Policy ban TV games re-start potential market 40 billion

Last year, mobile gaming has become one of the most "hot" concepts in capital markets, and as competition intensifies, the concept of mobile gaming has been "dormant" in the capital markets this year.

However, with the "lifting" of the policy, the concept of video games gradually surfaced, causing some investors concern.

So, does the prospect of video game have enough imagination space, what kind of industry chain, what kind of company is worth investing?

This issue of the first financial newspaper, "investor conforming" on the focus on the concept of video games, revealing the fundamentals and interpretation of three key stocks, the following presents the conforming part of the content, want to get a full version, please add the first Financial wealth Shangweixin (micro-signal caishang02) understand.

Potential market size 40 billion yuan

Mention of video games, many people think of is "Little overlord", this is really a very successful video game products.

In fact, video games were born in 1985. 2000 Ministry of Culture and other major ministries issued a joint "on the implementation of electronic game management sites," the views of the provision of any enterprises, individuals may no longer engage in domestic video game equipment and its 0 accessories production and sales activities.

Earlier this year, the State Council released a series of preferential policies on the Shanghai FTA, with the lifting of the 13-year-old ban on TV consoles in China, signaling the imminent opening of the domestic video game market.

According to Newzoo, in the absence of the Chinese market, video games have remained the same for more than 30% of global game sales in the past few years, slightly below the computer game (around 40%) and ranked second in all games.

At home, the PC-side game has already entered the peak, mobile games, although started late, but also quickly become a Red Sea market, and PC and mobile phone compared to the TV end has just begun. The introduction of the concept of home internet, box, intelligent TV and a series of hardware equipment, for the game provides a new development environment. In this new market, for manufacturers, they found a new breakthrough, a new value-added point, the TV end of the game will become the next battlefield.

In addition to Microsoft (45.22, 0.27, 0.6%), SONY, Google (583.37, 1.12, 0.19%) and other companies, "BAT" is also very interested in the field of video games, has launched a related product.

So how big is the market space for video games?

"The prospects for future development in the field of video games are more optimistic. This year, the country will be up to 13 years of television game ban lifted, which shows that the 13 China's video game market is a blank, is an untapped ' mine '. The country will open the video game market after attracting many giants have beaches, and video game potential market demand is large, after the initial stage of market development, video games will soon become popular. "CIC consultant culture industry researcher Zailing said in an interview with reporters.

Wanguo Securities that the Chinese market in the last century in the 90 's demand for home video game consoles has been second only to North America, as well as Japan, considering the hardware and game content to pay, the potential market size or will reach more than 39 billion yuan, is expected to become the next blue ocean market, Intelligent TV and set-top box are expected to become the main bearing form of future video games, and network games will become the main mode of the Internet TV.

Cathay Securities believes that the video game market has a potential of no less than 40 billion a year, and that the market's potential will grow at no less than 20% a year, given the development of Android set-top box games.

The contents of the game are not rich enough

In the past, the profit model for video games was to gain market share by selling hardware at low or discounted prices, and then earning revenue from selling software and services.

"The video game domain contains two different types of host and box games." The industry chain of host games includes game content quotient, game host and TV manufacturer. and the box game industry chain includes game content quotient, box manufacturer and TV producer. "Zailing said.

China Sea Securities said that the main source of profit of video games: One is the sales revenue of video game software, the second is the TV game platform paid income. Among them, the sales income of video game software can be divided into independent development game income and third party game income.

In fact, video games are in the early stages of development in China and still face some problems. According to the introduction, from the domestic video game market, most of the game is still hand-swim transplant, suitable for the content of the game is not rich enough. At the same time, video games are facing problems such as poor hardware performance, lack of unified operating system platform, lack of unified gaming interactive equipment and payment inconvenience.

Hangzhou Public Play Technology Co., Ltd. General manager Huang that the future of video games is very beautiful, but now the video game also faces three major problems: the first is the matching of hardware and software, the second is the development of TV payment system, the third is the policy risk.

Which companies have investment opportunities?

Including music video network (300104. SZ), Hundred Sight Pass (600637. SH), Shen Konka (000016. SZ), the participants in the Internet television have started to dig up the value of Internet video games. In the eyes of brokers, the development of the video game market will help companies with users and platforms to further explore the value of the platform, including song Hua Cable (6000037. SH) and other radio and television operators, hundred-Vision, the Oriental Pearl (600832. SH), the number of Chinese media (000156. SZ) can benefit from TV set-top box operators.

Guo Hai Securities that the Android platform box game in the "substantial increase in hardware performance + domestic Android box large stock + game development Reserve talent," the three major advantages, is expected to become China's future mainstream development model. It is expected that the first half of this year will be able to exert its force, 2015, Jinya Technology (300028. SZ), Zhejiang Newspaper Media (600633. SH), Rapoo Technology (002577. SZ) is worth recommending.

In addition to the above box operating enterprises, some companies also to develop TV cloud game operating platform to intervene in the video game industry, in the video game of Cloud computing, the current a-share of shun network technology (300113.SZ), Everest information (300288. SZ) has developed a TV cloud game technology, seeking to become a TV game platform entrance.

(Responsible editor: Lvguang)