智通财经网·2025-09-11 02:52Core Viewpoint - The long video sector is currently at a low point, but with supportive policies, there is potential for a recovery in content supply and platform performance, leading to improved revenue for upstream film production companies [1] Group 1: Policy and Market Dynamics - The National Radio and Television Administration (NRTA) has issued measures to support long-form content, aiming to enhance content supply and stimulate market demand [1] - The long-form drama industry has undergone a market clearing, with supply and demand becoming more aligned [1] - Key policy directions include incentivizing quality content, releasing creative vitality, and improving review efficiency [1] Group 2: Industry Trends and Data - Since 2022, the number of filming registrations and distribution licenses for domestic online dramas has been decreasing, with a significant drop in the total number of productions from 1,670 in 2021 to 1,102 in 2024 [2] - The number of new dramas released on long video platforms has also decreased from 366 in 2021 to 271 in 2024 [2] Group 3: Production Chain and Content Strategy - The long drama production chain is extensive, with video platforms increasingly participating in the creation of original content [3] - Quality story IPs play a crucial role in the long drama industry, with many popular shows being adaptations of novels [3] - Platforms are focusing on enhancing original and customized content to improve project management and increase content output success rates [3] Group 4: Streaming Platform Performance - Despite short-term pressures, user demand for long-form content remains stable, although there is a slight decline in user engagement due to content supply reduction and lack of innovation [4] - Membership revenue is the core business model for long video platforms, with fluctuations in membership numbers based on content performance [4] - Continuous optimization of content supply and scheduling density is necessary to drive sustained growth in long video consumption [4]