Tencent Pictures “group” twice, Internet film three times

2022-07-31 0 By

Article | business data, the author | man bun kwan tencent adjusted the content business sector once again.On February 10, Jiemian news reported that the main part of Tencent Pictures will be adjusted from platform and content business Group (PCG) to enterprise development business Group (CDG).After the adjustment, Tencent Pictures stripped off some commercial projects and focused on the development of times melody works, “not to make money as the first goal”.Before this, Tencent pictures has actually experienced an adjustment.In 2018, Tencent Pictures was moved from its Interactive Entertainment business Group (IEG) to its platform and content business group (PCG) in what was then known as the “930 Restructuring”, the third largest organizational restructuring in Tencent’s history.However, although Tencent Pictures adjusted its ownership at that time, its core business did not change much, and it still belonged to Tencent’s “new cultural innovation” strategy.However, different from the previous adjustment, some projects previously in charge of Tencent Pictures, such as The second season of “Celebration of Life” and “Future Husband 2” and related teams will be merged into China Literature Group.Tencent animation under one (film and drama) and other IP film and television projects and related staff will be merged into Tencent animation.From projects to employees, Tencent Pictures has clearly planned to make a complete separation with PCG.So, from IEG born, to PCG wandering, CDG will be the final destination of Tencent Film?To CDG, focus on the melody of The Times, Tencent pictures will begin what kind of story?Tencent Pictures was founded in 2015, but the reason for its establishment dates back to 2009.In 2009, Tencent’s game revenue scale has become China’s first industry.However, at this time, the marketing of the entire game industry is still in a very primitive state, such as beauty ads, gift packages and bonus points. Between major game companies, the marketing content is not only homogenized, but also simple and crude, lacking in creativity.Starting from the game, Tencent had accumulated a large number of high-quality IP, but suffered from no good way of commercialization.In this context, vice President of tencent grieco was proposed in 2011 by “IP to build” as the core of “extensive entertainment” idea, expect to make a good work is no longer limited to the initial form of a single, but able to derive a novel, a variety of forms such as games, animation, film and television, and ultimately prolong the lifecycle of the work and industry value.Under the guidance of this strategy, Tencent soon formed a pan-entertainment matrix with Tencent literature, Tencent games and Tencent animation as the core, but in this matrix, the only thing missing is the layout of film and television.By 2015, the investment and financing enthusiasm of the film and television industry was unprecedentedly high, with 139 investment and financing events, with a year-on-year growth of 01.4%.So in that year, Tencent Pictures was founded and was part of the Interactive Entertainment Business Group (IEG) as part of the “pan-entertainment” strategy.In the same year, Tencent Literature acquired Shanda Literature and China Literature Group was established.In addition to the existing Tencent games and Tencent Animation, a cross-field, multi-platform business expansion model of pan-entertainment business matrix with IP authorization as the axis and game operation and network platform as the basis has been formed.Tencent Pictures, at the beginning of its establishment, has covered the creation, publicity, IP copyright, IP authorization and other fields.It can be said that the establishment of Tencent Pictures is aimed at doing the core and center of the whole “pan-cultural entertainment” strategy, but Tencent Pictures did not stabilize in this “center” position.Just two years later, with the popularity of national fashion and cultural and creative products, and the impact of the rise of short video platform on the flow of Tencent’s pan-entertainment field, Cheng Wu proposed at UP2018 Tencent New Cultural and creative Ecological Conference that we should pay more attention to the construction of IP’s cultural value systematically, and upgrade the way and method of shaping IP.And announced Tencent six years of “pan-entertainment” strategy officially upgraded to “new cultural innovation”.With this upgrade, Tencent Pictures began its first turning point, from the core hub of “pan-cultural entertainment” to the marginal figure of “new cultural innovation”.From pan-cultural entertainment to new cultural creation, it is not only the expansion of product types, but also the cultural upgrading in essence.Prior to that, Tencent’s IP development has focused on extending industrial lines, such as turning a good novel into an anime, a game, and then bringing it to TV and the big screen.However, after the new cultural creation, Tencent began to develop the IP value of traditional culture, and inject traditional cultural elements into games, movies and other contents.Therefore, Tencent needs more cooperation with external enterprises for IP and copyright under the strategy of new cultural innovation.For example, we cooperated with Dunhuang Academy to develop the whole industry chain with Dunhuang as the core IP.Cooperate with Gu Long works Management and Development Committee to adapt Gu Long wuxia novels into comics and so on.In this process, with the diversification of IP and copyright sources, Tencent Pictures’ voice in IP began to decline.In addition, the new cultural and creative content is more presented in the form of animation, games, online articles and so on, which makes it difficult for Tencent Pictures to play its advantages in film and television production.From this time on, the importance of Tencent Pictures in the “new cultural innovation” strategy began to decline gradually.At the same time, China Literature Group, which should have started to cooperate with Tencent Pictures, established its own film and television content production industry chain at this time, and began to replace Tencent Pictures step by step in the “new cultural innovation” role.For example, In 2017, China Literature Group established China Literature Film & TV, which, relying on China Literature Group’s rich copyright and IP resources, assumed the role of Tencent Pictures in IP management and operation.In 2018, China Literature group spent 15.5 billion yuan to acquire 100% equity of Xinli Media, which has a new partner to replace Tencent Pictures in content production.From this time onwards, the position of Tencent pictures is somewhat awkward.After all, now that China Literature owns the largest IP resources and has its own content production company, Tencent Pictures, as an “outside” partner, cannot easily use them.From PCG, to the troika in the “new culture and innovation” strategy of the importance of the decline, Tencent Pictures was transferred from the IEG business group foreshadowing, but finally really contributed to this result, or a change from the video industry.Tencent Video was founded in 2011. Like almost all video websites (platforms) in the early stage, Tencent Video initially positioned itself as a video streaming media platform, that is, purchasing content and broadcasting it through online platforms.But after 2015, copyright prices soared due to the ongoing competition between the three companies.Therefore, since 2017, Tencent Video has gradually shifted from content purchase to content self-restraint.This change also directly led to the relationship between Tencent Video and Tencent Film.Therefore, in the organizational adjustment completed in 2018, Tencent Pictures and Tencent TV were naturally transferred from IEG business group to the newly established PCG business group, and from then on, they are on two ends of business with China Literature Group.The changes of the two camps also represent a complete change of Tencent Film’s focus, from the former core of the “pan-cultural entertainment” strategy to a simple platform for film and television content development and production, and gradually fade out in the “new cultural innovation” strategy.In fact, at this time, Tencent Pictures, after stripping the responsibility of the “new cultural and creative” strategy, could already be assigned to the CDG business group to focus on the production of thematic content.At that time, the important reason for not doing so is that in the strategy of “new cultural innovation”, the replacement of Tencent Pictures Literature Film and TV and New Li Media, did not really provoke the main pillars.In June 2020, the first half annual report after Cheng took over from Wu Wenhui, China Literature Group suffered an operating loss of 3.556 billion yuan, down nearly 600 percent year-on-year.The core reason for all of these lies in the impairment of goodwill and trademark right acquired by Xinli Media, as well as the expected reduction of profit compensation cost under the profit compensation mechanism.To put it bluntly, new Beauty media has performed so poorly that it has dragged down the entire group.Accordingly, after Cheng Wu takes over read text group, besides extinguish as firefighter “net text contract storm” besides, the most important is to help new beautiful medium and read text film and TELEVISION to reintegrate into group.At this time, As the former “new cultural innovation” strategy in charge of film and television content plate Tencent Pictures, naturally assumed the role of lubricant.This is also the second turning point of Tencent Pictures, that is, after leaving “New Cultural innovation”, it continues to make contributions to “new cultural innovation”.Therefore, in October 2020, Cheng Wu, who just took over China Literature Group, worked tirelessly to save a new bureau, bringing Together Tencent Pictures, New Beauty Media and China Literature Film and Television to jointly hold the “2020 Annual press conference of Union Light · Xiangrong”.At the meeting, the three companies joined together “1921”, “The World”, “Celebrate more than two years” second season, “Under one” and other 56 film and television projects.At the same time, the “Young Director Training Plan” initiated by Tencent Pictures and fully supported by Xinli Media and China Literature Film and Television was officially announced, and the first four young directors’ works began to enter the creation stage.This conference is the first time that Tencent Pictures, Xinli Media and China Literature Film and Television show a joint production system.Pull Tencent film content production of the “troika” also formally formed a group debut.Cheng Wu such arrangement, the effect is also very remarkable actually.Since the collaboration, the “Troika” successively launched “Celebrate More Years”, “Redundant husband”, “the world” and other popular works.Among them, during the Spring Festival this year, the real-time ratings of “The World” broadcast on CCTV1 on the first night broke 1, and hit the highest ratings of CCTV1 drama in the past three years.All these cases show that under the coordination of Tencent Pictures, the running-in of Reading literature film and television and New Beauty media is very successful.Its last task in Tencent’s “pan-cultural entertainment” strategy, helping China Literature Film and New Beauty media into the group’s task was finally completed.Thus, as mentioned at the beginning, Tencent Pictures took out all the businesses and employees originally undertaken in the “troika” as far as possible and handed them over to China Literature Group and Tencent Animation and other brother units.Because this means, so far, Tencent film has completed its phased task.From the three stages and two transitions mentioned above, it is not difficult to find that In the whole development history of Tencent Pictures, it is just like a brick of Tencent entertainment, moving to where there is a need.So from this point of view, it is not surprising that Tencent Pictures is included in the CDG business group.In recent years, Tencent has focused on social responsibility and it’s no secret that it wants to achieve corporate social value.In 2019, Pony Ma, chairman and CEO of Tencent, said publicly, “We hope that ‘technology for good’ will become part of Tencent’s vision and mission in the future.”In 2021, Tencent announced in April and June that it would invest 50 billion yuan to launch “sustainable social Value Innovation” project and “Common prosperity Special Plan” respectively.For a company of Tencent’s size, in addition to the continued growth of business, it is more important to gain social and public recognition.As the public relations behavior facing the majority of users, film and television content is almost the best public relations channel.And more importantly, Tencent Pictures is really good at it.As early as 2018, “Melody of The Times” has become one of the first five cultural product series launched by Tencent Pictures.Over the years, Tencent Pictures has continued to participate in the production of many thematic content, such as eight Hundred, My Country and I, Nobody, etc., all of which have generated enthusiastic response in the society.These advantages, as Tencent pictures, read text group, Tencent animation at the same time, but also in charge of group brand public relations cheng Wu, apparently impossible not to know.Moreover, it needs to be specially discussed that although Tencent insiders pointed out that Tencent Pictures “does not aim to make profits” in the future, this does not mean that focusing on the main theme content does not make money.In fact, since 2018, theme content has increasingly become the most important part of film and television content.Almost every year in the top ten box office charts, theme films can squeeze into the top five, and occupy a considerable share.For example, there are two “Chojin Lake”, “Heroes of Fire”, “The Captain”, “Operation Red Sea”, “My Country and I”, “My Hometown and I”, “Wolf Warrior 2” and so on.Films are becoming more and more popular among the market and audience, and have more and more box office appeal.This at least means that the theme content is in line with the needs of The Times and the market, with sufficient space to explore.The only thing that may exist is the question of how the theme content fits into commercialization.In addition, the film and television entertainment industry has already entered a period of adjustment due to the epidemic, the retreat of capital boom, stricter regulation and frequent car crashes of entertainment stars.Before this, the film and television industry has actually experienced a period of hot money influx.However, the end of this period did not bring prosperity to the film and television industry, but left behind a lot of problems such as the rising cost of actors, the emergence of a large number of poorly produced content, the serious shortage of creators, and the rapid decline of profits driven by capital.Among them, the film and television industry the most obvious change, is the film and television company valuation significantly reduced.For example, the market value of Beijing Culture And Huayi Brothers has fallen by nearly 90% from their peak, and even companies like Enlight Media are now nearly halved from their peak.Wang Changtian, president of Light media, once said: “Now there is a very serious’ triangle debt ‘phenomenon in the industry, the cinema owes the money of the issuing company, the issuing company owes the money of the production company, and the production company owes money to each other, and owes the money of the main creative staff.”And the cracks created by these problems will take time to heal.On top of that, as the entertainment industry continues to be regulated, mainstream commercial content faces more potential risks.For example, on February 10, the State Administration of Radio, Film and Television (SARFT) issued a notice on the website of the “14th Five-year Plan for the Development of Chinese TV Dramas”, requiring the regulation of income distribution, including actors’ remuneration, to prevent the disorderly expansion of capital and encourage the positive interaction between capital and industry.Therefore, at this time, shifting direction to main theme content production is not a choice to shrink the sphere of influence, but a positive way of the opportunity of The Times.In addition, even in the entire film and television industry, Tencent pictures fighting is not weak.Tencent pictures ranked 16th among the TOP50 Chinese film and television companies in 2021, based on statistics of works and box office performance in 2020, according to data released by the China academy of industrial research.And from the point of tencent pictures form, even after the hand over IP part and the ability to create, tencent pictures still have including content creative evaluation system, production management system, the dispersing pertains system middle office, business, and including process management, government relations, risk control and other functions, including professional platform support line.These abilities, just in line with the main theme content production needs.From this point of view, Tencent film this adjustment, more like a step “to retreat into the” second chess.