(Pictures from the Internet) Article | Source of Yi Buer | Mantis Finance (ID: TanglangFin) “2019 The Most Beautiful Night” Evening Party is still aftertaste, the heat of a series of fancy operations has not completely dissipated, Station B Q4 2019Quarterly financial reports and annual reports are delivered to the public.In fiscal 2019, the total revenue of station B reached 6.78 billion yuan, an increase of 64% year-on-year; the net loss was 387.2 million yuan, an increase of 102.9% year-on-year.Among them, the growth in game revenue continued to slow, while the revenue from non-game businesses such as live broadcast, e-commerce, and advertising increased by 157% year-on-year to 1.14 billion yuan, accounting for 57% of total revenue.Obviously, after continuously diluting the “game company”, Station B is working hard to move from the two-dimensional world to the real world, which is the “broken circle” often said by major media.True, to “just eat”, first “break the circle”.However, the core competitiveness of Station B has always been a strong community atmosphere based on the niche secondary culture.And when this niche culture “breaks the circle” enters the mass market, will the B station that is “just right” be better off?In the second dimension, you can only “self-emergence”, and in the third dimension, you can “just eat.” In any field, the niche will be a good “differential opportunity” to enter the market.Shen Chen, CEO of Panda Media, once cited an example like this: “NetEase Cloud Music has a brand-new model innovation. Before it, all Chinese music apps had only one competitive dimension, which was the size of the music library. NetEase Cloud MusicIntroduced a new dimension, called emotion. “From the perspective of” Mantis Finance “, station B is the same. Its rise has introduced a competitive dimension called” subculture “and aimed at a group of young people who love the second dimension..The American scholar Cohen said in the “subculture reading”: “The key condition for the generation of new cultural forms is the existence of a certain number of actors facing the same adaptation problems and interacting effectively with each other.” This group of “effective actionsPlayer “, making Station B one of the” largest music creation platforms in China at present, with over one thousand original songs being produced from Station B every month; one of the largest game video platforms in China, with over 2100 video gamesIt is also one of the largest online self-study platforms in China, with 20.27 million people studying at station B, which is twice the number of applicants for the college entrance examination in 2018 … “This bypasses the” Aiyou Teng “and MangoTV and other mainstream video platforms, Station B went to Nakedas with a “minority” video community.However, Station B is a company after all, a product that has to be profitable and profitable, otherwise, the more users, the more burden it will have.Over time, it can really only “enclose itself and sprout”, just like the idealistic North, and it really has become the watercress of the spiritual “corner”.Moreover, niche means less audience, even if the conversion is high and the repurchase is high, the ceiling can be reached almost by hand.But live broadcast, advertising, e-commerce and other services are closely related to traffic.According to data released by QuestMobile, in September 2019, iQIYI, Youku, and Tencent Video had MAU 560 million, 390 million, and 550 million monthly active users, while station B’s MAU at the same period was only 101 million.”Jiafan” cannot be slowed down, and “breaking the circle” is imperative. On the stage of the 2019 AD TALK marketing partner noodle conference, COO Li Yan of station B publicly announced the action of “Jiafan”: “2020We will open this ecology to all brand partners in the year, so that everyone can have the opportunity to seize the ecological dividend of the growth of Generation Z. “When a” 2019’s most beautiful night “party, the entire niche carnival was pushed to the publicAfter the climax, station B smoothly “breaks the circle” to the mainstream market including the 60s and 70s.On the evening of December 31, 2019, more than 80 million people watched the live broadcast of “Bundi” at the party. The review video was played 67 million times in 6 days, and was praised by People’s Daily.As reflected in the financial report, the average number of active users at station B in Q4 reached another 130 million, a year-on-year increase of 40% year-on-year; the average number of monthly active users at mobile terminal increased 46% year-on-year to 116 million, achieving the highest increase since listing in 2018.Users are growing and losses are continuing.In the Q4 quarter of 2019, the net loss of Station B was 387.2 million yuan, a year-on-year increase of 102.9%.These have nothing to do with the positive “breaking circle” implemented by station B and the “just meal” in the real world.On the one hand, in order to improve the business structure, Station B intentionally reduced the game business, which has been the main source of revenue, while investing heavily in non-game business.In December 2019 alone, Station B first spent 800 million yuan to buy the exclusive live broadcast rights of the “League of Legends” World Championship in mainland China for three years, and spent huge sums of money to win “Internet Red” Feng Ti from DouyuMo’s right to sign.On the other hand, increase investment in “pan-two-dimensional” content production to attract potential users, retain paying users, and increase the stickiness of members.At the National Innovation Conference held in November 2019, Station B launched 40 domestic animation works including “Three Body”, “The Mortal Cultivation of Immortals” and “I’m Singing Mania 2”.This also led to operating expenses of 817.9 million yuan in the Q4 quarter and 2.6854 billion yuan in the year.This promoted the annual sales and marketing of station B to 1.985 billion yuan, an increase of 105% compared with fiscal year 2018.Although this has hindered the profitability of Station B to a certain extent, it also shows that this content utopia, which has always been cautious about “chahan”, is accelerating the opening of its ecology.In other words, the station B, which had canceled the video patch advertising due to the protests of old users, and promised to never add the video patch advertising, has been walking between ideal and reality for a long time, and has given a walk into”The final choice.Station B of “just meal”: either “big” or “dead” However, business has never been a multiple choice question, giving up ideals and actively embracing the real world has never meant that you can live better.Think about it, why is there a two-dimensional world?Nothing more, real life is really too difficult, people need a wonderful world of fantasy to give themselves spiritual sweetness.When you come to the B station of the real world “Jiafan”, you will finally experience the difficulties of the real world.From the perspective of “Mantis Finance”, it is concentrated in three aspects.First of all, in the context of the Internet, where the demographic dividend has peaked, the growth of new users has reached a bottleneck, which is applicable to any Internet company, including the current incremental B site.Although the Q4 quarterly financial report shows that the growth rate of users at station B has reached a new high, compared to the situation where traffic was brought without having to invest in the past, at this time, station B, which has already been on the “broken circle” road, has to move to pull new “gold”To the point.Take the huge investment in the exclusive copyright of League of Legends S, signing Feng Timo, high-density content production, etc., all of which include a purpose: to attract and retain new users.And, in the conference call after the earnings report, Chairman Chen Rui of Station B said: “We set the target for user growth in 2020 to 180 million people and 220 million people in 2021.” However, B stands in China.Is unique, how many people like the second dimension but not the users of station B?And while the “Broken Circle” station B will attract a lot of pan-two-dimensional users, how many purely two-dimensional “indigenous peoples” will be squeezed away?Second, games, live broadcasts, advertising, e-commerce and other services are all available at station B, but they are currently unstable and facing strong opponents.The phrase “everything can be station B” is not in vain. This is not only reflected in the video content of station B, but also in its main business.Games, live broadcasts, e-commerce, advertising B stations do everything, but each of them is unstable and mediocre.In the game business, although Station B has been “de-gaming”, it still accounts for the top revenue and relies heavily on explosions. After Fate / grand Order has held up half the sky, it is unknown where the next explosion will be.The non-game business and the fierce competition in the live broadcast market do not need to go into too much detail. Exaggeratedly speaking, almost all products with the Internet want to share a share of the live broadcast; e-commerce has improved after cooperation with Taobao, butBut it is limited to categories; while advertising, the best “just meal” hurts users the most.In addition, whether it is “Aiyou Teng”, Mango TV, Huya, Douyu, these businesses will become a stopper on the “Chahan” road in station B.In the end, a good community atmosphere has always been the core competitiveness of station B, but the business atmosphere of “Qianfan” is contrary to the pure two-dimensional atmosphere.According to the current “just meal” desire of station B, the core strategy is still “breaking the circle” to attract users and enrich them with rich and diverse high-quality content and a good and active community atmosphere.This is bound to attract various high-quality UPs from various circles to settle in, and continue to inspire UP owners to create high-quality new content to activate the community atmosphere.Although Station B launched the “Music Star Program” with tens of billions of exposure traffic support and millions of special bonuses, at the same time, the recruitment notice of the “Fashion Star Program” also showed that Station B will not be settled in or has fewer fans but on Weibo,Fans of Douyin, Kuaishou, and Xiaohongshu surpassed a certain number of celebrity bloggers to provide resources to support them, but the community atmosphere of station B was pointing to fade.The Q4 financial report shows that in the fourth quarter, the number of monthly active UP masters at station B and their contributions were 1 million and 2.8 million, with an average daily video playback of 710 million times and monthly average interactions of 2.4 billion times, showing a downward trend.This data in the previous quarter is: 1.1 million, 3.1 million, 725 million times and 2.5 billion times.I have to admit that the business atmosphere of “just meal” and the “intruder” of pan-two dimensions are contrary to the pure two-dimensional atmosphere and the ideal community of “indigenous people”, which has affected the community atmosphere of station B to a certain extent.The “fan” in the real world is not so good. “Of course, before making this decision, station B should have been prepared.”It is foreseeable that on the road of “just meal”, the “breaking circle” of station B will either shift the second-dimensional culture to pan-two-dimensional and then enter the mainstream culture to master the right to speak; otherwise, it will gradually decline and let “Xiao Po”Stand” has changed from nickname to real, just like Zhihu once, and now “Bhu”.If the niche wants to “just eat” well, there will always be only two kinds of destiny, either big or dead. The market will not be an exception because of the second-stage coat of station B.So welcome to the “real” world, Beep Beep, Cheers!This content is the original of Mantis Finance. It only represents a personal point of view. No one may use it in any way without authorization, including reprinting, extracting, duplicating, or creating a mirror.Some pictures are from the Internet, and the copyright ownership has not been verified. They are not for commercial use. If there is any infringement, please contact us.[End] Mantis Finance (WeChat ID: TanglangFin): • Pan Finance New Media.• Who was killed by WeChat 100,000 + exposure “” Vi Mixiu “?Creators such as》; • Focus on: new consumption (including new retail), listed companies, big entertainment, new finance, blockchain and other fields..
B-station “just meal”, “offensive and defensive” dilemma
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