米哈游跌出收入TOP20：内容向游戏遇冷，玩法向游戏升温？

Group 1 - The core observation is that the gaming industry is witnessing a shift from content-driven games to gameplay-driven games, with notable declines in the performance of content-focused titles like "Genshin Impact" and "Honkai: Star Rail" [1][8][15] - The rise of gameplay-driven games is attributed to the emergence of innovative gameplay types, particularly "playable mini-games" and the "search-shoot-retreat" genre, which have gained significant popularity [2][4][6] - The overall market performance indicates that while content-driven games are cooling off, gameplay-driven games are experiencing a resurgence, reflecting a return to the fundamental question of whether games are enjoyable [3][6] Group 2 - Content-driven games face challenges such as high development costs and long production cycles, making them less accessible for smaller developers, which limits overall market output [10][12] - The marketing costs for content-driven games are rising, with difficulties in effectively conveying the game's appeal through short advertisements, leading to lower ROI compared to gameplay-driven titles [13] - Content-driven games often have weaker social features, resulting in lower user engagement and retention, as players may seek more interactive experiences found in gameplay-driven games [14] Group 3 - The perceived "cooling" of content-driven games does not indicate a decline in demand for high-quality narratives; rather, it suggests a market correction where only games with exceptional experiences will thrive [15] - The relationship between gameplay and content is complementary, with both elements necessary for a successful game, indicating that the market is evolving rather than diminishing [15]