Stuck at the time point when "Sound and Life" was launched, Mango Super Media handed over an annual report with beautiful performance.
On April 25, Mango Super Media released its 2021 annual financial report. According to the financial report, the total revenue of Mango Super Media in 2021 was 15.356 billion yuan, an increase of 9.64% year-on-year, and the net profit was 2.114 billion yuan, an increase of 6.66% year-on-year.
Compared with the difficulties of other peers in the long video, Mango TV's advertising revenue and membership growth rate last year were outstanding, and the gold absorption ability of the head's self-made variety show was still quite considerable. However, it is worth noting that the first quarter of 2022 results released in the same period did not continue the high growth, but the progress of the variety show affected by the epidemic was postponed, and there was a double decline in revenue and net profit.
"Lang Jie 2" set the highest investment amount in the industry, with a membership growth rate of 39.5%
Mango TV's Internet video business is the core main business of Mango Super Media, including advertising, membership and operator business, and will achieve revenue of 11.261 billion yuan in 2021, an increase of 24.29% year-on-year.
Mango TV Internet business revenue Source: Mango Super Media Financial Report
The limited advertising revenue of long video platforms is not reflected in Mango Super Media. According to the financial report data, the revenue of Mango's super media advertising business exceeded the mark of 5 billion yuan for the first time, reaching 5.453 billion yuan, an increase of 31.75% year-on-year. For comparison, iQiyi's online advertising services revenue was 7.1 billion yuan last year, an increase of only 4% year-on-year, while Tencent's media advertising revenue fell by 7% to 13.3 billion yuan last year, mainly due to the decline in advertising revenue of media such as Tencent Video.
The ability of self-made head variety shows to absorb gold has increased mango super media advertising revenue. According to the financial report, Mango TV developed 118 new advertisers throughout the year, and the total number of various advertising brands such as soft and wide, hard and programmatic advertising of Mango TV exceeded 1,000. Among them, "Sister Riding the Wind and Waves 2" (hereinafter referred to as "LangJie 2") has created the highest amount of investment in the industry, and the volume of advertising investment in comprehensive N-generation high-quality IP projects has increased steadily.
Western Securities previously reported statistics that there are 15 advertisers in "LangJie 2", and the investment amount is expected to exceed the first quarter. According to the forecast of Kaiyuan Securities, the advertising revenue of "Langjie 1" is expected to be 455 million yuan.
Compared with the stagnant number of members in the same industry, Mango TV members and membership revenue have grown rapidly. At the end of 2021, the number of effective members of Mango TV reached 50.4 million, an increase of 39.5% over the end of 2020, and the membership income reached 3.688 billion yuan, an increase of 13.3% year-on-year.
According to the financial report, in the past year, Mango TV has gradually strengthened channel cooperation, focused on improving the conversion rate and user penetration rate of members, and tried to customize the operation of variety members, and the head IP such as "Brother Who Cut Through Thorns" and "The Great Detective" have adopted customized operations throughout the cycle.
However, Mango TV's average monthly revenue per user (ARPU) last year was 7.1 yuan / month, down 2.9 yuan from 2020, which means that Mango TV members last year had greater promotion efforts and lower pricing, but this part of the revenue reduction was offset by the growth of the number of members.
Variety shows and dramas continue to exert efforts, and content scheduling affects the performance of the first quarter
From the content level, Mango Super Media continued to exert efforts in variety shows and dramas last year, and its performance in original content was outstanding.
Last year, Mango TV launched more than 40 self-made variety shows, in addition to "Sister Lang", "The Great Detective", "The Great Escape Room", "Wife's Romantic Trip", "Daughters' Love" and other "comprehensive N generation", including "Brother With Thorns", "Our Piping Hot Life", "Goodbye Lover" and other new original variety shows. In terms of film and television dramas, Mango TV launched a total of 170 film and television dramas last year, including 55 key film and television dramas and 84 "Da Mang Plan" micro-short dramas.
According to the financial report, Mango TV currently has 26 variety show production teams, 29 film and television production teams and 34 "New Mang Plan" strategic studios.
It is worth noting that Mango TV's performance is still affected by the cyclicality of content scheduling. In the four quarters of last year, Mango Super Media's revenue and net profit declined quarter by quarter, with revenue and net profit of 3.725 billion and 134 million yuan respectively in the fourth quarter, while the two data in the first quarter of "LangJie 2" were 4.009 billion and 773 million, respectively, with a significant decline.
Mango Super Media's core data such as revenue and net profit last year declined quarter by quarter Figure source: Mango Super Media financial report
The first quarter continued the relatively low performance of the fourth quarter. According to the first quarter report of 2022 released on the same day, the revenue of Mango Super Media was 3.124 billion yuan, compared with 4.008 billion yuan in the same period of the previous year, and the net profit was 507 million, compared with 773 million in the same period of the previous year, down 22.08% and 34.39% year-on-year, respectively.
For the double decline in revenue and net profit, Mango Super Media explained two reasons in the financial report: one is that the epidemic has repeatedly affected the progress of content production, resulting in the postponement of the scheduling of key variety shows in the first quarter of Mango TV; second, the base of the same period last year was relatively high.
According to the company's content production and scheduling plans, key variety shows and film and television series such as "Sound and Endless" and "Lang Jie 3" were launched in the second quarter.
According to the data of Maoyan Professional Edition, three days after the launch of "Sound and Endless", the cumulative playback of Mango TV reached 401 million, and the number of broadcasts and cat's eye popularity for 3 consecutive days was the first in the whole network.