LeTV TV "9·19": All doubts turned into jokes

The development of enterprises in the Internet era is changing rapidly, with breakthroughs and declines almost overnight; among all Internet enterprises, LeTV is undoubtedly the one that has been questioned the most. But after the release of the sales data report of LeTV TV's "919 Music Fan Festival" which just ended recently, we should understand that all doubts should be put to an end.

Where does the doubt come from?

I vaguely remember the press conference on September 19, 2012, which LeTV hyped up as "Disruption Day". After the "Hollywood" opening film, LeTV CEO Jia Yueting took the stage to personally announce that LeTV will enter the smart TV market and develop and produce LeTV TV Super TV. Without direct sales personnel, stores, and agents comparable to traditional home manufacturers, LeTV Super TV has been questioned about its product quality, brand strength, and sales ability since its birth.

According to the logic of traditional home appliance manufacturers, LeTV really has no way to answer these doubts, but Jia Yueting planned his business development like this: "Traditional TV manufacturers rely on a single business model of hardware sales, and have no real control over content and the entire content and application platform operation; LeTV can rely on its open cloud video platform and massive copyright library to provide rich content and applications to change the profit model of traditional TV and establish a new business model, upgrading the single hardware sales profit to a quadruple source of income of 'hardware revenue + content revenue + application sharing + terminal advertising'." This is the theoretical logic of LeTV's subversion.

According to this LeEco ecological theory, LeEco has not only entered the field of smart hardware through super TVs and TV boxes, but also continuously touched the film and television production industry through LeEco Pictures, and entered the e-commerce platform through the expansion of LeEco Mall and developed LeEco organic agriculture. The development prospects of such a rich LeEco ecosystem are almost immeasurable.

Where will the doubts end up?

After two years of doubts about the subversion theory, they finally came to an end on September 19, 2014. After the "919 Music Fan Festival" of LeTV TV, LeTV TV officially announced that on the day of the "919 Music Fan Festival", LeTV Mall sold 100,000 Super TVs, over 40,000 accessories, with a total sales amount of 400 million yuan and a total number of participants exceeding 8 million; Super TVs set a record for the single-day sales volume and sales amount in the Chinese TV industry, and LeTV Mall set a record for the single-day sales volume and sales amount of single-brand TVs in China's B2C mall.

The "919 Music Fans Festival" can be said to be the second anniversary of LeTV Super TV's subversion of the industry, and it is also the first anniversary celebration of the launch of Super TV. To this end, LeTV TV launched real discount activities that are as good as the quality of Super TV, including buying a TV and giving it away, limited-time discounts, open purchases, gift vouchers and other promotional plans without any premium. Based on the LeTV ecosystem, insisting on pricing according to BOM, adopting the CP2C model to achieve manufacturer integration, cutting marketing costs, channel costs and unreasonable brand premiums, and reaching users directly throughout the process, LeTV TV's promotional price has far exceeded any TV sold on a comprehensive e-commerce platform. At the same time, relying on the single product of LeTV TV, LeTV Mall has created an "everyone e-commerce" model based on vertical integration of the industrial chain for Super TV.

As time goes by, the number of users continues to increase, and the industrial system continues to grow, the forward-looking advantages of the LeEco ecosystem will continue to emerge, and the LeEco ecosystem concept will also be strongly proven by facts. The so-called disruptive creation is nothing more than a corresponding response to this rapidly developing era.

LeTV's thoughts after doubts

After two years of steady development, LeTV TV has proved to us with the real results of the "919 Music Fan Festival" that LeTV TV has a fixed user group size and brand awareness. Such user scale verification is not only a milestone for LeTV TV, but also another stage victory in the comprehensive construction of LeTV ecosystem. Just like Apple's breakthrough in the field of smartphones, in the future, LeTV will further use its potential in the high ground of Internet content, technology and applications to impact the low ground of traditional TV, and become a leader in subverting traditional enterprises and Internet enterprises.

In fact, LeTV does not reject any doubts. After all, where there are doubts there will be attention. Like most innovators in history, subversive actions are often accompanied by secular doubts. LeTV hopes to use its strength to transform such doubts into attention, attention into acceptance, and acceptance into affirmation.

Similarly, after the doubts, in addition to competitors and onlookers, LeEco itself should also rethink the problems it faces in the LeEco ecosystem. How to timely transform the subversive LeEco ecosystem into commercial value, how to better demonstrate the industry advantages of the LeEco ecosystem, and what else the LeEco ecosystem can bring to users, etc.

Now that the "919 Music Festival" has come to a perfect end, apart from a brief moment of joy, LeTV should also start thinking about how to truly apply the LeTV ecosystem of "platform + content + terminal + application" built by LeTV to LeTV TV, and how to cultivate the so-called user stickiness. It can only be said that LeTV still has a long way to go.

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.