Relying on the popularity of short videos and the rise of live e-commerce, the domestic MCN industry has ushered in explosive expansion in the past ten years. With the mature business model of talent signing, content creation, advertisement placement, and live streaming delivery, a large number of MCN organizations have rapidly risen and were once seen as a “outlet” on the venture capital circuit. Recently, an equity transfer announcement revealed the business difficulties of the MCN industry. An MCN organization that used to be the biggest league of live streaming platforms YY has an annual loss of close to 70 million yuan, even with 20 million fans and leading anchors. This is not an exception. The reporter combed through and found that, including many New Third Board companies and listed companies, losses have become a common situation for domestic MCN institutions. Some industry insiders confess that the industry has entered a stage of stock competition. Affected by problems such as rising traffic costs and shortcomings in business models, the survival routes and transformation strategies of large and small institutions are clearly divided.

Relying on the popularity of short videos and the rise of live e-commerce, the domestic MCN industry has ushered in explosive expansion in the past ten years. With the mature business model of talent signing, content creation, advertisement placement, and live streaming delivery, a large number of MCN organizations have rapidly risen and were once seen as a “outlet” on the venture capital circuit. Recently, an equity transfer announcement revealed the business difficulties of the MCN industry. An MCN organization that used to be the biggest league of live streaming platforms YY has an annual loss of close to 70 million yuan, even with 20 million fans and leading anchors. This is not an exception. The reporter combed through and found that, including many New Third Board companies and listed companies, losses have become a common situation for domestic MCN institutions. Some industry insiders confess that the industry has entered a stage of stock competition. Affected by problems such as rising traffic costs and shortcomings in business models, the survival routes and transformation strategies of large and small institutions are clearly divided.