New Media In China

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Talk given in Beijing in April 2009 on new media in China for a group of EU managers. Some interesting data comparing US and China web companies for data lovers.

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New Media In China

  1. China’s Web Innovations Learning from China about new media Yiqun Bo, Consulting & Research Manager | +8* | www.plus8star.com The China Media Landscape| EU-China | April 2009
  2. 薄益群 BO Yiqun Clément
  3. www.plus8star.com
  4. Cross-Market Consulting Mobile & Internet Innovation China | Japan | South Korea
  5. 27 events | 101 speakers | 3,321 members | 1,452 companies
  6. Agenda 1. Why look at China? 2. What does online media bring to China? 3. Sources of innovation? 4. Some examples
  7. 1. Why look at China?
  8. #1 market in terms of users Source: Internet users Penetration Mobile users Penetration Plus Eight Star, million % million % 2009.4 China 300 24% 640 49% US 225 73% 260 85% Japan 100 >70% 110 >80%
  9. Chinese Internet Players Enjoy Higher Margins than Global Peers Source: Operating Margin Company Operating Margin Plus Eight Star, 2009.4 Chinese American NetEase 62.1% eBay 24.3% Alibaba 39.7% Google 30.4% Tencent 45.4% Yahoo! 0.2% Sohu 38.2% Amazon 4.4% Shanda 40.4% IACI -4.3% Baidu 32.8% EA -13.3% Sina 20.2% VeriSign 7.4% Ctrip 27.7% 51job 11.2% Average 35.3% 7.0%
  10. China’s media market is catching up with the west Year 2008 US China (source: Plus Eight Star, 2009.4) Ad market (bln USD) 293.3 29.5 Ad market YoY growth 3% 15.9% Online ad market (bln USD) 25.8 2.5 Online ad market YoY growth 21.7% 60.4% Online ad / Total ad market 8.8% 8.4%
  11. Sohu: twice on NASDAQ • Changyou, online gaming subsidiary of Sohu lists in April 2009 with a market cap over 1 bln USD. • It is the first IPO on Nasdaq since November 2009 is a Chinese company doing online games • More about it on The Economist: – http://www.plus8star.com/?p=195
  12. Part 1 Conclusion 1. Why look at China? China has the world’s largest online population and is catching up with the West, sometimes even leading!
  13. 2. What does online media bring to China?
  14. 9% 49% Internet GDP
  15. China Internet/Media: Enjoying the Highest Margins Average operating margin (2008E) Note: e = Morgan Stanley Research estimates Source: Morgan Stanley Research, 2008
  16. “Mice Love Rice”
  17. Backdorm Boys
  18. Enjoy the Olympics online Time: 19:56 PV: 2,601,435 Replies: 2,649 Quote: “I am so excited about the drummers, the view is so grand that I cannot type.”
  19. MSN rainbow signature • MSN and Toyota donated to the relief efforts that took place after the Sichuan Earthquake on May 12, 2008. • 6,216,469 MSN Messenger users participated in the campaign.
  20. Internet as a channel for collecting disaster relief donations The symbol of online benediction launched by QQ, 32,754,656 QQ users participated in the campaign. Taobao.com homepage promoting the donation 41 mln RMB from Alipay and Tenpay within 10 days
  21. Grey websites and no commercial ads for Mourning Day
  22. People seeking 2.0
  23. Part 2 Conclusion 2. What does online media bring to China? Internet not only creates heroes, but is largely impacting the China’s society as well!
  24. 3. Sources of innovation? 5CTM of Chinese innovation
  25. 1. Copy 5CTM of Chinese innovation
  26. “Benchmarking” “Inspiration” “Best practice” “If I have seen farther it is only by standing on the shoulders of Giants.” (Isaac Newton)
  27. 2. China 5CTM of Chinese innovation
  28. China is learning from the West 2008| 179,800 students abroad 1978-2008| 1.39 million students 390,000 returned to China
  29. Attention Threshold = $1 billion?
  30. 3. Combination 5CTM of Chinese innovation
  31. Will it blend?
  32. Tencent (1998)
  33. Registered users
  34. Revenues 2008 (E)
  35. Profit margin (E)
  36. Market Capitalization (March 2009)
  37. 4. Competition 5CTM of Chinese innovation
  38. What happens when you have 20 YouTube 10 MySpace 5 Match.com 4 Facebook 3 Yahoo … 4 Twitter
  39. 5. Constraints 5CTM of Chinese innovation
  40. Low GDP/capita Small transactions / making millions from cents
  41. Limited advertising Alternative business models / B2B toB2C
  42. Few credit cards, Low trust Alternative payment systems, escrow system, mobile, virtual currencies
  43. 4. Some examples
  44. Lihua| Order food over IM
  45. Alimama| Ad exchange + Micro-retail
  46. Babytree| Vertical for young parents
  47. iNezha| RSS-to-IM
  48. Qifang| P2P Micro-lending
  49. Taobao| Incubating 500,000 mini-Taobao
  50. Contact Us www.plus8star.com boyiqun@plus8star.com boyiqun +81 | Japan +82 | Korea bo_yiqun@hotmail.com +86 | China Telecom & Internet www.linkedin.com/in/boyiqun + Added Value * High quality www.slideshare.net/plus8star
  51. About +8*
  52. There are more ideas outside your country than inside Tom Kelley CEO, IDEO The 10 faces of Innovation
  53. “Innovation Arbitrage” • About us – +8* | Plus Eight Star is the leading cross-market and cross-cultural consultancy in Asia. – We provide local expertise & global perspective on mobile and Internet innovation from China, Japan and South Korea to add value to and accelerate the development of our clients’ businesses. • Our services – Analysis of proven best practices and business models from Asia – Other services: executive study trips, market entry strategy, M&A advisory, partners identification, negotiation support. • Founder & CEO: Benjamin Joffe – 9 years experience with mobile & Internet in Asia – Selected among “China’s Top 100 mobile industry influencers” in 2007 and 2008 – Regularly quoted in international press and keynote speaker at numerous telecom and Internet events – Fluent in English, Japanese, French with working knowledge of Mandarin, Korean and Spanish
  54. Selected References • Adidas | E-commerce strategy for China, Japan & Korea • Bouygues Telecom | Cases studies of leading Asian Web 2.0 services and virtual worlds • Deutsche Telekom / T-Online | Benchmark of Korean mobile & Internet convergence strategies • Hemisphere | Analysis of mobile marketing best practices in Japan and South Korea (Hemisphere is a leading digital advertising agency), analysis of leading social platforms (SNS, virtual worlds, online games). • Microsoft | Analysis of Japan’s key players and market catalysts for mobile commerce market positioning in China • DeNA | Case studies of the best practices of leading social networks in China and South Korea (DeNA operates Mobile Game Town, Japan’s leading mobile SNS service) • China Mobile | Benchmark of Korean leading online communities • Sands Capital Management | Evaluation of China’s investment opportunities in social networks in China
  55. Social Contribution • Mobile Monday – Founder of the Mobile Monday forum in Beijing since 2006 (3,000+ members, 27 events, over 100 presentations). • Media – Monthly column on Asian innovation for Asian Business Leaders (one of the leading Chinese business magazines), numerous interviews in international media. • Events – Regular keynote speaker and moderator at Internet, Telecom, Media and Investment events e.g. eComm, ITU Asia, Asia Venture Capital Forum, China Mobility International Summit, O’Reilly’s Graphing Social Patterns, Red Herring Asia, Media 08 Conference, Wireless Developer Forum, Open Web Asia, XMediaLab, Mobile Monday Global Summit, etc.)
  56. Thanks!

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