Mini KTVS have become a new urban craze among young people since 2017. People are questioning whether mini KTVS are going the same way as bike-sharing, but industry insiders are offering assurances that we won't burn any money and that we're in a highly profitable baby machine business. There is only one reason for doll machines to last: they bring excitement and freshness every time. But how do mini KTVS update iterations to retain user stickiness? And its business model, in a myriad of large companies in the line, and how many kinds of iterative play? The market size is expected to exceed 3 billion this year. Industry insiders say machines have been profitable from the start; If you're a young man who loves shopping, there's a good chance you'll come across some strange glass rooms in Beijing's malls and cinemas: a young man or two singing from the inside with a microphone, ignoring the crowds and starees outside.
Since 2017, mini KTV has become a new urban craze among young people: there are always long queues at weekends. On the capital side, news about the financing of mini KTV also emerged endlessly: the day after Singba announced that it had invested tens of millions of yuan in Aimei Technology, an offline mini KTV operating company called Minik, Yousing also announced that it had obtained a 60 million yuan capital increase from investor Youbao Online. With traditional offline KTV fading away and brands such as "pop stars" and "cash counters" facing closure, traditional KTV must seek a new way of transformation, which also opens a new door for online Internet companies to lay out their extensive entertainment business. Mini KTVS, as vending machines, also reflect this year's new trend in traffic: with online traffic increasingly expensive, offline traffic has become a new battleground. Data from IMEDIA Consulting shows that in 2017, the size of Offline mini KTV market in China is expected to reach 3.18 billion yuan, an increase of 92.7% compared with 2016, while in 2018, the size of offline mini KTV market will continue to grow to 7.01 billion yuan, with a growth rate of 120.4%, realizing a market explosion.
People are questioning whether mini KTVS are going the same way as bike-sharing, but industry insiders are offering assurances that we won't burn any money and that we're in a highly profitable baby machine business. There is only one reason for doll machines to last: they bring excitement and freshness every time. But how do mini KTVS update iterations to retain user stickiness? And its business model, in a myriad of large companies in the line, and how many kinds of iterative play? Young people in Beijing, Shanghai and Guangzhou have all heard a joke. Loneliness was rated on a scale of 10, with the lowest being going to the supermarket alone and the highest being having surgery alone. Going to KTV alone ranked sixth. Mini KTV, which is suitable for one or two people, eliminates the loneliness of young people to some extent.
A male net friend joke: if there is a girl at the gate of mini KTV to sing with me, I will definitely rush through the door and enter the experience immediately! Since 2015, mini KTV brands such as Minda miniK, Minda miniK, Minda miniK, Kamei Singing Bar and Thunderstone Wow House have sprung up from shopping malls to cinemas. Glass pavilion can hold two or three people, similar to a traditional KTV, singing screen, microphone, headphones WeChat pay or play money... The product is very simple, but this two square meters of space, the target is the young consumer fragmentation market. In February, Chen Hua, CEO of Singsong, made a strategic investment in Minda, the first mini KTV brand on the market. For him, the new model is ideal for wasting offline time. Since last June, he has been focusing on mini KTVS. Sing Bar has tried out singing Bar Maisong offline before, but mini KTV is completely different from traditional KTV mode -- one is suitable for parties and one is a temporary consumption for several people.
Malls are also seeing a lack of spending. At present, there are mini KTVS in most major shopping malls in Beijing. In August 2016, 10 m-bars entered chaoyang Joy City. The person in charge of the shopping mall introduced that the reason why they were willing to cooperate with mini KTV was that mini KTV could not only solve the fragmentation of customers' waiting time in the shopping mall, but also improve the utilization efficiency of corner space. Since Mida miniK, the first mini KTV brand on the market, started testing the waters in 2013, this pain point has proved to be real. Chaoyang Joy City related person in charge revealed that the current chaoyang Joy City friend sing single machine monthly turnover of about 15,000 yuan, the average daily income of each machine 500 yuan. At the end of the line, two girls who work at a Starbucks in the mall come to sing on weeknights: "Why is there no screen? How long does it take to see someone else sing?" Web celebrity products such as xi cha can also be seen at the entrance of KTV which has long queues on weekends and holidays. The emergence of new products must arouse the curiosity of young people in the first place. "A good market is bound to attract a lot of people," Mr. Chen said. The demand is there, the crowd is there, and that leads to competition between capital and multiple companies. The hardware of mini KTV is also very similar. In the end of the competition, how to break out of the homogenization is the key. May 31, Mini KTV, first floor, Chongwenmen Guorui City. You can choose the singing time after scanning the code.
How to break out: Patents, regional battles, product experiences, and mini KTV competition has escalated. On April 10, miniK sued m-Bar and three other mini KTV companies for patent infringement, demanding compensation of 160 million yuan. Meida proposed that the infringement is a kind of practice song recording room (bevel) appearance design patent. The incident was widely seen in the industry as a call to action in the mini-KTV industry. The case is still pending, but it also points to a common problem with hardware products: they tend to be homogenous, much like Shared bikes that run the streets in different colors. Amy Tech, the maker of Meida's original dance machine, has been looking for a bigger ENTERTAINMENT KTV since 2007, founder Li Jianbin told Reporters looking for Chinese makers. From the appearance to the content are in a full range of research and development, "Mida miniK" has successively applied for more than 30 patents, including 16 design patents, 5 utility model patents, and 1 invention patent.
Most of the players who joined the market after that were traditional KTV companies. The predecessor of Yousing is cutting-edge technology, and its previous products are mainly traditional KTV voD system. The owner of Wow house Thunder stone, Ek-zone sing oh owner Hai Mei also belong to this column. "It is not difficult to produce such mini KTVS, which are the same as the core products of traditional KTVS." This is also the reason why so many different brands have sprung up in the market, according to the staff of Yousing. Even if there are patents, there are no core technical barriers.