Wen | New Entropy, Author | Lemon, Editing | Yue
This is a great value worth 10 billion.
Time dials to the end of the 20th century, the concept of Designer Toy (designer toy) is a Domestic Market, and the Gardener series made by the designer Michael Lau is caused by the Hong Kong market. The word \”play\” is officially appeared in a huge response.
Twenty years later, with the Z generation to become the main force of consumption, playing business at least in terms of \”people and\”. According to Ai Rui consulting data, in 2020, China’s secondary yuan users broke through 400 million people, and the trend broke the secondary wall, and the virtual IP existing in the second yuan is in the three yuan reality. This kind of \”Broken Element Wall\” is tolder by young people, paying for love, not bad money.
There are more money to make money, and you can see one or more, more than 60% of the profit margin, from the prosturization rate of bubble Mart. This is an earning business in the starting stage. It looks like a seductive blue sea. Since 2021, many big plants are playing frequently in the play industry.
Tencent, NetEase, Baidu, many other plants have launched an independence play app, and investment in the game industry chain has also occurred frequently, but the meaning behind it, maybe the final goal of the big factories is not Fashion business.
01 The game is playing, the big factory entry
According to the statistics of the Medical consultation data, 2020 domestic domestic play market is close to 30 billion yuan, even if it is affected by the epidemic, slow growth, The growth rate is still as high as 44%. It is expected that by 2021, the market size will reach 38.43 billion yuan.
Although the two-time group is still a niece, the game has entered the public, the most direct embodiment is that the big factories began to join this game.
The most first entry is probably \”old secondary yuan\”, B station. In 2020, within 28 days, the B stangons raised more than 13.9 million, sold 250,000 dish model toys, before this, such a score only has a large IP with a certain fans of a fans in the national treasure. Prior to this, the B station has always been a gathering of the small circle. The main types of games are like a blind box, hand, BJD, etc., can find the fans of the enthusiasts in the B station, \”broken\”, the B station is still One of the preferred gatherings of a large quantity of the two-time yuan users, there is a solid foundation in the game business.
In June 2021, the first season of the first season of the domestic first day, the final chapter of the first quarter, in the B station, in its derivatives, a total of 16.65 million crowded amount Create a record of national surrounding crowds. The B station’s e-commerce business member purchase is also sold to play products, providing a sales platform for a large number of play products.
November 3, the trend consumer goods company SUPLAY completed millions of dollars a + round financing, and led by Miha. Create a tide of playing products around the own \”original god\” game IP, and explore its IP value. Prior to this prior to this, Miha has accumulated more than ten tides of the industry chain upstream and downstream enterprises, including in February 2021 and Tencent and other well-known enterprises invested in the new retail platform of the new retail platform for the new retail platform.
Tencent does not have to show weakness, November 28th, Tencent led to create a dream world of 160 million yuan, and this fund will be used to play the business of the development line. This is not the first cooperation between the two sides. As early as in August 2020, I won the announcement, and the vice president of Tencent and the president of the Tianmei Studio of Tianmei, and Yao Xiaoguang and others appointed non-executive directors and members of the company’s Strategic Committee. Since then, the cooperation between the two sides is continuously deepening, holding Tencent’s investment and household name QQIP, and the \”replacement\” Tencent in the field will open the soil in the tide play field. The game IP, such as the king’s glory, and has also launched the game with the bubble Mart, strong entry.
With the sales platform of the B station and the investment in Tencent, Miha Tour, Ali’s attitude of playing business is \”personally end\”. The Koi of Ali Wenji is launched in May 2021, and there is currently a line of flagship stores. Back to Ali, the start of the koi is natural than others, \”the village love\” \”Yulouchun\” \”this! It is the street dance 4 \”and so on, and it can be found in a variety of explosive products, but there is no more influence in the market.
And Netease hand holding a number of game IPs, early in the game community, surrounded by the game, recently, NetEase also launched a game of play blind box App Netease players, Sales Harry Potter , Many famous IPs such as Yinyang Normal University.
According to this, the first time in 2020, Baidu online first play APP antiques the theme of play APP, and the famous excellent product launched the TOP TOY play collection store brand, according to its financial report data, Half year has more than 100 million yuan. In 2021, Xiaomi invested in a \”playing factory\” in April, and the APP bonus played in October. On November 17th, Xiaohong Book opened the line to play, recruited more than 120 IPs, and sold more than 270 tide products.
Changing the game market ushered in a wave of climax, but the game is really like \”fragrance\” as it looks like?
02 Tide play for the big factory, is a good business?
The game is very fragrant, but this business is not good.
CITIC Securities Release Release Report said that the bubble Mart line is located in the first line, the new line, the second line, and other cities have 91,64,60, from the store to the store, the first-tier city is bubble Mat’s \”main battlefield\”, and the market in the second line and other cities is not completely excavated, and it still has a large imagination space.
However, relatively smoldering \”sinking market\”, it is actually not imagined. Before the game market, the small, high price, less quantity is the general label of the game products, and many products are even manually produced by designers. These features are \”commercialization\”, \”scale\”. After development, it did not completely disappear.
After the production of scale, the product cost is lowered, the price within 100 yuan has greatly reduced the \”threshold\” of the game, but the combination of limited and blind boxes, inevitably generate a certain premium The case of high-priced unit prices still exist. Take the bubble mart as an example, according to the financial report data, its profit margin exceeds 60%, which is difficult to define in order to make consumers pay for the \”premium\”.
In the play market, the blind box is a low-end product. The price can be kept within 100 yuan, and the price of the guest purchase and BJD, the price is thousands, as a required Entertainment products, the consumer groups of these high-end products are undoubtedly limited.
Therefore, for the entire fashion market, although the sinking market is to be discovered, the high-priced unit price and the natural contradiction between the sinking market, the game is \”wide\” or \”fine\”, it seems It is a single selection. A higher profit margin, but if you can’t open the scale, it will not be a good business.
In addition to the size of the scale, policy risks have to pay attention. On November 26, the Shanghai Consumer Rights Protection Committee issued a union blind box consumption survey report, which proposes to establish certain measures to standardize the bits purchasing behavior of minors. Behind the border economy is the \”obsessive-compulsive\”, luck and funding one of the collection enthusiasts, and the blind box \”upper\” may be reconciled to play the market with the tide, accept policy supervision, and join a large number of new players. Let the new style of \”small\” tags disappear, how long can consumers’ enthusiasm?
The 100 billion \”giant\” bubble mart of the leader ran, today’s stock price, the growth rate of revenue has a decline, and the problem after the scale expanded, and the design plagiarism, the product is rough, and the product is endless. On the black cat complaint platform, the bubble mart has received nearly 6,000 complaints, including the complaints of a large number of returned goods, and most of the replacement reasons are related to product quality, these issues may also be in the future of players. Replay.
At the same time, according to its public financial data, \”The IP\” Molly series of \”When the IP\” Molly series is gradually declined, 2017-2019, the proportion of Molly-based product sales accounted for year by year. 89.4%, 62.9%, 32.9%, respectively. After 2018, the bubble mart actively carried out joint cooperation, cooperated with Mickey, Ice and Snow, One Piece, Harry Potter, Iron Man, etc., to launch the corresponding products and maintain brand vitality.
Continuous IP input is the driving force of playing business continues to develop, and playingIt is possible to realize the commercial value of IP, and IP is bumped, extend its life cycle. In other words, the game is inseparable from IP. After running in the big factories, it may be the temptation of the IP.
03 How old is the temptation of IP?
Fashion business and IP complement each other, relative to channels and brand effects, consumers have more viscous to IP, and IP copyright also become a more important competitive point in the game business.
On the copyright issue of IP, Ali is a bit weak. Tencent has been involved in novels, games, video and other fields; byte hands with tomato novels, massive novel IP is waiting for excavation; NetEase relies on the game to support the big half of the rivers, Yinyang Normall IP has been done. And Ali Wen Entertainment has only built trees in film and television, mainly by inflining IP.
In the enlarged IP layout, Ali can be a long time. In 2016, Ali fish officially unveiled, mainly for IP, and the brand provided all link services such as online authorization, marketing, sales, etc. Perhaps you have more voice in the IP market.
And Ali’s goal to make fun of Koi may also be more far more far more, for the big factories, the purpose of entering the game may not only make money, but through Continuously updated the game products to strengthen the life cycle of the original IP, in the commercial games of all major plants, I am afraid I hope that the game is auxiliary.
March 2021, Koi launched the first multi-game product \”Country Love Story\” series, for the upcoming \”Country Love Story 14\”, and the \”Shanhe Order\” at the end of April \”Series, step on the emptiness of the audience emotions in the plot. The game is not only one of IP’s commercial channels, but also a certain role.
This kind of product has a certain heat of two-creative products, the success rate is higher, but the limit is more, restore and innovation are a single-selection, and the product is also high. It can also cause resonance of the original IP fan, but IP innovation can create more stories, so that IP is out of the original restriction, the life cycle is longer.
Although the creation space of the new IP is larger, but does not have a complete background, there is no basic fan, and it is more uncertain in this type of IP, but imagine space may be larger.
Disney’s pink small fox Ling Naiba is all over the country, its heat is high, so that there is no video work or even there is no text story with unimaginable business value. All the surrounding racks are all broken, a 219 yuan genuine doll, is also difficult to buy in the hand of the yellow cattle in the hand of 10 times. According to public data, as of August 202, the top ten in the top ten in the global IP revenue comes from Disney, the accumulated economic value reached 311 billion.
There is no story to sell a business kingThe country’s still has bubble mart, and the designer toy without \”background\” does not affect the consumer hollow wallet.
In 2021, the digital hand is quietly fired, and the ordinary hand is different, and the consumers who can buy digital hand can get not entity products, 3D panorama plus a string of \”unique\” numbers isall content.The ant groups’ ant chains have a plurality of IPs such as \”Awakening New Year\” \”Tang Yan Night Banquet\” and other derivatives, all of which are limited to thousands of servings, and once the sale is rapidly sold.
There have been many consumers say that the original meaning of hand is to bring the virtual IP into reality. When the real hand is re-returned to the virtual world, when the consumer enters the Yuancos, the digital handWhat will I do?From this logic, maybe the big factories are keen on the back of the game, hiding the ambition of IP business and Yuancos.