Tencent Video and Youku's Battle for Digital Collections

You don't know, Tencent Video has released digital collections again.

On May 15, Tencent Video released a digital collection of Q-version images of the characters in the TV series "Let's Try the World" - the male protagonist Hei Fengxi/Feng Lanxi and the female protagonist Bai Fengxi/Feng Xiyun. The hero and heroine of the play have double-sided identities in the story, and the collection reproduces the scene where the two are constantly wandering in the rivers and lakes and temples, shining brightly.

This collection is officially authorized by the TV series "Let's Try the World", and it is the only release of Tencent Video, with a limited edition of 5,000 pieces, including 2,500 pieces for the Q version characters Hei Fengxi/Feng Lanxi and the heroine Bai Fengxi/Feng Xiyun , the price is 29.9 yuan, each account is limited to one purchase, and the collection does not support transfer for the time being. Tencent Zhixin Chain provides blockchain underlying technical support for the issuance and trading of digital collections.

Coincidentally, at 0:00 on May 17, Youku App launched the cultural and creative digital collection platform "Squid", which is another layout of Ali Entertainment for digital collections.

On the "Youku Video App-My" page, you can see the entrance of "Squid Objects Digital Collection". There are currently three digital collections on the Squid Object platform for sale, namely the intangible cultural relics "Beauty Picture", "Ribbon Picture" and "Yutang" Wealthy Twin Swallows", the three products will go on sale at 12:00 on May 18, May 19, and May 20 respectively. The three collections are limited to 2,000 copies, and the price is 19.9 yuan.

According to the official poster, "Squid Object Data Collection" will distribute a permanent limited digital collection of "Squid Object Origin Badge" for free to the first 5,000 registered users who have completed real-name authentication. In addition, in key festival activities on the platform, users will have the opportunity to obtain high-quality digital collections of traditional cultural intangible cultural heritage and cultural museums for free. The light raft chain provides underlying technical services for the distribution of squid digital collections.

The layout of the video platform is accelerated, anddigital collections become a new way of cross-border entertainment IP

Prior to this, Tencent Video has released a variety of digital collections. On the "Tencent Video app-Personal Center-Interest Center" page, you can see the entrance of the "Digital Collection Hall". Up to now, Tencent Video has released the digital commemorative collection of "New Journey", Jingdezhen ceramic production skills "Flavour World" ceramics, Guizhou Pingpo Miao painting "On the Field of Hope" painting, Yunnan Gejiu tin craft "Talk Show Conference" sound tube, and the limited digital collection of the Year of the Tiger officially authorized by CCTV Animation and Tencent Video-CCTV Animation Fu Xiaohu New Year New Year Pictures . IP types include drama series, variety shows, documentaries, intangible cultural heritage skills, etc.

iQiyi and Mango TV have also launched entertainment IP digital collections for many times, such as the digital collections related to the theme of "The Wind Rises in Luoyang" launched by iQiyi, and the digital collections of the variety show "Detective Celebrity" and the TV series "Shangshi" launched by Mango TV wait.

In the field of film and television, the distribution of digital collections seems to be no longer a novelty. Last year, "The Matrix 4" produced 100,000 digital collections of the famous "red and blue pills" in the series of movies, and sold them at a price of $50 each, eventually earning $5 million in revenue. Wong Kar Wai made a digital collection of "In the Mood for Love - A Moment" with footage from the shooting day of the film in 1999, which was sold for HK$4.28 million at Sotheby's Autumn Auction. And this year's Spring Festival, "Miracle Stupid Kid", "Four Seas", "This Killer Is Not So Calm" and "Sniper" also released digital collections during the same period of release.

Digital collections with film and television works as the narrative background can improve their own audience awareness, and the release of digital collections based on film and television IP also has a positive effect on the long-tail effect of film and television publicity and IP.

The distribution of digital collections in the music field has also made strides. The well-known singer Zhang Huimei launched an online sensory experience activity at the same time during the concert. Fans can get commemorative NFTs on the Tezos chain with concert tickets; ” series of digital collections, this is the first time in the industry that Luo Dayou’s music charm has been fixed on digital collections.

The field of web literature and animation has also begun to deploy digital collections. In January of this year, the first online IP digital collection in China "Da Feng Da Gengren: The Heavens and Myriad Worlds" was released, with a limited number of 2,000 copies. The first project of the group's digital collection. In addition, a group of China's top animation companies have also released their digital collection plans. Among them, Tencent Animation has recently released a ten-year limited digital collection, which covers "Under One", "Fox Fairy Little Matchmaker", "The King" "Forgive Your Life" and other well-known national comic IPs, these collections were sold out on the day they went online.

In the field of artworks, NetEase Planet has also recently released the "NEWIDOL" series of digital collections. This collection is based on the representative works of the well-known contemporary artist Zhao Yiqian. It will be officially launched at 11:00 on the 18th.

Collecting digital collections has become a trend among Generation Z young people, and entertainment IP itself has its own influence. Digital collections and the IP behind them complement each other, allowing users to double their awareness. The release of digital collections by entertainment IP has become an important part of IP publicity and digital content. A win-win exploration of collections out of the circle.   

On the other hand, NFTData Collection’s empowerment of the platform’s membership system should not be underestimated.For example, Youku Video and Tencent Video themselves have a strong user base and membership base. Tencent’s financial report shows that as of the fourth quarter of 2021, Tencent Video’s paying members The number was 124 million, a decrease of 5 million compared with the third quarter, and the growth rate turned from positive to negative. Faced with the huge pressure of membership revenue growth, major platforms are also thinking of new outlets to attract new users and prepare for revenue conversion, and digital collections on the entertainment side may also supplement these contents.

Digital collections are specific digitized works, artworks and commodities that are uniquely identified using blockchain technology. Each digital collection is mapped to a unique serial number on a specific blockchain, which cannot be tampered with, indivisible, or substituted for each other. . Judging from the current technology, music, tickets, fashion games, cards, paintings, photographs, GIF animations, emoticons, etc. can all be made into digital collections.

Digital collections have the unique identification of the blockchain, which is scarce, non-tamperable, and traceable. While digital collections increase the liquidity of artworks, they also allow art creators to get a share and enjoy the growth value brought by artistic creation. The combination of digital collections and the field of entertainment has also opened up new space for the field of entertainment.

Relevant people in the industry believe that at present, the domestic digital collection market is still in the testing stage, and digital collections still have to be attached to the alliance chain of the platform and cannot be used for secondary transactions. Therefore, the asset potential of digital collections still needs to be developed, but like Youku Video and Tencent Video itself have a strong user base and membership base, which may happen to be more suitable for conversion and membership population.

It is worth mentioning that the industry is still in the early stages of development, the technology is not mature enough, the relevant platform functions are not perfect enough, the value definition of digital collections is not clear, coupled with the uncertainty of supervision, and the lag of relevant laws and regulations, the current market Most of the digital collections on the Internet are still in the stage of innovation and trial and error.

Both Youku Video and Tencent Video are APP platforms with a relatively large number of domestic comprehensive video website users. They compete with each other and grow in the competition. The big factories are very active in chasing new things, and this battle has already begun, but the new world has not yet fully opened, and no one knows what is inside, but everyone knows that it is a new world.