Valuation Of Internet Video Enterprises Based On Modified DEVA Model

Internet video enterprises rely on the Internet as a huge industry sector to grow rapidly,and the industry scale and performance are growing rapidly,bringing new vitality to China’s economy.The profit model of Internet video enterprises keeps changing,the contribution of users to enterprise value becomes more and more obvious,the applicability of traditional valuation methods decreases,and the continued sinking of Internet video enterprises and the industry differences brought by segmentation lead to the fact that there is no uniform valuation method for such enterprises yet.Therefore,it is of great importance for future development to explore and improve the value assessment model for Internet video enterprises.Based on the above issues,this thesis composes the domestic and international literature on the valuation of Internet enterprises,selects Internet video enterprises with user value as an important driving factor as the research object,and discusses its valuation methods.First,this thesis explains the concept of Internet video enterprises for elaboration,reviews the development of Internet video enterprises,details their profit models,valuation difficulties,analyzes the value factors affecting Internet video enterprises,derives the DEVA model used in this thesis,and makes targeted amendments to the DEVA model according to the influencing factors.Specifically,this thesis corrects the Specifically,the squared relationship between enterprise value and user value is modified,and four parameters of business adjustment coefficient,user stickiness,premium rate and market share are also introduced to obtain a new DEVA model for the value assessment of Internet video enterprises.The modified DEVA model was applied to the selected cases,while the traditional DEVA model was used to evaluate them,and the evaluation results were compared horizontally,and the enterprise value of Mango Super Media was finally determined to be 1040.67 billion yuan.It is found that the modified DEVA model focuses on non-financial indicators such as user value of the enterprise,which can effectively avoid the problems affecting the valuation due to incomplete financial data or the enterprise being in loss,and the selection of parameters is also more suitable for the valuation of today’s diversified Internet video enterprises,so it is feasible to apply it to the valuation of Internet video platform enterprises.It should be noted that when the modified DEVA model is extended to the future Internet enterprise valuation process in other industries,further refinement of the relevant indicators according to the core characteristics of the enterprises is required to make the valuation results more accurate and reasonable.