Is it that difficult to see clearly about content entrepreneurship?
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Luo Zhenyu held a meeting on content entrepreneurship and summarized 15 points that circulated online. Luo Zhenyu's Luoji Siwei is probably one of the top three or four most successful players in content entrepreneurship , but it is hard to say who is number one. There are only a few things I can remember from what he said. First, content entrepreneurship is not a hot topic and there is no clear feasibility of growing it now. Second, only top content can make money, not necessarily big Vs. He did not explain what the top content is. A few days ago, several well-known investors in the content field held a closed-door meeting to discuss the path and trends of content entrepreneurship, but no conclusion was reached. These are just two small examples. By the end of 2015, the number of WeChat public accounts had exceeded 10 million. What time is it now? I'm too lazy to check the data, there's a lot of it anyway. So many people are concerned about the issue of content entrepreneurship, so it is necessary to study this issue. First, let’s define content entrepreneurship. Broadly speaking, movies , sports, television, newspapers and magazines are all content. NBA Commissioner David Silver said: "We are actually a content producer." This is absolutely true. Because the production cost of sports and video program content is too high and requires a high level of professionalism. The Internet has not changed it much, it is still the same as before. Movies, television, and sports are expensive and difficult to produce. No matter how advanced the Internet becomes, these basic characteristics will not change. This is a fact. The so-called content entrepreneurship mainly refers to content that can be produced at low cost. In the case of traditional paper media, what can be produced at a low cost is mainly text, which may also be read aloud and voiced. The biggest advantage of text is that it is extremely simple to produce. Sitting on the sofa, the author mumbles into his notebook, then converts it into text, makes some revisions and publishes it. From the consumer's perspective, the advantage of text is that it has the highest information density. You have no way to adjust the progress when watching videos or listening to audio. I can read ten lines of text at a glance, and it is normal to read a thousand words in one minute. In the reality of huge amount of information, this is the greatest vitality of text content. The traditional text market is well aware that China's book industry now generates sales of approximately more than 100 billion yuan per year. A large part of them are textbooks and teaching aids that are required to be purchased. I estimate that the number of books purchased voluntarily by users is around 30 to 40 billion. At its peak, the newspaper industry had revenue of approximately 70 billion, magazines over 20 billion, and total capacity of approximately 100 billion. The era of mobile Internet . Users are rapidly abandoning print media. Since electronic media is more convenient than paper media, the final total readership of electronic text media is likely to more than double that of paper media. Users have limited time, and the output is magnified by far more than double, so the proportion of text read in the electronic media era is much lower than that in the paper media era. Internet content creation can be simply seen as a substitute for paper media. Therefore, print media is the best reference for Internet content. The advertisement is easier to see. In 2016, the total advertising capacity of print media was approximately US$15 billion. Assuming that all of it is transferred to the Internet for reading, the total capacity is more than US$15 billion. The money users spend on buying newspapers, magazines and books is equivalent to paying for the content, but this part is subject to a significant discount, which will be discussed below. The characteristics of new media are that we call what is written on the Internet self-media . In fact, the name has long been a misnomer. The vast majority of self-media that aim to make money or have already made money have a team. There may be as few as three or two people, or as many as dozens or even hundreds of people. It is no different from traditional media. We don’t use the term “self-media”; it is more appropriate to use the term “new media”. For self-media, it is initially written by one person. As the writing progresses, if there is a potential, a team will be formed and the media will be expanded to become a team media. Several large new media I know, including Luoji Siwei, Wu Xiaobo Channel, and Mimi Meng , all had revenues of around 100 million yuan last year, and their teams have dozens of people. If traditional media do well, they usually only earn a few hundred million yuan. For example, at its peak, Reader’s annual revenue was close to 200 million yuan, a figure that may very well be the upper limit for new media. The basic rule of survival for the media is that each media outlet finds its own market segment and works hard on its own little piece of land. It is almost impossible to become bigger. New media will also follow the same rules. Due to the extreme diversity of demand, content suppliers will also have their own strengths. In the long run, the one who effectively finds the market segments will live, and the one who can’t will die. The chances of doing something big are slim. The first difference between new media and traditional paper media is that new media is highly dependent on individuals. Although there are some famous editors-in-chief in traditional print media, there is basically no model in which a newspaper or magazine relies solely on the editor-in-chief. This is not the case with new media. In the beginning, there were individuals and organizations that produced electronic media, and most traditional media also had electronic versions (but most of them were not attractive). In the end, it was the new media driven by large accounts that came to the fore. In other words, the power of natural selection has been demonstrated in the past few years, that is, new media based on individual monopoly are more dynamic than new media trying to win by content. Why is new media more dependent on individuals? I thought about this issue from many angles, and later discovered that relying on individuals is the true state of people's reading content, and relying on a certain magazine is just a forced choice in the era of paper media. In the era of paper media, books are also highly dependent on individuals. Many writers have their own loyal fans who will buy any book they publish. There are only dozens of books a year that are best-sellers due to their subject matter, which actually accounts for a very low proportion. It is very common for traditional media or programs to rely on individuals. From movie actors to sports stars, from talk shows to program hosts, the degree of dependence on individuals is relatively high. Compared with traditional methods, the Internet has an additional feature: interactivity. Readers and authors, actors and audiences can communicate on the Internet. Although the disparity in the number of people on both sides is too great, especially since communication between customers and influencers is only a small and light exchange, this alone can bring the two sides closer together and make new media significantly dependent on individuals. Subtle differences in many industries lead to different operating models. The corporate consulting industry usually prioritizes company brands, while the consumer product brand planning industry focuses on the celebrity boss approach. Because corporate consulting is actually an engineering project that requires some people to refine some specific aspects, while brand planning inspiration plays a much larger role. I believe that not many people can think of this. If you ask the consulting industry and the brand planning industry why there is such a difference, they themselves cannot explain it. However, even though people cannot express it, they will make relatively correct choices subconsciously. Recently I have been pondering the logic of buying and selling many kinds of goods, and I found that consumers are actually much smarter than we think, but these logics are invisible and not easy to express clearly. New media relies more on individuals rather than the traditional magazine-style model of multi-person creation and focusing on one direction. This is already a very clear trend. In fact, the profound reason is that human beings are essentially social animals. Social animals pay more attention to the relationships among members, and animal instincts always dominate the most basic human behaviors. The Matthew effect is even more obvious. As long as there are people involved in something, the Matthew effect will appear in most cases. What prevents the scale of the Matthew effect are barriers, and what corrects the Matthew effect are revolutions or collapses. Traditional media have many barriers that block the Matthew effect. For example, each place has its own daily and evening newspapers, and national media also have some diffusion cost barriers. For new media, all barriers do not exist, so new media will inevitably show a strong Matthew effect. I think that category becoming the only differentiating item is a theoretical explanation for what Luo Zhenyu said that only top content can be charged for. Although new media has a stronger Matthew effect, its reliance on individual top stars limits its potential scale. Traditional media can form groups. For example, the Southern Media Group has many magazines and newspapers under it, but new media cannot do this. New media that rely on individuals find it much more difficult to expand their product categories. There is nothing new about charging for content in all new media. There is not much difference between subscribing to content and subscribing to traditional magazines, except that new media does not require distribution costs, so the money earned can be more substantial. Making money writing on the Internet is a mature old model. Tang Jia San Shao can earn hundreds of millions every year by writing online novels, and the new media is about the same level. Online novels charge through the continuity of the story and the "urgency fee" that readers must pay to read it first, while new media charge through "personality barriers". When the author's popularity reaches a certain level, the number of people with a lower probability and a stronger willingness to pay will be considerable, so they can make a lot of money. For example, Wu Xiaobo’s audio reading subscriptions exceed 100,000. If there were no discounts for team purchases, his annual revenue would be as high as more than 20 million. What prevents charging from expanding is that there are always a large number of authors in the same category providing similar free content because they want to maximize their influence for various reasons. In principle, I am not very optimistic about charging for content. Luo Zhenyu's 19 paid authors generated about 100 million yuan in revenue last year. Shanda Literature has basically monopolized the content charging of the largest category, novels, with annual revenue of approximately 1 billion yuan, which is still a small case compared with book publishing. Because Shanda Literature has been operating for many years, its operating conditions have great reference value. Traditional media actually charges mandatory fees. If you want to read Reader, you have to buy a copy, while new media requires payment voluntarily. I estimate that the ultimate limit may be one-tenth of that of the traditional publishing industry. The conclusion is that the market space for new media advertising will exceed that of print media in the future, and it is very likely that the final market space will reach 3 billion US dollars. Charging for content is a very small market. So, the most important question arises, which is how to advertise on new media? The key is how to divide the spoils between authors and platforms and how to get a bigger piece of the pie in this market. Mobile application product promotion service: APP promotion service Qinggua Media advertising The author of this article @孟庆祥 compiled and published by (Qinggua Media). Please indicate the author information and source when reprinting! Site Map |
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