" Na Ying , the year of the fight" and "CCTV calls on Yuan Weiya to support the singer". Since the broadcast last Friday, topics about "Singer 2024" have emerged one after another. Netizens have also actively come to "rock people" for "Singer 2024" With the support, the program always dominated the screen in hot searches, and the listed company behind it, Mango Super Media, gained both fame and fortune. On May 13, Mango Super Media’s share price also rose sharply by 11.69%.
However, in the past quarter, Mango Super Media’s net profit declined. Entering the second quarter, Mango Super Media has accelerated the arrangement of variety shows. In addition to the popular "Singer 2024", many variety shows such as "Sister Lang", "Flowers and Boys" and "Brilliant Garden" are all online.
Zhang Yi, chief analyst of iiMedia Consulting, analyzed to a reporter from China Times, "Many top variety shows are very attractive to audiences, which will enhance the stickiness and renewal willingness of members and advertisers."
"Singer 2024" Quickly breaking out of the circle
html On May 12, singer Han Hong posted a post about "signing up" for Hunan Satellite TV's singer program, and related topics became hot searches. On the same day, Hunan Satellite TV singers officially responded: Follow-up invitations will be made based on each singer's schedule.In recent days, many singers have applied to compete or been called to participate in "Singer 2024", constantly adding popularity to the show. Since "Singer 2024" was broadcast on May 10, it has achieved Hunan Satellite TV's highest ratings of 0.5781% and a market share of more than 3%. On the second day of its launch, the cumulative views exceeded 100 million, and the market share of full-length feature films on the entire network reached A record high of 28.24%. On the other hand, in the same period, "Godsend Voice Season 5" of the same genre has a historical high of 2.88%, and "New Rap 2024" has a historical high of 10.85%.
" Singer " is Mango Super Media's ace variety n-generation music competition program, which was launched as early as 2013. "Singer 2024" adopts the format of full live broadcast, full open mic, and one take for the first time. This innovation has been hailed by music critics as a pioneering move for domestic music variety shows. In addition, the program also invites musicians of different styles, including pop, rock, European and American music, etc., to meet the preferences of audiences in different circles.
As the results of the first episode of the show came out, the audience began to "vow" for talented singers to participate, making the show continue to gain popularity. Public data shows that as of May 11, "Singer 2024" has received a total of 974 hot searches on the entire Internet, 821 hot searches on Weibo, a total of 49 top 10 on Weibo's main list, and 28 related topic words on the top 1 of Weibo's main list. , the topic of the program’s Weibo blogger has been read 510 million times.
Driven by the variety show, Mango Super Media’s stock price also increased significantly. On May 13, the company’s stock price closed up 11.69%.
Zhang Yi analyzed to a reporter from China Times that "Singer 2024" has aroused great popularity in both the topic and the secondary market. It has been superimposed on multiple variety shows with high reputation and rich content, which has increased the richness of content arrangement. Therefore, Mango TV will become more attractive to viewers and will have a positive impact on membership growth. The feedback from the secondary market is also good.
Performance in the second quarter is improving.
In the first quarter of this year, Mango Super Media achieved revenue of 3.324 billion yuan, a year-on-year increase of 7.21%, and net profit attributable to the parent company of 472 million yuan, a year-on-year decrease of 13.85%. Among them, affected by changes in preferential corporate income tax policies, the company recognized an increase in income tax expenses of 87.9922 million yuan in the first quarter compared with the same period last year, resulting in a year-on-year decline in after-tax profits.
In 2023, Mango Super Media achieved revenue of 14.628 billion yuan, a year-on-year increase of 4.66%, and net profit attributable to the parent company was 3.556 billion yuan, a year-on-year increase of 90.73%. It is worth noting that in 2023, Mango Super Media’s advertising business achieved revenue of 3.532 billion yuan. Although it dropped 11.57% year-on-year, advertising revenue in the fourth quarter increased by 15.95% year-on-year, reversing the trend from negative to positive year-on-year growth.
"China Times" reporters obtained information from Mango Super Media, which shows that top IPs such as "Riding the Wind 2023" and "Being the Wind Season 3" have stabilized the variety show advertising investment market, and "Go Where the Wind Is" and "Camp with Love" have refreshed The company's drama series has set records in terms of investment amount and number of project cooperation customers in the past three years.
On April 26 this year, at the investment promotion meeting of Mango’s four platforms (Hunan Satellite TV, Mango TV, Golden Eagle Cartoon, Xiaomang E-commerce), more than 100 dramas, variety shows, evening parties and other different forms of content were released.According to information provided by
Mango, in the variety show section, Mango has played a "big name" game, and the ace variety n generation has fully innovated. "Singer 2024" and "Endless Sound·Hong Kong Philharmonic Season 2" focus on "people" and "song" respectively. , one step further on the original baseline of top-level music comprehensive products. In addition, variety shows such as "Time Concert", "Dancing Crazy" and "First Job" were also mentioned at the investment meeting. After
became popular in "Singer 2024", Mango Super Media's future investment will be more stable. Zhang Yi said that the broadcast of multiple variety shows will also drive the increase in membership and membership business income. At the same time, in the past few years, the advertising business of major video companies has been sluggish to a certain extent, and is now gradually recovering. The peak season for Mango Super Media content, especially the broadcast of popular variety shows, is conducive to subsequent investment.
Some brokers also said that if "Singer 2024" continues to be popular and exceeds expectations, it is expected to bring additional advertising revenue. Zhang Shule, an entertainment industry analyst at
, analyzed to a reporter from China Times, "The biggest difference between Mango Super Media and Youaiteng is that they are rooted in Hunan Satellite TV, and their ability to control pan-entertainment, especially variety shows, and their hit rate All are quite guaranteed. This is the same as Uaiteng’s focus on learning from Netflix to develop its own popular online dramas. They both use exclusive products and differentiated play to attract users to pay and expand more business cooperation scenarios; At the same time, whether it is a continuation of an existing IP by a singer, sister, or others, it can create a fan base for its popular products and form user stickiness. Overall, it is effective for membership growth and investment cooperation. "
Mode
In addition to Mango Super Media achieving good results in 2023, another long video company iQiyi has also achieved large-scale operating profits for two consecutive years.
iQiyi’s revenue in 2023 will be 31.9 billion yuan, a year-on-year increase of 10%; the full-year operating profit based on non-GAAP financial indicators (non-GAAP) will be 3.6 billion yuan, a year-on-year increase of 68%. iQiyi’s attributable net profit was 1.9 billion yuan, while iQiyi’s attributable net loss in 2022 was 136.2 million yuan.
However, unlike Mango Super Media, which mainly relies on advertising revenue, Aiyouteng, represented by iQiyi, mainly relies on membership income. In 2023, iQiyi's membership service revenue will be 20.3 billion yuan, a year-on-year increase of 15%; online advertising service revenue will be 6.2 billion yuan, a 17% increase from 2022.
Regarding the potential development of the two business models, Zhang Shule analyzed that the model does not matter whether it is good or bad, but it depends on the level of vertical cultivation. Although the originator of the Internet comprehensive network is Youaiteng, its overall control ability is slightly immature; while Mango relies on Hunan Radio and Television, in In terms of variety shows, the control of the field and the connections within the circle are more advantageous. Therefore, once you enter the network variety show and attack in a synchronized way with the network and the network, the effect will naturally be outstanding. But on the other hand, Youaiteng's ability to control the needs of netizens in online dramas has become more cutting-edge after experiencing the changes of online TV series, online universities and online dramas, and it also has more room for breakthroughs in the field of horizontal screen short dramas.
Zhang Shule believes that for Youai Tengmang’s performance, the model is just a strategic direction choice. Whether it can produce popular products and continue to produce popular products is a tactical must-answer to stimulate periodic growth in performance.
"Although Aiyouteng is pursuing performance, Mango Super Media has been able to ensure the stability and sustainability of its business through its unique content and business model, especially the stability of variety shows," Zhang Yi further said, Overall, Mango Super Media has achieved rapid growth in membership business and stable recovery in advertising business through diversified content investment. In the context of the current traffic era, this model has demonstrated strong competitiveness and adaptability. , however, as the ceiling for long-form video member growth becomes lower and lower, advertisers’ budgets shrink, and social media competition intensifies, Mango Super Media needs to explore multiple monetization paths and continue to innovate if it wants to maintain a stable growth trend.
In addition to membership and advertising, major video platforms are also trying to break through.iQiyi founder and CEO Gong Yu said in late April, "In addition to traditional advertising and membership business models, we will also expand derivative businesses; the revenue and profit composition of major Hollywood companies is very clear. We have been saying this for many years - —The proportion of revenue from derivative business is too low; if we want to follow the path of Hollywood, we will never be able to keep up. However, technological innovation led by generative AI has given us the opportunity to overtake in corners, and there is a lot of room for development of derivative business."
Responsibility. Editor: Huang Xingli Editor: Hanfeng
