On November 24th, 2014, with the resumption of both BesTV and Oriental Pearl, the reform and reorganization of Shanghai Culture, Radio, Film and Television Group Co., Ltd. (SMG), which was launched at the beginning of the year, has finally come to an end.
The merger and reorganization plans of BesTV and Oriental Pearl need no further explanation. According to the disclosed announcement information, the reorganization of the two listed companies has three steps: absorbing the share swap, issuing shares to purchase assets, and raising matching funds.
BesTV intends to absorb Oriental Pearl, which will be converted into a share of 3.04:1, at the price of 32.54 yuan per share, and the Oriental Pearl will be cancelled after the transaction is completed. At the same time, BesTV intends to purchase 100% of the equity of Shang Shi Ying Pi by the non-public issuance of shares, 100% of Wuhai’s shares, approximately 68% of Wenguang Interactive, and approximately 45.21% of Dongfang Xijie’s shares.
In addition, BesTV intends to pass the funds to Shanghai Guohe Fund, Bank of Communications Culture Fund, Greenland Financial Holdings, SAIC Investment, Shanghai Guangguang Investment, Yangtse River Pension, China Merchants Fund, China Development Bank, China Investment Fund, and Wenguang Investment Center. Ten of the ten institutions issued targeted stocks and raised no more than 10 billion matching funds.
However, it is worth mentioning that Alibaba has had a keen interest in BesTV's directional increase of RMB 10 billion. The 21st Century Business Herald also reported on the SMG Internet Strategy Initiative: Introducing Ten Billion Billion Arrival into Alibaba.com, which was reported exclusively on September 25 this year. Alibaba Group is expected to participate strategically in BesTV's fixed-income plan, with billions of shares being invested. Elementary level.
In fact, since the beginning of this year, Ma Yun’s interest in the cultural industry has been very strong. Following the purchase of cultural China in March this year for HK$6.244 billion, on April 8 this year, the Yunxi Investment Partnership, which was actually controlled by Ma Yun and Shi Yuzhu, was reported. The RMB 6.536 billion generously bought 20% of the shares of Hua Digital Media.
However, due to relevant policy reasons, the Ali system eventually failed to participate in BesTV's 100 billion yuan increase, but for SMG, determined to inject the Internet gene, the cooperation with Alibaba will not be interrupted.
“We will have very close cooperation with Ali in the future.†On the morning of November 22, at an investor exchange meeting in Lujiazui, Pudong, Shanghai, SMG Chairman Li Ruigang expressed to the agencies below. For SMG, the reorganization of BesTV and Oriental Pearl may be just the beginning.
What Li Ruigang is looking forward to is the overall listing of future SMG: "I have said on many occasions that SMG should be listed as a whole. Now, a considerable part of SMG's operational assets have been injected into newly-listed companies and will work hard in the future. But this is not a simple matter. In terms of asset injection and profit splicing, I hope that it is an overall change of thinking, organizational structure, production model, and technical flow. In other words, the day when the overall listing is the time when the entire group embraces the Internet completely, the new platform of the listed company is to activate Internet genes, for the future."
First Financial Holding Ali Line
"The integration of data services and CBN is the focus of the next phase. It is not just BesTV's business that SMG wants to be Internet-enabled. It is an attempt to use the Internet in every sector of news, entertainment, and broadcasting." An interview in early November In the past, Li Ruigang once told the 21st Century Business Herald reporter that he had thrown a topic about the transformation of the First Financial Times.
At that time, subject to the confidentiality agreement, Li Ruigang just discussed the direction of the transformation of China Business Bank: “The current financial model of First Financial is still the traditional print media and electronic media, but in the next step in the integration of mobile Internet, SMG will have Further capital investment and strategic layout considerations. Now that the first financial is mainly news and analysis and analysis, data business is basically a blank point, but we have determined to make a breakthrough."
In fact, the reforms related to the First Financial Bureau were put into the SMG discussion agenda very early. According to an SMG report to the 21st Century Business Herald, on August 29 this year, Shanghai Media Group held the First Financial and Economic Reform Promotion Conference, announcing that First Financial Media Company and First Financial Newspaper Company would implement an integrated operation to restructure the business. Process, open up business platform, form four major systems (administrative support system, full-media production system, operation system, technical support system) and digital product center, and establish a business model covering “financial media + digital professional financial information service + derivative service†The strategic goal is to become China's most influential and competitive new digital financial media and information service group.
As time went on, news about the first financial data business began to gradually become clear. On the evening of November 21st, the same day that BesTV and Oriental Pearl announced the resumption of trading, another listed company Hang Seng Electronics issued an equally eye-catching investment announcement saying that the company and Shanghai First Finance Media Co., Ltd. (Party B) and Zhejiang Ant on the same day. Small and Micro Financial Services Group Co., Ltd. (C) and Ningbo Yunhan Investment Management Partnership (Limited Partnership) (Ding Fang) signed the Letter of Intent for Cooperation.
The parties agreed that they will use their respective strengths to seek opportunities for capital and business cooperation in the field of data services, and jointly build Hang Seng Electronics Holdings’ subsidiary Shanghai Hengsheng Juyuan Data Service Co., Ltd. (“Hengsheng Juyuanâ€) to become a leading company. Data service company.
The preliminary plan reached by the parties involved the introduction of Party B, Party C, and Party D as investors to increase capital for Hang Seng Juyuan, and the scale of capital increase is estimated to be approximately 390 million yuan. After completion of the capital increase, Hang Seng Electronics expects to hold approximately 41% of Hang Seng Juyuan, and China Finance is expected to hold approximately 29.9% stake in Hang Seng Juyuan. Ant Financial and Yunhan Investment are expected to hold 19.1% and 10% respectively. .
On November 25th, four days later, SMG disclosed to the 21st Century Business Herald reporter the further news of the First Financials' entry into the data business: SMG and Alibaba Group have initially reached a strategic cooperation intention in the fields of commercial and financial data services and financial information. . The two parties will use SMG's First Finance as their platform to leverage their industry-leading advantages in data, information, technology, research and marketing to join hands in the data services sector with huge market potential.
In fact, Hang Seng Electronics, which had previously introduced CBN, was an out-and-out Alibaba Group company. On April 3 this year, Hang Seng Electronics once announced that Ma Yun, Chairman of Alibaba Group’s Board of Directors, had spent RMB 3.3 billion to complete the acquisition of 100% equity of Hang Seng Group through its wholly-owned Zhejiang Rongxin Network Technology Co., Ltd.
According to statistics, Hang Seng Electronics was listed on the main board of the Shanghai Stock Exchange in December 2003. Hang Seng Group holds 20.6% of its largest shareholder. The shareholders of the Hang Seng Group are individuals and shareholdings are also very decentralized. Through the above transactions, Zhejiang Rongxin Network Technology Co., Ltd. will hold 20.62% of shares of Hang Seng Electronics through Hang Seng Group and become the largest shareholder. Ma Yun becomes Hang Seng Electronics. The actual controller.
In addition, among the same group of investors from First Financial, Ant Financial is formerly known as Ali E-commerce Co., Ltd., and its brands include Alipay, Alipay Wallet, Yunhe Bao, Zhaocai Bao, Ant Small Loan, and NetBank in preparation. Wait.
Ma Yun commented on the project and said: “The current society is in the process of leapfrogging from the IT era to the DT (data technology) era. Alibaba Group believes that only by establishing mechanisms and products for data sharing and improving the efficiency of data usage can we Truly enable the society to develop in a comprehensive and balanced manner in the data age."
According to the data released by Burton-Taylor, an authoritative US strategic consulting agency, although China’s financial data service market has experienced rapid growth in recent years, it still accounts for only one-thirtieth of the global market, and China’s economic status is extremely low. Commensurate. The Chinese commercial data service market is still in its infancy, lacking authoritative products and service providers, and it has great potential for development.
Currently, in the international market, the data services provided by Bloomberg are most respected and have long been used by a large number of financial institutions on Wall Street. In China, only a handful of media such as Xinhua 08 and Great Wisdom (601519.SH) are involved in the data business.
Li Ruigang stated for the project: “We are looking forward to in-depth cooperation with Alibaba Group in deep media and other media industry, breaking through the traditional data and information supply model, and laying an important foundation for the reorganization of new listed companies in the near-term business planning. ."
OTT TV: Infused with Internet Genes <br> After returning to SMG in February this year, the "Internet" was almost a vocabulary that Li Ruigang was talking about from start to finish. The media tycoon who was on the beach made his debut. Among them, it is more open to define SMG as a "new type of internet media group."
Li Ruigang said: “The mission of a listed company is to implant an Internet gene and become the starting point for the entire SMG to subvert. SMG has a strong gene for content, and today we need to implant Internet genes in traditional media groups. The company's changes, traction, push, and promote the entire SMG change."
Nowadays, SMG has banned the future of the new BesTV to Internet TV (OTT). According to the plan, nearly RMB 5 billion of this planned increase of RMB 10 billion will be invested in the Internet TV business, including RMB 2 billion for premium copyright content. The construction of the all-media cloud platform was 9.8 billion yuan, OTT TV and online video projects were 1.7 billion yuan, and the new media shopping platform was 418 million yuan.
Although BesTV is currently the world's largest IPTV operator, with 22 million IPTV users and 33 million all-in-one users, with the major changes in the external operating environment and policy environment in recent years, BesTV’s existing IPTV business is profitable regardless of revenue. It is no longer the same as the past with 60% -70% of the ultra-high growth. BesTV’s senior executives also publicly stated that the company needs to increase investment in emerging businesses such as OTT TV, making it a new core source of income.
In an earlier interview, Li Ruigang once told reporters in the 21st Century Business Herald: "IPTV is still an important source of cash and profit support. It has strong user stickiness and stability, but the advantages of Internet TV are also obvious. OTT box is very cheap, content is free, and it is also the application terminal of the Internet, and the development momentum of the latter will be more violent.Therefore, we must steadily develop IPTV on the one hand, and on the other hand, we must seize the opportunity to become an OTT TV camp. The important development force is the future strategy of the group."
However, prior to this, BesTV's OTT TV service development is more general, and the number of users currently accumulated is only about 2 million. According to SMG's internal goal for OTT TV users, 30 million monthly active users will be required in the next 3 years.
Li Ruigang said, “We want to be a changemaker in the industry. For listed companies, it is not enough to just stare at the statements. We can tolerate temporary investment, short-term returns can not be reflected, but in the long run will create maximum value for shareholders. ,this is our target."
An insider of SMG told a reporter from the 21st Century Business Herald: “The business model of OTT TV is very similar to the Internet. In the initial stage, users must be circled first and then gain commercial value through traffic flow.â€
This may also be an important reason to attract Ali before. In a sense, the resources of BesTV and Hua Digital Media are highly similar. As local radio and television, both are owners of OTT TV broadcast control integrated licenses. As for Ali, the Lynx Box layout OTT TV is undoubtedly more attractive than financial returns.
It is reported that after the completion of this scheduled increase, BesTV's OTT TV will be transformed into a direct B2C business, and the supporting fund-raising is expected to have several billion yuan to subsidize the retail price of the terminal (set-top box), and BesTV's small The red set-top box will also be separated from the telecommunications channel for the first time and will be sold online through Alibaba’s Lynx Mall and Taobao platform.
Lai style: changers in the media industry
People who are familiar with Li Ruigang once commented that Li has never been a person who sticks to conventions. This was evident when he first served as president of SMG.
Li Ruigang, who graduated from the Graduate School of Journalism at Fudan University in 1994, began his first job as a television program director at Shanghai TV Station. Eight years later, in October 2002, Li Ruigang served as the president of SMG.
“At first, I thought that I could be like a predecessor, and that I was a journalist who inherited the message and inherited the newsprint business. But history is such a wonderful thing. Now 20 years later, we have a media environment around us. There have been changes that have turned upside down," said Li Ruigang.
“The organization of traditional media is being reconstructed, and the basic platforms, infrastructure, and infrastructure that we rely on are being rapidly deconstructed and subverted. The paper media on which traditional newsprint relies, distribution channels, and radio and television on which radio and television rely. Satellites and film distribution channels are being dismantled by the Internet, and changes from the downstream will in turn affect our production methods."
The increasingly weak topic of the media industry has been a long time ago, but Li Ruigang's difference is that while he saw the crisis, he was also releasing relevant reforms to seek response. “When I first became the president at SMG, the system had not required the conversion of TV station personnel from career to corporate editing. However, we took the lead in doing so,†Li Ruigang told a 21st Century Business Herald reporter.
As the first company to launch IPTV in SVA, SMG established BesTV in 2005 and tried to launch an IPTV service in Harbin. It can be said that since then, Li Ruigang’s desire for new media and new technologies is very clear.
At the demonstration site of the Harbin IPTV project in 2006, a local radio and television leader had loudly rebuked Li Ruigang: "History will prove that you will be the hero of telecommunications, the sinner of radio and television!" But after 8 years, the outside world turned back. Looking at the situation, it was found that BesTV, which had already started in the past, relied on IPTV to make great strides. By the end of 2011, it had completed the listing by using information from its shell and radio. At present, BesTV has as many as 22 million IPTV subscribers, making it the largest IPTV operator in China.
“BesTV is a case in which traditional broadcasting and television are facing new media competition in the face of changes in the network and struggle to survive and develop. We broke through our boundaries and cooperated with telecom operators to create a never-present television transmission method and created a new one. Listed companies.†In the face of doubts, Li Ruigang responded loudly with facts eight years later.
Today, Li Ruigang is standing at another crossroads of SMG's structural reform and business transformation. Whether it is for him or for SMG, the transformation of traditional media to the Internet is not as simple as overnight. Li Ruigang said: “We are now facing a brand-new SMG, which is the new SMG after the integration of large and small texts. We have a vision: We must devote ourselves to becoming the most innovative and internationally influential broadcasting and television integrated cultural industry group in China. This is us. Expectations for the future."
"At the same time, how to give shareholders the maximum return? This is also the question we want to answer. Always think of the future with curiosity, use the execution power to become the industry's change. Always look forward to being subverted to see new things, to embrace the new Things, we can meet the arrival of a new era of media." He said.
The merger and reorganization plans of BesTV and Oriental Pearl need no further explanation. According to the disclosed announcement information, the reorganization of the two listed companies has three steps: absorbing the share swap, issuing shares to purchase assets, and raising matching funds.
BesTV intends to absorb Oriental Pearl, which will be converted into a share of 3.04:1, at the price of 32.54 yuan per share, and the Oriental Pearl will be cancelled after the transaction is completed. At the same time, BesTV intends to purchase 100% of the equity of Shang Shi Ying Pi by the non-public issuance of shares, 100% of Wuhai’s shares, approximately 68% of Wenguang Interactive, and approximately 45.21% of Dongfang Xijie’s shares.
In addition, BesTV intends to pass the funds to Shanghai Guohe Fund, Bank of Communications Culture Fund, Greenland Financial Holdings, SAIC Investment, Shanghai Guangguang Investment, Yangtse River Pension, China Merchants Fund, China Development Bank, China Investment Fund, and Wenguang Investment Center. Ten of the ten institutions issued targeted stocks and raised no more than 10 billion matching funds.
However, it is worth mentioning that Alibaba has had a keen interest in BesTV's directional increase of RMB 10 billion. The 21st Century Business Herald also reported on the SMG Internet Strategy Initiative: Introducing Ten Billion Billion Arrival into Alibaba.com, which was reported exclusively on September 25 this year. Alibaba Group is expected to participate strategically in BesTV's fixed-income plan, with billions of shares being invested. Elementary level.
In fact, since the beginning of this year, Ma Yun’s interest in the cultural industry has been very strong. Following the purchase of cultural China in March this year for HK$6.244 billion, on April 8 this year, the Yunxi Investment Partnership, which was actually controlled by Ma Yun and Shi Yuzhu, was reported. The RMB 6.536 billion generously bought 20% of the shares of Hua Digital Media.
However, due to relevant policy reasons, the Ali system eventually failed to participate in BesTV's 100 billion yuan increase, but for SMG, determined to inject the Internet gene, the cooperation with Alibaba will not be interrupted.
“We will have very close cooperation with Ali in the future.†On the morning of November 22, at an investor exchange meeting in Lujiazui, Pudong, Shanghai, SMG Chairman Li Ruigang expressed to the agencies below. For SMG, the reorganization of BesTV and Oriental Pearl may be just the beginning.
What Li Ruigang is looking forward to is the overall listing of future SMG: "I have said on many occasions that SMG should be listed as a whole. Now, a considerable part of SMG's operational assets have been injected into newly-listed companies and will work hard in the future. But this is not a simple matter. In terms of asset injection and profit splicing, I hope that it is an overall change of thinking, organizational structure, production model, and technical flow. In other words, the day when the overall listing is the time when the entire group embraces the Internet completely, the new platform of the listed company is to activate Internet genes, for the future."
First Financial Holding Ali Line
"The integration of data services and CBN is the focus of the next phase. It is not just BesTV's business that SMG wants to be Internet-enabled. It is an attempt to use the Internet in every sector of news, entertainment, and broadcasting." An interview in early November In the past, Li Ruigang once told the 21st Century Business Herald reporter that he had thrown a topic about the transformation of the First Financial Times.
At that time, subject to the confidentiality agreement, Li Ruigang just discussed the direction of the transformation of China Business Bank: “The current financial model of First Financial is still the traditional print media and electronic media, but in the next step in the integration of mobile Internet, SMG will have Further capital investment and strategic layout considerations. Now that the first financial is mainly news and analysis and analysis, data business is basically a blank point, but we have determined to make a breakthrough."
In fact, the reforms related to the First Financial Bureau were put into the SMG discussion agenda very early. According to an SMG report to the 21st Century Business Herald, on August 29 this year, Shanghai Media Group held the First Financial and Economic Reform Promotion Conference, announcing that First Financial Media Company and First Financial Newspaper Company would implement an integrated operation to restructure the business. Process, open up business platform, form four major systems (administrative support system, full-media production system, operation system, technical support system) and digital product center, and establish a business model covering “financial media + digital professional financial information service + derivative service†The strategic goal is to become China's most influential and competitive new digital financial media and information service group.
As time went on, news about the first financial data business began to gradually become clear. On the evening of November 21st, the same day that BesTV and Oriental Pearl announced the resumption of trading, another listed company Hang Seng Electronics issued an equally eye-catching investment announcement saying that the company and Shanghai First Finance Media Co., Ltd. (Party B) and Zhejiang Ant on the same day. Small and Micro Financial Services Group Co., Ltd. (C) and Ningbo Yunhan Investment Management Partnership (Limited Partnership) (Ding Fang) signed the Letter of Intent for Cooperation.
The parties agreed that they will use their respective strengths to seek opportunities for capital and business cooperation in the field of data services, and jointly build Hang Seng Electronics Holdings’ subsidiary Shanghai Hengsheng Juyuan Data Service Co., Ltd. (“Hengsheng Juyuanâ€) to become a leading company. Data service company.
The preliminary plan reached by the parties involved the introduction of Party B, Party C, and Party D as investors to increase capital for Hang Seng Juyuan, and the scale of capital increase is estimated to be approximately 390 million yuan. After completion of the capital increase, Hang Seng Electronics expects to hold approximately 41% of Hang Seng Juyuan, and China Finance is expected to hold approximately 29.9% stake in Hang Seng Juyuan. Ant Financial and Yunhan Investment are expected to hold 19.1% and 10% respectively. .
On November 25th, four days later, SMG disclosed to the 21st Century Business Herald reporter the further news of the First Financials' entry into the data business: SMG and Alibaba Group have initially reached a strategic cooperation intention in the fields of commercial and financial data services and financial information. . The two parties will use SMG's First Finance as their platform to leverage their industry-leading advantages in data, information, technology, research and marketing to join hands in the data services sector with huge market potential.
In fact, Hang Seng Electronics, which had previously introduced CBN, was an out-and-out Alibaba Group company. On April 3 this year, Hang Seng Electronics once announced that Ma Yun, Chairman of Alibaba Group’s Board of Directors, had spent RMB 3.3 billion to complete the acquisition of 100% equity of Hang Seng Group through its wholly-owned Zhejiang Rongxin Network Technology Co., Ltd.
According to statistics, Hang Seng Electronics was listed on the main board of the Shanghai Stock Exchange in December 2003. Hang Seng Group holds 20.6% of its largest shareholder. The shareholders of the Hang Seng Group are individuals and shareholdings are also very decentralized. Through the above transactions, Zhejiang Rongxin Network Technology Co., Ltd. will hold 20.62% of shares of Hang Seng Electronics through Hang Seng Group and become the largest shareholder. Ma Yun becomes Hang Seng Electronics. The actual controller.
In addition, among the same group of investors from First Financial, Ant Financial is formerly known as Ali E-commerce Co., Ltd., and its brands include Alipay, Alipay Wallet, Yunhe Bao, Zhaocai Bao, Ant Small Loan, and NetBank in preparation. Wait.
Ma Yun commented on the project and said: “The current society is in the process of leapfrogging from the IT era to the DT (data technology) era. Alibaba Group believes that only by establishing mechanisms and products for data sharing and improving the efficiency of data usage can we Truly enable the society to develop in a comprehensive and balanced manner in the data age."
According to the data released by Burton-Taylor, an authoritative US strategic consulting agency, although China’s financial data service market has experienced rapid growth in recent years, it still accounts for only one-thirtieth of the global market, and China’s economic status is extremely low. Commensurate. The Chinese commercial data service market is still in its infancy, lacking authoritative products and service providers, and it has great potential for development.
Currently, in the international market, the data services provided by Bloomberg are most respected and have long been used by a large number of financial institutions on Wall Street. In China, only a handful of media such as Xinhua 08 and Great Wisdom (601519.SH) are involved in the data business.
Li Ruigang stated for the project: “We are looking forward to in-depth cooperation with Alibaba Group in deep media and other media industry, breaking through the traditional data and information supply model, and laying an important foundation for the reorganization of new listed companies in the near-term business planning. ."
OTT TV: Infused with Internet Genes <br> After returning to SMG in February this year, the "Internet" was almost a vocabulary that Li Ruigang was talking about from start to finish. The media tycoon who was on the beach made his debut. Among them, it is more open to define SMG as a "new type of internet media group."
Li Ruigang said: “The mission of a listed company is to implant an Internet gene and become the starting point for the entire SMG to subvert. SMG has a strong gene for content, and today we need to implant Internet genes in traditional media groups. The company's changes, traction, push, and promote the entire SMG change."
Nowadays, SMG has banned the future of the new BesTV to Internet TV (OTT). According to the plan, nearly RMB 5 billion of this planned increase of RMB 10 billion will be invested in the Internet TV business, including RMB 2 billion for premium copyright content. The construction of the all-media cloud platform was 9.8 billion yuan, OTT TV and online video projects were 1.7 billion yuan, and the new media shopping platform was 418 million yuan.
Although BesTV is currently the world's largest IPTV operator, with 22 million IPTV users and 33 million all-in-one users, with the major changes in the external operating environment and policy environment in recent years, BesTV’s existing IPTV business is profitable regardless of revenue. It is no longer the same as the past with 60% -70% of the ultra-high growth. BesTV’s senior executives also publicly stated that the company needs to increase investment in emerging businesses such as OTT TV, making it a new core source of income.
In an earlier interview, Li Ruigang once told reporters in the 21st Century Business Herald: "IPTV is still an important source of cash and profit support. It has strong user stickiness and stability, but the advantages of Internet TV are also obvious. OTT box is very cheap, content is free, and it is also the application terminal of the Internet, and the development momentum of the latter will be more violent.Therefore, we must steadily develop IPTV on the one hand, and on the other hand, we must seize the opportunity to become an OTT TV camp. The important development force is the future strategy of the group."
However, prior to this, BesTV's OTT TV service development is more general, and the number of users currently accumulated is only about 2 million. According to SMG's internal goal for OTT TV users, 30 million monthly active users will be required in the next 3 years.
Li Ruigang said, “We want to be a changemaker in the industry. For listed companies, it is not enough to just stare at the statements. We can tolerate temporary investment, short-term returns can not be reflected, but in the long run will create maximum value for shareholders. ,this is our target."
An insider of SMG told a reporter from the 21st Century Business Herald: “The business model of OTT TV is very similar to the Internet. In the initial stage, users must be circled first and then gain commercial value through traffic flow.â€
This may also be an important reason to attract Ali before. In a sense, the resources of BesTV and Hua Digital Media are highly similar. As local radio and television, both are owners of OTT TV broadcast control integrated licenses. As for Ali, the Lynx Box layout OTT TV is undoubtedly more attractive than financial returns.
It is reported that after the completion of this scheduled increase, BesTV's OTT TV will be transformed into a direct B2C business, and the supporting fund-raising is expected to have several billion yuan to subsidize the retail price of the terminal (set-top box), and BesTV's small The red set-top box will also be separated from the telecommunications channel for the first time and will be sold online through Alibaba’s Lynx Mall and Taobao platform.
Lai style: changers in the media industry
People who are familiar with Li Ruigang once commented that Li has never been a person who sticks to conventions. This was evident when he first served as president of SMG.
Li Ruigang, who graduated from the Graduate School of Journalism at Fudan University in 1994, began his first job as a television program director at Shanghai TV Station. Eight years later, in October 2002, Li Ruigang served as the president of SMG.
“At first, I thought that I could be like a predecessor, and that I was a journalist who inherited the message and inherited the newsprint business. But history is such a wonderful thing. Now 20 years later, we have a media environment around us. There have been changes that have turned upside down," said Li Ruigang.
“The organization of traditional media is being reconstructed, and the basic platforms, infrastructure, and infrastructure that we rely on are being rapidly deconstructed and subverted. The paper media on which traditional newsprint relies, distribution channels, and radio and television on which radio and television rely. Satellites and film distribution channels are being dismantled by the Internet, and changes from the downstream will in turn affect our production methods."
The increasingly weak topic of the media industry has been a long time ago, but Li Ruigang's difference is that while he saw the crisis, he was also releasing relevant reforms to seek response. “When I first became the president at SMG, the system had not required the conversion of TV station personnel from career to corporate editing. However, we took the lead in doing so,†Li Ruigang told a 21st Century Business Herald reporter.
As the first company to launch IPTV in SVA, SMG established BesTV in 2005 and tried to launch an IPTV service in Harbin. It can be said that since then, Li Ruigang’s desire for new media and new technologies is very clear.
At the demonstration site of the Harbin IPTV project in 2006, a local radio and television leader had loudly rebuked Li Ruigang: "History will prove that you will be the hero of telecommunications, the sinner of radio and television!" But after 8 years, the outside world turned back. Looking at the situation, it was found that BesTV, which had already started in the past, relied on IPTV to make great strides. By the end of 2011, it had completed the listing by using information from its shell and radio. At present, BesTV has as many as 22 million IPTV subscribers, making it the largest IPTV operator in China.
“BesTV is a case in which traditional broadcasting and television are facing new media competition in the face of changes in the network and struggle to survive and develop. We broke through our boundaries and cooperated with telecom operators to create a never-present television transmission method and created a new one. Listed companies.†In the face of doubts, Li Ruigang responded loudly with facts eight years later.
Today, Li Ruigang is standing at another crossroads of SMG's structural reform and business transformation. Whether it is for him or for SMG, the transformation of traditional media to the Internet is not as simple as overnight. Li Ruigang said: “We are now facing a brand-new SMG, which is the new SMG after the integration of large and small texts. We have a vision: We must devote ourselves to becoming the most innovative and internationally influential broadcasting and television integrated cultural industry group in China. This is us. Expectations for the future."
"At the same time, how to give shareholders the maximum return? This is also the question we want to answer. Always think of the future with curiosity, use the execution power to become the industry's change. Always look forward to being subverted to see new things, to embrace the new Things, we can meet the arrival of a new era of media." He said.
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