"New LeTV" transformation screen ecology to family entertainment
Wuxi Jinle Automobile Motor Factory , https://www.wxjldj.com
Recently, LeTV has been going through quite a storm. On the 18th, the introduction of the new chairman, Sun Hongbin, marked the beginning of a fresh chapter for the company, particularly following a significant reshuffle within the upper management during a closed-door meeting. This meeting not only outlined the future direction of LeTV’s business focus but also made strategic and positioning adjustments for key areas like LeTV Video and others.
During this meeting, a new core leadership team emerged at LeTV.com. Le Jun, who had just taken over as CEO two months prior, emphasized that LeTV would now concentrate on home-based internet entertainment, rather than continuing with the traditional model of purchasing copyrights and selling advertisements. The newly rebranded “LeTV†aims to foster a new company culture centered around solidarity.
At the company gathering, the "OpenEco" strategy, focusing on the big screen ecosystem, was clearly articulated. Currently, LeTV's large-screen ecosystem has already welcomed service providers such as CIBN and Huaxia Digital TV. According to data from LeTV’s Intelligent Terminal Research Institute, 89% of CIBN content on Super TVs is sourced from non-APP small C desktops and other portal platforms.
It was reported that LeTV’s new strategy involves shifting from a broad approach to a more focused and in-depth strategy. Previously, LeTV’s "seven eco-environments" were like an octopus with tentacles stretching in every direction. Liang Jun explained that today’s new vision is akin to a dumbbell, with one end being the TV business and the other the film industry and self-produced content. LeTV Video serves as the connecting rod between these two ends, binding them together to create value.
Regarding the adjustments within LeTV, the company mentioned that they would enhance their self-control capabilities by collaborating with Huace TV, continuing to produce their own movies and TV series. Additionally, they plan to tailor films suitable for family screen users for the Super TV business, helping listed companies meet their unique content needs and driving membership revenue. LeTV has redefined itself not merely as a film and TV company but as an IP operation company with video content as its primary medium.
Furthermore, LeTV Video plans to move away from the fierce competition on mobile terminals and shift its focus to larger screens. The company explained that they currently have a stable user base on TV sets, generating hundreds of millions of dollars annually for the company.
Therefore, amid rising copyright prices, LeTV Video no longer feels compelled to remain stuck on the mobile platform. Instead, they can now focus on the burgeoning big screen market, which offers immense potential for growth. This strategic pivot not only diversifies their revenue streams but also aligns with the evolving consumer habits towards larger screen experiences.
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