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Source: new entropy (ID: Baoliao Hui)
The full moon has passed, and the market has gradually regain its sober Kwai. It began to stumble from the end of last month. The peak value of the fastest market has shrunk by about 450 billion, almost 1.5 of the B station.
Kwai's financial data is not hard to find. The fast business is now in a similar position to its B station. The game business that once occupied B station revenue 80% in 2018, is currently on the fast track, corresponding to nearly 70% of Kwai live business.
Revenue is too dependent on a single business, which is obviously not the performance of a top five Internet giant. Suhua, a well-informed company, began to lay out its diversified businesses as early as many years ago, including games, e-sports, education, entertainment, artificial intelligence, tools for the middle-aged and the elderly, and pet lovers' community. It covers a wide range of fields.
With the support of Kwai Fu and the blueprint of fast play, Su Hua sent an old partner, Cheng Yi Xiao, and his wife Tang Yuyu to take the helm. On the ChinaJoy before the listing, Kwai has announced that it will invest 5 billion of the funds to support the game content.
Three years of heavy attention, average results
In the words of Kwai Hua, the industry quickly missed many industries and gave up many things. However, the philosophy of engineers should be closer to business in the environment of market economy.
Since 2017, Kwai has begun to invest in external related industrial chains and project incubation. One of the representatives is the registered legal representative, Jia Hongyi, the supervisor of A station (Acfun), the actual controller and the final beneficiary as Yang Yuanxi, the legal representative of Beijing Kwai yuan.
Three studios, two major distribution companies and three R & D companies are all the territory of Moyuan technology at present. In 2020, Kwai first took the original self run game team to take charge of the previous live game team, and then the A station team that was bought two years ago was assigned to the game team management.
But carefully combing Kwai game business development for three years, whether it is live broadcast, distribution or heavy self research, it seems to leave a heavy rain and small impression.
Tiktok and tiger teeth rely on the content of the game, and the first time to open the big live broadcast era. The Kwai and jitter are cut into the vertical Game track from the life and entertainment fields of the larger cardinal numbers, and instantly the tentacles of Google investment background and other mobile games live platform are squeezed out of the market.
After entering the second half of the game live war, the root cause of IP ownership of short video and live content has even been put on the table.
Tiger teeth, which have the most competitive copyright, join hands with the fight fish to control the top 60% anchor resources of the industry. After the merger of the two, plus the entry of B station, Kwai Chung has a lot of pressure on the newcomers of the same camp.
From the merger of the "King glory" occupation club YTG and the KPL League copyright action, Kwai's game layout is more biased towards mobile terminals. "The glory of the king" and "the peace elite" are the mainstream content sources, but they can't satisfy Suhua's ambition, that is, they don't know how much effect the 5 billion support fund can bring in this red sea market.
Channel distribution is a short video platform with its own traffic attribute, and it is impossible to turn a blind eye to the juicy fruit. Tiktok is relying on the advantages of traffic, using Ohayoo platform to create the foundation of its own game empire.
The fast shot is not too late in the game area. The independent App of Kwai Kwai game launched the popular break up of "break in class" and "chess table" at the beginning of 2018.
However, long time Kwai's dream has not been long enough, and the Department has changed its name because of the adjustment of the Department. App changed its name to the Kwai Fu electric pill and transformed the community. Finally, it returned to the small program of the short video platform itself, and then plotting new situation.
The same is the A station platform and team that was under Kwai's income in 2018. The vertical two dimension user group has become a successful way to emulate B station. However, due to the lack of experience in team transport, game titles, soft and pornographic content and other issues, the highly expected two-dimensional game "fate: Dream link" transport failed to escape the short-lived fate, leaving a lot of chicken feathers after a small reputation.
Serious game self research pit, Kwai Tai also many steps. Before the MIHA Tour "original God" swept the world, a similar open World RPG mobile game "empty Island Genesis" was launched, which ended up with the payment data failing to meet the expectation.
In the three years of the history of the game, there have been highlight moments, but the harvest is more painful lessons. Make snap the Empire of game at present, Kwai has not found the solid point of effort that starts from the ground. The team's bold integration and the hot money effect brought after the listing is just the first step of reorganizing the road.
The game market in developed countries has experienced a complete era of console games. Users who have experienced the baptism of 3A games have critical vision and requirements for the later online games.
This kind of characteristic national conditions also created the phenomenon that the channel is the king in the early development of the domestic game industry. The rise of Tencent game is inseparable from the traffic introduction of social tools QQ and wechat.
However, in the era of information revolution and industrial globalization, the Internet has flattened the information gap and depression in the global market, and all market players are basically in the same plane.
Starting from the basic principles of market competition, the essence of the theory of "flow is king" needs to be established on the premise that there is no obvious difference in the quality of products in the seller's market, or consumers in the buyer's market are not sensitive to the advantages and disadvantages of different products.
Kwai tiktok, the only market window that fits this logic, is the casual game area that has been defeated in the battle between fast hand and jitter. The characteristics of small games determine that they will not be affected by the performance of different devices and the level of R & D strength. Users will only care about how to experience the fun more conveniently and quickly.
This is why chess and card games can become a sharp weapon for small studios to cut into the cracks of big factories: the core playing method belongs to public IP, and the art presentation is simple and lively. Unless you want to have an acquaintance meeting with wechat friends, users don't care about fighting a landlord. They must use the platform of Tencent or Netease.
Capital plays a more limited role in the game industry, and it does not mean that the cash reserves of the head manufacturers are much higher than those of the fast ones. It is also the independent development team that is a well-known individual in the M & A, but Kwai Kwai can not stop the other cash seeking methods besides strengthening the live broadcasting, advertising and business of the electricity supplier.
Just a few days ago, the Kwai's Chengdu entity business information changed, and its business scope added to the medical related content.
As everyone knows the cash wall of the gaming industry, whether the cash left by the Kwai can leave the soaring business is a question mark.
It takes time and people to carry the flag
With the help of flow and capital, byte beating's game business can become one of the first-line manufacturers. However, it can't do without seizing the blue ocean opportunity of domestic leisure games and the agent of "Legend of Wonderland ro: the birth of a new generation".
When PC end games were still in the mainstream of the game market, behind Tencent and Netease, many big companies such as perfect world, Xishanju and giant could barely keep up with the team.
In the era of mobile games, Tencent and Netease firmly occupy the two poles of the ranks of manufacturers by relying on the two works of "King's glory" and "Yin Yang master".
Aligame, which has been transformed from Jiuyou, has been searching for the gate of the game track for six years before finally turning over by relying on the strategic version of the Three Kingdoms.
At present, the game industry seems to belong to the players with popular IP. There are many successful cases, such as the collapse of the garden, the original God, the ark of tomorrow, Lilith's the awakening of nations, and so on.
But behind the popular models, there are three hidden logic: the popularity of new game playing methods, the change of user market taste and the application of revolutionary technology.
Kwai do doesn't have to be the first to eat crab, but it must have the ability to quickly take part in the game after giving positive feedback in the market.
The typical case of users' taste change is the popularity of the secondary market. In the past, the minority circle, which was excluded by the mainstream society, has become the main consumption force of generation Z. behind the popularity of "Yin Yang master" and the success of station B, there are two dimensions.
Although the Kwai game has two stations in the country, the A station of the community's originator, but facing the market that is already in the Red Sea, it is difficult to have it again.
The last opportunity is the popularization of emerging technologies. Without the popularization of mobile devices, big companies like perfect world and Xishanju are still dreaming. But the cloud game technology, which is recognized as the next generation of game technology revolution, has been warming up on the starting line.
The Kwai live broadcast technology has a natural fit with the landing of the cloud game, but the volume action is not as good as the news of the fighting fish and tiger teeth. Although cloud games have been widely used and criticized for their user experience, it has long been recognized as a hero in the industry to start early.
After the listing, the fast track, sitting on the flow and capital of the land, in addition to the need to seize the next game industry Kwai Chung, indispensable and the people of their own team.
According to Tech planet and fast hand insiders, Kwai Kwai is the most lacking in talent in the development of games. The lack of talent has made the development of Kwai game slower than bytes.