商务沟通论文全英文版.docx

商务沟通论文全英文版.docx

《商务沟通论文全英文版.docx》由会员分享，可在线阅读，更多相关《商务沟通论文全英文版.docx（10页珍藏版）》请在冰点文库上搜索。

商务沟通论文全英文版

Developmentsstrategyandfuturechallenges

ofYoukuTudouInc’s

Companybasics

ThetwoleadingonlinevideoplatforminChina

AnumbertwoplayerinChina’sonlinevideomarket

YoukuandTudououtlinevisionformergedcompany

OurIndustry

ProductDevelopment

Strongusagegrowth

Mobilebusiness

Industryoverviewandcompetitivelandscape

Onlineadvertisingmarket

Onlinevideouserbasegrowth

Onlinevideomarketgrowth

Strongusagegrowth

Mobilebusiness

Competitivelandscape

Industryranking

Financialforecasts

Anadvertisingcentricbusiness

Opportunity

Partnershipwithsocialplatforms

Mobilevideomarket

Risksandmyopinion

Thesuccessofourbusiness

Appendix

DATE:

November28,2012

FROM:

MoXianteng

TO:

TheCEOOfTheYouKuTudouInc’s

SUBJECT:

Developmentsstrategyandfuturechallenges

ofYoukuTudouInc’s

Companybasics

ThetwoleadingonlinevideosplatforminChina

TudouisaleadingonlinevideoproviderinChina.ThecompanyprovidesawiderangeofvideocontentsthroughbothPCandmobileplatforms,allowinguserstowatch,upload,rate,commentandrecommendvideos.Thewebsitewaslaunchedasausergeneratedcontent（UGC）videoplatforminApril2005andstartedtogeneraterevenuesbysellingadvertisingslotsin2007.In2008,thewebsiteexpandeditsvideoofferingandbegantointegratelicensedpremiumcontents,suchasfilmsandTVshows.By2009,Tudouhadbeguntoproduceitsowncontent,andtodevelopafocusonin-housebroadcasting.Meanwhile,withrobustmobiledatagrowthandtherisingpopularityofsmartphones,TudoulauncheditsmobilevideoplatformthroughChinaMobileinJanuary2010.BelowwepresentasampleinterfacethataTudouuserwouldseewhileviewingavideo.

Youkuisoffering15,367,500ADSstobesoldintheoffering.Priortothisoffering,therehasbeennopublicmarketfortheADSsorourshares.ItiscurrentlyestimatedthattheinitialpublicofferingpriceperADSwillbebetweenUS$9.00andUS$11.00.WehaveappliedtolisttheADSsontheNewYorkStockExchange,ortheNYSE,underthesymbol“YOKU.”

AnumbertwoplayerinChina’sonlinevideomarket

Asof2Q,Tudouaccountedfor14%oftotalvideoadrev,behindYouku.OurBuyonTudouispredicatedon2majorassumptions.China’sonlinevideomarketwillresembleanyotherfreemarketformedia（ie-withmultipleplayers）havingcrossedtheall-importantIPOgauntlet,thecohasadistinctpositioninthemarket,attractivetobothitsuserdemographic,andtoseverallarge,potentiallyacquisitive,internetpartnersseekingdiversificationintothisattractivespace.

OurIndustry

China’svideomediamarkethasdevelopedinaverydistinctmannerfromthoseintheUnitedStatesandWesternEurope,resultinginadomesticecosystemhighlyregulatedandfragmentedbothintermsofproductionanddistribution.

ProductDevelopment

Wehaveateamofexperiencedengineers.ThesupervisorsinchargeofourproductdevelopmentdepartmentgraduatedfromprestigiousuniversitiesinChinaandworkedatwell-establishedInternetandsoftwarecompaniesinChinabeforejoiningus.

Strongusagegrowth

Tudouhasdeliveredstrongtrafficgrowthoverthelastfewyears.AccordingtoAonSeptember1st,Tudourankedasthe#13websiteinChinawiththemosttrafficofanyofitspeersintermsofaveragedailyvisitorswithinthepastthreemonths.Asof2Q11,Tudouhad16.5mdailyuniqueviews（UV）,ranking#2amongstallonlinevideoverticalsinChinaaccordingtoiResearch.

AsofJune2011,Tudouhadaggregated48.2monlineUGCvideoclipsintotal,coveringa

widerangeoftopicssuchasentertainment,music,animation,andvariousother“happenings.”Tudouprovidesbothlongandshort-formvideoclipstocaterdifferentusers’entertainmentneeds.UGCuploadedbyTudou’susercommunityhascontributedsignificantlytothegrowthoftheplatform’svideoinventory,withanaverageof47,000newclipsbeinguploadedeachdayasof2Q11.WeshowthegrowthinthenumberofvideoclipsinTudou’slibrarythroughthefollowingcharts.

Mobilebusiness

InJanuary2010,TudoustartedtoprovideachannelonChinaMobile’swirelessvideoplatform,offeringaRMB6monthlysubscriptionpackageformobileusers.Tudoumoreoverhasalsopre-installeditsmobileappontoawiderangeofmobilephones（e.g.Nokia,Samsung,etc）.TheTudoumobileappsupportsvariousmobilesystems,includingSymbian,Android,Windows,andAppleiOS.

Industryoverviewandcompetitivelandscape

Onlineadvertisingmarket

WeexpectadvertisingspendinChinatocontinuetoshiftfromofflinetoonline.IResearchexpectstheonlineadvertisingmarketinChinatogrowstrongly,ata2010-14CAGRof42%.

Onlineadvertisingexpendituresrepresented5%oftotaladspendingacrossdifferentmediaplatformsinChina,andweexpecttheshareofonlineadvertisingtorisegradually.

Onlinevideouserbasegrowth

Theonlinevideomarkethasgrownbehindtheadditionofagreatnumberofusersoverthepastfewyears.AccordingtoiResearch,onlinevideouserstotaled394min2010andwillreach527min2012,tomarka2010—2012CAGRof20.5%.WeprovideiResearch’sonlinevideouserprojectionsinthefollowingchart.

WeattributetherobustgrowthinChina’sonlinevideopopulationtofourfactors:

Tighteningintellectualproperty（IPR）regulationsaroundvideocontent.NewrestrictionsonTVshowbroadcastingprovidingopportunitiesforonlinevideosites.

Onlinevideomarketgrowth

IresearchestimatesthatonlinevideomarketrevenuesreachedRMB3.14bin2010.Advertisingisthemainmonetizationmodelforonlinevideositesatpresent.AccordingtoiResearch,advertisingaccountedfor68.5%ofthetotalonlinevideomarketin2010,whilelicensingandothersources（includingsubscriptionfeesandotherVAS）represented6.4%and25.1%respectively.WepresentcurrentestimatesandforecastsforChina’sonlinevideobelow.

iResearchbelievesthattheonlinevideoadvertisingmarketinChinawillreachRMB10.8bby2013,growingata2009--2013CAGRof68.1%.WeprovideiResearchestimatesinthefollowingchart.

Competitivelandscape

Industryranking

TudouYoukuisaleadingonlinevideositeinChina.MajorcompetitorsinthemarketincludeSina,Sohu,Qiyi（aBaiduaffiliate）,Ku6（ownedbyShandaInteractive）,Xunlei,etc.Asof2Q11,TudouYoukuaccountedfor27%%oftotaladvertisingrevenuewithintheonlinevideomarket,takingsecondplace,accordingtoAnalysysInternationalestimates.

Wesummarizethemarketintermsofrevenuesharebelow.

WedisaggregaterevenuesintoAverageRevenuePerAdvertiser（ARPA）andnumberof

advertisersasshownbelow.Tudouboastedmoreadvertisersduring2007-2010,whileYouku

hadhigherARPA.Bothcompanieshaveshownstronggrowthinboththenumberof

advertisersandARPA.

Businessmodelandfinancials

Anadvertisingcentricbusiness

TudouYoukugeneratesrevenuesmainlyfromitsadvertisingbusiness.Asof2Q11,theadvertisingbusinessaccountedfor87.6%oftotalnetrevenues,whereasthewirelessbusinessandsublicensingrepresented9.5%and2.9%oftotalnetrevenuesrespectively.Thecompanystartedtosub-licensesomeofitslicensedcontentfromthirdpartycontentprovidersin2Q11.

Opportunity

Partnershipwithsocialplatforms

AccordingtoComScoredata,US-basedsocialnetworkingleaderFacebookhadclimbedtocapturethe#3mostuniquevideovisitors’websiteinJuly,followingGoogleandYahoo.TheaveragevideoviewingsessiononFacebookwas18.3minutesduringthisperiod.JunGroupsuggeststhata15-secondclipwillgetforwarded37%morethanaslightlylongerclip.WebelievealargeportionofvideosviewedonFacebookareshortUGCvideoclips.WethinksearchenginesandSNSplatformsplayanimportantroleindirectingtraffictoonlinevideowebsites.WeprovideAlexa’sstatisticsaboutthepercentageofuniquevisitstoTudouandYoukuwebsitescomingimmediatelypriorfromanupstreamwebsite.

Mobilevideomarket

AccordingtoiResearch’slatestdata,themobilevideomarketreachedRMB667min2010.IResearchexpectsthemarkettoreachRMB2,160min2012,andRMB11.6bin2013.Inthemeantime,iResearchexpectsmobilevideouserstototal282mby2013andmobilevideopaiduserstoreach531min2014.In1H11,Jtookthelargestmobilevideomarketshareof15.9%followedbyUwitha14.1%marketshare.TudouandYoukuaccountedfor10.2%and5.8%ofthemarket,respectively.

Risksandmyopinion

WehavetofaceregulatoryandcopyrightinfringementrisksandInabilitytorenewcooperationagreementswithtelecomoperators,inabilitytomaintainmarketcompetitiveadvantage.Exceptfortheproducts,theserviceinournewmergedcompanyshouldmakeachangewemustusemoreworks,payalleffortstomakeourservicewell.Tomakeourcompany’sservicewellweshouldfirstbuildourcompany’scorporateculture.Inaword,theformingprocessofcorporatecultureleadstotheheterogeneityofcorporatecultureasthedifferentiationinmanagementenvironment,industry,managers,corporatehistory,strategy,businessobjectivesandsoonmakesthecorporateculturedifferenttoeachother.

Thesuccessofourbusiness

Thesuccessofourbusinessdependsonourabilitytomaintainandenhanceourbrand.Ifwefailtocontinuetoanticipateuserpreferencesandprovideproductsandservicestoattractandretainusers,wemaynotbeabletogeneratesufficientusertraffictoremaincompetitive.Weoperateinarapidlyevolvingindustry.Ifwefailtokeepupwiththetechnologicaldevelopmentsandusers’changingrequirements,ourbusiness,resultsofoperationsandprospectsmaybemateriallyandadverselyaffected.Ourquarterlyrev