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Chapter 167 - 167: Major Earthquake in the Live Streaming Industry

Chapter 167: Chapter 167: Major Earthquake in the Live Streaming Industry

In the blink of an eye, a week had passed.

That day.

A major earthquake shook the live-streaming industry.

As more and more consumers complained about the sale of counterfeit and inferior products by streamers and the situation showed an escalating trend, it was feared that if no action was taken, even bigger issues would arise.

The relevant state departments launched a heavy crackdown to rectify the issue of fake and inferior products being sold in the Douyin live-streaming industry.

Douyin actively cooperated with the rectification and acted swiftly.

Following the investigation and collection of evidence, a group of guilds was immediately penalized.

There were a total of thirty guilds in this group.

The penalties are as follows.

First, all streamers of the guild were suspended for one month for rectification; during the suspension period, they could not live stream or post short videos.

Second, the guilds were downgraded by one level in their rating; after rectification, they would be re-evaluated based on the guild’s development and size.

Third, streamers who sold a significant amount of counterfeit and inferior products were banned!

These three severe penalties caused an immediate outcry among the thirty guilds.

It was well known that a guild’s one-month suspension could lead to huge financial losses.

The downgrade of the guilds significantly affected their profit-sharing with the platform.

The higher the level, the greater the profit-sharing.

Conversely, the lower the level, the lesser the profit-sharing.

After this rectification, restoring the original rating after resumption would be extremely difficult.

As for the third point, it was even more severe.

It was mainly the top streamers who sold the most counterfeit products for vast amounts.

Generally, each guild relied on their top streamers to make big money.

The other streamers could only earn a little.

The banning of these streamers was like a heavy blow to the guilds.

It left them crippled, barely clinging to life.

It’s worth mentioning that Jia Sheng Guild, being a pioneer in engaging stars to help sell products, had created a preconceived notion among viewers; Jia Sheng Guild’s celebrity-endorsed sales had always been the best.

The top streamers who collaborated with celebrities had the highest sales.

The state and Douyin decided to set an example by placing Jia Sheng Guild at the top of the list of penalties.

The official announcement also stated that subsequent penalty lists would continue to be released until the problem of fake and inferior products being sold on Douyin’s live streams was completely rectified.

Furthermore, the rectification would start with Douyin and extend to the entire live-streaming e-commerce industry.

No one would be spared!

In an instant, all live-streaming guilds involved in the sale of counterfeit and inferior products felt a chill in their hearts.

…

Fengcai Guild.

“President Xu, you are truly amazing. You had predicted this earlier, saying that it was only a matter of time before a scandal would erupt. Thankfully, we strictly controlled our product quality and sold only reliable branded products, allowing us to avoid being affected by this earthquake.”

Xiao Dongsheng was filled with admiration for Xu Yang.

This boss was indeed formidable.

The accuracy of his judgments was chillingly precise.

Every strategic decision he made was unapproachable.

The streamers he signed had all become internet celebrities.

He had anticipated that Douyin would introduce a live streaming with goods feature, and Fengcai Guild had become a pilot guild for Douyin’s live-streaming sales, the first to taste the crab, reaping huge profits.

When the trend of celebrities live-streaming with goods emerged, Xu Yang provided clear partnership terms.

Eventually cooperating with Hua’an Film and Television, it turned out to be a win-win situation, with Fengcai Guild gaining the most benefit.

Especially the relentless emphasis on selling reliable branded products, which avoided this round of implosion.

All the other guilds are panicking and wailing, but within the big guilds, only Fengcai Guild has remained unaffected.

Without a doubt, after this turmoil, Fengcai Guild is definitely the number one guild on Douyin, with no one able to shake its status.

“No matter when, we must stick to our original intentions and not focus solely on short-term benefits at the expense of greater long-term gains,” Xu Yang said.

“Yes, President Xu, I truly realize your strategic wisdom now. Following a leader like you is a fortune for all our company’s employees,” Xiao Dongsheng flattered Xu Yang.

“Old Xiao, you’re praising me a bit too much, I’m starting to feel embarrassed,” Xu Yang laughed heartily.

It has to be said, being flattered is quite comfortable.

“President Xu, I’m just telling the truth,” Xiao Dongsheng said with a serious face.

“Haha,” Xu Yang laughed again, then quickly sobered up, “What do you think we should do now?”,

This was his main reason for coming today. He didn’t state it directly but decided to first hear Xiao Dongsheng’s thoughts.

“President Xu, I’ve been thinking about this issue before you came. I think we can increase the number of live-commerce sessions for our streamers.”,

“After all, with the market in such a state of disaster, our guild remaining unaffected highlights our reliability and credibility, dealing in quality, consumer-trusted brand products.”,

“Moreover, we can have the streamers occasionally mention this during their live sessions, to make more viewers aware of it.”,

“If we handle this well, our guild will definitely become the top guild on Douyin, and nobody will be able to shake our position.”,

After the incident occurred, Xiao Dongsheng felt relieved, but he quickly realized that this was also an opportunity for Fengcai Guild.

As long as they seize it, Fengcai Guild will rise to greater heights.

“You’re right, that’s what I think too. Go ahead and pass down the instruction, let the streamers do just that.”,

“Live streaming is very tough, I think we can do this: for the next month, the streamers’ normal live-commerce sessions will retain the same revenue share. For the additional sessions, we can increase the streamers’ revenue share by thirty percent as a reward, which will motivate them even more.”,

Xu Yang said.

“President Xu, you’re too generous. With a thirty percent increase in their commission, I believe the streamers will be overjoyed,” Xiao Dongsheng chuckled.

Indeed, that’s the case.

For streamers, live-selling is all about the commission.

The increased thirty percent commission is very generous.

Many streamers will surely do their utmost to add sessions.

“The support staff needs to ensure back-end services are well provided and prevent them from overworking. We need to balance work with rest. If someone collapses during a live stream, that would be a real loss. Pay special attention to this,” Xu Yang instructed.

If a streamer collapses, as long as it isn’t serious, it won’t be too impactful.

But if a streamer were to die suddenly from exhaustion, that would be a serious matter.

That isn’t what he wants to see.

Earning money is fine, but it must be balanced with rest. You can’t put money before lives.

“Yes, I’ll have someone keep an eye on it, to make sure that doesn’t happen,” Xiao Dongsheng said solemnly.

Without Xu Yang’s reminder, he wouldn’t have considered this.

It seems the boss really is the boss, not someone he can compare with.

The two chatted for a while longer, then Xiao Dongsheng went off to get busy.

…

KaiXuan Investments.

Chen Guanglei, in his office, was looking at the news with an extremely unsightly expression.

He had intended to wait and see how things unfolded, but before he could catch any wind of it, the government and Douyin began the crackdown.

If he’d known, he would have listened to his father and sold the guild.

Now, the money made has been washed away, with compensation and fines amounting to astronomical figures.

After this crackdown, Jia Sheng Guild will likely become a third-rate guild.

It might even face closure.

Two words, it’s over!

At that moment, the door opened and Chen Guanglei’s father, Chen Ankang, entered.