The play of the currency circle is extending to the rice circle (fan circle).
From the stigmatized star-fighting family to the rice circle culture gradually accepted by the public, the star-hunting star has gradually evolved into a trend of the times. When people realize that the fan economy is actually a cake with huge driving force, purchasing power and economic strength, everyone wants to take a bite.
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SM has been in the Korean entertainment industry for 20 years, and the Korean entertainment industry market is constantly being divided by emerging brokerage companies. At the same time, South Korea temporarily lost the fat of the Chinese market.
From the top of the list of Korean entertainment industry, SM's net profit has fallen to the third place in the rankings in 2018. More data shows that since November 2018, SM's share price has fallen by 43%.
Can the SM currency really help SM stabilize the first throne? When the rice circle encounters the currency circle, will SM make the rice circle a new flow pool for the currency circle?
SM officially announced new business, fans:
“Can you care about my love beans first?”
SM is a unicorn in the Korean entertainment industry and one of the top three entertainment brokers in the South Korea's largest pillar industry entertainment industry.
Since 1995, SM has been working on the idol market. In the more than 20 years of deep cultivation in the Korean entertainment industry, SM has made idol culture a complete industrialization. The mature love bean selection and cultivation system has allowed SM to hatch a lot of top love beans.
From the early generations of idol groups HOT, Dong Bang Shin Ki, mythology to Super junior, Girls' Generation, EXO, f(x), and other people's well-known traffic such as Xiaosheng Luhan, Wu Yifan, Huang Zikai… most of these famous traffic stars and groups, Shaped by SM.
SM is connected to both ends, one side is a steady stream of high-quality idol resources, and the other side is fans who pay for the beans all the year round.
Unexpectedly, this incident has not yet shaken the currency circle, but it first detonated the resentment from the rice circle.
SM's new business decisions without warning are unpleasant for fans. In the eyes of fans, SM is not focusing on artist management, but is doing some “side jobs” that are not related to responsibilities.
On the same day, the topic “SM will issue its own currency” was ranked 12th on the Weibo topic list. Under this topic, Tucao SM’s comments were highly praised.
Some people vomit SM. Regardless of the artist’s behavior, the sideline behavior can be “confusing behavior reward”; some people hope that “SM can do less moths and more love beans”; others think that “SM is getting more and more floating, This is to leave Korea to be a country."
In the Korean local media IT Chosun report, Joo Sang-sik, director of the CT-AI lab of the Korean entertainment giant SM technical department, revealed the deeper reason: the purpose of launching cryptocurrency and building a blockchain network is to respond. Shareholders protest and boost share prices.
Behind the selection of the currency: SM Empire goes downhill
For a long time, SM was hailed as the SM empire, which is derived from the management of a large artist system behind SM.
In addition to the idol-loving group, SM's plates also manage a variety of professional performers such as singers, funny artists, athletes, actors, and models.
The prosperous entertainment industry has given SM a high revenue. According to statistics, in 2017, SM's album sales once accounted for a quarter of South Korea's annual album sales, ranking first in Korea.
The word "Imperial", in addition to indicating that the SM family is big, also implies that SM wants to plough all the ambitions.
SM's current business empire has a wide range of business. In addition to cultivating entertainers, SM has also brought commercial maps to the fields of technology, catering, and life. SM, AI, 5G, food and beverage, etc., such as SM F&B , SM C&C's travel agency, The Celebrity magazine, supermarket SUM market, etc.
But it also adds to the shack between the fans and the brokerage company SM.
"SM is not known as a sideline business too much, anyway, the most unscrupulous sideline is love beans." Some fans are resentful about SM's shift of focus, asking SM to manage artists first, don't think about doing business.
The contradiction between the triangle relationship between fans, Aidou and the brokerage company is a difficult problem that has existed for a long time and is difficult to eradicate. Although SM dominates the Korean entertainment industry, SM's decision-making often causes fans to criticize. The brokerage company has become the target of fans for their love of beans and crusade.
When the domestic entertainment industry system has not been perfected, many trainees choose to go to Korea to debut, SM is also the first choice. However, SM's strict terms for artists have also made many love beans choose to leave, tearing their faces and returning to China.
From the earliest Han Geng to Lu Han, Wu Yifan and Huang Zikai, most of the love beans that went out to sea finally chose to cancel the contract with SM. The reason is that they are unbearable to SM to treat the artist's economy and resources.
In fact, not all of SM's sideline businesses are profitable. Recently, SM F&B was questioned by KB Asset Management: “The wineries, resorts, and restaurants businesses that are not related to the industry in California are harming the interests of shareholders,” and SM F&B has also exposed a cumulative deficit of 21.1 billion won (about 122 million). RMB), there has been a huge dispute between SM and shareholders on whether to continue to operate the sideline.
In the face of shareholders' doubts, SM still insisted on continuing operations and rejected shareholders' proposals to enhance corporate value. According to money today, SM's share price fell 6.78% on the day due to rejection of shareholder proposals. According to Businesspost, investors were very disappointed with the response letter from SM to the asset operations submitted by shareholders.
There is data showing that the company's share price has fallen by 43% since November 2018. SM's performance is not as bright as it used to be. According to data from 2018, SM has reached 612.2 billion won in sales, ranking first among Korean brokerage companies; but in terms of operating profit and net profit, SM is no longer seated on the throne, with 46.6 billion won and 23.4 billion respectively. The South Korean won ranked second and third.
The decline in performance is also closely related to the international situation and policy environment.
According to statistics, in the international market, Japan and China were the main sources of SM revenue, bringing 25% and 12% of revenue to SM. After the introduction of the Korean order, SM is gradually getting out of the fat Chinese market.
"The main reason is to limit the number of Koreans. Otherwise, the probability of a group with half of South Korea and South Korea's limited business capacity will be sucked up by the Korean group." Some analysts believe that under the Korean stipulation, there are fewer channels for the promotion of Korean Beans in the Mainland. Most of them only promote activities in Hong Kong, Macao and Taiwan, and this creates new opportunities for the rise of domestic idol groups.
The Korean boom star has gradually been replaced by local idols, which is exacerbating SM's current predicament.
One of the appearances of the weakening of the Korean pop idol is that some of the new regiments launched after the restrictions on the Koreans have hardly divided too many Chinese markets.
“Few companies can push two or three groups at the same time. Large companies like SM can only cultivate one in three or four years.” A person who has long been concerned about the Korean entertainment industry believes: “Now everyone’s orientation of love beans is changed. The operation of SM is also a bit of a feeling of not keeping up."
The culture of the rice circle has changed from "far view,
Don't bother " to "My love beans, I am the master"
When the Korean Wave was blocked by force majeure, the local love beans ushered in the golden age of development. I can't catch up with the fans of the Korean New Group and start looking for wall and meal replacement in China.
The domestic rice circle culture has risen. From "Idol Trainee", "Creation 101" to "Youth Have You", the draft is coming to the forefront. From generation to generation, the Chinese native Aidou debuted with the show, and the whole people made stars and pursued the star movement.
How much energy can a fan economy have? In fact, fans are unambiguous in the matter of spending money for idols.
In the true sense, the first national civil star chase movement may be traced back to the super girl in the summer of 2004. The whole people used the form of sending text messages to participate in the public selection, so that the people saw the public driving force from the fan community for the first time.
Now 15 years later, the main force for calling Aidou has gradually shifted to 95, 00, and the rice circle has evolved a new star-raising model.
Sheet metal is a big normal in the current rice circle. In the past, people do not necessarily need to pay a lot of real money for idols. Nowadays, not only does voting require sheet metal, but after Aidou’s successful debut, it maintains the flow of love beans, and it is also the big head of the rice circle.
Traffic is the data-based expression of the influence of stars in this era. At present, sales such as Baidu Index, Weibo data, and various third-party lists and endorsements are the key factors for measuring the popularity index of love beans and the quality of fans. Therefore, the rice circle is also keen on manufacturing data. From the list, the evaluation, and the data are all organized by the fans of the rice circle, and they are in an orderly manner.
"This is a very deformed flow manufacturing. Many times the love of the country is not high, as long as the popularity is strong, it is the most direct form that can help the flow of love beans." A special powder domestic idol circle The girl in the rice circle told the Odaily Planet Daily that in order to love the data of the beans, it is not uncommon to see the sales of the gold, the “moving” and the sales of the slogans. It’s politically correct to pay attention to the true gold and silver, and the stars that are not financially "White 嫖".
In addition to the popularity behind the traffic, there are fans' repeated purchasing power. The sales of the first issue of the fashion magazine Red Show Weekly is a very straightforward example.
On August 23, Red Show released the first issue of the electronic magazine. The theme of the issue was the recent star of the online drama "Chen Qing Ling". During the period, due to too many people buying, the sales page server of Hongxiu Electronic Journal collapsed for three days and was temporarily removed. Two weeks later, Hong Xiu announced the first electronic magazine record, with a total sales of more than 990,000 copies, with cumulative sales of nearly 7 million yuan.
The driving force of the fan economy has revived the dying paper fashion publication. In addition to Hong Xiu, there are not a few electronic publications that flow through the small-scale goods, such as the publication of Zhu Yilong, Bai Yu’s “Love Bazaar” for a love letter to the town’s soul girl, and Li’s first sale with a sales volume of 2 million. Electronic magazine "Fashion L`OFFICIEL"…
The mature business of Korean brokerage companies has always been around the role economy. According to the statistics of the Korea Trade and Investment Promotion Agency, as early as 2016, the Korean star IP derivatives industry was about 75 billion won.
SM's business is also centered on its own idol resources in the field of idol-related commodity markets, from album recordings to concerts, meeting meetings, to the star IP perimeter, endorsement products, fashion apparel, etc. The rice circle girls are gold-plated Aidou IP derivatives.
"In the past, although we chase stars, we also pick up and send planes, but we always adhere to the sense of distance. Nowadays, different people are pursuing the feeling of participation in my family's love of beans." Since 2008, I have been chasing the Korean group. The rice circle girl Xiao Tong actually felt the evolution of the star-catching culture.
The whole media has given a point in his report: Today's fan base is far more loyal and control-like for idols than the "pre-digital era."
A few days ago, Yang Mi’s fans smashed Jia Xing, and the online and offline alliance boycotted Yang Mi’s self-produced drama. He believed that the shoddy drama would affect Yang Mi’s acting career.
This reflects that fans are no longer satisfied with the mode of relying on the evaluation to protect the love beans. Fans are hoping to get the decision-making power of Aidou's brokers and arrange better performing arts choices for the beans from their own perspective.
With blockchain tokens, what can fans and love beans do?
In fact, the currency that SM will issue this time is not a national currency that challenges the sovereignty of the country's legal currency, but a circulation cryptocurrency (voken) based on the blockchain.
In a media interview, SM publicly stated that his goal is to develop a blockchain network that allows fans to participate more in the entertainment ecosystem through the use of cryptocurrency to invest in artists: “The blockchain can serve as a connection between virtual worlds and reality. The best tool in the world. The goal is to create a model that will allow artists and fans to win each other."
In the first issue of Xiaoyan in 2019, Gao Xiaosong explained the possibility of blockchain technology in the future content production industry.
He cited the entertainment industry as an example: “There is a pyramid in the entertainment industry. In fact, only 20% of fans can spend money. Usually, 1% of the fans at the top of the pyramid spend 80% to 90% of the money.”
Gao Xiaosong once thought that the particles of the past data are too coarse. It is very difficult to measure the contribution value of individual fans in the star and to give back to the fans according to the contribution value.
For example, Weibo, which has 42 million fans, helps promote and promotes the promotion of 42 fans to Weibo. It is very simple to distinguish the promotion contribution between them. However, Weibo, which has 42 fans, helps promote and promote the promotion of 39 fans on Weibo, which makes it difficult to measure the contribution of value.
The addition of a token helps to measure and record very subtle contributions.
This is indeed the case. For fans of a large number of real money and silver stars, there is currently no perfect evaluation system to improve their weight. After adding the weights, it will also help the brokerage company to increase the fan's stickiness through different setting modes in the future sales of surrounding goods, and play a role in solid powder.
"I hope that after joining the blockchain, I can record the contribution of my love to the beans in a way that cannot be tampered with. Later, when I appear in some tickets or offline activities and surrounding goods, I can use it more than normal. Fans who love power generation have a higher weight.” Xiao Tong is very supportive of such applications.
In addition to being able to contribute value to fans and give weight to different fans, another coin-linked star that is common in the market is to provide exclusive benefits for fans who purchase tokens, such as redemption and artist’s time alone. Exclusive events, rare items, etc.
In addition, we may still be able to think farther. For example, in the future, the issues related to the love of the new bean, the debut of the love bean, the order of the love beans, etc., can be placed on the blockchain, and the fans vote through the token to make a partial broker decision of the bean. Give it to fans and market decisions.
For example, the popular AKB48 women's group in Japan used the fans to buy CD votes to determine the popularity ranking of AKB48 group members, in order to determine the recording line of the next single. At the same time, each album is given a handshake or a photo coupon, which is a close contact between fans and Aidou, and the sales of peripheral products and CDs.
This type of idol business model proposed by AKB48 is ultimately possible through tokens.
Using the blockchain method to vote, can also solve the pain points of data fraud to a certain extent. Whether it is the voting of the website or the draft of the draft, data fraud is a hot topic of tearing apart from each other.
"Who the organizer wants to hold, he can directly add his personal data directly, resulting in the ranking data is not true." Xiao Tong believes that the current voting process is very deep and urgently needs to be rectified.
If the blockchain token mode is used, each ticket is visible on the chain, and at least the voting process can be made public and transparent.
The coin circle did not tell the story of success, will SM be made?
In fact, the above methods are not just in the imagination. As early as the first two years, there are many projects that tell similar stories.
In addition to the vision of reshaping the entertainment economy and IP realizing, the biggest role of star IP is to endorse the currency behind it.
However, these projects are mostly fleeting fireworks in the bull market. There are very few real-world economic models and the relationship between fans and love beans.
In a series of projects based on a single star IP coin, ENT has been a huge force, want to become a universal payment method for the entertainment industry, let the business activities of the entertainment industry involving fan economy run based on ENT.
At that time, South Korea's top female group T-ara had released its exclusive "T-ara coin" in Korea based on the ENT main chain. Fans who bought "T-aracoin" can use the coin to buy all the T-ara singing. Meeting, surrounding. Not only that, BIGBANG captain Quan Zhilong also added ENTcash ticket purchase window in two concerts held in the Netherlands and Germany, and made a small-scale payment attempt.
In addition, ENT said in the promotional materials that due to the Running Man captain Jin Zhongguo platform, ENT also got the name "Running Man Coin", which is now open for online trading. The actor Huang Jingyu’s birthday party at Iqiyi Live is also run by "Running Men's Coin". ENT" is an exclusive title sponsor.
Even with so many star IP blessings, ENT can't escape to zero. Today, ENT has also fallen from the highest point of nearly 2 yuan to nearly 7,000 yuan, and the trading volume is also very poor.
Of course, in 2017, there was a wave of celebrity time trading. Such as seconds, e seconds, and so on, celebrity time trading platform models emerge. In these time trading platforms, there are very few people who really go through the time of redemption and celebrity solitude. Most of the trading venues that sell celebrity time have become the world of speculators speculation and wool.
Returning to the rice circle, an idol needs to go through a period of 5 to 6 years from the trainee to the real debut. In the process, the idol is gradually accumulating his popularity and fan resources. But whether or not the beans are debuted does not depend on the fans, but is determined by the rhythm of the brokerage company.
In addition to the true feelings of supporting the love of the beans, can fans directly participate in the decision-making time of the love beans?
It is worthwhile to imagine that after SM issued the tokens, the group of investors facing the fans was a fan of the rice circle, who bought and supported the value of the token. In other words, future fans will likely be more involved in the decision-making of star brokers.
With the tokens, the era of "fans have the final say" seems to be close at hand. In the future, fans will contribute more to the love of beans, purchase peripherals, performance tickets and crowdfunding.
But this is not an easy task, and the economic company still determines how much power it will devolve. If the rights are large, it will easily affect the business and idols. The rights and interests will be small and the fans will not buy them.
At present, SM has not announced the specific terms of the currency. It is still unclear whether there will be fans to pay the bill, but the model of the star IP+ blockchain will inevitably be driven by the IP value and gain a lot of attention.
The SM hand is a good business that makes a steady profit, that is, earning a full face, nominally expanding the way for fans to invest in new beans, and actually can create a wave of heat and financial resources.
When the entertainment giant SM sends money, it is the arrival of the "fans" era or another knife, it will be time to test.
文 | 昕楠
Produced | Odaily Planet Daily (ID: o-daily)
Original article; unauthorized reprinting is strictly prohibited, and violation of the law will be investigated.