Is it a new solution for Siba Media to “cultivate the economy” by making efforts in film and television and entering the Metaverse?

Try to get out of “idolization”

Recently, Siba Film and Television, a subsidiary of Siba Media, released a list of incomplete new films for 2022-2023. Among them, the anti-fraud drama “The Great Wall Action”, the anti-black drama “The Long River”, “The Westbound Long Song” and “The Flowing Gold”. “City” and other dramas are eye-catching. From the perspective of the content volume of the film list, this is also the most important film list released by the company since its deep cultivation of the fan economy.

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

Behind this, affected by the economic downturn of fans, Siba Media has also continued to explore new development directions in recent years. Now it is focusing on the layout of film and television content, which to some extent is also consolidating new paths for artist cultivation. Prior to this, Siba Media also officially announced the reorganization of its core business and corporate structure. Its holding company was renamed Meita Holdings and fully entered the Metaverse. It is not difficult to see that Siba Media is looking for a new development model for the company’s core artist group.

A film list that tries to break away from “idolization”

In fact, Siba Film and Television has been established as early as 2015, but in the past development, film and television content creation is not the core business of Siba Media. Until now, Siba Film and Television has produced the most influential drama series. It is still “The Legend of Yunxi”, which was launched in 2018.

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

To put it bluntly, Siba Film and Television did not show obvious planning and layout in the content creation in the past. The reason why the film list released today is so important is that the company has begun to jump out of the fans’ preferences, from the dimension of market preference. layout content.

According to Siba Film and Television’s own statement, this film list focuses on the two major directions of “main theme” and “new generation back waves”, and the realistic themes, ancient costume fairy tales, and modern cities are all popular themes in the current market. Among them, “The Great Wall Action”, as a major film and television drama of the Ministry of Public Security, also invited Huang Jianxin to supervise the production; and the original script of “The Great River Flow” was handled by Zhong Wei, the screenwriter of “I am not the God of Medicine”, adapted from a number of real anti-black dramas. big case.

In addition, despite the success of “The Legend of Yunxi”, the content layout of Siba Film and Television is still inclined to ancient costume dramas, accounting for nearly half, but these contents are not completely fairy-tale dramas. In the film list released this time, “Westbound Long Song” fits the theme of “One Belt, One Road”, “Hua Jiao” focuses on ancient business warfare, and group portraits and costume dramas have become the more focused direction of Siba Film and Television.

On the other hand, many IPs in this list come from platforms such as Yuewen and Jinjiang. For example, dramas such as “Ask the Lord, Wang Shanhai”, “My Life is Phoenix, Jiangmen Shenghua”, and “Your Call” are all from Yuewen. Best-selling works on Wen’s platform. In addition, among the main creative teams that have been announced for many episodes in the film list, Huang Jianxin and Zhong Wei have achieved good results in the industry, which can also reflect the resource connection ability of Siba Media in the industry, allowing the market to have an opinion on the final drama. Set quality has more expectations.

In contrast, Siba Film’s previous works are more “idol” content like “The Legend of Yunxi”, but in the current film list, whether it is the distribution of themes to move closer to the market, or the optimization of the main creative team, It can be seen that Siba Film and Television intends to get rid of the content creation of “idolization”. It’s just that in this process, how to integrate the artists of Siba Media with these contents requires more thinking and attempts.

The increasingly difficult “fan economy”

The homepage of Siba Media’s official website reads, “Strive to become a benchmark enterprise in China’s fan economy.” In the beginning, Siba Media introduced the model of Japanese formation groups into China, and hatched SNH48, and its influence continued to expand. The company has indeed gradually grown into a leader in the fan economy.

According to the company’s data, Siba Media has received 5 rounds of financing so far. It is understood that after the C round of financing, the valuation of Siba Media once reached more than 5 billion. That period was also the most promising time for the domestic fan economy. The climax of the outbreak was the emergence and explosion of variety shows.

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

But the sense of capital is always the sharpest. After 2018, Siba Media will not be so easy to get financing. On the one hand, developing the fan economy driven by variety shows shares the same market with Siba Media. On the other hand, the emergence of the epidemic has hindered the development of many offline activities, and the distance between artists and fans has become farther. In addition, the cultivation of variety shows was later stopped, and the market has begun to re-examine this cultivation model.

The most intuitive manifestation is that the influence of SNH48’s general election, which depends on fans’ ranking, continues to decline. Similar to the support for developing variety shows, fans need to purchase designated EPs to obtain voting rights. According to the “Dumpling List” of the rice circle during the general election, in 2018, the total amount of funds raised by TOP16 was about 26.5 million yuan, but in 2019, due to Huang Tingting , Feng Xinduo, Lu Ting, Zhao Yue and other popular players withdrew, and the TOP16 raised only 7.724 million yuan. In 2020, in order to drive fans to enter the venue, Siba Media even expanded the voting rights purchased at the same price by 10 times.

In addition to the gap in data, the later general election champions Li Yitong, Sun Rui, etc., are difficult to reach the height of Ju Jingyi’s influence, and after the model is controversial and the follow-up development of the artists is difficult to balance, the phenomenon of artists leaving the group It has also become more common, such as the departure of Huang Tingting, Feng Xinduo and others.

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

Behind this, it is actually verified that the original model is no longer suitable for the current industry environment. The more urgent problem facing Siba Media is to find a new development path to improve the “small circle of active, large circle” of its artists. layer loss” problem. It is not difficult to understand why these mass-market dramas have begun to appear in the layout planning of Siba Film and Television. But whether this model can work depends on the final episodes and the compatibility with the artists.

Will the Metaverse be the new solution?

After Siba Media fully entered the Metaverse, the company defined its three business segments as Metaverse Fan Entertainment, Metaverse Visual Entertainment and Metaverse Brand New Consumption.

Among them, Metaverse Visual Entertainment is a section that focuses on entertainment content such as film and television. Among them, in addition to the film list mentioned above, Siba Film and Television also has actions in the field of short dramas. “Please, Sister”, which was launched before, has accumulated over one million credits, “Please, Sister 2”, “Please, Huarong Girl”, “Don’t Laugh at Me Hu Wei”, “Love, Ready to Eat”, “Eat Mystery Girl”, ” Youth Glory, etc. are also projects in the company’s reserves.

Is it a new solution for Siba Media to "cultivate the economy" by making efforts in film and television and entering the Metaverse?

However, in this business sector, currently only “White Moon Reflecting the Galaxy” is officially defined as a drama that reflects the fusion of reality and reality in the Metaverse, and other content has little to do with the Metaverse. Similarly, in other business sectors, there are not many directions for exploration around the Metaverse.

For now, the biggest connection between Siba Media and the Metaverse is in fan entertainment.Previously, when its holding company changed its name to Meita Holdings, it announced that Siba Media and the SNH48 GROUP operated by Siba Media will all enter the Meita Metaverse from the date of the test launch, and purchase virtual land, virtual theaters and other women’s groups in it. The virtual assets and supporting software and hardware equipment required for the operation are set up in the Metaverse to conduct various live performances (video, XR and VR live broadcasts) that blend the virtual and the real.

During this process, Siba Media will also open a new pure virtual exclusive theater in the Metaverse to cultivate new sub-groups. Including its girl group 7SENSES and the upcoming digital virtual idol group FAF Girls (2 members) and Infinity Girls (5 members), to build a virtual idol matrix.

Of course, if these attempts can be realized, it is also expected to become a new growth point for the company. However, whether it is the popularization of hardware equipment or the construction of the entire virtual community, it will take a while, and it will be difficult to bring substantial impact to the company in the short term. This may be an important reason why Siba Media is now focusing more on the film and television sector.

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