It’s okay not to eat，It’s impossible not to buy a blind box。”The post-95 generation has given birth to new stories and outlets。

August 19, 2019，Luckin Coffee announced the launch of the “Meet Haoran” series of blind boxes in a push message on its official public account。As soon as the news comes out，Instantly hot。Today，Ruixing Coffee stated through its official Weibo，Within 5 minutes，A large number of concurrent orders caused the APP to crash。

Behind this，Except for the fanaticism of Liu Haoran fans，Also proved from the side，With blind box、IP peripheral derivatives dominated by figures and other figures are becoming the most important trendy toys at the moment。

“The rise of post-95s and post-00s，It is actually a devastating blow to foreign IP，Because these young people, collectively called the new generation, grew up in cultural confidence and China’s native cultural environment。This means，The opportunity for China’s local IP has arrived。"Wang Biao, founder and CEO of Twelve Building Culture, an entertainment consumer company that operates cartoon characters such as "Changcaoyan Tuanzi", told China Investment Network。

In the current era of the rise of local IP，What kind of craze will IP derivatives set off？Will the entry of capital against the trend accelerate the realization of IP derivatives？In this field with long profit period，How patient are investors to accompany the growth of IP？

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Tmall’s “Post-95s Players’ Hand-Chopping Power List” released in August 2019 shows，The most “money-burning” hobby of the post-95s generation，Ranked No. 1 in trendy toys。

In the past year，The year-on-year growth in sales of trendy toys on Tmall reached nearly 190%，Ranked among the best in terms of price per customer and frequency 188bet app download of consumption。At the same time，Blind box collection has become the fastest growing field for hardcore players。Data display，Tmall had nearly 200,000 “hardcore players” who spent more than 20,000 yuan on blind boxes last year，The majority are born after 1995。

Not only that，According to Xianyu official data，Blind box trading has become a tens of millions market。In the past year，There are 300,000 blind box players trading on Xianyu，The number of idle blind boxes released every month increased by 320% compared with a year ago，The price of the most popular blind box has soared 39 times。

“The blind box is a kind of spiritual sustenance。"Liu Man, a collector of post-95s figures, told China Investment Network，“I once spent more than half a month’s living expenses to buy an original Japanese blind box from a scalper，Although I have to save money，But very happy。Probably the same feeling as some people buying luxury goods。”

Wang Biao, born in the 1980s, approves of this fanaticism。He told Touzhong.com，“The future of derivatives must not be limited to ‘toys’。They will accompany you、Guard happiness、Life’s ‘necessities’ that permeate every life scene。”

It is worth mentioning，While emerging figure blind boxes and other peripheral derivatives are highly sought after，Some old-fashioned domestic products are also turning into Internet celebrities and "national trends"，Like the Forbidden City lipstick、White Rabbit toffee lip balm, etc.。

A set of data recently released by Fangli.com，January-July 2019，The search volume of the keyword "Guochao" on major e-commerce platforms increased by 392% year-on-year.more than 66%，The post-95 generation has become the biggest supporter of the “National Trend”，Contributed more than 25.8% of sales，Far beyond other age groups。

Behind the rise of “national tide”，Except for "cultural confidence"，Wang Biao also mentioned "loneliness"。

“Nostalgic people are lonelier。"Wang Biao said to China Investment Network，“The post-95 generation has a softer heart than previous generations，And this softness passes between people，Even parents、It’s not easy to express feelings between friends，This has something to do with the emotional reserve of Asians。”

From “discussing entertainment” to raising money against the trend

The domestic IP derivatives market is booming，It also allows investors to see a new dawn in the cold winter of the industry where "talk about entertainment has changed"。

Based on CVSource hit data，2019 H1，A total of 141 VC/PE financing transactions occurred in the cultural media industry，Financing transaction size is 26.USD 0.9 billion，The number and size of financing transactions were less than half of the same period last year，The lowest point since 2017。

But in the meantime，Pan-entertainment IP companies are bucking the trend，Favored by capital。March 2019，“Twelve Buildings Culture” announced that it has received nearly 100 million yuan in Series B financing from Xianfeng Qiyun Investment；Same month，Pan-entertainment IP operation and derivatives service provider “Handsliding Technology” received strategic financing from Red Shares；July 2019，Ai Man in the field of IP derivatives、Trendy Planet Merger，Completed a new round of tens of millions of yuan in financing during the same period...

However，“As investors, we don’t seem to clearly feel the so-called climax period of entertainment IP。"Wang Sheng, partner of Inno Angel Fund, told China Investment Network，"Reaching a climax may just be an effect of the successful adaptation of many movie IPs in recent years。”

In the opinion of several investors，The focus of the entertainment field in the past two years should be on “high-quality content”，IP is just a more guaranteed carrier for outputting high-quality content。

Ji Wei, founding managing partner of Huaying Capital, also recognizes the power of content。

“Header content is becoming the source of traffic，This trend is becoming more and more obvious。" Ji Wei said，“Especially in the online drama industry，The ‘One-nine Law’ has appeared。”

Last two years，Some big IP dramas attract a large number of users，Such as "The Twelve Hours of Chang'an"、"Chasing the Murderer in the White Night"、"Jiuzhou·Sea Muyun Ji" etc.，The viewing volume of these online dramas accounts for an increasing proportion of the entire online viewing volume，IP effect is becoming more and more obvious。

Challenges come.

“For content entrepreneurs，The challenges 188bet app download are getting bigger。Each subdivision track has some great content，Resources are increasingly concentrated on the head，How to take advantage of your team，Combined own resources，Create quality content，Get user recognition and retain users，Essential skills to become an entrepreneur。"Ji Wei analyzed it。

It is worth mentioning，While capital is betting on pan-entertainment IP projects against the trend，also admitted，This is an industry with extremely high investment risks。

“In fact, the risk of investing in entertainment IP is very high。”Wang Sheng confessed to China Investment Network。

He said，There are two main "methodologies" for selecting entertainment IP with commercial value。First，For existing IP，Investors should make some relatively systematic assessments of the attributes and influence of IP；Secondly，For new IP，Investors should pay more attention to the form and content of IP，And methods of propagation and diffusion。

“The core is that we need to make a quantitative estimate of the commercial value of IP。Specific measurement dimensions include IP influence、Number of fans、Quality of content、Potential commercialization capabilities of IP，IP differentiation, etc.，We will rely on this series of indicators for evaluation，Quantify the value of commercial IP。”

But，Even through an extremely systematic approach to evaluation，The quantification of IP value is still not particularly accurate。

From the perspective of an entrepreneur，Wang Biao also saw this uncertainty，"Just like a star，It is difficult for us to say what qualities a person has that make him easily popular，Leave it to the market to verify。”

IP Monetization Race

Entertainment is a long-term industry，But the commercialization of IP often dies quickly。

Old days，A large number of WeChat emoticons quickly became famous due to their "cute and stupid" image，But often cannot keep up with the speed of being forgotten。Several investors expressed their opinions on China Investment Network，IP monetization is the way to go，Derivatives may become the mainstream channel and focus for monetizing domestic entertainment IP。

“IP derivatives are a very important way to monetize，It has even become 188bet Online Sports Betting and Casino the most important monetization method worth exploring。"Wang Sheng said to China Investment Network。

Past，There is a huge gap between China’s proportion and scale in the field of IP derivatives and the United States。But，In terms of the scale of commercialization in the film and television box office and gaming fields，China is actually close to or even surpassing the United States。

"Therefore，IP derivatives are a value depression。"Wang Sheng thinks。

In the opinion of Lin Ning, the founder of Yuyue Culture，A truly excellent IP may require 7、8 years or even longer to continue building，Only form a super IP，Only in order to achieve comprehensive business value in derivatives and other fields。

But, do investors have enough patience to accompany the growth of IP?

The average number of investors who have invested in the pan-entertainment IP field expressed their opinions on China Investment Network，Such patience is essential，Because the creation cycle of good content and the cycle of gaining market recognition are very long。If this process is artificially accelerated，Huge investment and huge risks will also follow。

As an entrepreneur，Wang Biao also mentioned to China Investment Network，When choosing investors，will consider “recognizing the value of IP growth” as an important consideration。In other words，Although there are many institutions pursuing short-term interests in the market，But slow companies with proven models can always find “comrades”。

However，Growing up doesn’t mean waiting，Many opportunities are hidden in the long cycle。

Because in the process of brand development，It will also iterate and evolve accordingly。For example，“When the number of fans reaches a certain level，And have certain cultural values，The influence of this IP is enough to support a brand new brand，This brand will be optimized and upgraded through the continuous interaction between IP and fans。" Liu Tianjie, investment director of Huaying Capital, told China Investment Network。

In addition，The meaning of IP is not just a temporary hit。

“Imagine America、Japan also launches IP images that can be active for many years，Needs support from the entire industry chain，Especially subsequent IP authorization、Continuous 188bet online sports betting operation of product commercialization。During this period，Maintaining popularity is more important than triggering a craze。"Wang Biao told China Investment Network。

In Wang Biao’s heart, Disney is the benchmark for the entire industry.

However，“Foreign mature IPs represented by Disney are based on technology、Aesthetic、Concept、Commercialized complete set of output；But currently in China，IP is more single-item。"Ji Wei thinks。

But，China does not lack “Disney” genes。With the support of the post-95s generation and the maturity of the IP industry chain，“We believe that China will definitely give birth to its own ‘Disney’，There is no doubt about this。”Wang Shengcheng。

*Source of this article: WeChat public account “Touzhong.com”（ID:China-Venture）, Author: Chai Jiayin, Ma Mujie, original title: "Liu Haoran blind box、White Rabbit Lipstick: A good business that makes post-95s "burn money"？》.