没有“小杨哥”的三只羊难东山再起

Core Viewpoint - The company "Three Sheep" has resumed operations on its Douyin account "Three Sheep Network" after a long hiatus, but its performance is significantly lower than during its peak, indicating challenges in regaining market traction [2][6]. Group 1: Account Resumption and Performance - The "Three Sheep Network" account resumed broadcasting on January 12, 2024, after being inactive since September 2024, with approximately 50 products showcased [2]. - The sales revenue during the first broadcast did not exceed 250,000 yuan, with 420,000 views and a peak online audience of 3,900, which is considerably lower than the typical sales figures of top MCNs [2]. - Other accounts under "Three Sheep" have also resumed operations, including the self-operated brand account "Xiao Yang Zhen Xuan" and several key streamer accounts, but the flagship account "Crazy Xiao Yang" remains inactive [6]. Group 2: Business Strategy and Adaptation - Following the "Mooncake Incident" in 2024, the company has been gradually restoring its operations while exploring new business avenues, including private label products and overseas expansion [6][7]. - The company has been leveraging its supply chain capabilities to develop new revenue streams, including its own brand "Xiao Yang Zhen Xuan" and vocational training services [7]. - "Three Sheep" is one of the early adopters of overseas live-streaming, having launched its first overseas broadcast in Singapore in January 2024, and is focusing on Southeast Asian markets [7][12]. Group 3: Market Dynamics and Challenges - The decline of the core IP "Crazy Xiao Yang" has impacted the company's customer base, with current streamer follower counts ranging from 1 million to 10 million, while the official account has fewer than 10 million followers [12]. - The live-streaming landscape has shifted, with mid-tier streamers becoming the main growth drivers, contributing 45% of GMV, while top-tier streamers' market share has decreased [13]. - The overseas expansion strategy faces uncertainties, particularly in Southeast Asia where consumer spending power is limited, and challenges in entering Western markets due to cultural differences and logistics costs [13].