Per reporter: Du Wei Intern Li Jianning Per reporter: Dong Xingsheng
The covid-19 epidemic has put the entertainment industry through the test of "ice and fire": on the one hand, the advantages of online entertainment such as video websites, games, and live broadcasts have been focused and amplified; on the other hand, offline entertainment such as movies and performances has been hit hard.
From the perspective of the entire entertainment market, the "2020 Great Cultural and Entertainment Circuit Investment and Financing Data Report" shows that in 2020, there were 298 financing incidents in the domestic entertainment track, down 7.5% year-on-year, and the total financing amount was 73.8 billion yuan, down 33.7% year-on-year. What are the opportunities for investment and financing in the entertainment track?
It is gratifying that although China's film and television industry has been greatly impacted, it has quickly topped the world box office after resuming work, allowing everyone to see the resilience and vitality of China's film and television industry, and other offline entertainment is also taking advantage of the situation and seeking new development opportunities. The entertainment industry has always had its own market and value, and the public's demand for entertainment and spiritual life is just needed and increasingly strong. In the eyes of investors, what is the new increase in the entertainment industry? What are the new tracks with great potential?
At the 4th China Film and Television Capital Summit to be held on June 11, Yan Yan, founding managing partner of SAIF Asia Investment Fund, Wang Ran, founder and CEO of Ekay Capital, Zhang Yu, investment partner of Sequoia Capital China Fund, and Cui Zhifang, managing director of Hony Capital, will unlock new trends in investment in the field of big culture from multiple dimensions.
Yan Yan, who has passed the age of ear obedience, is the "old qualification" among venture capitalists. He has been in the venture capital circle for more than 20 years, known as the "godfather of investment", and no one in China is unsurpassed.
Prior to founding SAIF, Yan Yan was managing director and director of the Hong Kong office of aig Asia Infrastructure Investment Fund from 1994 to 2001. From 1989 to 1994, he worked as an economist at the World Bank headquarters in Washington, D.C., as a researcher at the Hudson Institute, a prestigious think tank in the United States, and as a director of strategic planning and business development for the Asia-Pacific region at Sprint International Corporation.
Yan Yan Image source: Per Jing Data Chart
In the past 20 years, the pattern of China's equity investment market has undergone tremendous changes, and mainstream institutions have continued to change, but The Saifu Fund, which yan Yan is at the helm, is an evergreen tree in the industry. At present, it manages investment funds with a total scale of nearly RMB6 billion and US$4 billion, covering consumer products and services, technology industry, media industry and so on.
Digital China, COFCO I Buy Network, 58 Tongcheng and many other commendable classic investment cases are from Yan Yan's hand, and his personal views and remarks have also frequently ignited the market, and are regarded as a guideline by the industry juniors. I still remember that in June 2018, film and television companies faced a tide of capital decline, and when many people thought that the profits were clear and the recovery was coming, Yan Yan said bluntly: "Be prepared, the worst time has not yet come." ”
His professional and cold understanding, like a cooling agent, is particularly valuable to the rational development of the industry. Sober, sharp, and to the point, it is Yan Yan's consistent style. How does he view the investment outlet of the entertainment industry? Capture well-known players in a segmented track? At the 4th China Film and Television Capital Summit, Yan Yan will give a wonderful speech.
Ran Wang, who holds a bachelor's degree in economics from Harvard University and an MBA from Harvard Business School, founded EKay Capital Limited in 2000 and prior to that, worked for JPMorgan Chase & Co. and Goldman Sachs.
Over the past 21 years, Yikai Capital has focused on the three major industries of TMT, consumption and health, and has always stood at the forefront of China's new economic development, and is China's leading investment institution focusing on the upgrading and restructuring of new economy and traditional industries. In the past three years, eKay Capital has raised more than 100 billion yuan in financing for clients. In the investment sector, YiKai manages a US dollar fund and a RMB fund with total assets under management of more than 3 billion yuan.
Wang Ran Image source: Courtesy of the interviewee
Ran Wang has more than 20 years of investment banking experience, and he has personally led the team to serve customers including Microsoft, Siemens, Hunan Radio and Television, Jiangsu Radio and Television, Huayi Brothers, Bona Pictures, Pony Bentteng, Sina, Shanda, pplive, Happy Buy, etc. In China's capital market, the new economy, especially in the media and entertainment industry, Wang Ran has a wide range of influence.
At the end of 2018, Wang Ran bluntly said that the film and television industry has entered a cold winter, and the future will accelerate the reshuffle, and the number of film and television companies will be greatly reduced, triggering extensive discussion. The ensuing 2019 further confirmed Wang Ran's judgment, with capital withdrawal, project postponement, crew suspension, and many actors having no drama to shoot. To make matters worse, in 2020, the film and television industry was again affected by the new crown epidemic, and as the epidemic gradually improved, it showed a slow recovery trend.
Where will the film and television industry, which has undergone several hardships, go? From the perspective of investment direction, what kind of changes and large consumption evolution will occur in the film and television industry in the future? And listen to Wang Ran's interpretation and judgment at the fourth China Film and Television Capital Summit.
Zhang Yu, who was the editor-in-chief of the Chinese edition of Vogue, graduated from the Law Department and the Department of English Language and Literature of Peking University, and has an MBA degree from the University of South Australia, was once one of the most "powerful" women in the fashion industry, known as the "fashion witch".
Prior to vogue, Zhang Yu was the editorial director of the Chinese edition of Elle, the editor-in-chief of Marie Claire's Hong Kong edition of Marie Claire, the associate publisher of the Hong Kong-language fashion magazine b international, and the founding executive editor of the Hong Kong-language newspaper Hong Kong imail, and has written for many English-language publications.
Zhang Yu Image source: Courtesy of the interviewee
Under the supervision of Zhang Yu, Vogue has not only become one of the most influential fashion magazines in China, but also successfully promoted many Chinese models to the world stage.
In February this year, Zhang Yu, the "female devil of fashion", started another new journey - cross-border into the capital circle and joined Sequoia Capital China Fund as an investment partner. As an investor in the new consumer sector, Zhang Yu will focus on the fashion, lifestyle and entertainment consumer sectors, supporting a new generation of Chinese creative brands and international brands seeking development in China. Sequoia Capital will also leverage Zhang Yu's influence in the fashion industry to further expand its investment in the field of fashion consumption. Why does Zhang Yu have such a big cross-border idea? How does she see future investment opportunities in the entertainment industry? Come to the 4th China Film and Television Capital Summit to hear what kind of new ways of making money and new scenes this new investor will provide to stars and directors.
Shang Shi Pictures, Stx Entertainment, Wanda Pictures, Lemon Meng Pictures... Behind these well-known film and television companies in the industry, there is a common investor - Hony Capital. Founded in 2003, Hony Capital, with a management scale of more than 90 billion yuan, is one of the earliest private equity investment companies to enter the film and television culture industry, and has invested more than a dozen projects so far covering eight core areas in the field of culture and media.
As the Managing Director of Hony Capital, Choi Chi Fong has been investing in the cultural and Internet sectors for 13 years, responsible for investment in the cultural entertainment and sports sectors, and managing the Hony Cultural Industry Fund. With rich experience in the entertainment industry, Cui Zhifang has played a key role in establishing and developing Hony's investment layout in the cultural field, and has invested in a number of industry-leading enterprises in the fields of publishing, film and television, new media, animation, games, etc. At present, he also serves as a director of Stx Film and Television Group, Lemon Meng Pictures and Qianqiu Age.
Cui Zhifang Image source: Per-warp infographic
Cui Zhifang is an old friend of the China Film and Television Capital Summit. She pointed out at the first summit in 2017 that too many people in the film and television industry are rushing to the outlet, but time has proved that the investment in the film and television industry cannot use the investment method of the outlet industry, and it is necessary to have a rational investment concept, otherwise it is possible to bump into the "outlet" and also to the "muzzle of the gun".
In 2019, at the third summit, Cui Zhifang said that although content creation seems to have encountered the cold reception of capital because of uncertainty, in the next 5 to 10 years in China, it is still a relatively golden era of content creation, no matter what content category creation, it is the investment theme that Hony Capital has long been concerned about.
The fourth China Film and Television Leadership Summit once again ushered in Cui Zhifang, who will deeply analyze the new path of Chinese film investment in the future.
Daily economic news