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Text| Those things on the Internet

Recently, TME (Tencent Music Entertainment Group) announced the acquisition of the equity of”Lazy Ting Shu”, and it is 100%. The long audio track is changing again and it will be the first outlet in the cultural industry in 2021. From the long audio market began to blow.

In the opinion of the editor, this is actually the Internet giant. For the”collection” of Long Audio once again, Internet giants have begun to integrate resources in the industry, and the Long Audio market has entered a reshuffle period.

Like every change in history, the old and the new sent two forces, constantly clashing, one to the other.

The traditional long audio head platform represented by Litchi and Himalayan has transformed from previous user accumulation to commercial Realization; and the new faction platforms represented by TME, Kuaishou, and Bytedance are actively trying to establish a new order in the industry.

On the one hand, it is the pursuit of market and capital, on the other hand, it is the shackles of commercial realization. Even if the head platform can account for 50%of traditional video in terms of time, commercial realization may be even 10%nothing.

Is the sound market difficult to commercialize, or is it a low value?

The long audio market is chaotic, and the future is uncertain. Where is the way out?

Who is the hero in troubled times, ending the separatist regime, and dominating the world?

01 Long Audio Track:The group of heroes are separated into one group

5G, Z era, 996…this is one The era of fast pursuit, and fragmentation is the most obvious feature of this era.

Therefore, compared with graphic reading and short video, the advantages of long audio in accompanying scenes are more prominent, and the market scale of long audio industry is also expanding.

According to the”Industry Analysis Report of the Foresight Industry Research Institute”, the development of China’s online audio is condensed into three periods. From 2005 to 2011 is the era of traditional podcasting, from 2012 to 2016 is the era of mobile, and after 2016 is the era of full scenes. Each of the three stages has its own characteristics, and various audio Internet products and platforms are emerging in endlessly.

The”2020 Global Audiobook Market Report” shows:”The U.S. and China have the top two long audio market in the world, and China will become the number one in the global market in 2022.

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In addition, the”2019-2020 China Online Audio Special Research Report” (from iResearch) shows that the number of users in the long audio market in 2019 is 486 million, a growth rate of 16.8%, and the number of audio users in 2020 will reach 5.42 Billion.

At the same time, according to data from iResearch, China’s long audio market will reach 27.24 billion yuan in 2020, with a growth rate of 54.9%; it is estimated that by 2022, the domestic long audio market will reach 54.31 billion yuan .

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User needs determine the market, and the market determines the direction.

In 2020, the online audio market will be prosperous. From traditional players such as Litchi, Himalayas, and Dragonfly, Go to Tencent, Wenwen, ByteDance, NetEase Cloud Music, Kuaishou and other forces to compete in the Central Plains.

Almost all mainstream content platforms have improved the strategic position of sound-related businesses. Kuaishou has tested the kayak app, Byte has launched Tomato Listening, and NetEase Cloud Music has launched”Sound Theater”… The traditional giants are not idle yet As a result, Himalaya, Lychee, and Dragonfly have also begun to adjust the product positioning of podcasts.

Not only do it themselves, but also to compile it is common. Reading strategically invests in Himalaya; Station B acquires Maoer FM; Tencent acquires”Lazy people listen to books“…

Remind everyone that in 2014 Shanda Literature (the predecessor of”Reading Group”) It has already raised the equity of Lianren Tingshu. After the acquisition of Liaoren Tingshu by TME, 39.88%of the shareholder”Reading” will be sold to TME at a price of 1.077 billion yuan.

Why did Tencent choose Lazy Tingshu?

First of all, it is one of China’s leading audio platforms, and secondly among all audio platforms, Lazy Tingshu is one of the few The platform with copyright advantages and monetization model has massive phenomenon-level IPs, including famous IPs such as”Eternal Regret”,”Dajiang Dahe”,”Old Man and the Sea”,”White Deer Plain” and”Douro Continent”.

As early as 2019 Lazy Tingshu received hundreds of millions of yuan in financing, and the platform realized operating income of 330 million yuan. By the first half of 2020, Lazy Tingshu’s operating income reached 123 million yuan, the net profit reached 10.592.9 million, and the user scale reached 4.8 100 million.

In the field of long audio, lazy people can be said to be a chicken who can lay golden eggs.

This is Tencent The entry of such Internet giants will definitely intensify industry competition and may even reshape the market structure.

However, the traditional giants are also changing. Himalaya has been firmly in the top position of long audio; Litchi is the first to go public and become the”first domestic online audio stock”; Dragonfly FM has received strategic investment from Xiaomi.

02 Long audio, it’s a tuyere but also an opportunity

First of all, time overflow, long audio increment space Big.

The development of the mobile Internet, tracing its roots, is a robbing of user time. Whoever has the most user time has the right to speak.

According to the data released by Quest mobile, the year-on-year growth rate of the Internet’s monthly average daily usage time has dropped from 22.6%to 6.0%. In the extreme test of the epidemic in 2020, the growth figures continue to decrease, which means User duration has become constant.

Therefore, the competition for user time has essentially entered a zero-sum game. Whoever grabs more will win…

The research data of American consulting agency Prophet shows , An adult can spend 31.5 hours a day, why is it more than 24 hours?

Because there are many times a person can do several things at the same time, such as fitness or driving while listening to music, while going to work can catch fish and watch videos.Weibo. In these 31.5 hours, 13 hours were taken away by the Internet, accounting for 40%.

To subdivide the 12.5 hours of time distribution, short video accounts for 5 hours; long audio accounts for 2.5 hours, accounting for 20%…

So simply From the perspective of user duration, the audio market is still very large.

Secondly, catalyzed by the epidemic, the acceptance of payment for content has become higher.

Under the catalysis of the epidemic, everyone began to reflect on the issue of entertainment supremacy, seeking to explore the transformation of spiritual consumer products.

According to a report by iiMedia Consulting, 70%of respondents are willing to pay for pan-entertainment content, and can expect content such as comic cross talk, emotional narration, and personal growth. Among them, genre novels are the most sought after.

Again, the long-term layout of major platforms.

At the moment when traffic is king, the subdivision track is the incremental field. When the short video track is squeezed to the point where there is no room, the graphic content bonus period has passed, and the audio is undoubtedly It is the best supplement and flow reserve.

Also, hardware upgrades are also helpful.

Today is an era of highly developed sound technology. The development of audio media:noise-cancelling headphones, wireless headphones, etc., iterative upgrades, the large-scale implementation of smart speakers and car audio, all promoting long audio Moving towards full-scene,

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03″Ear climax”, sexy and dangerous

The audio platform is full of flowers, but not Denied, this industry has long been trapped in a vicious circle of regulatory difficulties, serious product homogeneity, and lack of core competitiveness. Demand is growing at a rapid rate, but it is also urgent to break the situation. Even for the old player Himalaya, expensive content and difficult profitability are long-standing pain points.

Although new players are backed by giants, their plate growth rate is slower than that of incumbent players. It is also difficult to get users from the leader.

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Dilemma 1, the industry penetration rate is low.

The long video industry has developed for 15 years, and the industry penetration rate is 77%; it took 4 years for the short video to burst, and the industry penetration rate reached 75%; while the digital audio industry lasted 9 years, the industry The penetration rate is only 8.57%.

After 2020, the”ear economy” rises, and the long audio industry feels the demand.

Dilemma two, decentralization is difficult to achieve.

The audio platform uses UGC, PGC, etc. to build a content ecology, but it has not been able to form a benign commercial closed loop.

Each platform is preaching decentralization, but in the face of benefits, the recommendation mechanism of the platform will involuntarily tilt towards the direction of greater output and greater benefits. This is also the flaw of traditional platforms. Unavoidable.

Many platforms have insufficient support for UGC content and have not incubated their own top stream anchors, and many KOL Mostly the layout of the whole platform.

Dilemma three, copyright issues are difficult to solve.

The core of the long audio is the copyright content reserve.

Even the industry leader, Himalaya is also plagued by copyright issues. According to data from Tianyancha, Himalaya has faced more than 600 copyright lawsuits. The litigants include not only platform companies such as iQiyi and Tencent, but also well-known authors and IP owners.

Unlike videos and texts, which have mature playback and review technology, audio information is not well filtered, and”voice washing” is common and confusing and easier. Almost all audio playback platforms have been complained about copyright issues.

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From Tianyancha

Dilemma four, content homogeneity, lack of innovation.

This is the fatal problem of long audio lacking market competitiveness. The rapid growth of the audio market in the early days benefited from payment for knowledge. It is precisely because of this that the instrumental content represented by Luo Ji’s thinking has accumulated a huge volume.

After the short-term rapid growth of users who pay for knowledge, they soon ushered in the ceiling of the industry. This is an obvious reaction from the capital market. IT orange data shows that in 2018, my country’s investment and financing in the field of knowledge payment reached a climax. There were 25 financing projects throughout the year, with a financing amount of 1.763 billion yuan. From January to early September 2019, the number of financing events had shrunk to four, with a financing amount of 66 million yuan.

Capital sees the future.

Dilemma five, it is difficult to realize the long audio field.

When knowledge payment is cold, it is not easy to realize audio commercialization. There are problems such as low advertising, low membership income, and low commercial realization ceiling.

The realization of long audio is limited, only knowledge payment, audio books and advertisements are difficult to stimulate users’ enthusiasm for payment. Take Qingting FM as an example. In 2018, official announcement content payment revenue accounted for more than 50%, but it is difficult to support platform profitability.

The long-term audio industry has a narrow audience and weak awareness of paying. Everyone has a consensus that the easiest platforms for realizing content entrepreneurship are WeChat and Weibo, and then short videos. The audio volume is much smaller, and the closeness between the show and the fans is not as strong as the live broadcast.

On the other hand, compared to video sites and social platforms, most audio users just”use their ears” and spend relatively little time watching the screen, so they cannot find a way to significantly increase advertising revenue.

Dilemma six, traffic peaked.

The dimensionality reduction of short videos has reduced the frequency of audio usage by users. At present, the most important content production, consumption and promotion in the long audio industry have become short video platforms. Take Kuaishou as an example. At present, the number of music anchors on the platform exceeds 1 million, and the number of live music broadcasts exceeds 200,000 every day.

Even if one of the mainstream audio markets, middle-aged and elderly people (mainly audio books) are gradually losing ground, the market is constantly being squeezed.

It is imperative to break the situation. The well-known American long audio company Spotify is a good reference. Spotify has more than one 100 million subscriptions have also grown at an annual rate of 31%, far exceeding free users, thanks to the family and student plans they launched.

At the same time, some platforms are also testing the bottom line of content. In September 2020, the Litchi APP was interviewed in accordance with the law because of the provocative content of sleep aids and the lure of many sleep aid anchors to sell vulgar and pornographic audio and video. The relevant channels were ordered to be shut down and the program was removed. Before that, litchi had already had many pornographic issues.

Concluding remarks:

Putting aside all appearances, in essence, long audio must become a mass consumption. What is most needed is the upgrading of cultural consumption and the cultivation of users’ payment habits.

Although audio, a somewhat monotonous content expression form, has lowered its commercial realization ceiling to a certain extent, the unique advantage of audio lies in its pervasive penetration.

When various giants rushed into the long audio market with their capital, they brought an oppressive growth to the original business model. The long audio cohorts stand side by side, and the”ear economy” is flourishing. (This article first publishes Titanium Media APP)