日积月累作船桨，逐浪扬帆渡长江。经过在DBA的课程学习与实践，2023年4月5日，DBA三期班同学、爱奇艺首席内容官兼专业内容业务群（PCG）总裁王晓晖迎来了他的最终答辩时刻。王晓晖同学在答辩现场阐述了《中国视频网站的商业模式及其演变研究》，成果丰硕，最终顺利通过答辩。恭喜王晓晖同学，让我们一起回顾他的高光时刻。

企业家学者项目（DBA）整合全球优质教育资源，打造极具前沿性和系统性课程，在框架模块、聚焦模块、专题研究+实践课堂这三大核心课程中，涵盖2大金融主题与4大微观主题，探索6大宏观方向，定制化行业专题，走访行业内领军企业。王晓晖同学正是在理论与实践的碰撞中，收获了应对新商业文明下新问题与新挑战的能力。“理解 - 判断 - 实践 - 引领”的DBA学习之旅，让他在企业家学者项目中历经了新商业文明的一次次洗礼，完成了跨越式的思想“突围”。 

 

本次论文答辩，来自长江商学院和新加坡管理大学（SMU）的教授们共同见证了王晓晖同学的学术成果。

Gerard GEORGE

Professor of Innovation and Entrepreneurship

,SMU

Jing LIU

Professor of Accounting and Finance,CKGSB

Qiang CHENG

Lee Kong Chian Chair Professor of Accounting,SMU

 

王晓晖 | 中国视频网站的商业模式及其演变研究

 

王晓晖同学答辩中

▇ 论文摘要：

本文以中国视频网站20多年的发展历程为研究对象，以当前中国几大视频网站：爱奇艺、腾讯视频、优酷、bilibili、芒果TV等为重点，从视频网站的发展演变历程、市场运作、内容生产、用户关系和政策关系5个维度对中国视频网站商业模式进行拆解。

研究发现，中国视频网站商业模式并非简单的链式关系，而是形成了商业模式关系网络，资本、市场、内容、技术、用户、政策等元素动态调整、平衡博弈展现出视频网站商业模式的“中国特色”。

研究认为：

1）中国视频网站商业模式会依据不同时期技术条件、资本状况等动态调整，但从重视UGC转向PGC为核心成为根本性改变；

2）尽管视频网站通过融资、并购等编造资本神话，但用户力的挖掘和开发才是视频网站商业模式的核心，平衡收支、降本增效是商业模式成功的关键；

3）内容决定视频网站用户力强弱，专业化、IP化、智能化、场景化成为内容生产的方向；

4）视频网站与用户处于动态博弈过程中，会员制、粉丝经济成为视频网站发展的双刃剑，激发用户参与成为增进用户黏性的手段；

5）中国视频网站的生存和发展方向深刻受到国家权力的影响，视频网站商业模式也需以国家法律、规制、政策等作为参考依据，并时刻处于公共性与商业性的平衡博弈中。

答辩现场

▇ ABSTRACT：

This paper takes the development history of Chinese video websites for more than 20 years as the research object and focuses on several major Chinese video websites: IQIYI, Tencent Video, Youku, Bilibili, Mango TV, etc. The author dismantles the business model of Chinese video websites in five dimensions: the development evolution of video websites, market operation, content production, user relationship, and policy relationship. 

王晓晖同学在长江DBA开学模块中

The study found that the business model of Chinese video websites is not a simple chain relationship, but a relationship network of business model, in which capital, market, content, technology, users, policy and other elements are dynamically adjusted and balanced gamed, showing the "Chinese characteristics" of the video website business model. 

The study concludes that:

1) The business model of Chinese video websites will be dynamically adjusted according to the technical conditions and capital status at different times, but the shift from emphasizing UGC to PGC as the core has become a fundamental change;

2) Although video websites fabricate capital myths through financing, mergers and acquisitions, etc., user power mining and development is the core of the video website business model and balance of payments, cost reduction and efficiency is the key to the success of the business model;

3) Content determines the strength of the user power of video websites while specialization, IP, intelligence and scenario become the direction of content production; 

4) Video websites and users are in the dynamic game process. Membership and fan economy have become a double-edged sword for the development of video websites. Stimulating user participation has become a means to enhance user stickiness; 

5) The survival and development direction of Chinese video websites are profoundly influenced by the state power, and the business model of video websites also needs to take national laws, regulations and policies as the reference basis and is always in the balance game between public and commercial.

合影

论文答辩圆满结束，但作为终身学习者，这是王晓晖同学的又一个起点。未来，他将带着对中西方管理学理论的认知与思考，继续践行新商业文明；用独到的洞见不断为中国经济注入新动力，引领行业的发展方向。