Research On The Enterprise Value Evaluation Of Internet New Media ——Take Feibo Co-creation As An Example

As the engine of the Information Revolution,digital technology is changing rapidly,the evolution and upgrading of production tools,production factors and infrastructure will be accelerated.Data has become a new factor of production,information network has become a new infrastructure,pushing the digital economy towards a new era of industrial Internet with network connection,data description,intelligent production and integrated development.Internet new media enterprises emerge,develop and mature gradually in this kind of environment.The concept of new media was first proposed in 1967 by Goldmark,director of the Institute of Technology of the CBS radio and television network,primarily in relation to the discovery of traditional media such as newspapers,radio and television,the so-called “new media” refers to the use of digital network technology,through the Internet,wireless communications,network satellite channels and mobile phones,computers and other terminals,to provide users with information and entertainment form of information dissemination.In the context of the Digital Economy,Internet new media enterprises are developing at a high speed and will also face greater uncertainties and risks.hence,It is of great significance for investors to reasonably evaluate the value of new network media.Because of the characteristics of Internet new media enterprises,such as high investment in early development,large share of intangible asset,high promotion cost,long return period and high instability,they are different from traditional enterprises,which are heavy in assets,therefore,the traditional evaluation methods applied to the Internet new media enterprises will make the evaluation results and its actual value of a large deviation.Firstly,this paper defines the Digital Economy and the Internet new media enterprises,and analyzes the limitations of the traditional evaluation methods from the factors affecting the value of the Internet new media enterprises and the evaluation characteristics,to find out the value evaluation method suitable for Internet new media enterprises under the Digital Economy,and put forward that the whole value of Internet new media enterprises should be divided into two parts: the existing value and the option value,the enterprise value is evaluated by the combination of income method and real option method.The EVA/B-S model is used to evaluate the Internet new media enterprises,and the relevant parameters of the model are analyzed,thus calculates the Internet new media enterprise value.In this paper,the representative Feibo co-creation in Internet new media enterprises is selected as a case study to validate the results of the value assessment of the case enterprises,so as to verify the feasibility of the assessment method.Finally,the paper summarizes the deficiencies in the research process of Internet New Media Enterprise Value Evaluation under the digital economy,and puts forward the prospect of further research,in this paper,the income method and the real option method are used to evaluate the value of the new media enterprises,which makes up for the shortcomings of the single evaluation method.