Gelonghui, May 17 | JiTV Media (601929.SH) announced that according to regulations, it is necessary to obtain an “Information Network Dissemination Audiovisual Program License” issued by the State Administration of Radio and Television. The license is issued according to the information network audiovisual program business category, receiving terminal, transmission network, transmission scope, etc. Following an application from the company, the State Administration of Radio and Television recently re-issued the “License for Information Network Dissemination of Audiovisual Programs” (license number: 0713656). The new license added “Item 4: Production and Broadcasting Service of Web Series (Film)” to the two business categories of “Internet Audiovisual Program Service” and “Mobile Internet Audiovisual Program Service”, respectively. The others remained unchanged.
Impact on the company: First, it is beneficial to broaden the company's video business field. By entering the online drama (film) production and broadcasting service market, the company can open up new sources of revenue generation and development space. The company will integrate resources, actively explore diverse web drama theme reserves, innovate production and broadcasting operation models, and strive to build a series of online audiovisual content product ecosystems with high market recognition. Second, it is conducive to expanding video service cooperation channels. The company will actively explore cooperation opportunities with resource parties such as major video platforms and web drama investors, and promote the healthy development of the company's business through the principles of resource sharing and complementary advantages. Third, it is conducive to building an interactive entertainment platform for the industry. The company will use this as an opportunity to work with the National Radio and Television Network Corporation and brother companies to explore the creation of a “big and small screen” interactive entertainment demonstration platform for the industry, relying on its 5.0 video platform, radio and television 5G platform and mobile phone user resources. Actively innovate resource cooperation and operation models, and give full play to the demonstration effect of new radio and television content business service innovation through continuous updates of video content and application services such as interactive online skits, virtual and real video interactive dramas, VR full-sensory theaters, and social games.