On December 16th, LeTV Music announced that it would regard LeTV Sports as a central base in 2016 and marched towards offline concerts business. It was the second time in a month for LeTV to strengthen offline music performance market after their first intelligent music space —- East Side Story D. Live opened under the organization of LeTV Music and City Dream. This time, they focused on larger scaled concerts of huge system.
The theme of LeTV was “Redefine interaction, redefine live, and redefine performance.”
Accordingly, LeTV Music would use LeTV Sports as the fulcrum, officially enters offline concert area, making full use of venues. Additionally, it allows users to bid farewell to the extravagant spending concert era through mode innovation, experience innovation and content innovation. Meanwhile, LeTV Music would integrated with the intellectual venue experience of LeTV Sports, passing through online and offline membership service. This will bring traditional concerts into Internet + Era, and establish a real O2O concert mode.
Based on the agreement, the cooperated content between LeTV Sports and Bloomage International Investment is more than pure traditional title sponsorship. On one hand, both sides will upgrade Wukesong Culture & Sports Center into a leading intelligent venue in the world. On the other hand, both sides will integrated online and offline resources and meet the needs of popular culture consumption on sports event and performance, promoting creative value-added services.
Lei Zhenjian, CEO of LeTV Sports and Chairman of LeTV Music, said, “We will innovate sports event experience, performance experience and consumer experience in mobile Internet era. We also deeply develop intelligent venue business with Bloomage, as well as improving to reach the maximum business potential of venue through Internet.”
Lei introduced that, in terms of venue content, LeTV will have more resources such as sports event, music performance, and use big data to develop peripheral products and outreach activities. Plus, they offered strong support on promotion, communication, marketing, video live and so on.
On December 10th, LeTV also announced strategic partnership with Korean LOEN Entertainment Group. Both sides agreed deep cooperation on artist management, artist training, digital music copyright and online streaming services. LOEN is one of the top three Korean entertainment planning companies. The top Korean streaming brand MelOn is also under LOEN.
In order to solve the problem of the high ticket price, low session, bad experience and little interaction in traditional performance, LeTV Music first created online paid live concert mode. Through quality content production, it successfully created Internet excellent music IPs such asLive LifeandSuper Concerts.
It is said that Wukesong Culture & Sports Center is the venue for 2008 Olympic basketball game. Its capability is 18,000 people. Current data show that its yearly use rate is 70%. In 2013 and 2014, the number of commercial activities was 131 and 152 respectively.
For performance organizers, owning venues means reducing operating costs to a large extent. Thus, companies as LeTV signed with venues and try to be performance organizers without concert organizers in the middle.
AEG Live is a world-famous music event promoter. Its business mode is operating venue and have their projects operated in their own venues. This not only reduces costs but also brings reputation to the venue through all kinds of events. As for LeTV Music, it’s a must to enter performance business. Nowadays, in terms of online video live, the price of first-class artists is around millions of yuan. Also, the price of copyright is increasingly higher and higher, which forces platforms to consider organizing on their own.
Today, as more and more enterprises enter into live music entertainment live business, what is LeTV’s opinion on this?
In the interview of CMBN, Yin Liang said, “It is not appropriate for a single company to do one service. One company cannot handle all. On the other side, when we make music live streaming, other entrepreneurial teams, content parties and platforms are also doing this, for they notice the value of live more or less. As for competition, I think it cannot be called competition. There are differences among each companies on contents. This year, we have streamed more than 300 lives. And next year, we might have more than 600 lives. And we will have global live. ”
“I need a base, a good template, so LeTV Music will not open one hundred Livehouses in the future, or copy venues around the country. Instead, we will focus on connection between online and offline experience of live, and provide a set of Internet live plans.”
Yin told us that the performances streamed by LeTV are based on user’s value. In the future, C to C live will be the trend. This is a scenario. For example, if users go to see the performance of Moxizishi (a Chinese singer), they can share it with their family and friends. VR technology is developing. If we make user experience the core, there will be many scenes you can imagine in the future.
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