Galaxy Cool Entertainment Li Wei: Under the blockbuster strategy, how to fight the Internet comprehensive war in the 3.0 era?

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"In the next two or three years, only head programs will be able to maximize their value, and the fragmentation of information flow will intensify competition."

The 2017 China Pan Entertainment Innovation Summit hosted by Een was held as scheduled at the JW Marriott Hotel in Beijing on November 29. This year's summit has the theme of "New Entertainment" and contributed three major venues and pan-entertainment index ceremonies in one day, covering 5 roundtable forums and 12 keynote speeches.

At this summit, Galaxy Cool Entertainment CEO Li Wei delivered a keynote speech entitled "The Cold Thinking of Martians in the Era of Internet Integration Fever". During his speech, Li Wei believed that Pure Internet Comprehensive has entered the 3.0 era, and there is a trend of comprehensively catching up with traditional satellite TV variety shows in terms of investment scale and quantity. Galaxy Cool Entertainment has also been committed to becoming the best quality content provider on the entire network. In addition, in his view, accurate user insight, fresh expression methods and strong execution ability are the genes of online comprehensive sales. The production team also determines the potential of sales. However, the current market situation is that reliable teams are scarce and capital intervention disrupts the situation., the cost composition is abnormal. For content people, the network platform accelerates the separation of production and broadcasting, and the market blowout will make content truly king and push content competition to the most intense era."In the next two or three years, only top programs will be able to maximize their value. Fragmentation of information flows will intensify competition."

The following is a live speech:

Li Wei: Special thanks to Yi En for giving Galaxy Cool Entertainment this opportunity. Maybe everyone knows a lot about "Mars Intelligence Agency", but they may not be very familiar with our company. I personally have been on Hunan Satellite TV for the past 12 years. In 2015, I resigned and founded Galaxy Cool Entertainment. Our first work is "Mars Intelligence Agency". In 2018, we will have three variety shows and two super online dramas. Today, I am particularly happy to share with you some of my personal thoughts, including my team, on the entire Internet. Today's theme is "Cold Thinking of Martians in the Era of Internet Integration Fever."

First of all, in the past two years, we should say that the entire Netcom has undergone a major development. We proposed that Netcom should enter the 3.0 era and comprehensively surpass traditional satellite TV variety shows. This is a problem. In 2017, we will see a large number of high-quality Internet composiums starting to appear. According to what we have learned, in 2018, there were more than 5 Internet composiums with an investment of more than 300 million yuan. In terms of investment scale and amount of investment, there may be a trend to surpass traditional TV variety shows. Looking back at 2012 and 2013, which we define as the entire 1.0 era of Netcom. At that time, especially a program like the novel, made under one person's brand quickly spread on the Internet. 2.0 The era's "Strange Talks" includes "Mars Intelligence Agency" and "Roast Conference". At this stage, especially the first three platforms, BAT, each has its own masterpiece. In 2017,"Hip Hop in China" achieved a very great impact. The influence of an online-only variety show has even exceeded the influence of the strongest first-line satellite TV. Therefore, the success of "Hip Hop in China" has also allowed everyone to see the explosive power of the entire Internet variety show in the future. In 2018, we can see "Hot Blood Street Dance Troupe" and "This is Street Dance". Currently, these projects are released to the public with huge investments, so we say that Netcom has entered the 3.0 era. Whether it can surpass traditional satellite TV may be next year.

In such a market, I personally am very sure that I want to give such an answer. For content people, this is the best era. From 2012 to 2016, especially the Internet Comprehensive Network has begun to break out, and the Internet platform has accelerated the separation of production and broadcasting. In the past, we have been discussing on TV when the separation of production and broadcasting in China would start to flourish, but it was not until this wave of competition from video websites that the development of separation of production and broadcasting in China was really promoted. In addition, the market blowout has made content truly king. In particular, I personally may be quite touched. In the past two years, including teachers like Galaxy Cool Entertainment, Mi Wei's Ma Dong, and Xiao Guo Culture's Ye Feng, including Long Danni, Xie Dikui, and Ma Hao, I have all been around me. One by one, content people who used to work on traditional TV stations have gained platform support in the market, received capital assistance, and all have successful masterpieces. So I think 2016, 2017, and 2018 will be the best times for content people, and in the next 3 to 5 years, I believe that more content people will make their own masterpieces in a way that promotes the market, and achieve success.

This is also the era of the fiercest content competition. The commercial value of head content is prominent, and competition for fragmented information flows is intensifying. Speaking of fierce competition, we just mentioned that this is the best era, but also a troubled world. We just mentioned the statistics of hundreds of millions. In the past month or two, we have seen hundreds of online variety shows and online drama series announced on various major platforms. Hundreds of groups have emerged together, wars have raged, and even close combat has begun. You do street dance, and you do hip hop, and I do hip hop, so the competition will be very fierce in the future. Throughout the process, we will also find that in the next two to three years, it is possible that the value of top-notch programs will be maximized. You can see that the current Internet traffic determines your impact. We can analyze our current user habits. When a video platform launches a solo program, the population it covers is quite limited. If on its platform, it cannot gain the status of head content and exposure of head resources. It is difficult for it to become a program that everyone pays widespread attention to, so it does not have much commercial value. In addition, we can say that currently making content on the Internet may be ten times and a hundred times more difficult than when we used to do traditional programs. In the past, when we were on traditional satellite TV, there might be only three to five programs or platforms that we would face head-on conflicts. As long as you defeat programs on other platforms during that period of time, you may rush out and become the leader. But currently on the Internet,"Glory of the King" is our competitor, and WeChat is our competitor. President Yang of the Reading Group just said that when everyone is watching online literature, he may not watch variety shows. So when we put all the content on the Internet together, we found that it was much more difficult to make pure online content in the online area than in traditional TV, so this also put forward very high requirements for us.

I just talked about 3.0. In the future, if there is no big investment, big publicity and big production, it will be difficult to win in this battle. Now, all major platforms are beginning to implement the explosion strategy. The standard of the explosion strategy is to make big investment, big publicity and big production. But today I ask a question, will big investment, big publicity and big production definitely make big sales? For me personally, the answer to such a question is unknown, including that hot money is something that can be encountered and cannot be sought. I believe that before every project is launched, the main creators will think it is a hot money. Under such circumstances, we really want to increase the probability of a hit. First of all, let's explain what the genes of hot money are. From the perspective of our "Mars Intelligence Agency", I think that the gene of hot money requires accurate user insight, fresh expression methods, and super execution capabilities. The background of the big investment, publicity, and production just mentioned, such an accurate analysis of user behavior, innovation in program models, and finally the team's execution are needed to create a hot money. These are some of our thoughts in the past two years. In addition, throughout the process, we found that the top team is the core of the success of popular money. The competition for content must be the competition for talents. A good team is the foundation of all good content. I have said on many occasions that even if we get a super IP or super mode, it will definitely be a second-rate project if we hand it over to a second-rate team. This team determines the potential of hot money, and a top-level team will increase the chances of hot money.

At present, the current status of the entire market team. In the past two years, many variety show teams have appeared in the market, but we see that reliable teams in the entire market are still very scarce. On many occasions and many platforms, when we discuss together, at present, whether it is in movies, TV series, variety shows, there are no more than 20 top teams that can produce popular programs, and there are even no more than 10 top teams that can produce phenomenal projects. However, we can see that in the past two years, due to the intervention and fanaticism of capital, the pot can no longer cover the pot. When there are more than dozens of projects on each platform, and there are more than 100 or 200 projects on the entire network, we find that reliable teams are very scarce, and a large number of projects have to be found for second-rate teams and third-rate teams. It is conceivable that we have seen the presentation of various project standards in the entire market. In addition, we give an appearance fee of 50 million to 80 million to an A-list star, and the artist's cost accounts for 60% and 70% of the entire project. However, the salary our production team receives in the entire project may not be less than 3%, 5%, we hope to carry out innovation and reform in the entire industry. We are willing to give our entire team more benefits and give them more affirmation. This is what we think is the current status of the marketing team.

What should we do? As a content person who has just started a business for more than a year and has worked in this industry for more than ten years, I think the most important thing in this industry is to respect talents and creativity, which may be a very important prerequisite for being able to produce good content. Hunan Satellite TV, where I worked in the past, did not have regional or economic advantages. However, since the late 1990s, Hunan Radio and Television has launched a series of initiatives to inspire talents and respect creativity. After ten years of development, Hunan Satellite TV's variety content has led the market for at least ten years. Currently, on the entire Internet, we can see that in the best era just mentioned, so many teams came out to establish their own businesses and obtain capital investment. We hope that the entire market can have enough confidence and patience to allow us to grow and grow. I personally am very confident that starting from 2016, our team that has cultivated variety shows and content on the Internet may have gone through three to five years of growth and cultivation. We are confident that we will be able to make more contributions in the next five or ten years. I even see that more outstanding producers from traditional TV stations will enter the market and the Internet around me.

We have also put forward a slogan internally, hoping that Galaxy Cool Entertainment can become the best content provider on the entire network, helping every employee and partner maximize value, and the vision is to bring happiness and dreams to people on earth! This is my personal thinking. Please correct me if there are some inaccuracies. Thank you!

Editor: Mary