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Supervisory shot! The live streaming industry needs “mouse tail juice”
Last night, the State Administration of Radio and Television issued a notice on its official website on strengthening the management of live broadcasts of online programs and live broadcasts of e-commerce, requiring that the platform for live broadcast of programs in line implement real-name management of network presenters and “reward” users. Starting last week, the China Consumers Association named Li Jiaqi, Li Xueqin and other internet celebrities in the live broadcast room that involved slip orders. The Muddy Waters report indicated that a number of incidents such as data fraud had occurred in the happy era, and that the live streaming industry was “falling into the fall.”
Is the hot industry cooling down in the capital market?
Muddy water cuts YY continues to ferment
Muddy Waters, a well-known US organization, issued a report claiming that Huanju Era’s revenue, earnings, and paid users were faked. Even after JPMorgan Chase raised the price target for Huanjue, Muddy insisted that “the era of joy is zero.”
Less than a week after Muddy Waters published a short sale report on China Concept Stocks Huanju Times (YY.US), the well-known US investment bank JP Morgan Chase publicly “against Muddy Waters”, forecasting that the price of its Shares could rise 64% in the next 12 months.
On November 23, JPMorgan Chase’s Asia Pacific Equities Research Team released a research report stating that it maintains the Huanju Era “overweight” stock rating and raised its target price for the next 12 months from US. $ 130 to $ 140, compared to last Friday. The hourly closing price was 64% higher. The Huanju Times share price rose an hour after the market opened on Monday. It rose as much as 4.5% before noon, but was still nearly 15% lower than the closing price before the short sale report was released last Tuesday.
However, Muddy Waters is still not optimistic about the era of happy reunions. Carson Block, the founder of Muddy Waters, has repeatedly compared the era of happy meetings to the online education platform on social media with Whoxue. Last Friday, he claimed it was fraudulent. , “To learn is an elementary school student, and the teacher is the time of happy meetings.”
On the night of November 23, the State Administration of Radio and Television issued a notice on its official website on strengthening the management of live broadcasts of online programs and live broadcasts of electronic commerce, requiring that the platform of Live broadcast of online shows will implement real name management of network presenters and “rewarding” users. Users who have not signed up for the real name system cannot award rewards and underage users cannot award rewards. Real name verification, facial recognition, manual review and other measures should be taken to ensure that the real name system requirements are met and the reward function of underage users is blocked. The platform will limit the maximum amount of the user’s reward each time, daily and monthly.
On Tuesday, the A-share internet celebrity livestream sector closed down 0.55% and more than half of the 123 stocks closed.Insai Group、Super Medium handle、Zhonglu StockIt fell more than 4%.
The traffic dividend is fading
The subject of data fraud has been discussed repeatedly since the popularity of audition programs on the continent. Previously, the official media had mentioned and criticized the fraud of microblogging data of some traffic stars, but this time the wick was “Double 11” not so long ago.
Recently, the China Consumers Association released the “Double 11” Consumer Rights Protection Public Opinion Analysis Report, highlighting the live streaming of celebrities such as Wang Han, Li Jiaqi and Li Xueqin, which involved issues such as the billing in the live broadcast room, the “water injection” of data and imperfect after-sales system. It provoked a heated discussion. Wang Han’s live streaming company, Yinhe Zhongxing, Li Jiaqi, and Li Xueqin responded on social media.
Is live streaming a fund-driven consumer gimmick or a worthwhile consumer scene? Why is there frequent chaos in this industry?
At present, for e-commerce platforms such as Taobao and JD.com, live streaming has become the main game. This year’s “Double 11”, Taobao’s average daily traffic to view live broadcasts increased from 9% last year to 16%, while the share of JD 2.5% last year rose to 5.3 %.
Statistics show that the number of national MCN agencies now exceeds 20,000, and the rapidly developing live streaming industry also has hidden rivers of fraudulent orders. Under the false prosperity, what is hidden is the fact that the traffic dividend is fading.
According to “Live E-commerce Anchor GMV July Top 50”, Wei Ya and Li Jiaqi continued their tradition of taking the championship and runner-up. Its total GMV exceeded 3.6 billion yuan, which is equivalent to the total GMV of the last 28 anchors. This means that the main organization has high quality resources and the life of most small and medium MCN organizations is not easy.
Ruhan Holdings, which is listed on Nasdaq, reported that the top three KOLs, including Zhang Dayi, contributed 60.7%, 65.2% and 54% of GMV to Ruhan from fiscal year 2017 to fiscal year 2019. As mentioned above, Li Jiaqi, her MCN agency Mei ONE, is actually around her, and Wei Ya is the owner of MCN’s agency’s modest culture.
However, not all MCN institutions can produce their own “Li Jiaqi”. IiMedia predicts that the number of MCN institutions in China will reach 28,000 in 2020. Competition in the industry becomes more fierce and national regulatory policies will gradually tighten and the industry will become more standardized, professional and refined.
In June this year, the China Advertising Association published the first “Code of Conduct for Online Live Marketing”, which comprehensively defines and regulates various roles and behaviors in live e-commerce and addresses current issues. live e-commerce. Detailed operating instructions.
On November 6, the State Administration for Market Regulation issued the “Guiding Opinions on Strengthening the Supervision of Marketing Activities by Live Webcast”, which clarified the responsibilities and obligations of the three main entities in marketing activities by Webcast.
On November 13, the China Cyberspace Administration issued the “Regulation on the Management of Internet Live Marketing Information Content Services (Draft for Comments)”, which regulates the delivery of goods through live broadcasts. in terms of legal file, marketing catalogs and protection of minors. It is forbidden to use orders to speculate letters, fictitious transactions, etc.
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