Continuous compression in recent years、188bet that divested itself of tourism business is back！

October 14，Announcement issued by Beijing Jingxi Cultural Tourism Co., Ltd. (referred to as "188bet")，Planned to use own funds 8.Acquisition of 100% equity of Beijing Oriental Landscape Resort Co., Ltd. (referred to as "Oriental Landscape") for 400 million yuan。After acquisition，188bet will acquire 18, Miyun District, Beijing.720,000 square meters of state-owned land use rights，Through Beijing Cultural Film IP，Creating a cultural tourism town with film and television themes，

Since 2017，188bet has bet on "Wolf Warrior 2" one after another、"I am not the God of Medicine"、"The Wandering Earth" and a series of hit movies，Quickly enter the center of the film market。However，Frequently betting on dark horses at the box office still cannot hide the instability of performance，To seek full industry chain and diversified development，Use the advantages of film IP resources to explore more promising projects，becomes an important way out。

Looking at the entire media field，“IP + cultural tourism” has become the focus of the strategic layout of film and television companies，Including Huayi Brothers、Light Media, etc.，They are all using their own film IP resources，Investment layout in the field of live entertainment。In the opinion of industry insiders，Real-life entertainment is the most explosive blue ocean for China’s cultural tourism industry in the future，But how to bring film and television IP offline，There are quite a few challenges。Can 188bet’s “bet” on live entertainment be successful?？

8.400 million acquisition of Oriental Landscape，Rearrangement of 188bet’s cultural tourism industry

The evening of October 14th，188bet Cultural Announcement，Planned to use own funds 8.400 million yuan to acquire 100% equity of Dongfang Shanshui。Announcement display，The main asset of Dongfang Shanshui is its legally owned 29 pieces of state-owned land use rights located in the north of Gelaoyu Village, Mujiayu Town, Miyun District, 188bet，Usage rights area is 18.720,000 square meters，And about 100 acres of leased land from the Gelaoyu Village Committee of Mujiayu Town，The lease term is 30 years。

According to 188bet Cultural Announcement，The company will build Miyun International Film Culture and Tourism Town in Miyun District, 188bet，Mainly combined with 188bet cultural film IP，Create a business district with a film and television theme + a cultural and tourism town with hotels as the core，With supporting photo studio、City of the Gods、Multi-function Cinema、Parent-child theme park、Celebrity Dining District、Theme hotels and other facilities，Realizing the company’s business extension and industrial chain layout。

188bet was originally a tourism company operating the resources of Mentougou Scenic Area in Beijing，Acquired Ferris Wheel Culture founded by Song Ge, former general manager of Wanda Film and Television in 2013，Galaxy Culture Agency founded by famous agent Wang Jinghua，After former Huayi Brothers executive Lou Xiaoxi’s Century Partner Culture Media Company，The company’s main business has gradually transformed from the original tourist attraction business to the film and television cultural business，Contains movies、TV drama web drama、Artist manager、Variety show、New media and other business sectors。

What made 188bet famous in the film industry，It is the guaranteed publisher of "Wolf Warrior 2"，In the end, "Wolf Warrior 2" ended with 56.With a box office of 800 million yuan, it became the highest-grossing movie in Chinese film history。Afterwards，188bet has continuously invested in popular movies，"I'm Not the God of Medicine" and "The Wandering Earth" achieved box office of 3.1 billion and 4.6 billion respectively。

Due to the long time required for video settlement and payment，Even the revenue effect brought by the popular items cannot be reflected immediately，This has also caused 188bet’s performance to fluctuate significantly in recent years，Profits are concentrated in the fourth quarter。2017，188bet’s net profit attributable to listed companies is 3.100 million yuan，Down 40.59%，Net profit from the first to the fourth quarter was 5.01 million yuan respectively、33.65 million yuan、-19.74 million yuan and 2.900 million yuan；In 2018, the company’s performance increased profits but not revenue，Net profit increased by 4 year-on-year.99%，Operating income decreased by 8% year-on-year.78%，Net profit from the first to the fourth quarter was 12.75 million yuan respectively、31.48 million yuan、2.02 million yuan and 2.800 million yuan。

First half of this year，188bet cultural operating income decreased by 79% year-on-year.54%，Net profit loss 5367.880,000 yuan。And thanks to the revenue recognition from projects such as "The Wandering Earth"，The company expects the net profit attributable to shareholders of the company to be 100 million-1 in the first three quarters.300 million，116 year-on-year increase.17%-181.03%。

188bet’s net profit trend in recent years

Not just 188bet，Looking at the entire film and television industry，Also full of uncertainties and risks，Watch one or two popular movies，Does not mean the ability to sustainably participate in hot sales，There is no guarantee of continued profitability。

2018，The total box office size of China’s 188bet market exceeded 60 billion，The number of movie viewers reached 17.1.6 billion，Becoming the second largest 188bet market in the world after the United States。But the performance of 188bet and television companies is not optimistic。Data display，Last year, more than half of the profits of A-share 188bet and television companies fell or even suffered losses。First half of this year，The performance of 11 A-share 188bet and television stocks has not improved significantly，Among them，Huayi Brothers becomes the company with the worst losses，Income in the first half of the year 10.800 million，Down by half，Net profit fell 236.75%。Semi-annual report in progress，The company summarized the reason for the decline in performance as "the box office performance of films released in the same period last year was outstanding"。

That’s why，Many 188bet and television companies are seeking full industry chain and diversified development，Combining its own 188bet resource advantages to create cultural tourism towns and other real-life entertainment projects。

There is still a shortage of self-owned 188bet, and resistance to betting on live entertainment still exists

mentions of live entertainment，Universal Studios, USA、World-class large-scale entertainment projects such as Disneyland have proven to the world the feasibility of the "188bet and television IP + cultural tourism" business model。in the country，Including Huayi Brothers、Light Media、Great Wall 188bet and Television and other media companies have laid out this track，Among them, Huayi Brothers is the most prominent。

2014，Huayi Brothers shouted the slogan "De-simplification of movies"，Continuously deepening the field of live entertainment，In 2014 and 2018, he created Haikou Mission Hills Huayi Feng Xiaogang 188bet Commune、Huayi Brothers (Suzhou) Movie World、Huayi Brothers (Changsha) Movie Town。September this year，Jianye·Huayi Brothers Movie Town Opens，According to its latest announcement，It is expected that 1-2 more live entertainment projects will be launched during the year。

The 188bet and television company’s layout of live entertainment has unique advantages at the content level，Many influential IPs have become a powerful reserve of power。Among the top 25 theme parks in the world in 2018，Real-location entertainment occupies an absolute leading position，Especially Disneyland。Many IP elements under Disney are used in the park，forming major theme scenic spots，A large number of 188bet and television IPs provide content support for its live entertainment construction。

Zou Yi, general manager of Lingyi Consulting, expressed his views on Zhihui，Real-life entertainment as a new blue ocean for China’s cultural tourism industry，Is the main direction of upgrading the cultural tourism industry。It is a major trend for 188bet and television companies to move from online to offline layout of real-life entertainment。In his opinion，IP is the key to creating live entertainment projects，No solid brand IP，Not to mention forming a brand cluster。

Compared with Huayi Brothers，Although 188bet has repeatedly bet on "big hits"，But we still lack our own popular IP。

Compared to Huayi’s own investment and production，188bet has participated in many films。Data display，"The Wandering Earth" was originally a project of China Film Co., Ltd.，188bet announced its participation in investment in January 2017。According to Mtime.com report，188bet is the fourth investor in "I'm Not the God of Medicine"，The investment amount accounts for about ten percent。In "Wolf Warrior 2"，188bet is a joint producer、Guarantee issuer and publicity organizer。Therefore，188bet still has shortcomings in film and television IP resources，There are not enough IPs completely dominated by oneself，In terms of overall strength，Still need to accumulate more film and television works，Only then can we have more say。

Zou Yi thinks，The implementation of live entertainment projects does not matter the number of IPs，The key lies in the choice of IP，See if it is suitable for offline products。188bet’s above-mentioned hit video，Science fiction movies like "The Wandering Earth" are very suitable for offline scenes，And it is time-sensitive。

In fact，188bet is also looking for the next "The Wandering Earth"，The "Feng Shen Trilogy" created with a lot of money has been launched in September 2018。According to media reports，This three-part mythological film plans to invest 3 billion，Positioned as “Chinese’s own mythological epic blockbuster”，Intended to be the Chinese "Lord of the Rings"。

2018 annual report display，188bet’s early development costs and investment for the “Fengshen” super IP project have reached 3.600 million yuan，Of which 300 million yuan was the 300 million yuan raised by the company’s 2016 non-public issuance that was originally used to “increase the capital of its wholly-owned subsidiary Amy Investment”。

However，Risks in movies based on "Fengshen" still exist。Currently，A 188bet adapted from the mythical story "Feng Shen Bang"、Countless TV series，Various production quality。How to grasp the balance between mainstream values ​​and artistic creation scale，It is still full of challenges for the main creator。It is now difficult for Hollywood blockbusters to attract audiences simply by relying on visual effects，The over-developed Fengshen IP，Can it create a box office miracle，Still full of uncertainty，How to implement IP in offline scenarios，Greater challenge。

In addition，Cultural tourism projects involve a large number of industrial operations，188bet has no experience in operating large-scale cultural tourism projects，It is difficult to get rid of the suspicion of "layman"。Zou Yi also said，The biggest challenge for 188bet to build a film and television town is the secondary development of IP，Lack of experience is still a shortcoming。He thinks，The most important thing in IP development is scene design and business model establishment。The IPization of live entertainment is still in its infancy in China，Whether it is for cultural tourism developers or IP owners，This is a new direction and topic。

Specialized in the art，188bet wants to break away from dependence on box office，Perfectly combine film and television works with cultural tourism，This road is not easy。