Zhang Bangxin bid farewell to 20,000 employees, Yu Minhong officially opened the live broadcast with goods, and the education and training industry officially entered a new stage.
On December 28, Yu Minhong, the founder of New Oriental, appeared in the live broadcast room on time, and a three-hour live broadcast with goods pushed Yu Minhong to the front of the stage again.
So, is it a good time for Yu Minhong to transform live streaming at this time? Can live streaming carry the transformation task of New Oriental?
First of all, Yu Minhong's node of opening the transformation of live broadcasting coincided with great changes in the industry, from Sydney being punished to Wei Ya being banned. All factors indicate that the industry may decline, and at this time, Yu Minhong chose the track of agriculture, and the hardships are self-evident.
The live broadcast with Yu Minhong is the former English teacher of New Oriental, and now she has been fully transformed into a live broadcast anchor with goods. In fact, since the live broadcast with goods, the industry has not developed for a total of several years, and for a person with long-term career planning, whether this track can be passed is also unknown.
In addition, the head effect of the industry is more obvious, that is, the head anchor generally has a relatively strong bargaining power, and at the same time they have earned the majority of the industry's profits, such as Wei Ya and Li Jiaqi may bring tens of billions of goods a day, but the anchors after 10 may not add up to more than the two of them. But on the other hand, in the past, the market was relatively solidified, and resources would be concentrated on the head, and now the head just began to adjust, and the pressure to enter at this time may be smaller.
Secondly, what Yu Minhong wants to do is not just live streaming with goods, but live broadcasting platforms.
As early as November, Yu Minhong revealed during the live broadcast that New Oriental wants to set up a large-scale agricultural platform in the future, the goal of which is to integrate upstream and downstream resources, help the sales of agricultural products, transform farmers, make young farmers willing to return to the countryside, so that more left-behind children can grow up in the company of their parents and support the cause of rural revitalization.
From the perspective of vision, Yu Minhong's approach is commendable, but in terms of difficulty, it is indeed more difficult.
According to New Oriental's latest disclosed 2021 annual report, New Oriental's revenue in fiscal 2021 was 4.277 billion yuan (about 27.3 billion yuan) and net profit was 334 million US dollars (about 2.1 billion yuan), in fact, since 2017, New Oriental's primary and secondary school business revenue has accounted for more than 50%.
Judging from the current situation, if it is only a simple way to help farmers live with goods, then I think it is difficult to support the transformation of New Oriental, and the loss of such a large number of high-quality teaching resources is also a waste for the industry. However, in order to better transform and find a new path of development, some attempts are necessary.
Finally, from a personal point of view, Yu Minhong has actually been financially free, encountered changes in the industry, he could have not had to worry about the transformation, and gradually quit, but he chose the road of helping farmers, which shows that Yu Minhong still has the responsibility of an entrepreneur.
Judging from the data of Yu Minhong's live broadcast with goods, the GMV of his first live broadcast with goods was 4.604 million yuan. Compared with the GMV data of other head anchors with goods, this data is simply not on the same order of magnitude.
In this regard, Yu Minhong said that behind each failure is a greater success. This time, new Oriental's change, perhaps this is God giving us another opportunity to create a bigger industry and achieve more glory.
On the whole, whether the live broadcast industry is still a sunrise industry is still unknown, as a channel way, it has gradually entered a period of fatigue in recent years, just like many new things, it will be on fire for a few years, and then it will gradually return to flatness.
I think that at present, in the case of not being able to judge the future trend of the industry, Yu Minhong and New Oriental Agricultural Assistance Live Broadcasting as an attempt is also a new road, but if it is to carry the transformation of New Oriental, then there must be more detailed planning and feasibility of strategic transformation, because New Oriental cannot withstand more failures.