MANGO(SZ:300413) 3 6 Ke·2025-05-12 12:27Core Viewpoint - Mango TV has experienced a decline in viewership for its series following initial successes, indicating a potential issue with audience retention and the need for consistent quality content to maintain viewer interest [1][2][4]. Group 1: Series Performance - The viewership for Mango TV's series has shown a significant downward trend, with the average viewership for recent shows dropping below 1 million, contrasting sharply with earlier hits like "Guo Se Fang Hua" which had 40 million [2][3]. - The series "Guo Se Fang Hua" and "Wu Fu Lin Men" were outliers, achieving high viewership, but subsequent series have failed to replicate this success, indicating a broader issue with audience engagement [4][6]. - Mango TV's strategy of relying on older inventory series has not yielded the desired results, as newer series have not performed well despite being from established directors [6][12]. Group 2: Competitive Landscape - Compared to competitors like iQIYI and Tencent Video, Mango TV's series have struggled to maintain a baseline viewership of 1 million, with most of its recent series failing to achieve this mark [4][10]. - The overall performance of Mango TV's series in the first half of the year has been below expectations, with a significant gap in viewership compared to its competitors [4][9]. Group 3: Strategic Shifts - Mango TV is shifting its focus towards increasing the quantity and quality of its series to compete more effectively in the market, as evidenced by plans to release over 20 new series [6][10]. - The company has increased its investment in original content, with a reported 12% year-on-year increase in spending on series production [10][11]. - The upcoming series and collaborations with popular variety shows are seen as potential strategies to enhance viewership and attract new subscribers [14].