Research On The Evaluation Of Online Video Enterprise Value

With the continuous progress of information technology,the Internet industry develops rapidly and becomes more and more fragmented.As an important part of the Internet industry,network video industry has undoubtedly undergone tremendous changes since its establishment.In recent years,there have been numerous mergers and acquisitions and stock listings of online video companies.On July 17,2019,Douyu was listed on NASDAQ.On August 10,2020,Tencent acquired 13.66% of Huya's shares held by Joyo Times and promoted the merger of Douyu and Huya.In this context,this paper,through the analysis of the network video enterprise,research on the network video enterprise value assessment method.In this paper,after reading literatures about the value evaluation of network video enterprises at home and abroad,the history and development status of domestic network video enterprises are consulted to understand the business model of network video enterprises,analyze the business characteristics of network video enterprises,and on this basis,study the value driving factors affecting network video enterprises.Through the analysis of the characteristics of network video enterprises,it is found that the discounted cash flow model and the market method in the traditional valuation model have some limitations in the value assessment of network video enterprises.Finally,the value drivers that affect all kinds of network video enterprises and the business characteristics of all kinds of network video enterprises are combined to improve the traditional DEVA value assessment model,and the corresponding network video enterprise cases are used to verify the applicability of the improved DEVA value assessment model.Most of current network video companies are exploring the market,to seek more effective flow form of liquid,so make the most of a variety of network video business characteristics,and online video companies in order to expand market share,will be more emphasis on the user,not particularly concerned about earnings,which makes most of the network video enterprise is in a state of negative profit,and profit ability is difficult to predict.These characteristics make it difficult for the original cash flow discount method and market method to be effectively applied in the value evaluation of network video enterprises.With the introduction of users,the user value and maintain the user cost of the DEVA model was improved,make the improved DEVA value evaluation model is more focused on the relationship between enterprises and users,making the original DEVA more rich valuation models in the parameter selection is reasonable,for follow-up researchers to study network video enterprise value assessment provides some ideas.