Judging from the financial report just announced by the video platform, it may be due to the fluctuation of the membership increase due to the abnormal situation of the epidemic. In the second quarter, the members of iQiyi and Tencent Video were not in a state of high growth, but in the long run, the number of 100 million members has already reached 100 million. It is the steady state of the video industry. In the long run, judging from the hotspots of public opinion created by video content, attracting users to pay with high-quality content is a platform model that is constantly being verified.
Recent research data from Guosheng Securities shows that 79.5% of paying members are subscription members who watch VIP video content. That is to say, the first element that attracts members to pay is content - to be precise, the ability to build systematic content. If the history of online video development in China is Fax List divided by thick lines, it can be basically divided into: From 2004 to 2010, free UGC content dominated; From 2010 to 2014, the copyright war began to try to pay for membership viewing; From 2014 to 2019, exclusive broadcast + self-made began to rise to the strategic level; Since 2019, the ability to build systematic content has become the core of competition. Founder Securities once took iQIYI as an example in a report to point out what is the ability to build systematic content: there are various types of content development models.
Through its own team production + external studio co-production + film and television drama customization + equity participation or Invest in film and television companies in a variety of ways; complement each other in frequency and form in terms of content, such as constructing "big production long drama + short drama/seasonal drama + small production short drama", "seasonal program + weekly program" + Daily broadcast programs" and other different systems, and according to the degree of quality, they are respectively positioned to "build a platform brand, quickly gather traffic", "satisfy daily viewing, improve user retention", "satisfy fragmented time viewing, improve user stickiness" , in different dimensions, forming a stable "pyramid" structure of self-made content.