The national macro-policy creates a good environment: venture capital is pouring into the film and television industry (VC324)

Although Chinese viewers have long been accustomed to watching TV shows on the Internet, video sites have burned money to buy online rights for movies and TV shows, which is what happened in the last two years. Five years ago, the online copyright of the 81-episode TV series "Wulin Gaiden" was only 100,000 yuan. Nowadays, it has become commonplace to sell hundreds of thousands of yuan in the copyright of a TV series online. It is understood that the 50-episode "Red Dream" online copyright in 2010 has reached 10 million, and the 98-episode "Xin Hua Zhu Ge Ge" online copyright in 2011 has soared to 30 million. The upcoming "Palace 2" Online copyright has fired a sky-high price of 1 million 40 episodes of 40 million sets, quickly refreshing the record created by "New Return to Zhugege" not long ago.

"The problem of piracy on the Internet in the past has caused a huge impact on the film and television industry, but I think that the Internet has now become the driving force for the development of the film and television industry." Li Xianwen, a partner of Zhejiang Business Ventures who successfully invested in "China's first TV" Huace Film and Television In the past two years, Chinese video network companies have become one of the most popular investment fields, such as LeTV, Tudou, Youku, etc. have all been successfully listed. With the intervention of capital, this industry has sufficient funds to regulate its own operations. After going public, these companies have sufficient financial resources to purchase film and television copyrights. In addition, many channel providers have dissatisfied with the original business structure, have switched to content, and self-made film and television dramas, further promoting the development of the film and television industry.

In July 2009, the promulgation of the "Cultural Industry Promotion Plan" marked the rise of the cultural industry into a national strategic industry, and various regions have introduced policies to support the cultural industry. The country's macro policies have created a good environment for venture capital investment in the film and television industry, and many venture capital institutions have focused on the cultural industry as a focus area. In October 2009, Huayi Brothers, the "first movie", successfully landed on the Growth Enterprise Market, allowing the venture capitalists behind to make a lot of money. A year later, the "TV's first stock" Huace Movies and TV went public, and the book return of Zhejiang Business Ventures behind it was more than 10 times. Stimulated by the wealth effect, more private equity funds poured into the film and television industry.

At the same time, various localities have set up cultural industry funds. In April 2011, CCB International Cultural Industry Equity Investment Fund, the first cultural industry fund initiated by China Construction Bank with the broadcasting, film and television and publishing industries as the key investment direction, was officially launched, with a scale of 2 billion yuan and an investment scope covering In addition to CCB, cultural and creative industries such as publishing, film and television, online games, and animation are among the industry leaders of China Publishing Group and China Film Group. In May 2011, the China Cultural Industry Investment Fund, guided by a capital injection from the central government, has been officially approved by the National Development and Reform Commission, with a scale of RMB 6 billion raised in the first phase. In July 2011, Wuxi Radio and Television Group and Huaying Capital jointly established the Wuxi Huaying Cultural Industry Fund, with an initial investment of 200 million yuan and a final fundraising scale of 1 billion yuan.

Driven by capital, China's film and television industry is gradually entering a period of rapid development. In 2010, China's movie box office revenue reached 10.172 billion yuan, an increase of 63.9% compared with 2009, of which the domestic box office gross accounted for 56.3% of the total box office. It is predicted that in the next five years, China will become the world's second largest film market.

Li Xianwen believes that in the future, with the improvement of people's living standards, the upgrading of consumption structure is a major trend, and spiritual products will usher in a golden development period. The film and television industry is an asset-light industry with strong profitability and high requirements for talents. Behind the opening of many movies and TV shows, you can find the shadow of venture capital institutions.

The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting.

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