Entertainment mogul: Starting his business with the internet

Chapter 472 Internet Banking

Zhao Jingsheng surveyed the room, his face displaying both the composure characteristic of a technical manager and a hint of excitement at the prospect of making his mark.

His voice was loud and clear: "Thank you for your trust, Mr. Zhou, and thank you for the support of all my colleagues."

"Just now, Mr. Zhou pointed out the industry's predicament and new growth direction: animation."

This was not a spur-of-the-moment decision, but rather based on a deep analysis of market trends, user needs, and the company's technological strengths.

To quickly build a differentiated content barrier, the company can adopt a dual-track strategy of 'copyright acquisition + original content cultivation'.

Zhao Jingsheng paused briefly, his expression becoming increasingly composed: "In the early days of Toutiao Video, we introduced Japanese manga works such as 'Naruto' and 'One Piece'."

Historical data shows that this type of content significantly contributes to user growth. Therefore, this year the company will accelerate copyright negotiations with Shueisha, aiming to secure exclusive digital rights to more than ten top-tier works.

Zhou Juan nodded slightly. Although Toutiao Video has a Japanese anime section, it had been somewhat neglected due to piracy issues. Now, after listening to Zhao Jingsheng's analysis, she truly realized the huge potential of importing Japanese anime.

Zhao Jingsheng's tone was tinged with the passion of a pioneer: "Compared to film and television dramas that often require tens of millions of dollars in investment, the production costs of animation, especially the early-stage costs, are much more controllable."

The production cost per episode is much lower than that of similar-level films and television dramas, and the production cycle is relatively flexible, allowing for a simultaneous production and broadcast model.

It also allows for rapid adjustments based on user feedback, resulting in low trial-and-error costs and higher capital utilization efficiency. This perfectly aligns with our current core objective of 'reducing costs and increasing efficiency.'

After a pause, he emphasized, "The long-term goal mentioned by President Zhou is to transform from a 'content player' to an 'IP operation platform,' and animation is one of the most efficient breeding grounds for original IPs!"

A successful anime character or a deeply moving anime story has immeasurable potential for derivative value, such as games, merchandise, and live-action adaptations.

Backed by the group's strong technological, data, and traffic advantages, Toutiao Video is fully capable of adapting comics and novels into animations, and further developing derivative products, allowing the IP to circulate and increase in value within the group's ecosystem!
This is definitely more advantageous than the simple 'copyright acquisition-play-advertising' model.

Zhao Jingsheng's blueprint for Toutiao Video was clear and highly attractive. The originally somber atmosphere in the meeting room was gradually replaced by new expectations, and Zhou Juan listened and nodded repeatedly.

"In terms of original research cultivation, we must go hand in hand with both 'building nests to attract phoenixes' and 'incubating independently'."
On the one hand, a special support fund will be established to attract high-quality creators in the market to exclusively or first publish their works on Toutiao Video with relatively generous revenue sharing or guaranteed revenue sharing models;

On the other hand, we are building our own core creative and production team, relying on our sister companies Tiangong Special Effects and Reading Group to accurately identify projects and incubate original S-level animation IPs belonging to Toutiao Video.

I suggested that our first independent project be the bestselling novel "Battle Through the Heavens" from Qidian.com. Its fantasy and martial arts theme is currently a popular genre in the youth market, and adapting it into an animation would be very promising.

Hearing this, Zhou Juan pondered for a moment, then slowly nodded: "Okay! I will discuss the adaptation of the best-selling book with Mr. Wu of the Reading Group. Mr. Zhao, do you have any other thoughts? Please continue."

Zhao Jingsheng looked intently at the management team present and spoke eloquently: "Anime users are a group with extremely strong community attributes."

We aim to create a highly interactive anime community, encompassing features such as bullet screen guidance, creator interaction, fan fiction support, and access to a merchandise store.

At the same time, high-quality anime content will be deeply embedded into membership benefit packages, with "anime-exclusive memberships" or "episode-watching privileges" designed to attract core anime users to pay.

Zhou Juan couldn't help but applaud. The membership benefits plan had hit the nail on the head: "President Zhao, your plan is excellent and very feasible. Please feel free to make any requests."

After a moment's thought, Zhao Jingsheng stated frankly: "To achieve these goals, there are several key requirements:
Sufficient budget investment is needed during the initial stage, especially for introducing some high-quality Japanese comics as a supplement to traffic, which requires financial support.

Including the incubation of original projects, the initial investment should not be less than 2 million yuan.

Zhou Juan exchanged a glance with Ye Yuan and Chen Mingyu, and immediately declared, "No problem! The company will invest in this 2 million!"

Upon hearing this, Zhao Jingsheng perked up and continued, "Animation development technicians can temporarily seek support from Tiangong Special Effects, but the company's HR department needs to expedite the recruitment process for animation scriptwriters, community building experts, and related operational talent."

The meeting room fell silent as everyone carefully digested this ambitious plan.

After a while, Zhou Juan summarized: "President Zhao's thinking is very clear. He explained the goals, paths, and needs thoroughly."

Breaking through a deadlock is never easy, but animation was the axe the company chose to break the ice.

After the meeting, Zhou Juan closed her notebook, picked up her teacup, and was about to get up and leave when Chen Mingyu leaned closer and said, "President Zhou, please wait a moment. I have something to report."

Zhou Juan nodded and sat back down in her seat. Only after everyone had left the conference room did she ask, "President Chen, is there anything I can help you with?"

Chen Mingyu quickly said, "President Zhou, Hunan TV has its eye on the copyright of the parent-child outdoor reality show 'Dad! Where Are We Going?' which we imported from South Korea's MBC TV station, and wants to join hands with us again to develop this variety show."

Zhou Juan immediately became interested. The previous collaborations between Toutiao Video and Hunan TV on shows like "I Am a Singer" and "Divas Hit the Road" were very successful, attracting many paying users to the platform.

"What kind of cooperation does Hunan TV want?"

"Following the old example of 'Divas Hit the Road,' both parties will jointly invest, we will publish the copyright, and the TV station will be responsible for production."

“I agree in principle.” Zhou Juan pondered for a moment, a hint of doubt flashing across her face. “But will this kind of parent-child outdoor reality show be well-received by the market?”

"This show has good ratings in South Korea, and I think it's worth a try."

Zhou Juan felt a little more at ease: "Then let's cooperate. How does Hunan TV plan to film it?"

Chen Mingyu further explained: "They plan to make some localization adjustments, which will focus more on testing the celebrities' ability to take care of children."

They will also place greater emphasis on parent-child communication and interaction, which aligns better with our mainstream values.

Zhou Juan nodded approvingly, saying, "Hunan TV does have a unique approach to variety shows; its ideas and concepts are very insightful."

We should learn from their experience and learn from their expertise to lay the foundation for independent development in the future. Mr. Chen, you're in charge of the platform's content, so please keep a close eye on this."

"Don't worry, I understand."

Zhou Juan then asked, "Has Hunan TV selected the guests yet?"

"It's settled. It will be five father-son/daughter pairs: Lin Zhiying, Guo Tao, Tian Liang, Zhang Liang, and Wang Yuelun."

Zhou Juan chuckled: "The people have all been chosen. Hunan TV's preparations are quite thorough."

Actors, models, directors, athletes—they come from different fields and have diverse personalities. I'm really looking forward to seeing what kind of sparks they'll create.

Chen Mingyu then asked, "If you have no objections, I will finalize the cooperation details with Hunan TV as soon as possible."

Zhou Juan sighed softly, "I have no problem with this. Just follow the procedures. I hope this variety show will be a hit and relieve some of the pressure on the company this year."

Zhou Juan returned to her office and, after much deliberation, decided to report the situation to Song Ci.

They want to secure more group resources for Toutiao Video; even if they don't get financial support, at least they hope to receive more attention in terms of traffic.

He immediately picked up the landline receiver, dialed the secretary's office's short number, and the call was quickly answered.

"Hello, Mr. Zhou."

"Secretary Jian, is Chairman Song available right now?"

"President Wu is reporting to Chairman Song. Chairman Song is basically busy this morning." "What about this afternoon?" Zhou Juan knew what was going on. WeChat Wallet had just been launched yesterday, on the Lantern Festival, so Wu Yi must be reporting on that now.

"I'm sorry, Mr. Zhou, Chairman Song and his wife are flying to South Korea this afternoon to visit Samsung Group."

If your matter isn't particularly urgent, I can help you schedule an appointment for the day after tomorrow. Chairman Song will be returning to China the day after tomorrow.

Zhou Juan chuckled awkwardly, "No need, Chairman Song's schedule is so tight, I won't bother him. I'll find an opportunity to report to him when he has time."

At this moment, in the chairman's office of Tengda on the top floor of the technology building, Song Ci was staring at the computer screen, browsing related reports about WeChat Wallet.

[Exclusive from Caijing.com] WeChat Wallet's launch day ignites a "wallet revolution"! The era of instant wealth management for everyone has begun!

核心数据：18小时吸金221亿，超余额宝首周总量；单户均额812元，87％资金来自千元以下零钱；工行协议存款利率5.88%，较余额宝低12个基点。

"When even the aunties buying groceries start discussing the seven-day annualized yield, you'll know that times have truly changed!"

"ICBC's deposits have increased rather than decreased, which is the key point! It proves that mobile finance and banks are not a zero-sum game, and the Tengda model may be the solution for the industry."

……

After quickly scanning the comments from economists, investment bankers, and others below, Song Ci looked up from the screen and asked, "Any news from ICBC?"

Wu Yi responded cheerfully, "There's been no unusual activity with ICBC's large-denomination certificates of deposit, and President Jiang is very satisfied."

Song Ci nodded slightly. The situation with the money transfer service was largely as he had anticipated, but out of caution, he still offered some words of advice:

"We need to closely monitor any data anomalies. The banks take anti-money laundering very seriously, and we need to cooperate fully."

"do not worry."

After saying that, Song Ci casually picked up a document from the table and handed it to his subordinate: "Take a look at this."

Wu Yi took the document with both hands, glanced at the title, and subconsciously read it aloud: "Building a WeChat Pay Score System," before carefully flipping through it.

While Wu Yi was carefully reading the document, Song Ci explained from the side: "WeChat Pay Score is a comprehensive scoring system for personal consumer credit based on WeChat Pay big data."

It assesses users based on three core dimensions: identity characteristics, payment behavior, and payment history. A higher score indicates better credit, meaning more convenient services the user can enjoy in the future.

Looking at the materials and combining them with what the chairman had just said, Wu Yi suddenly understood: Payment Score is a dedicated credit assessment system built for WeChat Pay.

This is not only a functional supplement, but also a key leap from a tool to a credit intermediary, laying a solid foundation for the group to carry out more financial businesses.

Turning to the fourth page of the document, he glanced down, his pupils suddenly contracted, and he abruptly looked up at Song Ci, his face filled with extreme shock.

His voice trembled: "Chairman Song, you plan to... plan to establish an internet bank?"

This completely exceeded his expectations. In his view, launching Lingqiantong (a payment platform), establishing deep cooperation with the four major banks, and building a payment score system already represented the pinnacle of internet finance.

But to everyone's surprise, the chairman's ultimate goal was not "cooperation" at all, but to start anew under the name of Tenda, reshape the rules, and personally create an internet bank!

Starting a bank? What enormous amount of capital, what stringent licenses, and what complex regulatory communications would be required?
The underlying interests and potential risks are enough to send chills down your spine just thinking about them.

This is no longer just ordinary business innovation; it is touching the most core and sensitive nerve of the financial system.

The air in the office seemed to freeze for a few seconds. Sunlight streamed in through the window, casting a golden edge behind Song Ci, making his expression appear exceptionally profound.

"Otherwise, why do you think the payment score system needs to be so complex?" Song Ci's voice remained calm.

"Identity traits are linked to user data, payment behavior connects online and offline consumption scenarios, and credit history covers everything from utility bill payments to credit card repayments..."

Wu Yi was shocked to hear this, and only then did he realize that the items in this payment scoring system, such as "payment authority," "small loan limit," and "supply chain finance rating," were not features that ordinary payment tools should have.

“Chairman Song! There’s no precedent for internet banks in China yet, and there’s the licensing issue…” Wu Yi licked his dry lips, took a deep breath, and said, “The regulators have always been very cautious about private capital entering the banking industry…”

"The group is already studying and communicating about the license issue; it's not something you need to worry about," Song Ci interrupted, her tone leaving no room for doubt, clearly indicating that she had already given this matter a thorough consideration.

"What you need to do now is understand why it has to be an internet bank, and the role that payment scores play in it."

"The success of Lingqiantong proves that we have the ability to aggregate massive amounts of scattered funds; the construction of payment scores can help us filter out the highest quality and most trustworthy users."

The Song lyrics were not loud, but every word clearly reached Wu Yi's ears.

"But have you ever thought about this? The vast majority of the funds we attract can currently only be 'deposited' in traditional banks through negotiated deposits, earning a stable interest rate spread."

However, within our own ecosystem, whether it's the personal consumer loans that future internet banks may target, or the supply chain finance supporting the development of millions of small and medium-sized merchants on the platform, there is a huge and thirsty demand for funds.

Wu Yi instantly grasped the key point, his mind racing: "You mean, we have low-cost funds and valuable user credit data in our left hand, and we face huge financing needs within the ecosystem in our right hand."

But they have to go through someone else's banking system for transactions? This involves huge value loss and efficiency barriers!

“That’s right!” A sharp glint flashed in Song Ci’s eyes. “The good stuff will eventually flow into one’s own field.”

Internet banks are like our own 'field'; payment scores are the most important 'water source' and 'blueprint' for irrigating this field.

Even in the future, based on payment scores and richer behavioral data, we will be able to provide users with highly personalized wealth management services, intelligently recommending combinations of deposits, wealth management products, and insurance.

Song Ci's tone wasn't particularly impassioned, but each question struck Wu Yi like a heavy hammer, gradually transforming his initial shock into boiling excitement and a clear strategic vision.

Wu Yi finally understood. The chairman wasn't looking at the next move, but at the endgame ten or a hundred moves ahead.

WeChat Pay, Wallet Balance, Payment Score... all of these are carefully placed pieces in a game of chess.

The interconnected structure aims to build a closed-loop financial ecosystem led by Tenda, covering deposits, loans, remittances, and wealth management.

Internet banks are the most dazzling jewel in this crown, serving as the ultimate vehicle for connecting all businesses and maximizing value.

Thinking about the enormous opportunities and disruptive energy contained therein, Wu Yi felt a shiver run down his spine. It wasn't fear, but the excitement of about to participate in creating a new era.

All previous doubts and worries were swept away by the enormous prospects at this moment.

Looking down at the "WeChat Pay Score" document in his hand again, his eyes were different now. Those thin pages of paper felt incredibly heavy.

It is no longer just a credit scoring product plan, but a key to unlock a vault, a blueprint for the future financial empire.

"Chairman Song, I understand completely!" Wu Yi's voice was slightly hoarse with excitement, but it was filled with unprecedented determination.

"Please rest assured, I will personally oversee the 'WeChat Pay Score' project to ensure its swift and stable implementation, laying the most solid foundation for the Group's next strategic step!"

(End of this chapter)