Xiao Yi|, FM COO of Dragonfly FM, the forefront of the frontline: The repurchase rate of audiobooks is surprisingly high

Audio-book synchronization has become a popular trend in the audio reading industry.

Today, Dragonfm announced a strategic cooperation with Zongheng Literature, which will exclusively open the priority book selection rights of 1,000 works for Dragonfm, and at the same time, the works will be distributed to the Panda Reading App under Zongheng Literature after being produced into audio books by Dragonfly FM, forming a two-way cooperation.

Dragonfly fm coo Xiao Yi said that audiobooks are the category with the highest repurchase rate in Dragonfm paid audio, although Xiao Yi did not disclose the specific number of repurchase rates, but in an interview with 36Kr, Xiao Yi said that the current repurchase rate is absurdly high, this value exceeds expectations and estimates, and he has never seen such a high number when working in the video industry before.

According to a report released by Ai Media Consulting, the size of China's audiobook market reached 3.24 billion yuan in 2017 and is expected to exceed 7.8 billion yuan by 2020. At present, the domestic audio market has shown a rapid development trend after 15 years of user education.

More and more audio platforms and copyright institutions are pouring into the audio reading market. Zhang Yunfan, CEO of Zongheng Literature, introduced that in the future, more and more film and television works adapted according to IP will first land on the audio platform in the form of audio books and radio dramas, and online works will also make sound attempts before publication to test market acceptance in the form of content payment or advertising. At the same time, Xiao Yi said that audio-book synchronization has become a popular trend in the audio reading industry. Before cooperating with Zongheng Literature, Dragonfm has cooperated with several copyright owners such as Chinese Online and Palm Reading Technology.

At present, Dragonfly fm has 300 million users and 12 million daily active users, and its main profit models are advertising and marketing, cooperation with operators, content payment and fan economy. Among them, the paid business is its main source of income, Xiao Yi said, Dragonfly fm's paid business accounts for more than half of the monthly income, and it is growing.

At the same time, Xiao Yi said that at present, the payment of dragonfly fm is distributed in a "dumbbell style", and the left side is a high-knowledge, high-quality, high-income group, they will consume some high-end customer orders; on the right is a group of people with more sufficient time, such as its company's security guards and cleaning aunts, they will make small consumption, but the overall consumption level is not lower than the left part, and this consumer group has a very strong desire for online literature.

When asked if he intends to grab the first stock of domestic audio listing, Xiao Yi replied to 36Kr, and the entire audio industry has reached a special cycle, whether it is Dragonfly fm or Himalaya are seeking to go public or further pull business opportunities, in the next one to two years will choose the right time, the right target market to list. As for who comes first and who comes after, we are not too concerned about this matter, Dragonfly fm is still very different from other platforms, we emphasize the quality of content more, do not blindly pursue more content, may other platforms emphasize more, in doing UGC.

Xiao Yi said that the different ways chosen by Dragonfly FM and Himalaya will also affect its target market, and domestic, Hong Kong stocks and US stocks are all possible, or it depends on whether the market's assessment of the company's value is in line with expectations. At present, neither dragonfly fm nor Himalayas has been decided, but it will not make everyone wait too long.