Valuation of 8.3 billion last year earned more than 20,000, and cat-eye movie profit model is grim-the cat's eye movies, cat's eye-IT information
Do not know how much media CEO Wang changtian heart after repeated thought, final with another surname "Wang" network of men-Group CEO Wang in hand. Announced the acquisition of cat's eye stake in Investor Conference, Wang changtian said: "this is one of the biggest decisions I do. ”
2.383 billion yuan in cash + 176 million shares of the media stock, since backed by such a large amount was "cat's eye movies" 57.4% stake in the online movie ticketing platform. Meanwhile, the cat's eye which the largest proportion of online ticketing platform of financial data to show up: only 23,800 yuan in net profit last year, this figure is reasonable, and in addition to the reason.
Nearly two years of explosive growth of the online ticket industry, as with other segments of the Internet, intense war of subsidies become the biggest driving force of industrial development. But the subsidies alone is not a long-term solution, if financing is no longer sustainable, they imagined already to some extent overdraw online ticketing platform, how to make money has become a serious problem.
High valuations but small profit
Wang changtian now get it only in the hands of "cat's eye", although we were the envy of the leading companies in the industry, but its profitability is poor is also true in front.
Cat's eye, formerly known as American network's movie business, set up in 2012. Last July, the cat's eye movies day set aside for wholly-owned subsidiaries under cat's eye for beauty culture communication co., Ltd. In June of this year, Wang changtian announced holding the cat's eye, becoming its largest shareholder.
Wang changtian said at the Investor Conference: "use the platform of the new cat's eye, work with light, has the potential to change the pattern of Chinese films. We are in China's film market, entertainment content to become a leader in the market. Goal of this acquisition makes us significantly forward. ”
But while Wang changtian hopeful, but the media as a publicly listed company, for all the talk to yield capital markets, cat's eye does not appear to be the short term since backed money.
Media Bulletin, cat's eye in 2015-2016 1 March revenues, does not release data from net profit, 2015 eye net profit of 23,800, 2016 80,800 yuan in net profit in the first quarter, from these data and their valuation of more than 8 billion yuan, thickening of the merger does not light media performance. But the light value is clearly not just profits, more online ticketing platform is to seize this important resource.
Outside is not surprising fact is, cat's eye, photo era, Amoy votes, several online movie ticketing platform is not to a State of sustained profitability, still occupy the number of stages, while online movie ticketing platform was able to develop so rapidly, a core reason behind but also from crazy money.
Burning money in the short term will not end
In the past two years, the online ticketing platform by way of fare subsidies, a burn, rapid expansion of online ticketing market. In 2015 lunar new year Spring Festival, for example, only in the day of the lunar new year's day, cat's eye, photo, Baidu glutinous rice, Guevara unveiled a 9.9 to 19.9 Yuan of cornets.
Based on public comments public information, 2015 Spring Festival lunar new year period, public reviews more than half of the movie date can enjoy 9.9 Yuan ticket price, while the other half matches you can give to the user more than 30 yuan subsidy.
Easy insight data shows that online ticketing revenue scale for 2013 4.864 billion yuan, less than one-third of other ticket income of 16.91 billion yuan. But after two years of development, the 2015 online ticketing income would have reached 31.76 billion yuan, compared to other Ticket revenue that year's 12.31 billion yuan. 2016 online ticketing revenue is expected to grow further, reaching 47.2 billion yuan.
Art en fuyalong, Research Director, told the business daily reporters, fare subsidy includes both ticketing platform their subsidies on the one hand, partly subsidize the issuer. Online ticketing fare subsidies to some extent to enhance the users, overall viewing habits, and so on, have a very large role. Meanwhile, the film industry is developing very fast, more and more people accept the convenience of the Internet, is the reason for rapid development of online ticketing.
Currently on the market has become the era of lithography, cat's eye, Baidu glutinous rice, Amoy votes of several dominant situation, although more expensive after the apparent restraint, but this pattern has not changed in the short term. Field of science and technology Cao Haitao said well-known investors, current online ticketing platform in the price war, which is similar to the mode of the major delivery platform, through money, paying money to get users, this model is less likely to change in the near future.
No clear revenue model
Online ticketing platform hotly sought after of capital, but a problem still in front of them, "losing money making, burning the money market" approach can never be sustainable in the long term, this business model the ultimate feasibility depends on what will happen when the subsidies stopped, explore a model to make money is clearly imminent.
Easy views wisdom library analyst Huang Guofeng to daily economic news reporter said, currently online ticket platform does no mature, and clear of profit mode, despite currently these platform all development track is very more of, but no enough support financial income of big of source, in such of situation Xia also is will lose money, and posted money, business these online ticket platform company of cost also is from Yu financing. Therefore, online ticketing platform but also to explore some of the new revenue model. May have some of the biggest sources of revenue in the future film project investment and financing, there may be some investment income, for example, huayi brothers silverside technology company stakes. Investment income should also be looking for the online ticketing platform, able to invest in 40, 50 companies, their strategy is worthy of consideration.
Meanwhile, Huang Guofeng also believes that the currently four online ticketing giant had been born, the industry and other areas of the Internet should be similar to the path of development, so that the last may have only one or two giants and the stages of love kills may occur.
Cao Haitao said, from the path of development of Internet companies, like East Beijing began by electronic products, has been for nearly a decade, has no earnings, but has now created Jingdong's ecosystem, including logistics, finance and so on, from the independent companies into the biosphere system. The group, public comments and other food and drink play integrated Web site hasn't change for ecosystems, also in attracting financing, still trying to walk towards the direction of ecosystem. Online ticketing platform in the future also needs to be a process, you need to gradually integrate market consumption habits and behavior, including with third party platforms, distribution companies, performing arts companies, such as cooperation, after the consolidation of changing such patterns, avoid burning money.
估值83亿去年仅赚2万多，猫眼电影盈利模式堪忧 - 猫眼电影,猫眼 - IT资讯
不知道光线传媒总裁王长田内心经过了多少反复的思索，最终决定跟另外一个姓“王”的男人——美团网CEO王兴牵手。在宣布收购猫眼股权后的投资者交流会上，王长田说：“这是我做的最大的一个决定。”
23.83亿元现金+1.76亿股的光线传媒股票，王长田以这样巨额的金额，获得了“猫眼电影”这家在线电影票务平台57.4%股权。与此同时，猫眼这家国内占比最大的在线票务平台的财务数据也得以露面：去年净利润仅为2.38万元，这一数据既在情理之中，又在情理之外。
近两年爆发式增长的在线票务产业，与其他互联网细分市场一样，激烈的补贴大战成为推动产业发展的最大动力。但光靠补贴并非长久之计，若融资不再持续，这些估值已经在某种程度上透支了想象的在线票务平台，如何赚钱便成为了一个亟待解决的难题。
估值高但盈利差
王长田如今拿到手上的这只“猫眼”，尽管是一家大家都艳羡的行业里的领头企业，但其盈利能力很差的现状也真实摆在眼前。
猫眼的前身是美团网旗下的电影业务，成立于2012年。去年7月，猫眼电影为美团旗下全资子公司猫眼文化传媒有限公司。今年6月，王长田宣布控股猫眼，成为其第一大股东。
王长田在投资者交流会上表示：“利用新猫眼的平台，跟光线进行合作，有可能改变中国电影的格局。我们要在中国未来的电影市场、娱乐内容市场上成为领导者。这笔收购使得我们的目标大大向前迈进。”
不过，尽管王长田满怀希望，但光线传媒作为一家上市公司，对于一切以收益率说话的资本市场而言，猫眼短期似乎并不能为王长田赚到钱。
光线传媒公告中，猫眼2015年度以及2016年1~3月的营业收入一项，并未披露数据，而从净利润来看，2015年猫眼实现净利润2.38万元，2016年一季度净利润8.08万元，从这些数据与其超过80亿元的估值来看，并购并不能增厚光线传媒的业绩。但光线看重的显然不仅仅是盈利，更多的是抢占了在线票务平台这一重要的资源。
外界并不意外的一个事实是，猫眼、微影时代、淘票票等几家在线电影票务平台目前均未进入持续盈利的状态，仍然处于抢占用户数的阶段，而在线电影票务平台之所以能够发展得如此迅猛，背后一个最核心的原因也来源于疯狂烧钱。
烧钱短期不会结束
过去两年中，各大在线票务平台通过票价补贴这一烧钱方式，迅速扩大在线票务市场份额。以2015年春节贺岁档为例，仅仅在大年初一那天，猫眼、微影、百度糯米、格瓦拉等就推出了9.9元至19.9元不等的特价票。
根据大众点评公开信息，2015年春节贺岁档期间，大众点评全国半数以上的电影场次都可以享受9.9元票价，另外一半场次则可以给到用户30元以上的补贴优惠。
易观智库数据显示，2013年在线票务收入规模为48.64亿元，不到其他票务收入169.10亿元的三分之一。但经过两年的发展，2015年在线票务收入就已经达到了317.60亿元，而当年其他票务收入仅为123.10亿元。预计2016年在线票务收入将进一步增长，达到472亿元。
艺恩研究总监付亚龙向《每日经济新闻》记者表示，票价补贴主要包括两方面，一方面是售票平台自己进行补贴，一方面是发行方进行补贴。票价补贴一定程度上对提升在线票务用户数、整体观影习惯等方面，都有非常大的促进作用。与此同时，电影产业发展较快、越来越多的观众接受了互联网的便捷性，也是在线票务发展迅速的原因。
目前市场已经形成了微影时代、猫眼、百度糯米、淘票票等几家独大的局面，尽管烧钱的程度较此前有明显克制，但这种模式短期内仍然没有改变。科技文化领域知名投资人曹海涛表示，目前各大在线票务平台都在打价格战，这也类似于各大外卖平台的模式，通过烧钱、贴钱来获取用户，这个模式短期内是不太会改变的。
没有清晰的盈利模式
在线票务平台尽管备受资本追捧，但一个现实问题仍然摆在它们面前，“赔钱赚吆喝、烧钱圈市场”的做法始终不能长期持续下去，这种商业模式最终的可行性取决于在补贴停止时会发生什么，探索出一条赚钱模式显然迫在眉睫。
易观智库分析师黄国峰向《每日经济新闻》记者表示，目前在线票务平台确实没有成熟、清晰的盈利模式，尽管目前这些平台各个发展轨迹是非常多的，但没有足够支撑财务收入的大的来源，在这样的情况下还是会赔钱、贴钱，经营这些在线票务平台公司的成本还是来自于融资。因此，在线票务平台还要去探索一些新的盈利模式。未来可能有一些大的收入来源于电影项目的投融资，也可能会有一些投资性收入，例如华谊兄弟收购银汉科技等公司股权。在线票务平台投资收入也是个可以期待的点，能够投资40家、50家公司，他们的战略布局能力是值得考虑的。
与此同时，黄国峰还认为，目前四大在线票务巨头已经诞生，这个行业跟其他互联网领域的发展路径应该类似，因此最后可能就只剩下一两家巨头，而且可能还会出现相爱相杀的阶段。
曹海涛则表示，从互联网公司的发展路径来看，像京东是做电子产品起家的，已经将近十年了，都还没盈利，但是现在已经打造出了京东生态圈，包括物流、金融等，从独立购物公司变成了生态圈体系。而美团、大众点评等吃喝玩一体化的网站现在还没转变为生态圈，还在吸引融资，还在努力往生态圈方向走。未来在线票务平台也需要一个过程，需要逐渐将市场消费习惯和行为进行整合，包括与第三方平台、发行公司、演艺公司等合作，整合之后转变这样的模式，避免继续烧钱。