LETV issued a Clarification Announcement in response to alleged manipulation of performance media re

April 23rd evening news, recently some media LETV questioned the alleged manipulation of performance reports, the LETV announcement to clarify in shenzhen.

LETV announcement disclosed some evidence of their own performance operation data authenticity, LETV said Ai Rui LETV according to March 2012 statistics, the per capita single page effective browsing time of 10 minutes and 39 seconds, ranking first in the industry; the number of monthly coverage of more than 123 million 700 thousand, in Web major video website fourth;

as of December 31, 2011, LETV said the total bandwidth of 843G, the total number of servers is about 2700 units. Up to now, the total bandwidth LETV has reached 1.1T, the average daily traffic (PV) is about 65 million, the highest peak of more than 80 million, the total number of servers is about 3000 units.

is as follows:

part of the media published a paper entitled "LETV on accounting income in violation of the principle of proportion beat Youku potatoes manipulation performance?" and "LETV illusion" article, the article pointed out: LETV rely on accounting practices beat Youku potatoes, with intent to manipulate the results; music as net in advertising revenue, the number of paying users the TV drama copyright, the number of its published data is not serious, significant doubt or suspicion of fraud.

music copyright distribution revenue recognition principles and methods

LETV copyright distribution business revenue recognition method in accordance with the provisions of the accounting standards for enterprises. LETV copyright distribution business is LETV and other film and television content production companies signed the "TV drama" exclusive network copyright licensing contract based on the obtained is a television drama broadcast network, resale rights, copyright and distribution is the network broadcast rights delivered to LETV customers, the accounting income, should stipulate the right income basis for the use of "Enterprise Accounting Standards No. fourteenth -" the fourth chapter of asset transfer income.

the provisions of the seventeenth conditions for the transfer of the right to use the assets to confirm the income conditions are clear, (a) the relevant economic benefits are likely to flow into the enterprise; (two) the amount of revenue can be measured reliably." "Enterprise accounting standards on" (2008 version) to confirm the Abalienating the right to use assets for a further explanation "if the contract or agreement to provide a one-time charge royalties, and does not provide Follow-Up Services, shall be regarded as the asset sales confirmation disposable income; provide Follow-Up Services, should be in the validity period stipulated in the contract or agreement the staging of revenue recognition."

due to LETV copyright distribution business use fee is a one-time charge, and does not provide Follow-Up Services, LETV to determine the distribution of copyright business revenue recognition methods: "confirmation basis: Based on the distribution of copyright contract, in giving authority and receive authorization fee or charge licensing fees right after confirmation of income."

Using the straight-line amortization method

LETV the rationality of

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