Home Ā» Gong Yu, CEO of iQiyi, called for the price increase of online movies. Can the existing payment model continue? _Platform_user_content

Gong Yu, CEO of iQiyi, called for the price increase of online movies. Can the existing payment model continue? _Platform_user_content

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Original title: iQIYI CEO Gong Yu called on online movie prices to increase. Can the existing payment model continue?

Economic Observer Network reporter Xie Chuchu On December 29, in the roundtable dialogue at the opening forum of the 2021 China Golden Rooster and Hundred Flowers Film Festival, iQiyi CEO Gong Yu proposed that the business model of Internet film must be innovative. The original model has a ceiling and you can try more single-chip on-demand. He also said, “Internet (movie) ticket prices have risen, 6 yuan, too low!”

When Gong Yu attended a forum in November this year, he mentioned that membership services have become the largest income of online film and television.

Nowadays, the outside world is not so optimistic about the price increase of iQiyi online movies. In addition to iQiyi’s large-scale purchase of copyrights, which has caused excessive costs and bottlenecks in user growth, the online movie payment model itself also has certain problems.

A film and television analyst said that there are two types of online movies, one is the cinema transfer to the video platform after the window period; the other is the original movie on the video platform. Considering that the supply of entertainment content exceeds the demand, users will tend to obtain verified good content in a limited time. The head work of theatrical movies is usually of higher quality, and the content of short videos and long videos is richer. When cinema movies are transferred to video platforms, their original online movies are at the end of the food chain.

Regarding the first type, a media Internet analyst also talked about its limitations. The analyst believes that if the streaming media platform increases prices on the basis of 6 yuan on-demand, users will not wait until the theater movie has passed the window period to transfer to the platform before watching the movie. In contrast, cinema viewing is more cost-effective. The most deadly point is that the domestic piracy environment makes it difficult to sustain the online movie payment model. “As long as a movie is streamed, there will be piracy.” And on a certain shopping platform, 10 yuan can win a one-month membership of Netflix.

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Song Jia, the general manager of iQiyi Film Center, once introduced the innovation and exploration stage of iQiyiā€™s online film business model in the past ten years, from purely purchasing imported blockbusters, paying for domestic films, to the concept of online big movies, and then to membership + PVOD monolithic. The payment model is superimposed.

At the beginning of its establishment in 2010, iQiyi began to prepare for the payment business. Paid membership was launched in the first half of 2011. The development of iQiyiā€™s membership model started with paid-to-watch movies, because audiences have a consumer psychology basis for buying tickets to watch movies. At the beginning, I took many detours. For example, I started to focus on Hollywood movies and purchased a lot of Hollywood movies. However, Hollywood movies have a global scale, a century-old basis, and a fixed payment and accounting model. The platform is basically unable to make a profit. At the same time, new movies All online is a single-chip payment model. But at that time, it was difficult for users to even consume one monthly subscription, let alone make them pay separately for a certain movie.

Subsequently, iQiyi spent huge sums of money to exclusively purchase “Transformers 3” in 2011. The box office champion of the year was open to all members, but found that the effect was not good. Until 2014, iQiyi made another attempt. , To change domestic movies to a paid model (previously, domestic movies were all watched for free on the Internet). That year, iQiyi exclusively purchased “Beijing Love Story”, which went live on iQiyi one month after it was released in theaters. All members can watch it for free, and then switch it to free. The results found that the effect was very good. As a result, the entire video platform industry has jointly promoted the payment of domestic films. Since then, movies have basically bid farewell to the mode of free online viewing. The first 5 million members of iQiyi were pulled through movies. With the gradual maturity of the membership model, theatrical movies have obtained new ways of monetizing through the sale of online copyrights. Now the recovery of online copyrights accounts for a high proportion of the recycling model of a cinematic movie.

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In 2014, iQiyi took the lead in proposing the concept of online movie, which opened up a brand-new Internet movie content production and distribution market. After 7 years of development, the scale of the online movie industry has reached several billion, with an average of more than 1,000 works online every year.

According to overseas streaming media experience, iQiyi began to implement the superimposed development of the membership + PVOD single-chip payment model in early February 2020, that is, high-quality movies are first paid for a single point, then transferred to members to watch, and then transferred to the free mode.

The full name of the PVOD model is called Premium Video on Demand (Premium Video on Demand). This model breaks the traditional 90-day issuance window period. Users can pay for a single chip in a shorter time window, or even the first window period, on the streaming media platform. Get new movies. This model was implemented by Hollywood studios in 2017. In April 2020, Universal Pictures first launched the first online streaming media distribution. Its animation “Tangling 2” is the first film to be released online in the form of PVOD. It is priced at $19.99 and has revenue of nearly $100 million in three weeks. Compared with the five-to-five box office share between North American theaters and film owners, the online distribution model film owners can retain approximately 80% of the digital lease or purchase costs. This also makes “Magic Wizard 2” a classic case of North American PVOD mode. Subsequently, major studios such as Disney and Warner are also undergoing the largest corporate structure and function adjustments in many years, with the goal of finding the best distribution method for each film work.

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It is the epidemic that has caused more and more changes and changes in the service model and matching business model of global streaming media. While participating in the reform, iQiyi also faced many difficulties, such as the integration of online ticketing and viewing products, new marketing methodology, and how to control piracy.Return to Sohu to see more

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