On November 30th, the opening ceremony of the 5th China Network Audiovisual Conference and Summit Forum took place in Chengdu. The event highlighted the new mission and momentum driving the audiovisual industry, showcasing innovative platforms and a fresh outlook. It attracted over 1,000 organizations and more than 5,000 professionals from major TV stations, internet companies, telecom operators, film studios, production houses, PGC agencies, marketing firms, tech and data service providers, universities, research institutions, and financial entities.
At the conference, Lv Huanbin, Party Committee Secretary and Director of Hunan Radio and Television Station, as well as Chairman of Hunan Radio and Television Group Co., Ltd., delivered a speech titled “Seizing the Opportunities Brought by the New Era of Media Convergence—Building Mango TV as a Human Radio and TV Station.†His keynote address emphasized the strategic direction for media integration and the importance of adapting to evolving digital landscapes.
The following is an excerpt from his speech:
Since the 18th National Congress of the Communist Party of China, socialism with Chinese characteristics has entered a new era—a pivotal historical stage for national development. This era has given rise to new ideas, which in turn guide its progress. On August 18, 2014, President Xi Jinping emphasized the need for media convergence, promoting Internet thinking, and integrating traditional and emerging media effectively. At the 19th National Congress, he further called for cultural system reforms, aiming to establish mechanisms that prioritize social benefits alongside economic gains. These directions have provided clear guidance for the integration of radio and television media, offering strong support and practical insights.
In 2014, after years of growth, Hunan Satellite TV faced a critical turning point. Following the General Secretary’s vision, we embarked on a path of media convergence. From launching the mobile platform Mango TV in 2014, our user base expanded from zero to 500 million, IPTV subscriptions reached over 55 million, and Internet TV terminals surpassed 65 million. Revenue increased from 600 million yuan to 3.5 billion yuan by 2017, significantly boosting our influence and reach.
We now share our experiences based on the "Five Fusions" proposed by the General Secretary:
First, content fusion: We integrated Hunan Satellite TV and Mango TV, enabling dual-platform broadcasting. Content production, program planning, and distribution have become more collaborative, with mutual exchanges between the two platforms. For example, Mango TV's original content will now be distributed to Hunan Satellite TV, marking a shift from one-way delivery to interactive exchange.
Second, channel integration: Leveraging big data and modern communication networks, we built new channels that cater to user needs. This ensures seamless interoperability between Hunan Satellite TV and Mango TV, supporting multi-screen access across traditional TVs, IPTV, OTT, and mobile devices.
Third, platform fusion: Initially dependent on Hunan Satellite TV, Mango TV has evolved into an independent platform with growing value. The goal is not just to be an online store but to function as a traditional media business on the internet, forming a "dual-core drive" model with Hunan Satellite TV.
Fourth, business integration: We restructured operations, fostering collaboration between traditional and new media. This includes software-hardware integration, customer resource sharing, and diversified business strategies, leading to a more unified and efficient approach.
Fifth, management integration: We established open communication channels in leadership, design, and training. By blending traditional media expertise with internet-focused teams, we ensure a smooth transition and better synergy between old and new media.
Following the General Secretary’s strategy, Hunan Radio and Television has embraced media convergence, achieving rapid development. As a state-owned entity, Mango TV ranks fourth in the online video industry. Recently, we launched a major asset restructuring, aiming to bring new media, e-commerce, content production, and other sectors into the capital market, fueling faster growth.
This year, Mango TV became the first in the online video industry to turn a profit. In the first half of the year, it made 150 million yuan, with full-year projections reaching 400–500 million. Our income structure is diverse and stable, with advertising, copyright, memberships, IPTV, and OTT all showing significant growth. Even with general advertising stagnation, Mango TV saw a 70% increase this year, thanks to strong control over content costs.
From its early days, Mango TV has actively invested in areas like film, music, social networking, hardware, and games, building a comprehensive ecosystem. Our restructuring plan has been approved by key authorities, and the listed company aims to achieve a net profit of 4.1 billion yuan over four years. We are confident in exceeding these targets.
As President Xi Jinping said, “The age is the mother of thought, and practice is the source of theory.†These words highlight the importance of aligning with the new era’s demands. With new strategies, opportunities, and leaps, Hunan Media is forging a unique, effective, and sustainable path in the integration of state-owned cultural media.
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