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After moving out of the "LeTV Building", LeTV wants to make a comeback with live streaming

time：2023-01-27 07:38:00 source：scripttoolbox.com author：Chassis

After moving out of the "LeTV Building", LeTV wants to make a comeback with live streaming

To say that the Internet company on the market that best fits the description of "poor and happy" is LeTV. In the Spring Festival of 2021, LeTV's updated icon "owes 12.2 billion", and netizens complained that "LeTV video is not as good as changing its name to optimistic video"; in April this year, the rumor that LeTV brought tens of millions of income only by rent and "The Legend of Zhen Huan" began to spread. ; In July this year, a blogger said that "LeTV is not introverted and 996 internally, living a fairy life without a boss", which has aroused the envy of many workers; The news of "20,000 yuan" was even trending on Weibo on the same day. This series of Weibo hot searches related to LeEco brought LeEco, which was once forgotten by the market, back into the public eye, and LeEco's official response made many netizens say, "I didn't expect LeEco to be alive, and Live well." Recently, according to domestic media reports, a relevant person from LeTV revealed that all LeTV employees received an internal letter from the Human Resources Department yesterday. The internal letter shows that LeTV will move out of Lerong Building (formerly LeTV Building) from September 24th to 25th. Lerong Building will be taken over by the new owner, Beijing Hengying Property Management Co., Ltd. The base camp, which also fell to the bottom, waved goodbye. (Source: LeTV) Looking back at the entire history of China's Internet development, it is not difficult to find that even in such an environment of fierce competition and a hundred flowers blooming, the existence of LeTV is still a wonderful work that cannot be ignored. Let's take this opportunity to review the highlights of LeEco's past, and discuss how LeEco can successfully "turn over" in the face of the dual pressures of raising a family and repaying debts?

Former Glory

Founded in 2004, LeTV first appeared in front of everyone as a video platform. In the era when the entire network video platform mainly relied on users to upload videos, the CEO of LeTV acquired a large number of genuine copyrights at a low price with his keen sense of smell. Some of the content on the site was uploaded by users and added with patch ads, while the other part was purchased by LeTV. The copyright is then distributed online for a fee, and the first step has opened the era of real money to buy the copyright of film and television works. This profit model of "the platform purchases genuine copyrights and users pay to watch" successfully broke the dilemma that the head video platform could not rely on pure advertising revenue to cover the operating costs of the platform, and laid a solid foundation for the subsequent development of LeTV Video. Today, this model has been imitated by other platforms, and membership has become a major source of income for many video platforms. (Source: LeTV) In 2010, LeTV was listed on the Growth Enterprise Market, becoming the first A-share listed video website in one fell swoop. Although LeEco can only be regarded as a second-tier player in the industry compared to strong rivals such as Youku, Tudou, iQiyi, and Tencent Video, but with its first-mover advantage, LeEco's stock price has continued to rise, and the company quickly successfully raised 681 million yuan. The skyrocketing profits and capital reserves have given Jia Yueting the idea of doing more things. From 2011 to 2014, LeTV successively established two companies, LeTV Pictures and LeTV Zhixin. Under the guidance of the "ecological anti" theory, LeTV launched a comprehensive layout, covering the film industry, e-commerce, TV, cloud disk, sports , automobiles, hardware and other sectors, with the intention of integrating major businesses into a whole ecosystem and establishing the so-called "LeEco Empire". Even today, the idea of "LeEco Empire" is an unrealistic dream, but Jia Yueting moved countless investors with this huge idea. In 2015, LeEco's total market value exceeded 170 billion yuan, becoming the largest listed company on the GEM at that time, and officially announced that it had joined the fierce competition in the mobile phone industry. The following year, LeEco launched its first concept car, which will compete with Jia Yueting's. The "ecological" dream has reached its peak. (LeTV 1st generation super mobile phone, source: LeTV) At that time, LeTV was undoubtedly at the peak of its life. According to Luo Chao, the founder of Lei Technology, the LeEco building at that time was always crowded and crowded, and LeEco’s small partners had light in their eyes when introducing the company’s strategy. Lei Technology has also participated in many LeEco events, and has the honor to evaluate LeEco's main products from the early stage to the later stage. It is also a deep understanding of LeEco's proud software and hardware ecological chain model. Unfortunately, this splendor was short-lived. Not long after LeTV's stock price peaked, Jia Yueting reduced his stock holdings many times, and LeTV's default in payment for goods was revealed. Even if Sun Hongbin, who was invested by Sunac Holdings, invested heavily in the rescue the following year, it still failed to restore LeTV's stock price plummeting and huge losses. The once-bright LeTV has gradually faded out of people's field of vision. The so-called "seeing him raise a tall building, seeing him entertain guests, and seeing his building collapse" is nothing more than this.

Persistence today

So the question is, what is LeEco doing today? It is understood that the LeTV system is currently mainly composed of two main companies, LeTV Information Technology (Beijing) Co., Ltd. and LeRongzhixin Electronic Technology (Tianjin) Co., Ltd., of which LeTV’s main business is LeTV video, cloud computing, etc. , and behind the new LeTV TVs, LeTV mobile phones and other LeTV hardware products that have been introduced to the market in the past two years, LeRongzhixin is operating. The first is LeTV Video. According to LeTV.com's 2022 semi-annual report, in the first half of this year, LeTV.com launched 29 follow-up dramas, 207 library dramas, 144 movies, and 62 animations. Video clips have been diverted, and LeTV has added about 3 million registered users in the past six months. Although the existing drama resources are far from the three giants of iQiyi, Youku and Tencent Video, LeTV itself is indeed operating stably. (Source: LeTV) In terms of hardware, in addition to the smart ecological products that have restarted the layout in the past two years, the main product of Lerong's innovation is the LeTV Super TV. At the media communication meeting a while ago, LeEco released two new TV products this year, F65 Pro and G65 ES, showed off the newly launched mobile phone Y2 Pro, and announced that it will deploy super TVs and LeEco mobile phones as smart home products. In the future, it will continue to launch full-scenario smart home solutions covering smart living rooms, smart bedrooms, smart kitchens, smart bathrooms, and smart security. The ideal is very plump, but the reality is always skinny. According to Xiaolei's investigation, LeTV's hardware business is currently developing tepidly. On third-party e-commerce platforms, there are only 500 reviews for LeTV's new TVs, and the cumulative reviews for older TVs are only 100,000+. Compared with other brands of TVs, the evaluation of 1 million+ pieces is not too much. As for the evaluation of LeTV mobile phones, there are only 1200+ reviews. Compared with other mobile phone brand manufacturers, this data is not even a fraction. (Photo source: JD.com) In addition, at the 919 Music Fan Festival held by LeTV recently, Xia Xiaoyan, head of the LeTV brand, said that LeTV is striving to become the next New Oriental. The problem is that LeEco has neither caught up with the mid-year window period of the live broadcast industry, nor does it have a diverse and unique delivery anchor like Dong Yuhui. After Li Jiaqi announced his return, it is still unknown whether LeTV can save itself through live broadcast delivery. number. Finally, from a pragmatic point of view, Xiaolei still hopes that LeTV can stand up again, at least so many people who are still waiting to repay their debts have also settled their debt collection. As an Internet brand that was once a smash hit, the LeTV brand itself has a good amount of attention. Do a good job of live streaming, build a C2M shopping platform, achieve good cooperation with e-commerce companies such as JD.com, and steadily launch new products. Perhaps LeTV can return to the public's vision with a new look. It is not terrible to owe money, but the most terrible thing is not to take responsibility for yourself.

(Responsible editor：A main board)

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