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招商证券:《庆余年》成IP开发分水岭,维持阅文集团(00772.HK)“买入”评级

China Merchants Securities: “Celebrate the Years After” became a watershed moment in IP development, maintaining Reading Text Group (00772.HK)'s “buy” rating

格隆汇 ·  Jan 14, 2020 09:21

Recently, China Merchants (International) issued a research report pointing out that "Qingyu years" has been adapted into a watershed in IP development. The success of "Qingyu years" not only strengthened the confidence of the outside world in the adaptation of IP, but also let everyone see China Literature's advantages and market potential in the field of IP development. Through deep participation in IP development and linkage between the upstream and downstream of the industrial chain, China Literature can expand its coverage to the entire IP value chain. The research newspaper pointed out that it is optimistic about China Literature's leading position in IP development and the great potential of the IP adaptation market, and maintains China Literature's "buy" rating.

According to the data, the TV series "Qingyu year" is adapted from the original work created by China Literature platinum writer, and is co-produced by Tencent Pictures and China Literature's Xinli Media. Since it was broadcast on November 26, 2019, Qingyu years has maintained a high level of discussion and attention, and has become the most popular online TV series in 2019. According to statistics, "Qingyu year" TV series in Tencent video platform has been watched more than 200 million times a day within 30 days of broadcasting. Coupled with the broadcast volume of iQIYI, Inc. platform, the total broadcast volume at present far exceeds that of other online TV dramas in 2019.

With the continuous popularity of TV dramas, the public discussion on "Qingyu years" has also ushered in a big outbreak. According to the Baidu, Inc. Index, the peak search index and information index of Qingyu year are higher than those of other popular online TV dramas in 2019, and the number of topics is also more explosive. According to Yien data, comprehensive broadcast index, media popularity, user popularity, good reviews and viewing and other dimensions, "Qingyu year" shows an overwhelming advantage. High attention and high topic volume have also led to the high rating of TV series, with Qingyu years getting a high score of 7.9 among the 200000 users on Douban, breaking the previous low score of the adaptation of male IP TV series.

China Merchants research newspaper pointed out that huge IP value, reasonable content adaptation, high-standard production, and the deep cooperation and collaborative creation of all parties in the adaptation industry chain, such as China Literature, Xinli Media, and Tencent Pictures, are the key factors for the success of "Qingyu years."

It is reported that in the "2018 cat film Hurun original literature IP value list" ranking, "Qingyu years" ranked 21st, its author was rated as the writer with the largest number of IP. Based on the huge core fan base and the IP partnership system launched by China Literature, the TV series "Qingyu years", under the deep cooperation and reasonable adaptation of China Literature, Xinli Media and Tencent Pictures, skillfully combines the original background with modern ideas, which not only makes the TV series conform to the spirit of the original work, but also wins the general support of book fans and drama fans. In addition, high-standard production and excellent cast have also become one of the key factors in the popularity of TV dramas.

Wu Wenhui, co-CEO of China Literature, has previously said that as China Literature's important attempt in the field of domestic male band IP adaptation, Qingyu years not only follows the adaptation theme of "respecting the core of the original work" and "fan identity", but also links the original works, producers, and broadcasting platforms in the IP film and TV drama adaptation industry chain, further ensuring the quality of the adaptation.

The research newspaper pointed out that the double harvest of word-of-mouth and ratings of "Qingyu years" TV series has become an important milestone for China Literature in the field of IP development, and has also opened up a successful and useful path for follow-up IP development. Taking the "Qingyu year" IP development path as the standard, China Literature will cover the industrial chain through joint IP development to further promote IP film and television development into a new stage. Through the linkage of IP content sources, developers and distributors, China Literature will make use of Xinli Media to improve its downstream IP development capabilities. In the future, China Literature will also accelerate the development of IP in different media platforms and vertical fields of entertainment, and further create super IP to maximize the value of high-quality IP.

The translation is provided by third-party software.


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