This section includes Ali Pictures, all-in-one Group (Youku Tudou), Ali Music, Ali Sports, UC, Ali Games, Ali Literature and Digital Entertainment Division of Alibaba Group. Baidu in BAT is also worth mentioning. Although Baidu is slightly inferior in this market capitalization competition, iqiyi, who has hundreds of millions of active users, has become one of the best in the pan-entertainment layout of Baidu IP. Although the market capitalization of the first two is almost five times that of Baidu, Baidu previously relied on search advantages to drive iqiyi to become a leader in the video field, launching a number of successful IP such as "Strange Flower Theory" and "Flower Thousand bones", which still took the lead. Since then, Baidu has transformed into AI artificial intelligence technology, which will revolutionize the service experience, including entertainment, and will still be remarkable in the future. there is no doubt that whether the resources of the original ecology can be integrated and brought into full play is the key to test the ability of BAT in the second half. < strong > IP pan-entertainment strategy essence: break through the content industry cash dilemma < / strong > Why the collective turn to IP pan-entertainment is not the judgment of entering the golden age of content, but based on the fact that film and television content is the amplifier of users' entertainment consumption, and the film and television industry is an industry with light assets, in the final analysis, it is to find a new way to realize the content industry. Therefore, when talking about IP pan-entertainment, simply from the number of IP, card, investment, without considering the business return, is precisely deviated from the trend of IP development. different from the practice of most enterprises at the Shanghai Film Festival to come up with a list of IP, Yu Yongfu, Alibaba Pictures Board seat and CEO, proposed to adjust Alibaba Pictures' strategy-- appropriately scale back content production, focus on the "infrastructure construction" of the film industry, and continue to promote the development of Chinese films with the platform thinking that Ali is good at. The voice has not dropped, all kinds of comments are loud, Ali this innovative view that benefits the entertainment industry, should have been a positive response, and open discussion, and then was interpreted as Ali Pictures does not do the content. The author specially consulted the online rebuttal articles, the argument is generally that "content is king" as the only truth, otherwise the entertainment industry games discussed will be reduced to false propositions. This is exposing a problem that the content industry has been relatively closed for a long time. From the discussion of the above issues, we can see that what the pan-entertainment industry lacks is not IP, but the improvement of the mode of thinking. < strong > traditional entertainment industry thinking: content is king or channel is king < / strong > as a traditional media person with a six-year television background, the author also respects content and has a content complex. However, the question of whether the content is king or whether the channel is king has always been a question of laying eggs and eggs, but it has not yet been explained clearly. How can the current infrastructure argument be killed with one stick?. "any infrastructure that serves an industry, not a company, should not be called infrastructure if it serves a company." That's the essence of it. Content still plays an important role in the entertainment industry, but it has changed beyond recognition. When Netflix, a world-class video website, invests heavily in content production and purchase every year, and is still unable to make a profit, we find that content is difficult to survive as an independent economic entity. Therefore, there are attempts to reduce investment in short videos and improve the ability to pay for knowledge. To explore new areas, we should first let go of the bondage of our original thinking before we can embrace the unknown future. < strong > Internet applications: new business logic is still urgently needed for traffic thinking < / strong > Game revenue accounts for half of Tencent's market capitalization of US $300 billion, but games and film and television IP content have not yet formed an effective linkage. In addition to advertising, Tencent is still actively exploring membership business to increase revenue. From the first quarter financial results, driven by the "ghost blowing lights" and other content, video member income has more than tripled. In other words, even Tencent, which is also famous for its ecology, still uses flow thinking to realize the film and television content. "Legend of Miyue" was once broadcast on Letv and Tencent at the same time. Finally, due to the omni-directional linkage of IP, Letv was much higher than Tencent in terms of playback volume and cash realization ability. At one time, she became the No. 1 mobile video APP, with 100 brand users. It can be seen that the transformation of user traffic is not the whole of IP pan-entertainment. < strong > IP Entertainment New track: there is no fixed equation < / strong > when all kinds of industries join the ranks of pan-entertainment, it is a good thing for the prosperity of IP ecology. at this time, competing for and hoarding IP may not be the only way to achieve success; who is the next Disney in China has become less important; according to the existing ecological resources, the integration of IP linkage has become the key word in the second half. "IP+ various industries" brings new development opportunities for the content industry. Behind the IP+ real estate model, it can be subdivided into film and television towns, IP Hotel Theme, commercial real estate and other fields. Indeed, innovation is a process of trial and error, with unpredictability and uncertainty. The result of industrial innovation leads to the evolution of the economy into a process of creative destruction-the emergence of new industries and the decline of old industries, which is a continuous process of redefining the industrial structure and even the industrial results. the current BAT is undergoing major adjustments: Tencent OMG (Internet Media Group) issued another organizational adjustment decision within three months to set up a major content operation department, involving thousands of job changes; in the same month, Alibaba Pictures issued an announcement, changing the ownership of the executive director, followed by a strategic direction adjustment, Baidu launched artificial intelligence. In the first half, Tencent and Ali relied on the strength of science and technology to win, and in the second half they turned to the field of entertainment and entertainment. Although the content strategies are different, it is worth looking forward to whether the technology companies are still able to take the lead in the field of content creativity. the second half of the game has just begun, and the most important thing is to change the previous mode of thinking in order to lay out the future ahead of time. Amazon CEO Jeff Bezos once said that if everything you do revolves around a three-year plan, you have too many competitors; but if you are willing to invest in a seven-year plan, you have far fewer competitors-because few companies are willing to do so. This battle of pan-entertainment for IP has just begun, and it will be a battle for those who define the ecological layout of the future to win. Let's wait and see. author Liu Jie, nicknamed Kathy, has worked for iqiyi, Beijing Television, Letv, etc., and has personally experienced the ip linkage process of the Legend of Miyue. 
Edit: queenie
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