Research On Enterprise Value Evaluation Of Streaming Media Enterprises ——Take AQY As An Example

With the rapid economic development,the consumption structure of Chinese residents has also undergone significant changes.People's consumption needs gradually tend to be developmental and enjoyable especially under the internet economy,the demand for network entertainment is increasing obviously,coupled with the development of communication and information technology as a strong guarantee,China's internet entertainment industry has a high-speed development trend.Streaming media in the current fast-paced social environment,effective and timely to meet people's fragmented entertainment needs,as a mobile internet era of typical entertainment applications.However,the current Internet industry has entered a transitional period of stable development,and the streaming media industry is also in a new stage of ecological and system competition.The new crown epidemic in 2020 will bring some opportunities to the streaming media industry,but the macro-economic uncertainty also brings great risks and challenges to its development.Under this background,how does the streaming media enterprise improve its enterprise value,how does the investor more reasonably evaluate the streaming media enterprise value,is the question which this article pays close attention to and studies.This paper mainly explores the influencing factors and evaluation methods of streaming media enterprise value,and selects AQY as a case study.This paper analyzes the development potential of the streaming media industry from the horizontal and vertical perspectives,then analyzes the three business models and four competitive strategies of the streaming media enterprises in China,and finally analyzes the credit risk of the streaming media enterprises.The case selection of China's first echelon of streaming media enterprises in the user penetration of AQY research,value assessment process first choose the user value method to assess the existing value of enterprises,by adding two indexes,DAU/MAU and Qo E,which reflect the activity degree of users,and then using real option pricing method,which can contain high-intensity uncertainty of enterprises,to evaluate the potential value of enterprises,and will take into account the industry development potential and enterprise credit rating.Finally,the present value calculated by the user value method and the potential value calculated by the real option method are added to get the final value of the enterprise.Compared with the market value,AQY's market value still has room to rise.It is reasonable and effective to evaluate Chinese streaming media enterprise value by using the method of user value and real option.Streaming Media Enterprises rise with the development of the Internet.The study of streaming media enterprise valuation can expand the research methods in this field and complement the theory of Internet enterprise valuation.On the basis of the current research results,this paper studies the unique value characteristics of streaming media enterprises from the characteristics of Internet Enterprises,and optimizes the current valuation model,to improve the suitability of streaming media enterprises after the combination of user value method and real option method,to explore a reasonable way to determine the value of streaming media enterprises,and to provide valuation reference suggestions for trading activities in financial markets,it has important theoretical and practical significance.