At present, Internet TV has already occupied half of the entire TV market, and LeTV has more and more competitors. It can be said that Internet TV has entered the stage of full competition. Carefully analyzing the competitor of LeTV, whether it is from the user experience, behind the financial support, content supply, LeTV's original advantages are not so prominent.
Right now, the most important issue for LeTV to create new is not competition, but it is still how it solves the current loss situation. As the most important aspect of the LeSco ecological chain, the profitability of LeTV is not only a good news for Sunac, but also means the correctness of LeTV's ecological value, which has been advocated by the founder, chairman and CEO of LeTV Holdings Group, Jia Yueting. .
"Wolf pack" surrounded by siege
It is noted that LeTV has always claimed that it has "hardcore hardware" and it mainly depends on the profitability of its members. According to LeTV’s idea, LeEco users will enjoy certain privilege as long as they pay a certain membership fee—the latest hot drama and massive HD movie sources. If TV sales go out, LeTV will want to continue to make profits in this area, not only Relying on membership fees, as well as TV's boot ads, these profit-making methods are not user-friendly.
A user surnamed Liu told him that he purchased a 40-inch LeTV. At that time, he also paid 1,000 yuan and sent LeTV members for a year. At that time, the logistics was fast and the TV appearance was OK. The response time was slow and the picture quality was just a matter of operation. Feeling can not be compared with another Sony TV at home. Until the membership expires, VIP movies and TV shows can no longer be watched. Other players can only play with low quality. They have no plans to continue to buy membership rights.
The puffer brand CEO Wang Penghui expressed his feelings that the current Internet TV is not much different. Basically, it uses "content" to add value. Buying a TV can only see one content, apart from the difference in content, it does not matter. There are too many others.
In the eyes of Wang Penghui, boot advertisements, menu advertisements, pre-play advertisements... The so-called revolution in Internet TV may have turned television into a “follower terminalâ€. "The consumer bought a TV, bought a member, but there are a bunch of advertisements and the experience is really bad."
“Hardware free is just a promotion method.†Zhang Bing, director of research and development at IHS in China, said that color TV, whether it is hardware or content, must be costly and must be paid. Currently, the color TV hardware is free, and in the future, membership service fees will be used to recover costs year by year. Now, it is necessary to pay upstream manufacturers for TV production costs. This requires a strong capital capability. “LeTV will shrink this model.â€
“The turmoil in LeTV is not the problem that TV itself brings. Internet TV is precisely the most healthy and benign piece of business developed by LeTV. This is because the way to go soft and hard is right, and only software and hardware content can do it. A strong company will succeed in this area. The problem with LeTV is in its overall ecological layout. Everyone has seen the problems it has brought.†A veteran of the TV industry pointed out that “the market of Xiaomi has questioned many In response to his recent launch of the product is not enough, such as new television is very thick, before the CES products on display simply do not have the ability to achieve mass production, which is the dilemma of its own business model."
No matter how good or bad the user's experience is, Internet TV has occupied half of the TV market. LeTV has a lot of competitors. In 2013, it competed with brands such as Xiaomi and iQiyi, and now it has added micro whale, cool open, PPTV, and popularity.
“The competition of Internet TV is ultimately a competition between users and content, and the quality of the content and the way of interacting with users are particularly important between the two.†said Jiang Lei, founding partner of CIC Ranging Consulting, in view of the current television With the mass production of machine hardware and the homogenization of technology, it is difficult for hardware to become an important differentiated competitive tool before the generation and application of breakthrough hardware technologies. Of course, low-cost hardware can better help competitive companies acquire users and seize the entrance.
Undoubtedly, the competition of Internet TV is very fierce. Ovi predicts that this year's opportunity for disruption of the color TV industry will increase. Dong Min, general manager of Ovid Cloud Network Intelligent Display and Digital Entertainment Group, said that this mainly stems from the diversification of competitive dimensions, the contest of new technologies, the contest of marketing models, the competition of channel cooperation, and the supply of resources. New products are just one of the aspects of competition, and many deep-seated efforts can seize the opportunity.
Face pressure to turn a profit
However, at the moment, the most important issue for LeTV’s innovation is not profitability. It is still how to resolve the current loss situation. According to LeTV 2016 semi-annual report, in the first half of last year, LeTV’s new assets totaled 8.264 billion yuan, but the total debt amounted to 8.5 billion yuan, and the asset-liability ratio reached 102.86%, which was in an “insolvent-insolvent†state. At the operating level, LeTV made a total of 7.461 billion yuan in revenue from January to June 2016, and net profit was a loss of 56.87 million yuan.
Prior to this, Jia Yueting had proposed to strike a hundred billion U.S. dollar clubs. For LeTV, whose current revenue is only RMB 50 billion, it is difficult to imagine. Even if Ali, Tencent’s current revenue exceeds LeTV, it seems that it has not announced a similar situation. aims.
Although Jia Yueting and Sun Hongbin have joined together, LeTV has already introduced a strategic investment of 15 billion yuan, but the funding gap is still large. According to the latest news from foreign media, LeTV announced on April 10 that it would abandon its $2 billion acquisition of Vizio, the US TV maker, on the grounds that there are regulatory obstacles. However, widespread speculation is that financial pressure is a problem. If this transaction fails, it means that LeTV is heading for the US market, trying to establish a brand image among US consumers and the internationalization strategy has been defeated.
On the evening of April 19, LeTV announced the 2016 annual report. The annual report showed that although LeTV's full-year revenue reached a record high of more than 20 billion yuan in 2016, net profit also fell for the first time in eight years.
According to the 2016 annual report of LeTV, LeTV's operating revenue in 2016 was 21.95 billion yuan, an increase of 68.64% year-on-year; the net profit attributable to shareholders of listed companies was 550 million yuan, a year-on-year decrease of 3.19%, resulting in the first decline in net profit in eight years.
If viewed from the perspective of revenue growth, LeTV’s sales of super-TV are still quite strong last year. In 2016, terminal business revenue accounted for 46.09% of the total revenue of LeTV. This was LeTV's largest source of revenue. At the same time, revenue from terminal services increased by 66.15% year-on-year in 2016.
However, the rapid expansion of television business has also become a stumbling block to the growth of LeTV. LeTV.com stated in its 2016 annual report that the total profit of the new business during the growth period has decreased. At the same time, due to the fact that early Super TVs mainly focused on high-configuration, high-performance, ultimate experience, and subverting prices to quickly obtain users, as well as the company's rapid development of management costs, sales costs and other increases, the company's operating profit decreased year-on-year.
Levision Holdings CEO Jia Yueting called 2017 a profitable year. In its letter to shareholders in the evening of April 20, it stated that 2017 is the first year of the new stage of LeTV's strategy and is also a key year for LeTV. It will increase the liquidity of listed companies, improve the company’s cash flow, and achieve overall profitability. The most important task is to work.
Although Jia Yueting admits in an open letter that LeTV made a net profit loss of more than 600 million yuan last year, which directly led to a decline in LeTV's net profit, he also said that LeTV will take the lead in realizing losses. In an open letter, he said that according to the current growth rate of LeTV’s new growth, LeTV’s large screen is expected to successfully turn losses into profitability in 2017, which is reflected in its performance and is expected to increase LeTV’s net profit by several hundred million yuan.
At the same time, Jia Yueting stated in an open letter that “Large-screen ecology has turned losses into gains, and the ecological content has been tampered with. We have reason to expect that in 2017 LeTV's terminals, members, and advertising revenue will achieve new breakthroughs and enter the ecological hierarchy. After the second stage, terminals, members, revenues, net profits, etc. will also become important indicators for measuring the LeTV standards. LeTV will thus enter into the cashing period of counter-effects.â€
"Unfortunately, this year, whether it is from the helpless adjustment of its own strategy or the increasing competitive pressure from the external market, LeTV's core strengths have been diluted intangibly." IT senior analyst Sun Yongjie believes, This also explains well that Liang Jun no longer mentions hardware cost pricing, but instead sums up the so-called “high-configuration, high-performance†and “ecological open strategy, only for continuous feedback to users and demonstrate the ability of large-screen operationsâ€. Replaced by the paragraph heading. At the same time, the facts of the market have indeed confirmed this point, and as a result, LeTV's price advantage has been fully lagging behind its rivals.
In Jiang Lei’s view, although Internet TV has become a general trend, the smart TV market is returning to rationality as a reality that all manufacturers have to pay attention to. Now all brands are shouting to take the high road and rely on quality to win, especially LeTV, holding high-end strategies.
Zhang Bing, director of research and development at IHS China, said that last year LeTV saw sales of more than 5 million televisions for the whole year, which was slightly lower than the original target of 6 million, mainly because sales in the fourth quarter were affected by the tensions of LeTV's funds. In the first three months of 2017, LeTV is still in the adjustment period. LeTV's acquisition of VIZIO in the United States was immersed in abortions. This year's domestic “4·14†promotion was not as strong as last year’s marketing efforts. In Zhang Bing's view, unlike last year's hype, the release of LeTV this year places more emphasis on high-end products and brands. Therefore, in the first half of this year, LeTV was able to stabilize its color TV sales last year.
The industry believes that the high port number is easy to call, and it is not easy to go on. Because some Internet brands, or new brands, are difficult to form in the short term, many companies that specialize in color TV for many years have more chances to win because the accumulation of supply chains and the accumulation of R&D technologies are all factors that pure Internet brands cannot match. .
In Jiang Lei's view, an important factor in reducing hardware prices is to expand the scale of users, both for outsourcing and for their own production. The purpose is to reduce the hardware prices as much as possible to reduce the cost of acquiring users. Obtaining a large number of users is only the first step of competition. Only high-quality content can sustain the competitiveness of enterprises, strengthen the stickiness of users, and generate revenue.
Zhang Bing expects that the overall sales of new Internet TV brands will remain stable or slightly increase over the past year. The growth rate of LeTV and Xiaomi will slow down, while the growth of micro whale, PPTV, and storms will increase.
Smart TV/box information can focus on smart TV information network sofa butler (http://), China's influential TV box and smart TV website, providing information, communication, TV boxes, smart TVs, smart TV software, etc. Answering questions.
Right now, the most important issue for LeTV to create new is not competition, but it is still how it solves the current loss situation. As the most important aspect of the LeSco ecological chain, the profitability of LeTV is not only a good news for Sunac, but also means the correctness of LeTV's ecological value, which has been advocated by the founder, chairman and CEO of LeTV Holdings Group, Jia Yueting. .
"Wolf pack" surrounded by siege
It is noted that LeTV has always claimed that it has "hardcore hardware" and it mainly depends on the profitability of its members. According to LeTV’s idea, LeEco users will enjoy certain privilege as long as they pay a certain membership fee—the latest hot drama and massive HD movie sources. If TV sales go out, LeTV will want to continue to make profits in this area, not only Relying on membership fees, as well as TV's boot ads, these profit-making methods are not user-friendly.
A user surnamed Liu told him that he purchased a 40-inch LeTV. At that time, he also paid 1,000 yuan and sent LeTV members for a year. At that time, the logistics was fast and the TV appearance was OK. The response time was slow and the picture quality was just a matter of operation. Feeling can not be compared with another Sony TV at home. Until the membership expires, VIP movies and TV shows can no longer be watched. Other players can only play with low quality. They have no plans to continue to buy membership rights.
The puffer brand CEO Wang Penghui expressed his feelings that the current Internet TV is not much different. Basically, it uses "content" to add value. Buying a TV can only see one content, apart from the difference in content, it does not matter. There are too many others.
In the eyes of Wang Penghui, boot advertisements, menu advertisements, pre-play advertisements... The so-called revolution in Internet TV may have turned television into a “follower terminalâ€. "The consumer bought a TV, bought a member, but there are a bunch of advertisements and the experience is really bad."
“Hardware free is just a promotion method.†Zhang Bing, director of research and development at IHS in China, said that color TV, whether it is hardware or content, must be costly and must be paid. Currently, the color TV hardware is free, and in the future, membership service fees will be used to recover costs year by year. Now, it is necessary to pay upstream manufacturers for TV production costs. This requires a strong capital capability. “LeTV will shrink this model.â€
“The turmoil in LeTV is not the problem that TV itself brings. Internet TV is precisely the most healthy and benign piece of business developed by LeTV. This is because the way to go soft and hard is right, and only software and hardware content can do it. A strong company will succeed in this area. The problem with LeTV is in its overall ecological layout. Everyone has seen the problems it has brought.†A veteran of the TV industry pointed out that “the market of Xiaomi has questioned many In response to his recent launch of the product is not enough, such as new television is very thick, before the CES products on display simply do not have the ability to achieve mass production, which is the dilemma of its own business model."
No matter how good or bad the user's experience is, Internet TV has occupied half of the TV market. LeTV has a lot of competitors. In 2013, it competed with brands such as Xiaomi and iQiyi, and now it has added micro whale, cool open, PPTV, and popularity.
“The competition of Internet TV is ultimately a competition between users and content, and the quality of the content and the way of interacting with users are particularly important between the two.†said Jiang Lei, founding partner of CIC Ranging Consulting, in view of the current television With the mass production of machine hardware and the homogenization of technology, it is difficult for hardware to become an important differentiated competitive tool before the generation and application of breakthrough hardware technologies. Of course, low-cost hardware can better help competitive companies acquire users and seize the entrance.
Undoubtedly, the competition of Internet TV is very fierce. Ovi predicts that this year's opportunity for disruption of the color TV industry will increase. Dong Min, general manager of Ovid Cloud Network Intelligent Display and Digital Entertainment Group, said that this mainly stems from the diversification of competitive dimensions, the contest of new technologies, the contest of marketing models, the competition of channel cooperation, and the supply of resources. New products are just one of the aspects of competition, and many deep-seated efforts can seize the opportunity.
Face pressure to turn a profit
However, at the moment, the most important issue for LeTV’s innovation is not profitability. It is still how to resolve the current loss situation. According to LeTV 2016 semi-annual report, in the first half of last year, LeTV’s new assets totaled 8.264 billion yuan, but the total debt amounted to 8.5 billion yuan, and the asset-liability ratio reached 102.86%, which was in an “insolvent-insolvent†state. At the operating level, LeTV made a total of 7.461 billion yuan in revenue from January to June 2016, and net profit was a loss of 56.87 million yuan.
Prior to this, Jia Yueting had proposed to strike a hundred billion U.S. dollar clubs. For LeTV, whose current revenue is only RMB 50 billion, it is difficult to imagine. Even if Ali, Tencent’s current revenue exceeds LeTV, it seems that it has not announced a similar situation. aims.
Although Jia Yueting and Sun Hongbin have joined together, LeTV has already introduced a strategic investment of 15 billion yuan, but the funding gap is still large. According to the latest news from foreign media, LeTV announced on April 10 that it would abandon its $2 billion acquisition of Vizio, the US TV maker, on the grounds that there are regulatory obstacles. However, widespread speculation is that financial pressure is a problem. If this transaction fails, it means that LeTV is heading for the US market, trying to establish a brand image among US consumers and the internationalization strategy has been defeated.
On the evening of April 19, LeTV announced the 2016 annual report. The annual report showed that although LeTV's full-year revenue reached a record high of more than 20 billion yuan in 2016, net profit also fell for the first time in eight years.
According to the 2016 annual report of LeTV, LeTV's operating revenue in 2016 was 21.95 billion yuan, an increase of 68.64% year-on-year; the net profit attributable to shareholders of listed companies was 550 million yuan, a year-on-year decrease of 3.19%, resulting in the first decline in net profit in eight years.
If viewed from the perspective of revenue growth, LeTV’s sales of super-TV are still quite strong last year. In 2016, terminal business revenue accounted for 46.09% of the total revenue of LeTV. This was LeTV's largest source of revenue. At the same time, revenue from terminal services increased by 66.15% year-on-year in 2016.
However, the rapid expansion of television business has also become a stumbling block to the growth of LeTV. LeTV.com stated in its 2016 annual report that the total profit of the new business during the growth period has decreased. At the same time, due to the fact that early Super TVs mainly focused on high-configuration, high-performance, ultimate experience, and subverting prices to quickly obtain users, as well as the company's rapid development of management costs, sales costs and other increases, the company's operating profit decreased year-on-year.
Levision Holdings CEO Jia Yueting called 2017 a profitable year. In its letter to shareholders in the evening of April 20, it stated that 2017 is the first year of the new stage of LeTV's strategy and is also a key year for LeTV. It will increase the liquidity of listed companies, improve the company’s cash flow, and achieve overall profitability. The most important task is to work.
Although Jia Yueting admits in an open letter that LeTV made a net profit loss of more than 600 million yuan last year, which directly led to a decline in LeTV's net profit, he also said that LeTV will take the lead in realizing losses. In an open letter, he said that according to the current growth rate of LeTV’s new growth, LeTV’s large screen is expected to successfully turn losses into profitability in 2017, which is reflected in its performance and is expected to increase LeTV’s net profit by several hundred million yuan.
At the same time, Jia Yueting stated in an open letter that “Large-screen ecology has turned losses into gains, and the ecological content has been tampered with. We have reason to expect that in 2017 LeTV's terminals, members, and advertising revenue will achieve new breakthroughs and enter the ecological hierarchy. After the second stage, terminals, members, revenues, net profits, etc. will also become important indicators for measuring the LeTV standards. LeTV will thus enter into the cashing period of counter-effects.â€
"Unfortunately, this year, whether it is from the helpless adjustment of its own strategy or the increasing competitive pressure from the external market, LeTV's core strengths have been diluted intangibly." IT senior analyst Sun Yongjie believes, This also explains well that Liang Jun no longer mentions hardware cost pricing, but instead sums up the so-called “high-configuration, high-performance†and “ecological open strategy, only for continuous feedback to users and demonstrate the ability of large-screen operationsâ€. Replaced by the paragraph heading. At the same time, the facts of the market have indeed confirmed this point, and as a result, LeTV's price advantage has been fully lagging behind its rivals.
In Jiang Lei’s view, although Internet TV has become a general trend, the smart TV market is returning to rationality as a reality that all manufacturers have to pay attention to. Now all brands are shouting to take the high road and rely on quality to win, especially LeTV, holding high-end strategies.
Zhang Bing, director of research and development at IHS China, said that last year LeTV saw sales of more than 5 million televisions for the whole year, which was slightly lower than the original target of 6 million, mainly because sales in the fourth quarter were affected by the tensions of LeTV's funds. In the first three months of 2017, LeTV is still in the adjustment period. LeTV's acquisition of VIZIO in the United States was immersed in abortions. This year's domestic “4·14†promotion was not as strong as last year’s marketing efforts. In Zhang Bing's view, unlike last year's hype, the release of LeTV this year places more emphasis on high-end products and brands. Therefore, in the first half of this year, LeTV was able to stabilize its color TV sales last year.
The industry believes that the high port number is easy to call, and it is not easy to go on. Because some Internet brands, or new brands, are difficult to form in the short term, many companies that specialize in color TV for many years have more chances to win because the accumulation of supply chains and the accumulation of R&D technologies are all factors that pure Internet brands cannot match. .
In Jiang Lei's view, an important factor in reducing hardware prices is to expand the scale of users, both for outsourcing and for their own production. The purpose is to reduce the hardware prices as much as possible to reduce the cost of acquiring users. Obtaining a large number of users is only the first step of competition. Only high-quality content can sustain the competitiveness of enterprises, strengthen the stickiness of users, and generate revenue.
Zhang Bing expects that the overall sales of new Internet TV brands will remain stable or slightly increase over the past year. The growth rate of LeTV and Xiaomi will slow down, while the growth of micro whale, PPTV, and storms will increase.
Smart TV/box information can focus on smart TV information network sofa butler (http://), China's influential TV box and smart TV website, providing information, communication, TV boxes, smart TVs, smart TV software, etc. Answering questions.
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