Jing Gao sat at the top of the conference table, with the iQiyi software running on the Huawei mobile phone interface in his hand.
Now iQiyi’s interface is very clean, without those messy advertisements. It has fully learned Netflix’s model and has completely different operating models from the other two major domestic Internet long-form video platforms: Tencent Video and Youku.
If a user does not have a membership, he or she cannot use iQiyi's services.
In fact, the current domestic Internet environment has reached the fourth quarter of 2018. Many Internet software require users to authorize, register, and log in before they can use it and see relevant information. The most typical ones are "Dianping" owned by Meituan, and
Ctrip website.
It's just that iQiyi's approach is very radical. Users register as members using their mobile phones and must pay a membership fee before they can use it. Other websites and software only require the user's user information and mobile phone number. There is no need to recharge to open a membership.
, ready to use.
However, iQiyi collects money directly. The current radical strategy has also caused iQiyi’s membership number to plummet, from 80.7 million members in the third quarter of 2018 to 38 million members.
And because iQiyi divested its "value-added business" into "Qiyi Super Coal", its revenue in the third quarter was about 1 billion US dollars, and it plummeted after entering the fourth quarter. It is now mid-November, and the revenue in October
The collection data has been compiled, and it is appalling.
For this reason, iQiyi's share price also plummeted in the U.S. stock market. From a market value hovering at US$18 billion, it fell directly to US$12 billion.
This also provides an extremely good reason for iQiyi to apply to the U.S. Securities and Exchange Commission for delisting.
Since the U.S. capital market is not optimistic about us, then we will leave.
Listening to Gong Yu's introduction, Jing Gao put down his hand and said: "Returning to Hong Kong stock market for listing is a strategic goal and must be completed as soon as possible. I will arrange it as soon as possible for the Hong Kong Stock Exchange. Lao Gong, you and Jiuge will do this.
Contact Wu Jingshu from Capital. I have only one request, and it must be done quickly!”
Gong Yu said: "Mr. Jing, I understand! The progress in the United States is slow. I have prepared the relevant legal firms and accountants' work. It is estimated that the delisting work will be completed in half a month. It is the pressure on me from the board of directors.
a bit big!"
In the large conference room No. 1, there are no members of the board of directors, only members of the management.
Chief Marketing Officer Wang Xiangjun is a female executive. She said fiercely: "Mr. Jing, Mr. Gong will fully implement the strategy you formulated in the company. You must support us on the board of directors. Otherwise, everything will be pushed back."
Guan Yujia, who was sitting next to Jing Gao, glanced at Wang Xiangjun. She didn't like someone being rude to Jing Gao, even if it was just the slightest offense!
Jing Gao smiled and nodded, reassuring the management, "It is understandable that there is pressure on the board of directors. After all, the stock price has dropped like this. I will support you. Just go ahead and do it. The road is tortuous, and the future is bright.
bright.
If shareholders have any objections, we must first listen and resolve them. After all, we have been partners for many years. Secondly, if they want to exit, we must still provide an exit path without affecting the delisting action.
Phoenix Group can continue to increase its stake in iQiyi. I am very optimistic about iQiyi’s future and have confidence in iQiyi’s stock price performance after its listing on the Hong Kong stock market.”
Gong Yu was relieved in his heart. He has really been blocking this time! The representatives of each shareholder on the board of directors have really pushed him hard during this time. This kind of thing will not hit their respective bosses all at once.
In front of the boss, but with iQiyi's stock price plummeting, the board of directors representatives may be very anxious.
"Mr. Jing, thank you!" Gong Yu continued: "Next, I will show you the production and production process of the drama "The Nine Floors", as well as the two episodes that have been piloted."
Jing Gao nodded, leaned back comfortably in his chair, and said, "Tell me about the process. I'll watch the two pilot episodes later during my lunch break."
"OK."
…
…
The drama "Nine Floors" was not completed by iQiyi's internal production team, but through a script bidding model. A small outside company called "Guangbai" won the bid and then formed a team to produce it.
What Jing Gao was explaining was iQiyi’s internal promotion, the newly appointed chief content officer Xu Tianyi. He played the prepared slides and introduced the process of internal creative generation, “First we analyze the domestic review system, and
The current audience's tastes have locked the genres into suspense, Republic of China, fantasy, and fantasy.
Gu Hao
Suspense and crime themes have become quite popular recently. The drama "Daytime Chase" is a rare good drama. We plan to imitate it. However, for the convenience of review, we will change the background of the story to the fictional Republic of China. Fantasy means adding elements such as zombies and monsters.
This facilitates the creation of special effects and creates a visual impact on the audience.
The current level of special effects in China can still be pretty good as long as you spend money.
After determining the genre, we set a budget of 100 million for this drama. Then, within half a month, we received about hundreds of scripts. After reviewing them with my team, we finally selected 'Guangbai'
Film and television's script.
Their scripts are the best! Mr. Jing, may I spare you a moment and briefly talk about the plot? The script is very exciting. I highly recommend it."
After saying this, the atmosphere in the conference room became relaxed.
Jing Gao laughed and took a sip of tea, "I'll watch it myself later. If you spoil it, I won't have the pleasure of following the show."
Gong Yu made a gesture.
Xu Tianyi continued, "After the bidding is approved, we will assign producers and financers to the production team of 'Guangbai Film and Television' to control the direction of their stories, as well as financial costs. We require the use of new actors and experienced actors.
In short, funds should be spent on cultivating the Tao and special effects, rather than on stars' remuneration.
We have already placed an order for 13 episodes of this drama. Two episodes have been produced and put on our iQiyi website with rave reviews. According to our own rating system, it currently has a score of 8.8.
This represents users' expectations and recognition of our drama. Of course, there are mixed reviews on Douban. Internally, we believe that there are signs of trolls taking the lead. After all, it is impossible for our friends to watch us walk out on such a golden road. This is
Our highlight of the year! Transformational work.”
Jing Gao smiled slightly, "Is it worse? Don't worry about their little tricks. Douban's rating system has a big problem. It only represents the taste of their user group. Please go back and join forces with Phoenix Films to build a rating website.
Is this the first time this shooting mode works? Are there any problems?"
Xu Tianyi said without hesitation: "Mr. Jing, there are indeed many problems. We have discussed this internally many times. The first big issue is the topic selection of the script. If the entire company's script selection is
There is only one genre, which will inevitably lead to the homogeneity of all the dramas on the website.
I ask General Empress Gong for instructions..."
Gong Yu smiled and waved his hand, "No. We discussed it together."
Xu Tianyi smiled and continued: "Our internal plan is still the same as before, which is to set up different topic selection groups, with two or three people forming a team. Performance will speak for itself, and performance will be linked to bonuses."
Gong Yu interjected, "Mr. Jing, this actually raises new questions, such as how do we judge the excellence of this drama? The most intuitive ones are the ratings and the number of times members have played it.
Is it possible that there is some kind of deviation or fraud in these data? At present, the rice circle is rampant, and it is difficult for us to ensure that the clicks and ratings of each account are from members one by one, and not manipulated.
The best way is to increase membership fees. This will increase the cost of operations and make them unprofitable.
Secondly, we currently do not have a channel to monetize popular dramas. In the past, after the drama became popular, we could sell advertisements, and the contracted actors could receive commercial endorsements. We could also sell peripherals. But now we cannot operate it.
The only monetization model is to increase membership fees, and the stock price will be reflected. This road is bound to go hand-in-hand!"
Jing Gao nodded, pondered slightly, and looked at Xu Tianyi, the chief content officer who was eager to try, "Go on, do you have any questions?"
Xu Tianyi said: "Mr. Jing, after the problems encountered in selecting the script title, we also encountered a big problem, that is, there is a good script, but the company that wins the bid may not have a good production team. For example, a little bit
TV directors who are capable will basically not be recruited by small companies.
Another example: the Fuhua Road team. There are good teams in China, but these small companies may not be able to hire people with the funds we provide, and their schedules cannot be arranged. This requires coordination by our producers.
This greatly increases our burden and workload, and we need to constantly support different companies and teams. This makes us very painful!"
