For the first half of 2015, the “quality change†of domestic video websites is no less important than any other important industry: the listing of storm technology and consecutive 36 daily limit, so that the outside world has seen the capital market crazy pursuit of such rare targets of video companies. The enthusiasm; At the same time, the rise of pay-per-view, as well as the mode of self-control of online drama content began to prevail in the new year.
The film and television industry is changing so fast, and how do you stand in front of the turbulent practitioners to see the "spirit" and "opportunity"?
In this regard, the 21st Century Business Herald (hereinafter referred to as "21st Century") made an exclusive interview with domestic video industry giant, iqiyi founder and CEO Gong Yu, and from the perspective of the CEO, the video industry in the first half of 2015 Change to do a full range of industry scans.
Paid "damp" can be made bigger
"21st Century": In the first half of 2015, there have been many important changes in the video industry. Can we help us summarize the new trends in this industry?
Gong Yu: The video website will certainly not be just a website in the future, and the next stop of the video industry must be the portal to connect people and services.
Nowadays, the cycle of replacement of electronic products has been greatly shortened, and the progress of the video industry has been directly promoted. For example, functions such as cell phone photography and GPS location sensors give mobile phones more possibilities, making it possible for the Internet industry to further provide all services including information services. There are many services that video sites can connect to in the future, such as e-commerce, movies, and network dramas.
What iQiyi wants to do is to open up these industries and businesses, turn video viewing into a comprehensive service, and comprehensive services are linked together by content IP, whether it is platform innovation or creative aspects of original content. Iqiyi hopes to bring a lot of new things to the Internet industry and has already had a huge impact on the entire industry. So in the future, iQiyi will continue to lead the Internet industry into a new era - the era of connecting people and services.
"21st Century": We observed and found that the income structure of the video industry is also changing this year. From the original single advertising revenue, we gradually added revenue channels for paid viewing, whether we can combine the actual operation of iQiyi to talk about Talk about this change.
Gong Yu: Yes, it can be said that the size of video VIP members is rapidly expanding. Take iQiyi as a case. As of June 2015, iQiyi has paid more than 5 million monthly paid members. Behind this, the development of mobile terminal smart phones, the popularity of mobile payment penetration, the increase in piracy, and the active purchase and distribution of video websites in the content of movie and TV dramas have all become important drivers of the outbreak of video membership services.
We have two dramas, one is "Tomb Notes," and the other is "Psychocrimes." The first members of the series tried to play the episode first to see the broadcast model, access to the user's high attention and traffic, confirming the user is willing to The idea of ​​premium differentiated service pay orders. The fee for membership service like iQIYI is 19.8 yuan per month. Paying users can get more and better viewing content. For example, Hollywood and domestic high quality movies. After he pays, he can see the Tomb Notes in advance. "The Complete Works of Psychological Crimes" does not need to wait one week a week. He can get a better audiovisual experience like Dolby, 1080p, and more.
For the product side, since the user is charged, it is different from the previous advertising model. However, the business model is more fair. The more he pays, the better his work is, and the better the return he can get. Therefore, charging users can better reflect the value of the work itself.
Third, for our platform, different content has different business models. The best content has the best return. Other content, through the advertising model, gets more rewards, but it needs more traffic. The best content is as long as it has a fixed audience.
So for video sites, the pay-plus-free model will make our ecosystem richer, charging models richer, and ecosystems healthier. The video-paying typhoon has already arrived. There are many powerful factors in the future to support us to make this outlet even bigger. Let's do a better business model for charging viewing.
"21st Century": Since the birth of the video industry, corporate profits in the industry have been declining each year. What are the reasons behind the industry-wide losses? What is the expected time for the industry's earnings and what is the key to profit?
Gong Yu: The reason for the overall loss of the industry lies in the fact that video sites are still spending a lot of time on content, bandwidth, and manpower every year. I can't predict profit time. When the industry forms a dynamic balance, everyone has both competition and some tacit understanding. These tacit rules are healthy for the industry.
There is no tacit agreement. There are only laws now.
"21st Century": Now that China's film and television industry is developing rapidly, copyright prices have continued to rise. How do you, in your opinion, meet the rising content costs?
Gong Yu: This is a universal issue facing the industry. For iQiYi, we will continue to increase the coverage of high-quality content and reduce the content procurement and risk through big data and professional judgment. In addition, the VIP member paid viewing service mentioned above was used in movies and dramas such as "Tomb Notes," "Psychic Crime," and "The School's All-in-One" to attract users to pay for video membership services through a better viewing experience.
In addition, we will use some technologies such as smart recommendation to allow us to more accurately deliver the content we buy to users. For example, we use Video in, Video out and other technology-rich content marketing methods. Big data mining is particularly good for us. These artificial intelligence technologies make the investment in the drama and the risk of purchase more controllable. They can also help the operational team find accurate audiences and naturally link the content and advertising marketing needs.
"21st Century": At present, there are listed companies in the video industry, LeTV and Storm Technology in China, what are the intentions of iQiyi in landing the capital market, and are you going to the Nasdaq or wanting to be in the A-share IPO?
Gong Yu: Iqiyi’s goal is to be listed independently, but there is no timetable yet.
Before science and technology companies said to go to Nasdaq, why should we go there? Because of the problem of financing capacity, the financing ability of the other side was strong. It is impossible to finance at home because we do not comply with the rules and we cannot be listed. So we're going over there.
But now, it seems that whether domestically a new board, an emerging strategy board, or a registration system to be launched soon, it will be good for such companies. Comparing the two sides, if the domestic energy, financing ability, then we must come back.
For iQiyi, it is very suitable for domestic use, because its user market is all in China. You let foreign investors understand that iQIYI is valuable, what is not worth, and is too difficult. The value of "Tomb Notes" for video VIP member services, I don't know with the Americans how important this matter is, but when you speak to the Chinese, they naturally understand.
"21st Century": In today's multi-screen era, PC and mobile terminal which is the focus of the video industry, IGI Arts's business is the choice of how to distribute?
Gong Yu: On the whole, multi-screen development is taking place, and the development of mobile terminals is particularly rapid. It should be said that iQiyi has continued to invest in multiple terminals such as PC pages, clients, mobile apps, and H5.
The rapid growth of mobile video is not a new trend. In recent years, mobile video traffic has been growing rapidly. At present, mobile-end traffic accounts for more than 60% of iQiyi’s total traffic. iQIYI also introduced Dolby's high-quality cooperation on the mobile terminal, providing a better audiovisual experience for watching video content on mobile phones. iQIYI was laid out very early in the field of mobile video. Now the most important thing is to constantly improve the user experience, including fluency and clarity, including user-friendliness.
The film and television industry is changing so fast, and how do you stand in front of the turbulent practitioners to see the "spirit" and "opportunity"?
In this regard, the 21st Century Business Herald (hereinafter referred to as "21st Century") made an exclusive interview with domestic video industry giant, iqiyi founder and CEO Gong Yu, and from the perspective of the CEO, the video industry in the first half of 2015 Change to do a full range of industry scans.
Paid "damp" can be made bigger
"21st Century": In the first half of 2015, there have been many important changes in the video industry. Can we help us summarize the new trends in this industry?
Gong Yu: The video website will certainly not be just a website in the future, and the next stop of the video industry must be the portal to connect people and services.
Nowadays, the cycle of replacement of electronic products has been greatly shortened, and the progress of the video industry has been directly promoted. For example, functions such as cell phone photography and GPS location sensors give mobile phones more possibilities, making it possible for the Internet industry to further provide all services including information services. There are many services that video sites can connect to in the future, such as e-commerce, movies, and network dramas.
What iQiyi wants to do is to open up these industries and businesses, turn video viewing into a comprehensive service, and comprehensive services are linked together by content IP, whether it is platform innovation or creative aspects of original content. Iqiyi hopes to bring a lot of new things to the Internet industry and has already had a huge impact on the entire industry. So in the future, iQiyi will continue to lead the Internet industry into a new era - the era of connecting people and services.
"21st Century": We observed and found that the income structure of the video industry is also changing this year. From the original single advertising revenue, we gradually added revenue channels for paid viewing, whether we can combine the actual operation of iQiyi to talk about Talk about this change.
Gong Yu: Yes, it can be said that the size of video VIP members is rapidly expanding. Take iQiyi as a case. As of June 2015, iQiyi has paid more than 5 million monthly paid members. Behind this, the development of mobile terminal smart phones, the popularity of mobile payment penetration, the increase in piracy, and the active purchase and distribution of video websites in the content of movie and TV dramas have all become important drivers of the outbreak of video membership services.
We have two dramas, one is "Tomb Notes," and the other is "Psychocrimes." The first members of the series tried to play the episode first to see the broadcast model, access to the user's high attention and traffic, confirming the user is willing to The idea of ​​premium differentiated service pay orders. The fee for membership service like iQIYI is 19.8 yuan per month. Paying users can get more and better viewing content. For example, Hollywood and domestic high quality movies. After he pays, he can see the Tomb Notes in advance. "The Complete Works of Psychological Crimes" does not need to wait one week a week. He can get a better audiovisual experience like Dolby, 1080p, and more.
For the product side, since the user is charged, it is different from the previous advertising model. However, the business model is more fair. The more he pays, the better his work is, and the better the return he can get. Therefore, charging users can better reflect the value of the work itself.
Third, for our platform, different content has different business models. The best content has the best return. Other content, through the advertising model, gets more rewards, but it needs more traffic. The best content is as long as it has a fixed audience.
So for video sites, the pay-plus-free model will make our ecosystem richer, charging models richer, and ecosystems healthier. The video-paying typhoon has already arrived. There are many powerful factors in the future to support us to make this outlet even bigger. Let's do a better business model for charging viewing.
"21st Century": Since the birth of the video industry, corporate profits in the industry have been declining each year. What are the reasons behind the industry-wide losses? What is the expected time for the industry's earnings and what is the key to profit?
Gong Yu: The reason for the overall loss of the industry lies in the fact that video sites are still spending a lot of time on content, bandwidth, and manpower every year. I can't predict profit time. When the industry forms a dynamic balance, everyone has both competition and some tacit understanding. These tacit rules are healthy for the industry.
There is no tacit agreement. There are only laws now.
"21st Century": Now that China's film and television industry is developing rapidly, copyright prices have continued to rise. How do you, in your opinion, meet the rising content costs?
Gong Yu: This is a universal issue facing the industry. For iQiYi, we will continue to increase the coverage of high-quality content and reduce the content procurement and risk through big data and professional judgment. In addition, the VIP member paid viewing service mentioned above was used in movies and dramas such as "Tomb Notes," "Psychic Crime," and "The School's All-in-One" to attract users to pay for video membership services through a better viewing experience.
In addition, we will use some technologies such as smart recommendation to allow us to more accurately deliver the content we buy to users. For example, we use Video in, Video out and other technology-rich content marketing methods. Big data mining is particularly good for us. These artificial intelligence technologies make the investment in the drama and the risk of purchase more controllable. They can also help the operational team find accurate audiences and naturally link the content and advertising marketing needs.
"21st Century": At present, there are listed companies in the video industry, LeTV and Storm Technology in China, what are the intentions of iQiyi in landing the capital market, and are you going to the Nasdaq or wanting to be in the A-share IPO?
Gong Yu: Iqiyi’s goal is to be listed independently, but there is no timetable yet.
Before science and technology companies said to go to Nasdaq, why should we go there? Because of the problem of financing capacity, the financing ability of the other side was strong. It is impossible to finance at home because we do not comply with the rules and we cannot be listed. So we're going over there.
But now, it seems that whether domestically a new board, an emerging strategy board, or a registration system to be launched soon, it will be good for such companies. Comparing the two sides, if the domestic energy, financing ability, then we must come back.
For iQiyi, it is very suitable for domestic use, because its user market is all in China. You let foreign investors understand that iQIYI is valuable, what is not worth, and is too difficult. The value of "Tomb Notes" for video VIP member services, I don't know with the Americans how important this matter is, but when you speak to the Chinese, they naturally understand.
"21st Century": In today's multi-screen era, PC and mobile terminal which is the focus of the video industry, IGI Arts's business is the choice of how to distribute?
Gong Yu: On the whole, multi-screen development is taking place, and the development of mobile terminals is particularly rapid. It should be said that iQiyi has continued to invest in multiple terminals such as PC pages, clients, mobile apps, and H5.
The rapid growth of mobile video is not a new trend. In recent years, mobile video traffic has been growing rapidly. At present, mobile-end traffic accounts for more than 60% of iQiyi’s total traffic. iQIYI also introduced Dolby's high-quality cooperation on the mobile terminal, providing a better audiovisual experience for watching video content on mobile phones. iQIYI was laid out very early in the field of mobile video. Now the most important thing is to constantly improve the user experience, including fluency and clarity, including user-friendliness.
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