Baofeng Video cannot become a reformer, so just accept your fate

After experiencing as many as 39 daily limit increases, Baofeng Video has gotten rid of its original "gravity", with its share price breaking through the 300 mark and its market value soaring, which is several times that of Xunlei and on par with Youku Tudou. With its own poor financial report, insufficient business diversification, and low ranking in the industry, Baofeng Video has such a performance, which is definitely a "monster stock". But it is foreseeable that Baofeng Video will not be able to continue to be such a monster, and will eventually return to the ground.

But having tasted the pleasure of getting rich overnight, Baofeng Video naturally did not want to return to mediocrity. Therefore, Baofeng Video began to continuously throw out concepts and future strategies, intending to change the industry's impression that its "skeleton" could not support its stock price. The most important one is naturally the so-called platform strategy, but when major giants are rushing to build their own platforms, does Baofeng Video still have a place to stand?

Setting the tone of platformization, Baofeng becomes more and more high-profile

Around 2012, I was still working for a traditional media company. I first met Feng Xin, the CEO of Baofeng Video, at an awards ceremony held by the company. At that time, my impression of him was that he was short and sturdy. Due to the development of Baofeng Video at that time, Feng Xin had not yet shown a domineering aura. But now, Feng Xin's wealth is no longer something that I can look up to. The soaring stock price and the rapid accumulation of personal wealth seem to have propped up Feng Xin's back, allowing him to make more plans for the future.

Recently, Feng Xin announced the company's strategy - the "DT Big Entertainment" strategy. In the next 5-10 years, Baofeng will fully transform from an online video company to an Internet entertainment platform. This kind of ambitious strategy is something that Baofeng Video has not shown before. After all, a big reason for its listing was to survive in the online video industry surrounded by many competitors. Now, as it has become a "monster stock" with a high market value, this platform strategy is more like Feng Xin's counterattack against external doubts.

Feng Xin interpreted the "DT Big Entertainment" strategy of building a platform from four aspects. DT big data, through the location of data and the coordination and transformation of products, links all services and business models of Baofeng; service diversification, based on a large user group and mainstream entertainment services with new business models, including video, music, games, etc. will be fully launched and related to each other; new business models, based on advertising and value-added services, bring new O2O services and new profit growth points; comprehensive internationalization, looking for a larger user scale and user dividends, serving global users.

It can be seen that Baofeng Video has changed its previous low-key style and is no longer silent. It is making its own voice to the industry. It turns out that money makes one strong!

It is not easy to build a platform. There are too many tigers and wolves ahead.

Unfortunately, Baofeng Video is a nouveau riche, and lacks foundation. The soaring stock price caught its top management off guard. Feng Xin mentioned that he expected the stock price to be around 100 yuan. Therefore, the hastily launched platform strategy, although it looks awkward and high-end, can also be seen in its roughness.

Not only are many contents unclear, but most of them are still at the initial stage of imagination, and even many are left over by others. For example, in the new O2O service, the so-called offline concerts are proposed, which are live broadcast and on-demand through virtual reality. Tencent has long tried this model and is well versed in its operation. In addition, comprehensive internationalization has been played out by BAT a long time ago, and it is a bit too late for Baofeng Video to do it now.

Although Baofeng Video wants to highlight the authenticity of its stock price myth by building a platform. But from its own perspective and the market environment, this is impossible. Baofeng Video has not even done the most basic online video function, and was previously sued by LeTV for copyright infringement. Moreover, Feng Xin previously stated that he would not fight a copyright war. How can Baofeng Video, which focuses on online video, retain users when copyrights are scarce? If you want to go the user-generated content or self-made drama model, I'm sorry, Youku Tudou, Sohu Video, iQiyi, etc. all control the market tightly.

Baofeng Magic Mirror, which is considered to be one of the driving forces of the stock price, is still in the stage of needing to be improved. Compared with similar foreign products, the experience is relatively backward. In the final analysis, it is just a conceptual product. Even the development team of Baofeng Magic Mirror left when they knew that Baofeng Video was about to be launched. Although it seems that the opportunity to become a billionaire has been lost, it also shows that there are still problems within Baofeng Video. Moreover, if the BAT giants and other competitors in the online video industry are determined, they may be able to develop similar products in minutes.

If you can't be a reformer, you should just accept your fate.

In order to prevent its stock price from going upside down like a roller coaster in the future, Baofeng Video has put a lot of effort into launching multiple concepts, and Feng Xin has also stepped up to advocate for the platform, appearing to be full of confidence. However, with its own single business and profit model and excessive external competition, it is difficult to expect Baofeng Video's platform construction and new business model in the future.

To put it another way, even if Baofeng Video can succeed in the future, it will not become a changer, but only a market disruptor. So, Baofeng Video is not destined to become the second Xiaomi, so it should think about how to really keep the quotation.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.