Another "Chinese 188bet online casino games" encountered embarrassment.

Recently，Multiple media reports，A-share listed company Aofei 188bet online casino games intends to sell some assets of its comic platform "Youyaoqi"。For this news，Aofei responded，Always looking for suitable strategic investors for Youyaoqi，Hope to introduce high-quality resources，Helping the Youyaoqi platform to develop and grow。“If relevant matters are determined，The company will strictly fulfill its disclosure obligations in accordance with the regulations and requirements for information disclosure。”

This is a slightly sad story.

August 2015，Aofei animation price 9.0.4 billion yuan acquisition has evil spirit。This acquisition was once regarded as a landmark event in the animation field，It is also one of the important nodes in the Aofei Pan Entertainment strategy。February 2016，Aofei Animation changed its name to Aofei Entertainment，Announced to build a “New Generation 188bet online casino games” with Chinese characteristics and global vision。

More than three years have passed in the blink of an eye，Youyouqi, which had high hopes, failed to explode on the mobile terminal，Nowadays it is difficult to see Tencent comics and Kuaikan comics items，Aofei Entertainment has drifted away from its 188bet online casino games dream。Financial report display，Aofei Entertainment’s total revenue in 2017 36.4.2 billion yuan，8 year-on-year increase.39%；Net profit 9012.960,000 yuan，Decrease by 81 year-on-year.92%，However, the loss attributable to shareholders of listed companies after deducting non-recurring gains and losses is 1.600 million yuan，Compared to 2016 profit 3.3.9 billion yuan，Reduced by 147.2%。The weakness in revenue has not eased in 2018: net profit in the first three quarters of 2018 was only 7259.770,000 yuan，Decrease of 76 year-on-year.98%。

Recent years，There are already many companies shouting the slogan “China 188bet online casino games”，Including film companies、Toy Company、Real estate company, etc.。These self-proclaimed attempts to benchmark 188bet online casino games，Some have ended sadly，Some of them are no longer worthy of their name，Some are still trying to explore。At least based on the current business development situation，They are still separated from the real 188bet online casino games by thousands of rivers and mountains。

The Great Leap Forward of Native 188bet online casino games

Before the official opening of Shanghai Disneyland on June 16, 2016，China’s local theme parks have sprung up across the country，The latter often uses the label "Chinese 188bet online casino games" in its promotional routine。

In the public eye，Local theme parks may be divided into amusement parks、Artificial Scene 188bet online casino games、Sightseeing 188bet online casino games、Several types such as specific theme parks，With the national chain brand Happy Valley、Real-life miniature scenic spot Splendid China、Haichang Polar Ocean World, etc. are represented。

April 2018，"People's Daily" mentioned in an article，From the opening of the first 188bet online casino games in the Mainland, Shenzhen "Splendid China" in 1989 to the present，Nearly 30 years，A total of about 2,500 theme parks have been launched across the country。

According to the "2017-2022 China 188bet online casino games and Tourism Real Estate Market Operation Situation Research Report" released by Zhiyan Consulting, a market research organization，The number of visitors to China’s domestic theme parks in 2015 exceeded 200 million，To 2025，This data may reach 3.6.9 billion people。According to this report，Theme parks have become more professional in recent years，Investment scale continues to increase，Among the top 20 theme parks in the Asia-Pacific region by tourist arrivals in 2015，China accounts for 13，And the OCT that ranks above it、Songcheng、Huaqiang Fantawild’s market share is still increasing。

Two theme parks in Fujian Province: Chigo Shenzhou Paradise and Xiamen Fantawild Dream Kingdom，In 2012、When they opened in 2013, they also called themselves China 188bet online casino games。Even the state-owned Aviation Industry Corporation of China announced in 2014 that it would launch a theme park called "Aviation World"，Referred to as the "aviation version" of 188bet online casino games。

Despite the rush, most 188bet online casino games revenue is bleak.

According to the "China 188bet online casino games Industry Development Model and Investment Strategic Planning Analysis Report" released by the Qianzhan Industry Research Institute，70% of theme parks in the Mainland are losing money，20% flat，Only 10% achieve profitability。

June 2018，Changzhou China Dinosaur Park’s third IPO attempt failed。Changzhou Dinosaur Park opened in 2000，It is an earlier and relatively mature 188bet online casino games in China，Profitable from 2015 to 2017，Net profit is 63.41 million yuan respectively、30.49 million yuan and 67.61 million yuan，But the China Securities Regulatory Commission still questions whether it has sustained profitability。

Stated in the aforementioned article of "People's Daily"，These 188bet online casino games satisfy the needs of the masses while，Topic ambiguity exists、Empty content、Shoddy aesthetic、Insufficient innovation during operation、Problems such as sloppy subsequent development；The result of these problems is，The crowd became deserted shortly after opening，Even reduced from a cultural asset to a negative asset in the city。

"China Times" quoted industry analysts as saying，One of the reasons why domestic 188bet online casino games have difficulty making profits is，Many 188bet online casino games are built as supporting facilities for real estate projects，The purpose of developing 188bet online casino games is to drive real estate sales，The ownership lacks planning for subsequent operations。

In contrast, Shanghai Disneyland was built with an investment of US.5 billion (approximately 37.7 billion 188bet online casino games)，Opened in June 2016，Already achieved a small profit by the Q2 financial quarter of 2017。

How can 188bet online casino games do it?

188bet online casino games’s global influence extends beyond theme parks，While the theme park business is rarely achieving impressive results，Many Chinese companies seem to have discovered the real secret to 188bet online casino games’s success，They all found new ways，Attempting to use IP as origin，Inspiring media one by one、Film and TV、Multiple business sectors such as live entertainment。

188bet online casino games’s total revenue in fiscal year 2018 is 594.US.4 billion，In income composition，The two largest revenue segments are the media network business and the parks and resorts business，The proportion is 41.22% and 34.15%，The rest is film and television entertainment business (16.8%）、Consumer products and interactive media business (7.83%）。

188bet online casino games founded in 1926，Originally just an animation studio。In the 1928 cartoon "Steamboat Willie"，Mickey Mouse is born。Back in the 1930s，188bet online casino games founder Walt 188bet online casino games has already begun to develop animation derivatives。1955，The world’s first Disneyland was completed in California, USA。

1996，188bet online casino games acquires American Broadcasting Company (ABC)，Get involved in radio and television business。The latter is one of the four major television systems in the United States，Also the largest shareholder of ESPN, the world’s largest sports media。ESPN and 188bet online casino games’s own television channels become major revenue sources for 188bet online casino games’s media network business，Member income accounts for half，The rest is advertising and copyright income。

The popular character image is the foundation for 188bet online casino games to establish its influence，Mickey Mouse、Images such as Donald Duck have become deeply rooted in people’s hearts around the world。

188bet online casino games’s early original IP has a clear tendency to younger people，Since 2006，By spending huge sums to acquire Pixar (.4 billion)、Marvel Entertainment (42.USD 400 million)、Lucasfilm (40.USD 500 million)，Only now we have an IP library that is suitable for all ages。

The uniqueness of 188bet online casino games’s creation of IP is，It can continuously inject new value of the times into IP prototypes。For example，"Frozen" subverts the value of princes，And the presentation of the princesses in "Wreck-It Ralph 2: Havoc on the Internet"，subverts 188bet online casino games’s own past narrative system。

Princess IP brings huge returns to 188bet online casino games。Construction funds for Disneyland in California，Profit from the movie "Snow White and the Seven Dwarfs"。After the release of "Frozen"，A princess dress from the movie，Less than a year，3 million units sold in the US alone，Income about 4.USD 500 million。

188bet online casino games has always been considered a model of the franchise model，In other words，Through brand authorization，Collaborate globally。For example, Shanghai Disneyland is a joint project between 188bet online casino games Company and Shanghai Shendi Group，Both parties jointly established a management company，Responsible for the creativity of the park、Development and operations work，Among them，188bet online casino games holds 70% of the shares。

Recognized as the most successful Tokyo Disneyland，The 188bet online casino games Company does not have ownership rights，Japan Oriental Paradise Company holds ownership and is responsible for operation and management，Pay a certain franchise fee to 188bet online casino games every year。

Peter Weill, a researcher at MIT Sloan School of Management thinks，188bet online casino games’s business model has been changing over the past few decades，1984，Theme park business accounts for as high as 65% of revenue，It has dropped to 30% in 2009，The proportion of revenue from intellectual property licensing increased from 15% in 1984 to 63% in 2009。

In other words，Franchising under the 188bet online casino games model，We are gradually reducing our reliance on industrial licensed operations such as parks，Instead, it turned to intellectual property licensing with higher profit value。

Different paths lead to the same destination

188bet online casino games’s Chinese apprentices are emerging in endlessly，It is not unrelated to the rapid development of China’s pan-entertainment industry。

According to the "2018 China Pan-Entertainment Industry White Paper" released by the Ministry of Industry and Information Technology，The output value of China’s pan-entertainment industry in 2016 was 415.5 billion yuan，About 18% 188bet online casino games digital economy.4%，In 2017, this number reached 548.4 billion yuan，32% year-on-year growth。

From the perspective of various subdivided industries under the pan-entertainment landscape，The film industry has jumped since 2014，2015 enters the outbreak period，48 year-on-year increase.7%；Game industry since 2013，The growth rate exceeds 100% for two consecutive years，The sales revenue 188bet online casino games mobile game market in 2017 exceeded 100 billion yuan。

The industry trend is coming。How to achieve a greater cause next，How to tell a touching story to the public and investors，Most founders of entertainment companies in China do not have many options to choose from or have not yet had time to make their own way，At this time, grafting 188bet online casino games’s mature model is a good choice。

Briefly dismantle the elements of 188bet online casino games’s operating model，respectively IP、Channel、Derivatives、Real-life entertainment。Chinese companies also start from these areas，Build your own 188bet online casino games，Buy whatever you need。

Film companies lack derivatives and live-action 188bet online casino games.

Wang Changtian, Chairman of Enlight Media, said at the "2014 China Investment Annual Conference"，The development template of light is 188bet online casino games，To complete the layout of the entire industry chain。2 months later，Enlight Media announced the launch of the live entertainment project "China Movie World" with a total investment of 10 billion yuan。

In Wang Changtian’s opinion，The Rays want to invest in a company group，Except games、Animation Company，There are also Internet video companies、Film extended 188bet online casino games chain service company，Even the Internet community，This group of companies will together form a complete content 188bet online casino games chain。

Film companies trying to copy the 188bet online casino games model include Huayi Brothers。Because of the cooperation with Feng Xiaogang，Huayi has some inherent advantages in content IP。

2014，Huayi begins the strategy of “de-filming”，Vigorous deployment of live entertainment business。Wang Zhongjun also emphasized many times，Huayi is more than just a film company，188bet online casino games is the role model。Financial report display，As of the end of 2017，Huayi has signed contracts for 18 live entertainment projects。

Real estate 188bet online casino games and toy 188bet online casino games are short of IP.

Wanda launched the cultural tourism city project to compete with 188bet online casino games as early as 2012，Wang Jianlin once said，“I just went to Disneyland，I want to prove it with facts，Chinese tourism projects can compete with well-known American brands”。

Part 188bet online casino games content was originally planned to be supplemented by Legendary Pictures，The latter was acquired by Wanda for US.5 billion (approximately 23 billion yuan) in early 2016。May 2016，Wanda once planned to integrate Legendary Pictures and Wanda Film and Television into the listed company Wanda Film，But the reorganization case ultimately failed。2018，Wanda Film launches reorganization again，Plan to spin off Legendary Pictures，The transaction price has also shrunk significantly。

Although Wanda is from a real estate company，But Wanda Film owns the number one theater chain in the country at the box office，Also hoarded a lot of IP。In comparison，Toy Company Aofei，The path to building the 188bet online casino games model is more tortuous。

1993，Audi Toys was established in Guangzhou。1997，Founder Cai Dongqing introduced the cartoon "Four Drivers Brothers" 188bet online casino games Japan。With the popularity of "Four Drivers Brothers"，Audi Double Diamond’s four-wheel drive toy is all the rage。After tasting the sweetness of "animation + toys"，2004，The newly established Aofei Culture produced the "Fireboy King" cartoon series，Yo-yo has become the new national toy after four-wheel drive vehicle。

2007，Audi Toys carries out joint-stock reform，established Aofei Animation，And listed on the Shenzhen Stock Exchange in 2009。After listing，Aofei launched a series of acquisitions，Especially at the content level，2013，Spend 5.3.6 billion 188bet online casino games acquisition of "Xiyangyang" brand and its production team；2015，With 9.The acquisition of a comic platform worth 0.4 billion 188bet online casino games has a demonic quality。

Still thousands of miles apart

Although many companies have set up similar frameworks following the 188bet online casino games model，But their revenue structure is not “188bet online casino games”。

Take the 2017 financial report data as an example，The majority of Aofei 188bet online casino games’s revenue comes from toy sales (53.67%) and baby products (23.86%）；Huayi Brothers’ revenue mainly comes from the film and television 188bet online casino games business (85.5%），i.e. movie、TV series production and distribution、Artist management and other services；Enlight Media’s situation is similar to Huayi，Film and derivatives business accounted for 67.17% proportion，The second is the live video service (26.66%）。

On the contrary, they are two sections that are not prominent in the 188bet online casino games model，Outstanding in the model of Chinese companies: games and cultural real estate。

In the face of the huge output value of the game industry，Almost all companies targeting 188bet online casino games inevitably invest in one or two game companies: Rays invested in Refront Network，Huayi invested in Zhangqu Technology and Yinhan Technology，Aofei acquired Fangcun Technology and Aileyou。

Compared to movie box office revenue and 188bet online casino games ticket revenue，Game income is the real daily income。The mobile game of the same name of the TV series "A Thousand Bones of Flowers"，Online for one month，Monthly turnover exceeds 100 million yuan。

But even 188bet online casino games，There is no real video game linkage model that can stably bring in revenue。After "A Thousand Bones of Flowers"，There is no domestic movie and game project that can reach the same revenue level。

The video game cannot be linked，The above-mentioned companies’ investments 188bet online casino games gaming field eventually became financial investments，Huayi was able to hand over satisfactory financial data in 2016 and 2017，The sale of shares 188bet online casino games game company is inseparable from the background。

However，Aofei was held back by the game business。2017，Aofei’s net profit fell sharply，“The game business did not meet expectations” is one 188bet online casino games important reasons，Affected about 0.Net profit of 3.2 billion。

A CEO of a domestic medium-sized film company told "Chinese Entrepreneur"，For film companies，We cannot survive for a long time by relying on box office alone，For long-term considerations，Making derivatives and live-action entertainment is a last resort。However，At present, there is no movie in China that can truly be a 188bet online casino games。“The life of a 188bet online casino games is determined by time、Constituted by space and characters，What we have now is often just a space，It’s money，Not created by culture。”

Huayi’s first real-life entertainment project put into operation is Feng Xiaogang Film Commune in cooperation with Mission Hills Group，Located in Haikou，Total investment 5.5 billion yuan，Opened in June 2014，2017 net profit 82.84 million yuan。At Huayi Brothers Suzhou Movie World, which opened in July 2018，Huayi Lian also holds the initiative in cultural real estate。According to Suzhou land auction transaction records，Huayi Cinema (Suzhou) Co., Ltd. won seven plots of land on the Yangcheng Lake Peninsula in Suzhou Industrial Park，Four commercial locations，Three pieces of cultural, sports and entertainment land。188bet online casino games commercial area，There are three villa projects named "Huayi Brothers Artist Village"。

Chinese companies trying to build Oriental 188bet online casino games had some bumps in 2018。New tax policies and financing difficulties，Let the film and television industry struggle in the cold winter，Aofei stock price continues to fall，Mediocre performance of Wanda Film and Television，After Cui Yongyuan’s turmoil, Huayi is even worse，Although Raytheon’s performance in the third quarter of 2018 soared，Relying on the investment income from the sale of Xinli Media shares。

*Source of this article: WeChat public account "188bet online casino games Entrepreneur Magazine" (ID: iceo-com-cn)，Author: Wang Xueqi，Original title: "You can’t learn 188bet online casino games》.