Text / Huo Chao
Source: 剁椒娱乐投 (ylwanjia)
At the Wuzhen Conference, all media are looking forward to this year's "Ding Jia Ban", it seems to have disappeared. But even if the "Ding Jia Ban" is held as scheduled, it will probably not be like a laughter like last year.
At least Ding Lei is like this.
In the past year, Netease's share price has also been falling. As of the close of November 9, Netease's market value is only more than 27 billion US dollars, and its share price has shrunk by nearly 40% compared with the end of last year. With the Sino-US trade friction, the domestic game restrictions order was promulgated, and NetEase, which has been playing the game for nearly 20 years, is seeking change.
This kind of pain may only be understood by the little horse.
However, although Tencent's game business has declined, it also monopolizes the social empire, relying on WeChat, QQ and other traffic channels. The flanked brother Jingdong and the fight are mostly covering Ali in the e-commerce; they have also created a bunch of short video matrix with Quick hands and headlines grab the user time.
It can be said that social life is not dead, Tencent eternal life. But compared with Netease, what is left in addition to the game?
The e-commerce business that was once highly valued by Ding Lei may not be his good prescription. According to NetEase's second-quarter earnings report, its e-commerce business revenue increased by 75.2% year-on-year to RMB 4.37 billion. However, under high growth, it should not be overlooked that since the fourth quarter of 2017, the operating costs of NetEase's e-commerce business have exceeded the game for three consecutive quarters.
The ceiling of the vertical e-commerce itself is limited, plus the easy access to the Internet and easy selection of NetEase, are still in the expansion period. Self-operated warehouses, independent brands, and offline layouts all require capital investment. However, the growth rate of China's Haitao users has slowed down since the end of 2017, and the growth rate is far less than that of domestic e-commerce itself. Not only is it difficult to match Tmall and Jingdong, but it will also surpass the competition. Especially in the premise of Taobao, Jingdong, Xiaomi, etc. on the line of the selection of the election, Beijing and other types of NetEase.
The game growth encounters the threshold. This year's NetEase has no explosive game. The e-commerce business has a veteran and new recruits. The stock price has fallen and Wall Street needs a new story.
The title of this story may be called live broadcast.
At the Netease Games early adopting conference in February this year, Wang Yi, vice president of Netease Games, said that Netease will spend 1.3 billion to develop e-sports and live broadcast services in 2018, of which 1 billion yuan will be set up to build an event system, and another 300 million yuan for live broadcast cooperation. National People's Star Creation Program.
Not long ago, Netease Cloud Music's new music live product "LOOK live broadcast" was also officially launched to create the most suitable online platform for music performance. And NetEase just announced on November 12 that its music streaming media platform Netease Music has completed a new round of financing, increasing the total to 600 million US dollars.
In fact, before this, Netease had a long-term layout in the field of live broadcasting. Netease live broadcasts in the news, there are Netease bobo and Mint live broadcast, and there is CC live broadcast in the field of e-sports games.
Even in a recent interview with the whole people, insiders revealed to Yanjiao Entertainment (id: ylwanjia) that Netease had borrowed millions when the national broadcast was in jeopardy. The insider said that “Netease’s original live broadcast products were relatively Weak, and the national channel is relatively complete, may be acquired by Netease. ”
Netease missed the live air outlet
In recent years, what is Netease's fist product? Netease cloud music, which does not have nearly 500 million users, belongs.
If it wasn't for the Tencent Music prospectus, Netease Cloud immediately pulled Baidu's investment on the live broadcast project. It seems that the outside world does not see Netease's smashing in the live broadcast business.
According to the prospectus submitted by Tencent Music, online music is generally difficult to earn. Under the prospect of overseas counterpart Spotify losing $1.5 billion last year, Tencent Music Entertainment's 2017 annual revenue was 9.4 billion yuan, close to the 10 billion mark, and the profit was 1.88 billion. . The most important contribution is the live broadcast. (You can refer to the article sent by the lord: live to save the Chinese music platform)
But when Tencent Music entered the Nasdaq with 9.4 billion annual revenue, Netease Cloud Music was still on the verge of balance.
The live music lost the next city, the show field and the live game field. The layout of Netease in the past two years is far behind the entire industry.
For example, in 2012, the game voice function was launched, and in 2016, it was upgraded to become the CC live broadcast of the live broadcast platform. Nowadays, the status has long been precarious.
According to the official introduction, CC Live is a game beauty entertainment live app platform of Netease. Netease, as the largest self-developed game company in China, has the copyrights of high-quality games such as "Fantasy Westward Journey" and "Westward Journey", and is also the agent of China for the hot games such as Hearthstone and Watchman. The live broadcast attracted a lot of loyal traffic. As of the end of 2015, the number of registered users of Netease CC has exceeded 100 million.
According to the report released by the Speedway Research Institute in early 2018, Netease CC ranked inferior in the download volume of the game live broadcast, only ranked ninth.
According to a live broadcast industry ranking jointly published by Internet Weekly and eNet Research Institute, Netease CC ranked 24th, far from the head.
The old rival Tencent left the fighting fish, holding the tiger's teeth right, and he also gave birth to a penguin esport. In contrast, Netease has made a small contribution in the field of e-sports live broadcasting.
Not only that, Netease, the live broadcast business in the field of information and show, also came into an early morning, and it was a late episode. Netease bobo, which was established in 2014, did not win the old giants such as YY and 9158. Even in terms of popularity, it was slightly less popular than the new unicorns such as Momo, Zanjiao and Yingke.
This may also be related to Netease's swing in the live broadcast business. It is understood that NetEase bobo, mint and other live broadcast business belongs to Netease Media, and Netease Media is the first to broadcast live news.
However, the information broadcast is too far from the money, and the business prospects are not clear. After the failure of NetEase Media's listing in 2016, the story of re-packaging live broadcasts began with high-level turmoil. Netease CC was also renamed CC live broadcast before and after, Mint live broadcast was also on the line soon after.
Netease has a live broadcast and a play? Yanjiao Entertainment Investment (id: ylwanjia) believes that after the live broadcast pattern has been established, NetEase is not difficult to make money by live broadcast. It is difficult to rely on live broadcast.
Taking the music live platform Look under Netease Cloud Music as an example, the problem facing Netease Cloud Music is the copyright. As we all know, the current music copyright has almost been monopolized by TME. The popularity of the anchor to sing Chinese is meant to mean that Netease will pay a large license fee to TME.
Although Netease Cloud Music is also trying to create a group of independent musicians and works, but the audience of independent music is a minority, these users are not necessarily the main body of live broadcast.
In the field of live games, Netease faces the dilemma that users follow the anchor, and as the price of the anchor rises, it means the cost rises.
Insiders revealed that CC's internal positioning in NetEase is more about strategic defense. As a live broadcast platform in the game field, CC's main resources tend to be Netease's self-developed games. For games like the League of Legends and Survival, there are fewer games in the market, and there are few popular anchors. This has made CC's position in the circle always lukewarm.
In the live broadcast field, NetEase is facing the perfection of policies and supervision. Similar to the “blank ball” method, it is no longer used. How to snatch traffic from other users' stable platforms is a problem.
Why is it live?
Why does Netease repackage the live broadcast in 2016?
The failure of Netease's listing was one of them. Another point was that in the three live broadcast platforms with over one billion in the past, the founders had more or less mixed with Ding Lei.
The three platforms are 9158 (Fu Zhengjun), YY (Li Xueling) and Momo (Tang Yan). One of them is Ding Lei's fellow, and the other is Ding Lei's men.
Fu Zhengjun and Netease's Ding Lei are both Zhejiang businessmen in the Internet circle. The two have many similarities. Both started Internet entrepreneurship in 1997. Ding Lei got the first bucket for Guangzhou Telecom by selling an email system. Jin, Fu Zhengjun is starting to help China Telecom do the search, and then rely on the live broadcast of the city.
Both of them are relatively low-key, giving people the impression of making a fortune, making business more profitable, and paying more attention to providing services to the grassroots. The game is so live. The consistent Zheshang style of the body has been fully demonstrated.
However, Fu Zhengjun belonged to the group of people who were the first to broadcast live in the show. When 9158 was established, Netease was still on the road of online games. It was free to grab the market with Tencent in the IM field, and it really did not take care of the live broadcast.
The most important thing is that the live gold absorption ability has not been noticed by Ding Lei.
What really makes NetEase start to be alert is Li Xueling's YY. This incubating and multi-playing voice tool has been launched in 2010 and 2011 for entertainment and game live broadcast services.
Prior to this, the number of losses in 2010 was as high as 239 million. After the live broadcast in 2012, the revenue of the gathering year reached 820 million yuan (about 131.6 million US dollars), and the net profit reached 89.2 million yuan. $14.30 million).
Soon after the release of the gathering, Netease CC was officially launched.
The second time that Netease was alert was Momo.
Before 2016, the Momo, which is mainly engaged in the socialization of strangers, reached a precarious situation in various environments such as imbalance between men and women and policies and regulations. Relying on the live broadcast of the mobile Internet era, the revenue of Mo Mo has risen sharply in 2016, and the stock price has tripled.
In 2016, NetEase CC changed its name to CC Live. Subsequently, Mint live on the line, the main mobile show live.
Ding Lei is the ceiling of Netease?
Ding Lei is a state of uncontested in the impression of ordinary people. The Buddha is tied up with “good people” and Zhang Chaoyang is also sighing.
So far, Ding Lei is one of the few big men who have never published a book. Tencent has published "Tencent Biography", Baidu has released "Intelligent Revolution", Liu Qiangdong has spoken out, and Ali and Ma Yun's books have become a model of successful learning. Filled with every angle of the airport bookstore. In comparison, he was listed on the Nasdaq in 2000, and he did not leave any words in 2003 when he reached the top of the country.
When Warcraft is on fire, the player calls him "three stone thieves"; he is frank; when the yin and yang masters are hot, the user screams "do not give ssr Ding Lei violent" & he is happy; in his eyes, it seems There is nothing that can't be solved by a Weiyang pork. If there is, it may be two episodes of "Little Pig Page".
In recent years, his figure seems to be gradually drifting away from NetEase's main business. He ran to select the recommended product list, and then went to the cloud music commentary area to leave a message. From the pig farm owner, he turned to Wuyishan tea farmer, a big hidden in the city. Look like that.
In fact, this face Ding Lei is only open to users. As the saying goes, a qualified businessman should always remember that "user is God".
But for the employees, Ding boss's word of mouth is mixed. “Little chicken intestines” is perhaps one of them.
There is a saying in the circle, called "Netease Nete, the soldiers of the water", Li Xueling and Tang Yan should have a deep understanding.
Why did Tang Yan and Li Xueling leave the company for the time being, but neither of them won the support of Ding Lei before leaving the company. The former was later developed by Zihui and Jingwei, while the latter had a well-known label, “Lei Jun’s younger brother”.
In 2014, on the eve of Momo's listing in the US, Netease handed out the gods to make up the knife and issued a statement saying that Tang Yan, the founder and CEO of Mo Mo, had illegal activities during his work in NetEase. He lost his professional ethics and used his position to transport his wife's company. The interest was also detained by the Chinese police for 10 days in 2007 due to personal style problems.
At the time of the YY listing in 2012, Netease Technology was the only media that did not mention this. Even in November 2014, Netease issued an announcement accusing the broadcast of "Fantasy Westward Journey 2" in the era of gathering, and the two relations officially broke down.
Ding Lei’s move may be related to the cakes of Netease.
Behind Tang Yan’s report, NetEase and Momo’s logo were defeated; behind Li Xueling’s prosecution, NetEase was going to play on the live game.
Interestingly, it is actually relying on World of Warcraft to play more. Early users of YY are also almost WOW users. Later, World of Warcraft was represented by NetEase, and Netease became the traffic pool of YY.
But watching YY start a tall building in his own territory, you said Ding Lei is not angry!
There are still many such examples. For example, Xu Bo, who was thrown out some time ago, also succumbed to NetEase after leaving his post.
For Ding Lei, there is no interest involved, and smiles are welcome; but who dares to move my cake, though far away.
In the eyes of Ding Lei, who is extremely realistic, the ability to liquidize means the promotion space within NetEase.
For example, since 2004, Netease has not had any option rewards for executives in the portal business unit. Portals that are not valued are beginning to sprout their own strength, and many others start their businesses and finance and leave. In the years when the Netease portal was the most frequent, the Netease portal had seven deputy editor-level executives or above leaving the company.
There are still many people who have commented that Ding Lei is a Wen Qing, the most emotional big man in the Internet circle. Do not believe that you see Ding Lei's most recent platform in the last two years is Netease Cloud and Netease strictly selected, "just under the premise of paying attention to the quality of life, but also longing for poetry and distance." ”
Got it, when the Nasdaq crashed in 2001, Ding Lei almost sold NetEase. Later, it was not the game that saved Netease, it was SP.
That was the earliest original sin of the Internet, and the public opinion was more violent than the game.
It’s a bit far away. What I want to say is that in recent years, Netease has missed the wind, whether it is live or group purchase, O2O or travel, one reason is that Ding Lei is slow, not waiting until the business model is clear; there is another reason It may be that no soldiers are available.
However, compared with several other outlets, the live-off business close to the money is simply matched with NetEase.
It is recommended that Ding Boss not only engage in live broadcasts in the game field and NetEase cloud music, and can conduct live broadcasts in the strictly selected workshops, confirming that it is indeed the same factory as muji big-name; in the koala sea purchase, the live broadcast proves that the purchasing process is not falsified; Live on the farm, let users really rest assured that the meat on the table … …
Is Netease not too distracted between products that have been criticized? I think it would be nice to use live broadcast to ecologicalize.