The commercial industry chain supported by original IP. Can the cost and profit of frantic acquisition and snatching of IP be equal?

IP is money. For IP operations, the commercial value of high-quality IP is huge. It is understood that in Hollywood animation movies, the number of superhero series movies only accounts for 10%, but they create 80% of the profits. In the toy manufacturing industry, well-known IP co-branded toys can often make amazing sales. Therefore, in the commercial competition among the major toy giants, the battle for IP is very fierce. What is IP? When it comes to IP, the most important thing is to clarify the concept. IP is the abbreviation of Intellectual Property, literally and roughly translated as intellectual copyright, specifically referring to cross-media content operations with long-term vitality and commercial value. In the 1990s, the concept of IP emerged in the American animation industry, starting with the DC Comics' 'Superman' and 'Batman' movie series. According to statistics, in the global box office, the single IP with the highest cumulative box office is a series of works, and 70% of the IP with the highest box office are animation adaptations. After animation IP has also created huge profits in games and derivatives, the cultural industry has gradually seen the value of IP operations. The commercial industry chain supported by original IP Disney is the most typical example of original IP companies. Animation protagonists such as Mickey Mouse, Donald Duck and Snow White are all IPs developed by Disney in the early days. These high-quality IPs have created huge profits for Disney. The revenue structure of Disney includes television and network business, Disneyland resorts, movies, and entertainment, which account for 44%, 30.8%, and 14%, respectively. Other derivatives and interactive games account for approximately 11.2%. It can be seen that Disneyland is not Disney’s main revenue. Its core business model is IP value-oriented, and then the derivative value of IP radiates other industrial links, thus building a huge IP empire. Compared with China, Huaqiang Fangte is a more successful company with original IP. According to statistics, after the original animation 'Bear InfestationIn 2019, there were a total of six 'Bear Infested' movies on the big screen, with a cumulative box office of more than 2.6 billion so far, which can be said to be the most influential animation IP. Powerful IP naturally radiates to Huaqiang Fantawild’s theme parks and derivatives business. According to the “Economic Observer” report, every bear-infested park landed on Huaqiang Fantawild brings creative design revenue of 210 million yuan. From this point of view, Disney and Huaqiang Fang are doing more than just a park, but a business model based on IP operations. But is there a lot of money to make an original IP? the answer is negative. In addition to 'Bear InfestedAnd Dream East, which is also a theme park + IP business model, is the representative of the 'Deer Elf' series, as of January, but the data shows that from June 30, 2018 to June 30, 2019, three reporting periods of theme park operations The income is far from the income from property development and leasing, and there has been a downward trend in the last two reporting periods. The effect of IP in helping theme parks remains to be seen. Can the cost and profit be equal to the frantic acquisition and grabbing of IP? The commercial value created by original IP is obvious. For companies that lack their own high-quality IP or want to expand their own IP, acquiring a company is the most direct way to grab IP and occupy the market. Some time ago, the American toy giant Hasbro, which owns popular IP such as Transformers My Little Pony, has subsequently acquired Entertainment One Ltd, the parent company of Peppa Pig. According to media reports, the acquisition will strengthen Hasbro’s brand for the preschool market, optimize the company’s brand portfolio, and greatly improve the company’s media content creation and program production capabilities, and enhance the company’s IP in television, film and other media. The exposure rate of the channel. As mentioned above, Disney, which started with original IP and established an IP empire, later acquired Captain America, Iron Man, Star Wars and other heroes through the acquisition of Pixar, Marvel, and Lucas Pictures. Based on these high-quality IPs, the Disney Empire has begun to expand its territory, establishing a global cultural and entertainment ecological chain that integrates multiple industries such as film, television, travel, music, games, publishing, and the Internet. Aofei Entertainment, which started with toy manufacturing, first cooperated with Japanese animation to introduce copyrights and launched series of toys such as Pokemon and Tiga Ultraman. After that, it entered the pan-entertainment field, developed original content, and made a lot of investment and mergers. According to statistics from Tianyancha, from 2011 to 2019, Aofei invested and financed 63 companies and acquired 8 companies. A large number of acquisitions have allowed Aofei to have a reserve of super-large IPs such as 'Pleasant Goat and Big Big WolfHowever, the crazy expansion model brought huge financial pressure. In the first half of 2019, the company achieved total operating income of 1,359,666,200 yuan, a decrease of 2.52% year-on-year; realized total profit of 133,555,000 yuan, an increase of 14.32% year-on-year. It remains to be seen whether the growth brought by IP to the company's business can be greatly improved in the future. After a large number of acquisitions, Aofei can open up the upper and lower industrial chains and establish its own IP empire, we will wait and see!