Research On Value Evaluation Of Internet Video Companies

After more than ten years of development in the online video industry,the growth of the number of users has slowed down,the industry’s regulatory policies have tightened,and the industry’s demographic dividend has decreased,forcing Internet video companies into a transition period.Under the current situation,scientific and reasonable valuation of Internet video companies is of great significance to the development of the online video industry.However,at present,there is little research on the valuation model of the value of Internet video companies in China.This article aims to build a more scientific and reasonable valuation model of Internet video companies based on the existing research.This article first sorts out the relevant concepts of Internet video companies,and introduces the development process,development status of the online video industry,and the profit model of the online video industry.Secondly,according to the industry development status and corporate profit model,the characteristics of Internet video companies are extracted.Based on these characteristics,it can be concluded that the use of the traditional three major evaluation methods is more restrictive.Therefore,it is noted that the key factor affecting the value of Internet video companies is the uncertainty of user resources and development,and the analysis shows that Metcalfe’s law and real option method are more suitable for valuation.Finally,a real option model combined with Metcalfe’s law is constructed to value video companies.In this paper,Metcalfe’s law is mainly used to modify the two parameters of the current price and the execution price of assets in the real option method.This has a certain improvement meaning to the traditional real option method using the value of book assets and liabilities as parameters.The evaluation case selected in this paper is Bilibili Video Company.By using the improved real option method and the unmodified real option method constructed in this paper to separately evaluate the case,and compare it with the market value of the evaluation base date,we get the construction of this paper.The valuation of the model is closer to the value of the Bilibili video company,so it is reasonable to evaluate the Internet video company in combination with the real option model of Metcalfe’s law.