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Tencent and Kwai live live broadcast of future battle Sandplay deduction From Orient Securities

The following is the Tencent and Kwai live live broadcast of future battle Sandplay deduction From Orient Securities recommended by recordtrend.com. And this article belongs to the classification: Securities report, Webcast.

Three changes in the rules of the game affect the pattern of the live game industry: the long tail disappears and the cost controllability increases.

In 2015, every platform increased the investment of anchor, anchor job hopping events occurred frequently, and the thousand broadcast war triggered a fierce anchor corner digging war.

The first change: the platform began to conduct legal proceedings for job hopping during the anchor contract period. Results: the default cost of anchor increased significantly, job hopping slowed down, and cost control was optimized.

The second change: Tencent and byte have a copyright lawsuit, which makes it clear that the game company has the copyright to its live game content. Results: the players who can participate in the game live track are standardized, and the long tail platform gradually disappears.

The third change: Tencent once again regulates the job hopping for breach of contract in the live game industry, and the job hopping for breach of contract will be blocked. Results: the live game platform has a longer period of binding for the anchor, optimizing the cost control, and gradually making profits.

Sandbox is a Kwai fish merger with the fast competition pattern: tiger fish flow resources or greater breakthroughs.

The fast traffic flow path is mainly short video to Kwai. Most of the Kwai game hosts are internally cultivated and have weak liquidity, but the number of anchors is increasing rapidly. If you let tiger teeth and fighting fish fight alone, according to the trend of fast host anchors, it is likely that the fast track will lead the Kwai Kwai race track in the next 35 years.

If the tiger fish can be successfully merged, the traffic ceiling will be raised: 1. The parent company Tencent has gradually built live content of tiger fish in the game for diversion, the head game unit Mau has been higher than the sum of tiger teeth + Penguin electronic competition Mau, and the increase of user end is obvious. 2. If there is an opportunity to help the tiger fish to collect the short video content of the exclusive anchor to its own platform, it can avoid the situation that the exclusive live anchor of the tiger fish made wedding clothes for others on the short video content. 3. In wechat system, both video number and live broadcast need content. For example, the content of tiger tooth and fighting fish can connect with the internal flow in the later stage, which is of great help to the attraction of anchor under Tencent system and the improvement of high-quality content of wechat live broadcast and video number.

Commercialization: the ability to cash in the live broadcast platform is stronger than that of Kwai.

The total value of gifts in Kwai Kwai game area and the value of gift per capita were lower than that of fighting fish and tiger teeth: the proportion of live streaming water in each platform accounted for a larger proportion of total water flow, and Penguin accounted for the highest proportion of electric competition, and the fastest proportion of the fastest players was the lowest. On the one hand, the cash loss of quick live broadcast is related to the younger age of users, and on the other hand, it is less related to Kwai Bang’s cash flow mode in the game area.

Tiger teeth, fighting fish cash continued to optimize: before the game live circuit cash ability is far weaker than the show circuit, and the cost side is facing the pressure of high signing fees, platform losses. In recent years, on the one hand, the richness of gift types has been strengthened, and with the operation of guilds and platforms, the diversion of games to show shows has been strengthened; on the other hand, the binding of anchors has been strengthened to curb the surge of signing fees.

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