From us $8.4 per share, wandering in the highest to $2, 52 weeks share price fell 76%, the refraction is cool and in the past year of the business slowed sharply.
After CEO change, layoffs disputes, cast out business, interactive entertainment division stripped after a series of storm, with "grand factions" executives, which debuted cool out a video 2.0 6 transformation of the latest action, abandoned its long video, transformation do community.
Cool new CEO frank: 6 ShiYu "community is not very fresh word, but China's video on the concept of no better." Analysts believe that "community" this can help straw will cool to back in the field of video 6 the first camp is still not clear, but it shows is still in the transformation of the cool and pains period the cost control of imminent.
Give up renew the copyright video
Cool the loss-making 6, has not a. According to the American investment bank Pacif-icCrest analysis, cool and operation cost rise to its shareholders grand of the decline of the gross margin is one of the main reasons for. Earnings in the second quarter of this year, according to the sustainable business cool 6 a net loss of $21.6 million, a quarter of sustainable business net losses of $10.9 million (us $) increased by 98.2%.
This performance, apparently not its "video is big to do to the industry" grand CEO ChenTianQiao had hoped for. In July, in the experience of the painful layoffs advertising marketing team, cool after 6 announced new personnel decisions, including the ShiYu COO, six have grand background executives comprehensive 6. Afterward, capturing cool cool 6 will also its interactive entertainment division for stripping and weaken the homemade content.
A few days ago, promotion to cool and chief executive position for the first time ShiYu media, announced the launch of cool "new communities". ShiYu said, cool and community-based video website will shift to the end of next year, and will be completely done with the transformation. "The whole strategy will turn to the three roads, is a scientific, one is the UGC (user generated content), the other is a short video."
In addition, ShiYu also said, cool and the future will no longer buy long video, including movies and TV series, etc. This means that the high cost of the copyright and flow, cool and choose to give up renew the copyright video. "We probably 90% of the traffic from short video, the future is the proportion will be higher some."
According to analyst estimates of the ZhaoXuFeng erika consultation, since this year domestic long video copyright purchase cost rise 50% 100%. Overall Second quarter earnings show optimal cool, optimal cool season for content cost $7.7 million, or 25% of net income. Over the same period, cool and content the cost of 5.6 million us dollars, but when quarter of external was only us $400000, the rest of the $5.2 million the existing copyright contract is the one-time accounting treatment.
ZhaoXuFeng said: "at present, the domestic video website survival needs a large number of capital and resources. If in a certain resources, do some of the copyright of the contents of the profit is the highest." But, for now, is the cool and cash flow are clearly not abundant. So far this year on June 30, cool and hold cash and cash equivalents balance was $110 million, mainly come from June 6 issue of the grand to cool $100 million ordinary shares and convertible deal.
ShiYu told reporters: "from a cool 6 short-term business terms, because cost requirements are not so high, so $100 million to support many aspects of the operation 6 cool." He expresses at the same time, the transformation of cool 6 will be divided into three phases, including September this year has been completed before the company structure adjustment; The second step is to open beta test new communities in October, has been to early next year pays attention to the cultivation of users. The third step is completely before the end of next year to complete transformation. ShiYu think: "with the transformation, financial situation also will get a lot of improvement."
Cost under pressure of transformation
Cool, reflects the transformation of the rising cost of copyright market environment, video web site make a living difficult. In the transformation of 6 announced on the same day cool, optimal cool, potato share price falling, including both optimal cool share price five months to fallen nearly 70% since August, and potatoes IPO shares fell 18% after a. Market experts think, copyright cost, profit encounter high bottlenecks, is the whole video field was the cause of the capital market sing light.
ZhaoXuFeng think video website, is "who rich who has the last laugh", this is an inevitable stage, cool and recognised this problem. "Cool and transformation to do community service, can be understood as they temporarily drop out of the mainstream market signals, now recognized with the long video mainstream market or sell advertising give priority to."
In ShiYu in planning, the cool after transformation 6 will use and users into way realization advertising. "According to users to upload the video attract users to calculate the price of the CPN hits, and cool and do a share interests, have certain proportion to the user."
However, ZhaoXuFeng believes that the current market situation is most of China's video users want to see that play, user traffic large, but the value created is not big. "Video site itself the core value or hit by television play to create, so if give up the original film and TV content to separate the UGC, indeed cost down much, but users will drain more."
However, from the content of the contents of the quality and cost control and not cool 6 a consideration. This year, the optimal cool homemade variety show, potato net send force UGC and homemade video original content, sohu video and a motion picture film... the latter cooperation new media... Present the cost pressure video web site a diversified development.
Analysys international Fan thinks, with analysts a copyright the increasingly fierce competition, the large web sites have homemade play in divergency route, cool and take the lead in turn attack that community is also video field is more and more apparent, polarization accelerated shuffle. "In the future, leading enterprise as optimal cool, potatoes, sohu will continue to go long video route, have a bigger share of the market and advertising revenue. And like other video website will be main UGC or
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