QQ dazzling dance as a former "famous brand",

is exerting its surplus value.

Music and dance games, maybe a change of face, jump.

In the past two years, one of the game publishers that has cooperated most closely with Tencent should be the game manufacturer of China Ruyi, Ruyi Jingxiu.

The new games "World Qiyuan" and "Volleyball Juniors: A New Journey" launched in 2024 can be seen inextricably linked. And in the new year, the bondage is still deepening.

On the evening of January 13, China Ruyi announced that the group signed an equity transfer agreement to purchase 30% of the shares of Beijing Yonghang Technology Co., Ltd. (hereinafter referred to as Beijing Yonghang) held by it from a subsidiary of Tencent Holdings, a major shareholder of China Ruyi.

The core assets of Beijing Yonghang include the national classic IP "QQ Xuanwu" in the early years, specifically covering a number of games such as "QQ Xuanwu", "QQ Xuanwu 2" and "QQ Xuanwu Mobile Game".

China Ruyi is a film and television company, which has successively produced film and television works such as "No War in Peking", "Langya Bang", "The Legend of Miyue", "Old Chinese Medicine", "Old Tavern", "The Battle of Midway", "To Our Dying Youth", "Sewing Machine Band", "Animal World" and other film and television works.

In addition, China Ruyi also has a membership subscription video platform "Pumpkin Movie".

Now, Chinese Confucianism is the two main businesses of film and television and games.

Although Jingxiu is a game business brand that was only established by China Ruyi in 2022, its development momentum in the past two years has been quite strong, and the Chinese film industry will enter a downturn in 2024, and the revenue contributed by the game business to China Ruyi is getting higher and higher.

According to the 2024 interim report, the revenue of China's Ruyi online game business reached 870 million yuan, accounting for 47.28% of the revenue in the same period, while the revenue of this business segment in 2023 will only be 446 million yuan, contributing only 12.30% to the revenue in the same period.

For this acquisition, China Ruyi said that it will explore the film and game linkage model, and strive to build QQ Xuanwu into a world-renowned comprehensive entertainment IP, maximize the value of IP, and promote business innovation and growth.

In addition, in July last year, Ruyi Jingxiu released Tencent's self-developed SLG mobile game "World Qiyuan" and achieved good results, and this year there is also a Tencent SLG "Dragonstone War" in progress.

What is the reason why Tencent has chosen to publish games through Ruyi Jingxiu many times?

Is the QQ dazzling dance and shadow tour linkage model developmental?

In this regard, Li Yutong, a reporter from the Daily Economic News, and Yu Yujin, a reporter from the China Times, had an exchange with Shule respectively.

QQ Xuanwu, as a former "famous brand", is exerting its residual value.

As a classic IP game in the past, QQ Xuanwu is no longer brilliant in the mobile Internet era due to the difference in carriers and experiences.

At this moment, the trial and error used to do the linkage between film and game and continue to maintain some sense of existence on various game carriers is a "leisurely" way of playing to maintain the value of IP.

However, while Tencent is shrinking the existing front and focusing on the core game IP, it is not reluctant to strip off the former high-quality IP, and it is difficult to have the spare energy to do "maintenance meetings".

Let the little brother Ruyi, a game company that has made a certain breakthrough in the field of film and television, plug in, but it is the best solution.

Confucianism's exploration of the linkage between film and game is not new, it was proposed and practiced by Perfect World more than ten years ago, but the effect is equal to nothing.

At this moment, Confucianism is more like the extensive harvest in Tencent's horse racing model, namely:

When Tencent focuses on high-quality games and overseas expansion, it uses the "little brother" to continue the original model to ensure that the existing experience and IP are inherited, and so that they can concentrate on big things.

It's just that Ruyi's size and combat power may not be able to fully promote so many games, and there is a taste of hitting the luck.

This point, on the contrary, is the same as that of Tencent, but it does not have Tencent's deep trial and error hole cards.

Tencent's purpose of betting on Confucianism is not complicated.

Tencent needs to support some deeply related strategic partners to make layouts outside of its own matrix.

At a time when Tencent lacks more experience in SLG for the time being, letting the "little brothers" with certain experience explore and accumulate experience is a path of diversified development and breakthrough at the end point.

This is essentially an externally weakened version of Tencent's internal horse racing model.

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