Research On The Value Co-creation And Performance Of "Breaking The Circle" Strategy In Bilibili

In recent years,online video has developed rapidly and become the main channel for people to enjoy leisure and obtain information.In 2020,the State Administration of Radio,Film and Television issued the "Fourteenth Five-Year Plan" for the Development of Radio,Television and Network Audiovisual Programs,encouraging the development of new media transmission methods such as short video,and improve the quality and quality of Internet audio-visual programs.With the continuous innovation of the online video platform,the participants and their roles of the platform are also changing.This phenomenon has gradually changed the logic of the platform’s absolute dominance,presenting the trend of users’ participation in value creation.Based on this,this paper selects BILIBILI as a case to study its value co-creation and performance evaluation under the strategy of "breaking the circle".First of all,it briefly introduces BILIBILI and its "breaking the circle" strategy and analyzes the reasons and measures for implementing the strategy.Secondly,the co-creation value model is analyzed from the four dimensions of value supply,value creation subject,resource integration and value realization.Then,build a performance evaluation system for the value co-creation model.From the perspective of finance,a financial performance evaluation system focusing on profitability and analyzing its establish entrepreneurial ability,payment ability and development ability;From a non-financial perspective,the company’s brand power,user value,and platform ecology are evaluated with multiple indicators.Finally,we put forward optimization suggestions for the "breaking the circle" strategy of BILIBILI.Through performance evaluation,this paper shows that the value co-creation mechanism of BILIBILI has a positive impact on productivity,especially in terms of income generation,asset operation,user scale expansion and brand power improvement.However,in terms of finance,BILIBILI still faces the problem that the net loss is difficult to reverse;In terms of non-financial aspects,video creators cannot do without the continuous incentives of the platform.Once the platform reduces incentives,creators cannot realize high-quality cash.Finally,this paper proposes to reduce costs and increase efficiency by continuing to tap the potential of vertical screen mode and expand new businesses;Expand users by increasing user penetration in small cities;Maintain the continuous output of video creators by improving the fireworks platform or other customized advertising channels;Maintain the community atmosphere by strengthening the content review and improving the supervision system.Theoretically,this paper contains more valuable co-creation subjects.An example of this study is the dynamic interactive online video platform.When studying the value co-creation model,users are divided into clear roles,and more relevant subjects with research value,including content copyright and game suppliers,advertisers and mainstream media,are included in the research of value co-creation.When constructing the performance evaluation system,this paper innovatively takes "platform ecology" as a performance dimension,and evaluates BILIBILI that attaches importance to the construction of community culture and user experience,which can find important hidden dangers under its rapid development.