（雅思課外精讀）愛奇藝和騰訊的流媒體老大之爭

隨著全球化的加速和教育的多樣化，越來越多的學(xué)生選擇留學(xué)，而在申請(qǐng)國外大學(xué)時(shí)，語言考試是繞不開的一環(huán)，本文和大家說一說：【雅思課外精讀】愛奇藝和騰訊的流媒體老大之爭，一起往下來看看吧。

Entertainment

娛樂

A big-sum game

燒錢游戲

Chinas streaming wars may end with a duopolistic peace

中國的流媒體戰(zhàn)爭可能會(huì)以雙寡頭壟斷的和解告終

1. Launched in 2010, iQiyi has grown used to the foreign press calling it the Netflix of China. Not the worst nickname, given the video streaming pioneers success. But Gong Yu, iQiyis founder and boss, insists that his firm is more accurately described as Netflix plus. A bold claim for a lossmaking business worth one-fifteenth as much as Americas (cash-generating) entertainment powerhouse with a market value of $214bn. Still, Mr Gong has a point.

愛奇藝于2010年推出，已經(jīng)習(xí)慣被外國媒體稱為中國版網(wǎng)飛。鑒于這家視頻流媒體先驅(qū)的成功，這并不是一個(gè)糟糕的稱號(hào)。但愛奇藝的創(chuàng)始人兼老板龔宇堅(jiān)稱，更準(zhǔn)確地說，愛奇藝是網(wǎng)飛+。愛奇藝現(xiàn)在正在虧損，其市值是美國市值2140元的娛樂巨頭的十五分之一。盡管如此，龔宇的說法還是有道理的。

2. Like Netflix, iQiyi offers customers a deep catalogue of licensed and original content. Unlike Netflix, which relies almost entirely on subscription fees, iQiyi has multiple revenue streams. Membership fees, which start from 19.8 yuan ($2.87) a month, accounted for just over half of iQiyis 7.4bn yuan in revenues in the second quarter. The rest came mainly from an online store (which sells entertainment-related merchandise), a nascent mobile-gaming arm, an e-book business and advertisements; iQiyi operates a freemium model which allows stingier users to stream some content free of charge provided they agree to watch ads.

和Netflix一樣，愛奇藝也向客戶提供一份深度的授權(quán)原創(chuàng)內(nèi)容目錄。與幾乎完全依賴訂閱費(fèi)的Netflix不同，愛奇藝有多個(gè)收入來源。愛奇藝第二季度74億元的收入中，會(huì)員費(fèi)占了一半多，會(huì)員月費(fèi)19.8元(合2.87美元)起。其余的收入主要來自其銷售各種娛樂相關(guān)產(chǎn)品的在線商店，其新開發(fā)的移動(dòng)游戲部門，電子書業(yè)務(wù)和廣告收入。愛奇藝以一種 免費(fèi)增值模式運(yùn)營，允許不愿花錢購買會(huì)員的用戶免費(fèi)觀看一些內(nèi)容，前提是他們要觀看廣告。

3. Conveniently for iQiyi, which does little business outside its home market, Netflix is blocked in China, under laws that ban a lot of foreign content. But that is not to say that China is free from the streaming wars of the sort that pits Netflix against rivals like Disney, HBO (owned by att) and NBC Universal (belonging to Comcast). Far from it. Mr Gong is battling Tencent Video, part of the eponymous technology conglomerate. It overtook iQiyi at the end of June with 114m video subscribers to iQiyis 105m (see chart). Mr Gongs firm shed 14m subscribers in the most recent quarter while Tencent Video, which also runs a freemium model and charges subscribers 20 yuan a month, added 2m.

愛奇藝幾乎沒有國外業(yè)務(wù)，而網(wǎng)飛在中國被屏蔽，因?yàn)橹袊山沽撕芏鄧獾膬?nèi)容。但這并不是說中國流媒體沒有像網(wǎng)飛一樣面臨各種紛爭，此前網(wǎng)飛與迪士尼、HBO(美國電話電報(bào)公司所有)和NBC環(huán)球(康卡斯特公司所有)等展開了競爭。并非如此。龔宇和騰訊旗下的騰訊視頻競爭正是激烈。6月底，騰訊視頻用戶為1.14億，超過了愛奇藝的1.05億 (見圖表)。愛奇藝上一季度用戶流失了1400萬，而騰訊則增加了200萬用戶。騰訊視頻也采用免費(fèi)增值模式，每月向用戶收取20元會(huì)員費(fèi)。

4. IQiyi insists the setback was down to one-off factors, such as virus-induced disruption to film production, which temporarily emptied the content pipeline. Perhaps. But Tencent Video offers a richer selection of English-language content, including hit television series like Chernobyl and Silicon Valley. More important, the rivalry between Tencent Video and iQiyi is a proxy war between mighty Tencent and fading Baidu, a search firm that is iQiyis majority owner. Indeed, iQiyi seemed to concede as much in its latest annual report, writing that competitors include well-capitalised companies that are capable of offering compensation packages more attractive to talents.

愛奇藝堅(jiān)稱，用戶流失是一次性因素比如新冠導(dǎo)致的電影拍攝中斷，內(nèi)容渠道不暢導(dǎo)致的。也許確實(shí)是這樣。但騰訊視頻向用戶提供了英文內(nèi)容，包括正在熱播的《切爾諾貝利》和《硅谷》等電視劇。更重要的是，此次愛奇藝和騰尊的競爭，是其母公司騰訊和正在衰落的搜索引擎百度之間的競爭。百度是愛奇藝的大股東。事實(shí)上，愛奇藝最新的年度報(bào)告中似乎也默認(rèn)了這一點(diǎn)，報(bào)告中稱：競爭對(duì)手是資本充足的公司，能夠?yàn)槿瞬盘峁└呶Φ男匠辍?/p>

5. Still, as Westerners who pay for a few video subscriptions can attest, streaming is not a zero-sum game. Gigi Zhou of Bocom International, a broker, reckons the Chinese market will soon be big enough to sustain both iQiyi and Tencent Video, which also has yet to make money. Ms Zhou expects 400m Chinese to subscribe to video-streaming platforms by 2023, up from some 300m in 2019. So long as no new rival emerges, each firm could capture around 150m, helping them spread costs over more subscribers and so turn a profit.

不過，正如一些付費(fèi)訂閱視頻的西方人所證明的那樣，流媒體的紛爭并不是零和游戲。交銀國際的經(jīng)紀(jì)人周琪琪(Gigi Zhou)認(rèn)為，中國市場很快就會(huì)壯大到能夠支撐愛奇藝和騰訊視頻，兩家公司都還未實(shí)現(xiàn)盈利。周琪琪預(yù)計(jì)，到2023年，中國將有4億人訂閱視頻流媒體平臺(tái)，而2019年僅有3億人。只要沒有新的競爭對(duì)手出現(xiàn)，兩家公司每家都能獲得大約1.5億用戶，他們可以將成本分?jǐn)偟礁嗟挠脩羯砩?，從而?shí)現(xiàn)盈利。

6. Before streaming peace can break out, iQiyi faces another fight. On August 13th it said it was under investigation by Americas Securities and Exchange Commission after a short-seller accused it of inflating sales data, a charge it denies. If found guilty, it may have to delist from New Yorks Nasdaq exchange. The firms stable share price implies investors faith in battle hardened Mr Gong is unshaken.

在流媒體戰(zhàn)爭和解之前，愛奇藝還面臨著另一場戰(zhàn)斗。8月13日，愛奇藝表示正在接受美國證券交易委員會(huì)的調(diào)查，此前一名賣空者指控愛奇藝夸大銷售數(shù)據(jù)，但是愛奇藝否認(rèn)了這一指控。如果愛奇藝被查確實(shí)有在夸大，那么它可能不得不從紐約納斯達(dá)克交易所摘牌。公司穩(wěn)定的股價(jià)意味著投資者對(duì)龔宇是很有信心的。

精讀解析

篇章結(jié)構(gòu)P1：愛奇藝在中國享有盛譽(yù)。P2：愛奇藝的收入來源構(gòu)成。P3P4：愛奇藝和騰訊的戰(zhàn)爭。P5：愛奇藝和騰訊的戰(zhàn)爭并不是零和游戲，兩家公司最終能夠?qū)崿F(xiàn)和解。P6：愛奇藝當(dāng)前面臨夸大銷售指控。

重點(diǎn)單詞duopolistic雙頭壟斷的；雙寡頭的【例句】On the basis of a non - cooperative game - theoretic model, we provide RD investment Nash equilibrium outcome under duopolistic competition. 通過利用非合作博弈論方法建模，本文給出了這種情況下RD投資額的納什均衡解。

lossmaking / l?s,me?k?? / adj. 老是虧損的【例句】It reportedly turned a profit in June 2019, a feat in the world of loss-making unicorns.據(jù)報(bào)道，該公司在2019年6月實(shí)現(xiàn)盈利，這在虧損的獨(dú)角獸行業(yè)是一大偉績。

subscription /s ? bskr ? p ? ( ? )n/ n. 捐助, 訂閱, 簽名；捐款;訂閱費(fèi)【例句】A subscription costs 12 dollars per annum.每年訂12美元的雜志。

merchandise /m ? ? t ? ( ? )nda ? s/ n. 商品, 貨物vt. 買賣, 經(jīng)營【短語】general merchandise 雜貨；日用商品merchandise trade 商品貿(mào)易merchandise sales 商品銷售，銷貨merchandise on hand 現(xiàn)貨；庫存商品purchase of merchandise 商品進(jìn)貨general merchandise market 百貨商場merchandise inventory 商品存貨；商品盤存；庫存商品【例句】Toothpaste is stock merchandise in a drugstore.牙膏是雜貨店里的常備商品。

nascent /ns( ? )nt/ adj. 初期的；開始存在的，發(fā)生中的【例句】Younger artists, such as the nascent Impressionists, also admired him.年輕一代的畫家也很崇拜他，如早期的印象派畫家。

freemium免費(fèi)增值注：免費(fèi)增值，是一種屬于專有軟件（通常是像軟件、多媒體、游戲或Web服務(wù)等數(shù)字產(chǎn)品）的一種商業(yè)模式，它提供免費(fèi)使用，但其中的一些先進(jìn)的特性、功能或虛擬物品則需要付費(fèi)。該英文單詞freemium是一個(gè)混合型新詞，來源于free（免費(fèi)）和premium（額外費(fèi)用）。

eponymous /i ? p ? nim ? s/ adj. （書、戲劇等中的人物）與作品同名的；以的名字命名的【例句】The unwieldy zaniness of Bulgakovs great novelwhose action involves the devil and his retinue visiting Stalins Moscow, the blighted affair of the eponymous characters, and the masters novel about Pontius Pilate and Jesussomehow hasnt deterred stage adaptations.魔鬼極其隨從造訪斯大林的莫斯科，同名人物的事跡以及大師所著關(guān)于比拉多和耶穌的故事，但這些都沒有阻礙舞臺(tái)劇本的改寫。

conglomerate /k ? ngl ? m( ? )r ? t/ n. (多種經(jīng)營的)聯(lián)合大企業(yè),企業(yè)集團(tuán)；聚集物;礫巖【例句】We work with some of the major energy conglomerates.我們的客戶包括一些大型能源企業(yè)。

setback /setbk/ n. 挫折; 阻礙【例句】They achieved some victories despite these setbacks.盡管受到這些挫折, 他們還是取得了一些勝利。

one-off / ?w?n??:f / adj. 一次性的n. 一次性事物【例句】It was just a one-off; it wont happen again.這事絕無僅有；不會(huì)再發(fā)生了。

proxy /pr?ks?/ n. 代表權(quán);代理權(quán)(尤指投票);代理人,代表【例句】Your proxy will need to sign the form on your behalf. 你的代理人將須代表你在表格上簽字。

concede /k?nsi?d/ vt.vi. 承認(rèn)；出讓, 容許【例句】He conceded ten points to his opponent.他讓給自己的對(duì)手十分。

zero-sum game零和競賽，零和博弈；零和對(duì)策注：零和博弈，又稱零和游戲或零和賽局，與非零和 博弈 相對(duì)，是博弈論 的一個(gè)概念，屬非合作博弈。零和博弈表示所有博弈方的利益之和為零或一個(gè)常數(shù)，即一方有所得，其他方必有所失。在零和博弈中，博弈各方是不合作的。非零和博弈表示在不同策略組合下各博弈方的得益之和是不確定的變量，故又稱之為變和博弈。如果某些戰(zhàn)略的選取可以使各方利益之和變大，同時(shí)又能使各方的利益得到增加，那幺，就可能出現(xiàn)參加方相互合作的局面。因此，非零和博弈中，博弈各方存在合作的可能性。國際經(jīng)濟(jì)中許多問題都屬于非零和博弈問題，即國際經(jīng)濟(jì)中各方的利益并不是必然相互沖突的。

inflate /?nfle?t/ v. 使充氣；使通貨膨脹【短語】inflation n. 膨脹；通貨膨脹；夸張；自命不凡inflatable adj. 膨脹的，可充氣的；得意的【例句】The principal effect of the demand for new houses was to inflate prices. 對(duì)新住宅需求的主要結(jié)果是促使價(jià)格上漲。

delist /di?l?st/ vt. 把(證券等)從上場證券中除去;把從清單中劃去【例句】Jardines fall into disfavour followed its decision in 1984 to shift its legal domicile to Bermuda, and then, a decade later, to delist its shares from the Hong Kong market. 怡和在1984年決定把法定注冊(cè)地轉(zhuǎn)為百慕大而十年之后，從香港市場抽牌，就此跌入冷宮。

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