1 导读 感谢思维导图作者 Bruce,爱好英语,经济学人爱好者 2 听力|精读|翻译|词组 Game of phones 流媒体大战之掌上权游 英文部分选自经济学人Business版块 Streaming-video wars Game of phones 流媒体大战之掌上权游 HBO prepares to challenge Netflix in streaming video HBO将在流媒体领域挑战Netflix In late 2012, just before the release of “House of Cards”, Ted Sarandos, chief content officer of Netflix, declared: “The goal is to become HBO faster than HBO can become us”. Few took him seriously. HBO had a globally recognised brand with some of the best programmes in television, including “Game of Thrones”. Yet Netflix would go on to surpass HBO in subscribers, money spent on programming and, this year, Emmy-award nominations. 点击下方空白区域查看隐藏内容 Meanwhile HBO did not try to become Netflix. It prioritised profits over growth as Jeff Bewkes, then chief of Time Warner, HBO’s parent, looked to sell the company. HBO achieved enviable operating-profit margins of 30-40% ($2.2bn on $6.3bn of revenue in 2017), and was comparatively restrained in its pursuit of high-profile shows (Netflix committed $100m in outbidding HBO for “House of Cards”, and was ridiculed for it). The network also lagged behind in the technologies of personalisation and streaming that made Netflix a killer app. At one point Reed Hastings, boss of Netflix, puckishly joked that the password used by Richard Plepler, his HBO counterpart, for online access was “Netflix bitch”. 点击下方空白区域查看隐藏内容 注释: 1.HBO不为追求高收视率而绞尽脑汁,HBO管理层最感兴趣的是“总体订户满意度”(TSS,total subscriber satisfaction),即并不是多少人看了,而是那些观看的人中欣赏这部作品的人的比率。 2.关于Netflix拿下《纸牌屋》首播权的衍生阅读: http://daily.zhihu.com/story/3826805 Now HBO is preparing to launch its counter-attack, backed by a phone giant. In June AT&T finalised its $109bn purchase of Time Warner. The wireless firm, which is also America’s largest distributor of pay-tv, views itself as locked in an existential battle with Netflix, Amazon, Facebook and Google for people’s attention. Facebook and YouTube each command screen time from about 2bn users a month, while Netflix wins about two hours of viewing a day per subscription. With its newly-acquired media assets, AT&T wants to match that kind of engagement. 点击下方空白区域查看隐藏内容 Ma Bell rides out 贝尔大妈(AT&T)(欲)平安度过难关 AT&T is pinning its hopes in part on a new subscription streaming service to be rolled out in 2019 under Time Warner’s new banner of WarnerMedia. A bigger HBO will be the “cornerstone” of that strategy, says John Stankey, boss of WarnerMedia. The phone firm hopes video customers will become wireless customers, and vice versa, driving down both churn and the cost of acquiring subscribers. It will join a crowded field: Disney and Apple are launching streaming-video services next year. 点击下方空白区域查看隐藏内容 注释: churn , short for churn rate, Churn - The term used to describe turnover rate of subscribers to a service or product. 订户流动率 - 此术语用于说明一项服务或产品的订户流动速度.选自《金山词霸》 HBO is not far behind Netflix in subscribers, with more than 100m worldwide (142m when counting subscribers to Cinemax, HBO’s other premium service), including about 40m subscribers in America. Netflix has nearly 60m subscribers in America and 137m globally. But most of HBO’s customers are acquired through a third-party distributor, depriving it of direct customer relationships and data. 点击下方空白区域查看隐藏内容 Under AT&T, HBO will have a better crack at both. AT&T already offers HBO-over-the-internet in America in high-end wireless plans and in packages with Directv Now, a streaming pay-tv service (and will do the same with its new streaming product). Eventually AT&T will allow HBO to sell more directly to consumers around the world. With accompanying investments in technology HBO should get a lot more data about what those subscribers are watching. 点击下方空白区域查看隐藏内容 And the new HBO will have a lot more shows to watch. Its budget for programming had grown at a snail’s pace under Time Warner, to $2.3bn in 2017; Netflix increases its spending on programming by an entire HBO or more each year, to $12bn-13bn in 2018. Under at&t, HBO will spend several hundred millions more on original programming next year, and more than that thereafter. Mr Plepler, who has fretted in the past that he could not say “yes” to everything he wanted, has already started saying “yes” to a lot more. HBO’s slate of big-budget shows in the coming years now includes adaptations of “The Time Traveller’s Wife”, “His Dark Materials” and “Watchmen”. HBO is also developing a prequel to its biggest hit, “Game of Thrones”. Mr Stankey says he wants “a more muscular HBO” that engages customers so regularly that they consider it important enough to keep year round. 点击下方空白区域查看隐藏内容 But HBO will not try to muscle its way into becoming another Netflix, which releases hundreds of original feature films, documentaries and series a year. Netflix sells its product on volume, personalisation and ease of user experience. HBO by contrast wins subscribers through a few hit shows and a reputation for quality television, which could be wrecked by an over-rapid expansion. As the network’s margins may be eroded in the near term, AT&T will need to be cautious. WarnerMedia will already take a hit to revenues as it pulls its content from Netflix to beef up its offer. 点击下方空白区域查看隐藏内容 注: 1、muscle in (on sb/sth):(informal, disapproving) 强行干涉;粗暴干涉;强行进入 2、Personalisation 人格化,个性化 3、Wrecked 毁坏[毁灭]某物( wreck的过去式和过去分词 );使(船舶)失事,使遇难,使下沉 4、take a hit 主动出击;遭受重击 beef up改善;加强;改进;提高make strong or stronger Yet HBO will still face a challenge to maintain its reputation as it expands. One Hollywood executive reckons that its schedule of original shows is about to double in size in the next few years. Among tv networks, he says, “I don’t think anybody has ever tried to scale it at the level that HBO is attempting to scale it.” 点击下方空白区域查看隐藏内容 AT&T’s bosses show signs of understanding this. Randall Stephenson, its chief executive, has referred to HBO as Tiffany’s to Netflix’s Walmart. Still, making the transition under AT&T will not be easy. In June Mr Stankey told a gathering of HBO employees that the year ahead would be such hard work at times that “it feels like childbirth”. AT&T is expected to surround HBO’s programmes with a variety of assets from Warner Media, from Warner Bros studio’s films (such as “The Dark Knight”) and tv shows (like “Friends”) to Turner’s library of classic films. Under Time Warner those assets were farmed out to a wide array of outlets including Netflix, HBO, Cinemax, Turner’s cable networks and niche streaming services like Film Struck (which will shut this month). If they are consolidated in one streaming product, to be sold alongside HBO, subscribers would in theory have something else to watch between servings of “True Detective” and “Westworld”. “There are nights you want to go to a four- or five-star restaurant,” Mr Stankey says. “But we also know there are nights where you want to get a cheeseburger.” 点击下方空白区域查看隐藏内容 注: Example: Farmers sometimes take out loans from money lenders who charge high rates of interest. 农民有时会向放贷人贷款,而且他们收取的利息很高。 翻译组: Emily,女,金融民工,经济学人粉丝 Andy,男,咨询民工,经济学人爱好者 Louise,女,会计民工,经济学人爱好者 VeRy,男,电气民工,经济学人资浅爱好者 校核组: Ema, 女,外贸民工,经济学人粉丝 Li Xia,女,爱爬山的健身小白, 美食狂人 3 观点|评论|思考 本次观点由Forest独家奉献 Forest,女,自由职业,经济学人爱好者 商业战略中的一个中心问题就是如何组织纵向链条。传统上大家关注的是这是由一家企业完成所有活动好呢?还是依赖市场中的几家相对独立的企业来完成比较好呢? 如今,注意力为王。可是注意力是那么一个不稳定的东西,智能手机和pad滑动页面易如反掌。对于传媒企业来说,受众的注意力纵然翩翩而至,可是如果没有持续性的热点内容可以追踪,那么,它们也不过就是一个过客而已。所以内容和发行要亲密合作,无缝连接变得日益必须。 号称重质不重量的内容为王的HBO,数年来因为在流媒体技术服务上不占优势,逐渐作别于黄金年代。为了和更亲近受众,数度努力不灵之后,直到现时顺着供应链条向下归顺技术大咖AT&T。简而言之, HBO没有的,AT&T都有,不过这样两个气质完全不同的两个公司,能不能两位一体还要拭目以待。 由一个愤怒的程序猿创建的Netflix,相对于HBO而言,走的完全是不同路线。Netflix从传媒纵向链条的由下而上逆袭, HBO没有的,曾经忽视的,它都擅长。HBO有的,它也在学,全面力拓,还更加海量。依托于技术服务优势的Netflix,如今在内容领域早已风生水起,气势逼人。不同于HBO间断的剧集供给,它密集的投放模式,对于喜爱快消费的新生一代来说,吸引力尤大。 这是流媒体初创乃至繁荣的时代,各家纷纷自建兵马打造大而全小而全。向下兼容和向上拓展,究竟花落谁家?还是它们共存共荣,最终日趋相似? 历史的选择,唯有翘首以待。 4 愿景 小组 现有一经济学人打卡群两个,如果您也有兴趣,可联系小编WeChat : foxwulihua。点击下方图片进行小程序打卡。 小提示:文末广告由腾讯提供,内容与本公众号无关,但是你的每次点击将为本平台赚取几毛收益。小编再次为你的每次点击广告表示感谢,快快发挥你们的点指神功吧。 |
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