Core Viewpoint - Jay Chou has transformed from a singer to a business mogul, creating a vast commercial ecosystem centered around his personal IP, which spans music copyrights, concert economics, brand endorsements, and capital operations [2][4]. Group 1: Foundation of the Empire - The foundation of Jay Chou's commercial empire is his music works, which continue to generate significant revenue despite a decrease in new album releases [4]. - After leaving Alpha Music in 2007, he founded JVR Music and took valuable music copyrights with him, leading to a lucrative partnership with Sony Music [4]. - In 2018, Tencent Music acquired exclusive rights to Jay Chou's music for 570 million yuan over three years, setting a record in Chinese music copyright transactions [5]. - His 2022 album "The Greatest Works of Art" sold nearly 3 million copies on QQ Music on its first day, generating approximately 90 million yuan in revenue [5]. Group 2: Concerts as Revenue Generators - Jay Chou's concerts are described as his "printing machine," with projected total revenue of 2.3 billion yuan from 42 shows in 2024 [10]. - His concerts sell out quickly, with a secondary market price increase of 400%-1000%, demonstrating his dominance in the ticketing market [13]. - The integration of concert planning and merchandise through affiliated companies enhances profitability and creates a comprehensive consumer experience [15][16]. Group 3: IP Securitization - Jay Chou's business model exemplifies "IP securitization," with his company, Giant Star Legend, listed on the Hong Kong Stock Exchange, serving as a core vehicle for his brand [18]. - The company reported a revenue of 584 million yuan in 2024, with a 65% year-on-year growth in IP-related business [18]. - The "Jay Chou effect" illustrates his ability to influence market valuations significantly, as seen with a 94% stock price surge for Giant Star Legend following his Douyin debut [19]. Group 4: Fan Economy - Jay Chou's fan base spans three generations, creating a unique emotional connection that translates into substantial consumer spending [22]. - His entry into live streaming attracted 68 million viewers in 2020, showcasing the immense engagement of his fan base [23]. - The emotional consumption behavior of his fans leads to a closed-loop purchasing cycle, contributing to the financial resilience of his brand [25]. Group 5: Unique Business Model - Jay Chou's model is difficult to replicate due to his accumulation of classic works during the peak of Chinese pop music and his team's ability to seize commercial opportunities from technological changes [26]. - His transition into a programmable IP system through digital avatars and AI indicates a shift towards virtual space, expanding his commercial value beyond physical limitations [27].