Internet TV welcomes the most stringent supervision

Zhang Jing Yi

The news that the SARFT interviewed about the integration of Internet TV licensees side came a long way and has also been confirmed by China Media (000156.SZ), one of the licensees. The "box" tightening expected regulatory overshoot, concept stocks Coship (002052.SZ), Music Watch (300104.SZ) has been the next two days down. Music Watch yesterday suffered five agencies massive shipments of nearly 400 million yuan. Some analysts believe that strict management will cause commercial video sites and hardware vendors and other business development models are forced to adjust, or dampen market expectations.

Radio and television systems to increase administrative control, intended to speed up clarify the field of Internet TV operators, third-party Internet companies and hardware vendors increasingly cross between the rights and interests. According to a brokerage analyst who is familiar with the industry in Shanghai, analysis from the perspective of product and business development, currently depends on the integration of the license plate partners into the content of their own video site affected the most; if the performance impact of the forecast, hope to the upstream content Penetration to the layout of the whole industry chain of hardware equipment manufacturers, it was "blocked self-production and marketing of the road."

The secondary market has long also smeared the risk of serious investigation. LeTV opened low yesterday, closing at 36.28 yuan / share, a decrease of 9.75% intraday limit. Data show that after the plate, the stock volume of 33.62 million shares throughout the day, turnover of 12.48 billion yuan. Among them, the top five selling positions were all taken over by organizations and the bulk shipments reached 365 million yuan, accounting for 29.27% ​​of the total turnover. And on Tuesday, Coship also suffered agencies Zapan. The stock fell more than 7% all day, with a turnover of 308 million yuan. Three agencies shipped 28.62 million busy, accounting for nearly 10% of the turnover of the day.

The above analysts said that SARFT had named criticism of BesTV (600637.SH) and the number of Internet media outlets in China last month for naming violations. However, the news did not cause any market volatility. "The market obviously underestimated the determination and intensity of the supervisory efforts at this time and did not fully anticipate the policy tightening."

Those who are affected are going to mingle. Deputy general manager of MTV ZT on the "First Financial Daily" said that the regulatory tightening in the field of Internet TV is mainly to clean up non-standard operators, comply with the development of the industry standardization, market-oriented appeal; for standardized operation of the long-term industrial companies will be Good, short-term market volatility is still inevitable. For yesterday's market reaction, Zhang believes that investors "over-fear."

"Strengthening access to qualifications and strengthening normative operations is not in the restricted area of ​​the industry, but rather to encourage and regulate the development of the industry." Zhang said the policy requires video sites and licensees still have a variety of cooperation possibilities, Music Watch the current combination of hardware and software will not change the ecological model, occupy the Internet portal is also the premise of the business model landing.

However, the above analysts expect that although this policy regulation mainly involves Internet box products, they are either intended to "knock mountains and hunt their tigers" toward Internet TV terminals and enhance their self-examination. However, there is a good chance that policy regulation will continue to infiltrate the next step.