Chapter 191
How much is the valuation
Chapter 191 How much is the valuation
In Beijing, Jingting Music Company is having a meeting in the conference room.
Zhou Huaiyong sat on the main seat and looked up at the senior managers sitting on both sides of the conference table.
Then he said slowly: "I believe everyone has seen the actions of TT Music. Except for a few companies that stay in KK, some companies cooperate with us, and almost all others are recruited to the TT platform."
"Let's discuss it, everyone. Next, should we continue to follow our own plan, or do something to deal with it."
In terms of status, Jingting Music has not changed, and is still the weakest of the three platforms.
But from the perspective of the situation, there are some differences.
In the past, KK had a much greater advantage, accounting for almost [-]% of the users, and these are paying users who can generate purchases.
Up to now, KK seems to be in decline. Although it still occupies as high as 60.00% of the five user groups, compared with the peak, it is much less.
As for TT Music, it claims that the number of users is equal to that of KK, but in fact, the real paying users should only account for about 20.00%, which is less than half of KK.
The remaining [-]% is the proportion of listening to music.
This approximate user group analysis is based on the comparison of data from several analysis companies. Zhou Huaiyong believes that it should be consistent with the actual situation.
Even the users of Jingting are exaggerating a bit, because although many users are also buying songs on Jingting, they don’t use Jingting’s players to listen to them.
If this part is removed, the proportion of loyal users of Jingting will be greatly reduced.
Among them, Lu Xin's song attracted a lot of people. At this moment, Zhou Huaiyong was once again grateful for his original choice.
Under the siphon effect of TT music, users will be attracted in large numbers.
Because of the existence of the four major albums, KK maintains a large number of music library resources and can maintain most of the user groups.
The content of listening to music itself is much less, and it is difficult to resist the impact from free.
After all, for those record companies recruited by TT Music, their previous song albums will be played for free on the TT platform.
Only new albums will be released for sale.
The current news is that it can be on the shelves for one year, and it is not known how it will change in the future.
As for how much the TT platform subsidized the record company for this, there is no rumor.
But it wouldn't be a small number if you think about it, otherwise they couldn't all run away from KK.
At this time, Lu Xin's songs are very important for listening to music, and they are an important support.
Although there are not many of his songs, each capital is a high-quality product, attracting users to listen to songs on TT, but they will not completely abandon Jingting.
There is some overlapping users between the two platforms, and even now between the three platforms.
There are also many people who may use two or three platform software at the same time.
"Mr. Zhou, the more powerful TT Music is, the more difficult our situation will be. I'm afraid it's too slow to continue as planned."
At this time, a high-ranking officer on the side frowned and said.
His name is Xing Jianfeng, and he was an old man who followed Zhou Huaiyong when he first created the KK platform, so he naturally had nothing to worry about when he spoke.
The rest of the people nodded, yes, the competition with the KK platform is purely a competition for content, and everyone is charging.
As long as there are songs released on the Jingting platform, there will be people who like them to buy them.
But TT Music is different. It has a large number of free songs. Even if it does not produce new songs, there will be a steady stream of people looking for them.
And if Jingting can't continue to produce new content that attracts the crowd, I am afraid that sooner or later users will be completely absorbed.
Zhou Huaiyong also nodded, "Then speed up the progress. On the one hand, the publicity and planning of the platform must be stepped up to let more people know about Jingting. On the other hand, continue to dig deep into the creative potential of musicians on the platform, and even do Come up with an incentive plan, and when the support for nursery rhymes is over, the incentive plan will be added immediately.”
Another one is that the platform needs financing.
In fact, recently, a venture capital firm has approached and given a valuation.
However, the smoother its own development and the later it accepts investment, the higher the valuation will be.
So Zhou Huaiyong has never agreed, but now TT Music seems to be making efforts, maybe the time to accept investment has come.
Of course, these things are not suitable to be discussed at the meeting. It is better to discuss with cronies after the meeting.
……
When Lu Xin received the call from Zhou Huaiyong, he had just completed the arrangement of "Firefly", and the next one was "Campus Morning".
Recently, Jingting Music has released a lot of nursery rhymes, and Chen Tingting promised to make these two songs, which he only has time to do now.
Zhou Huaiyong first introduced to him the content of the last company meeting, and then the two chatted for half an hour before hanging up.
They are mainly talking about some recent industry trends and their possible impact on Jingting Music.
There is also the response of the platform, and some cooperation that Lu Xin hopes to make.
Finally, Zhou Huaiyong mentioned that the platform may need to accept venture capital.
As one of the shareholders, Lu Xin is tied to him.
For this kind of thing, two people must agree to avoid trouble.
After all, if new investment comes in, both of their stakes may decrease.
"No problem, it should be."
Lu Xin was stunned for a while, and then said with a smile.
He never thought about building a music platform with a huge number of users by himself.
Without the entry of large capital, this kind of platform will be difficult to compete with Internet giants like TT.
Sometimes, financing involves not only money, but also capital contacts and channels, and the latter is even more important.
That is to say, TT doesn't seem to be doing its best yet, otherwise, whether it's KK or Jing Ting, I'm afraid it will be difficult to deal with it.
Speaking of it, the time he invested 2000 million to support it is not too short, and even if it wasn't for TT Music's sudden poaching of so many record companies this time, he could continue to support it for a while.
Lu Xin asked, "What is the approximate valuation?"
"Three or four hundred million, we can discuss the details."
Zhou Huaiyong smiled wryly, "It's a bit different from what I expected."
Lu Xin smiled. He knew that Zhou Huaiyong's plan was to raise funds when the valuation was at least [-] million or more.
But the plan can't keep up with the changes, which is also impossible.
In fact, Lu Xin didn't understand why all the small and medium-sized record companies on the KK platform suddenly turned to TT Music.
After all, TT has been soliciting them all the time. He didn't agree to it before, but now he agrees to almost all of them at once, which is a bit weird.
He has arranged for Ling Xue to call Maggie Records to see if he can find out some news.
"Okay, you can arrange this matter, just let me know when the time comes."
Lu Xin thought for a while and said, he actually still has a priority, and he has to plan carefully, how to choose.
(End of this chapter)
In Beijing, Jingting Music Company is having a meeting in the conference room.
Zhou Huaiyong sat on the main seat and looked up at the senior managers sitting on both sides of the conference table.
Then he said slowly: "I believe everyone has seen the actions of TT Music. Except for a few companies that stay in KK, some companies cooperate with us, and almost all others are recruited to the TT platform."
"Let's discuss it, everyone. Next, should we continue to follow our own plan, or do something to deal with it."
In terms of status, Jingting Music has not changed, and is still the weakest of the three platforms.
But from the perspective of the situation, there are some differences.
In the past, KK had a much greater advantage, accounting for almost [-]% of the users, and these are paying users who can generate purchases.
Up to now, KK seems to be in decline. Although it still occupies as high as 60.00% of the five user groups, compared with the peak, it is much less.
As for TT Music, it claims that the number of users is equal to that of KK, but in fact, the real paying users should only account for about 20.00%, which is less than half of KK.
The remaining [-]% is the proportion of listening to music.
This approximate user group analysis is based on the comparison of data from several analysis companies. Zhou Huaiyong believes that it should be consistent with the actual situation.
Even the users of Jingting are exaggerating a bit, because although many users are also buying songs on Jingting, they don’t use Jingting’s players to listen to them.
If this part is removed, the proportion of loyal users of Jingting will be greatly reduced.
Among them, Lu Xin's song attracted a lot of people. At this moment, Zhou Huaiyong was once again grateful for his original choice.
Under the siphon effect of TT music, users will be attracted in large numbers.
Because of the existence of the four major albums, KK maintains a large number of music library resources and can maintain most of the user groups.
The content of listening to music itself is much less, and it is difficult to resist the impact from free.
After all, for those record companies recruited by TT Music, their previous song albums will be played for free on the TT platform.
Only new albums will be released for sale.
The current news is that it can be on the shelves for one year, and it is not known how it will change in the future.
As for how much the TT platform subsidized the record company for this, there is no rumor.
But it wouldn't be a small number if you think about it, otherwise they couldn't all run away from KK.
At this time, Lu Xin's songs are very important for listening to music, and they are an important support.
Although there are not many of his songs, each capital is a high-quality product, attracting users to listen to songs on TT, but they will not completely abandon Jingting.
There is some overlapping users between the two platforms, and even now between the three platforms.
There are also many people who may use two or three platform software at the same time.
"Mr. Zhou, the more powerful TT Music is, the more difficult our situation will be. I'm afraid it's too slow to continue as planned."
At this time, a high-ranking officer on the side frowned and said.
His name is Xing Jianfeng, and he was an old man who followed Zhou Huaiyong when he first created the KK platform, so he naturally had nothing to worry about when he spoke.
The rest of the people nodded, yes, the competition with the KK platform is purely a competition for content, and everyone is charging.
As long as there are songs released on the Jingting platform, there will be people who like them to buy them.
But TT Music is different. It has a large number of free songs. Even if it does not produce new songs, there will be a steady stream of people looking for them.
And if Jingting can't continue to produce new content that attracts the crowd, I am afraid that sooner or later users will be completely absorbed.
Zhou Huaiyong also nodded, "Then speed up the progress. On the one hand, the publicity and planning of the platform must be stepped up to let more people know about Jingting. On the other hand, continue to dig deep into the creative potential of musicians on the platform, and even do Come up with an incentive plan, and when the support for nursery rhymes is over, the incentive plan will be added immediately.”
Another one is that the platform needs financing.
In fact, recently, a venture capital firm has approached and given a valuation.
However, the smoother its own development and the later it accepts investment, the higher the valuation will be.
So Zhou Huaiyong has never agreed, but now TT Music seems to be making efforts, maybe the time to accept investment has come.
Of course, these things are not suitable to be discussed at the meeting. It is better to discuss with cronies after the meeting.
……
When Lu Xin received the call from Zhou Huaiyong, he had just completed the arrangement of "Firefly", and the next one was "Campus Morning".
Recently, Jingting Music has released a lot of nursery rhymes, and Chen Tingting promised to make these two songs, which he only has time to do now.
Zhou Huaiyong first introduced to him the content of the last company meeting, and then the two chatted for half an hour before hanging up.
They are mainly talking about some recent industry trends and their possible impact on Jingting Music.
There is also the response of the platform, and some cooperation that Lu Xin hopes to make.
Finally, Zhou Huaiyong mentioned that the platform may need to accept venture capital.
As one of the shareholders, Lu Xin is tied to him.
For this kind of thing, two people must agree to avoid trouble.
After all, if new investment comes in, both of their stakes may decrease.
"No problem, it should be."
Lu Xin was stunned for a while, and then said with a smile.
He never thought about building a music platform with a huge number of users by himself.
Without the entry of large capital, this kind of platform will be difficult to compete with Internet giants like TT.
Sometimes, financing involves not only money, but also capital contacts and channels, and the latter is even more important.
That is to say, TT doesn't seem to be doing its best yet, otherwise, whether it's KK or Jing Ting, I'm afraid it will be difficult to deal with it.
Speaking of it, the time he invested 2000 million to support it is not too short, and even if it wasn't for TT Music's sudden poaching of so many record companies this time, he could continue to support it for a while.
Lu Xin asked, "What is the approximate valuation?"
"Three or four hundred million, we can discuss the details."
Zhou Huaiyong smiled wryly, "It's a bit different from what I expected."
Lu Xin smiled. He knew that Zhou Huaiyong's plan was to raise funds when the valuation was at least [-] million or more.
But the plan can't keep up with the changes, which is also impossible.
In fact, Lu Xin didn't understand why all the small and medium-sized record companies on the KK platform suddenly turned to TT Music.
After all, TT has been soliciting them all the time. He didn't agree to it before, but now he agrees to almost all of them at once, which is a bit weird.
He has arranged for Ling Xue to call Maggie Records to see if he can find out some news.
"Okay, you can arrange this matter, just let me know when the time comes."
Lu Xin thought for a while and said, he actually still has a priority, and he has to plan carefully, how to choose.
(End of this chapter)