COL(SZ:300364) Zheng Quan Ri Bao Wang·2025-09-29 13:07Core Insights - The dynamic animation drama (漫剧) market is experiencing significant growth, with nearly 2000 new titles projected for August 2025, marking a 15% month-over-month increase and a total of 95 billion views [1][2] - The market is expected to reach a scale of 15 billion yuan this year, driven by a core demand from the 300 million Generation Z audience, who have a natural preference for two-dimensional content [1][2] - The industry is witnessing a shift from traditional live-action dramas to dynamic animation dramas due to lower production costs and a more favorable monetization model [2][3] Supply and Demand Dynamics - The supply of dynamic animation dramas has been expanding rapidly, with a compound growth rate of 83% from April to July 2025, while viewership and engagement metrics have also seen substantial increases of 92% and 105% respectively [3] - The demand side is robust, with a significant increase in viewership, as evidenced by multiple titles surpassing 100 million views in August 2025 [2][3] Market Structure and Competition - The market is becoming increasingly concentrated, with a few key players dominating the landscape, such as Jiangxi Guajiao Cultural Media, Zhengzhou Qixiang Cultural Communication, and Beijing Youhe Zhuoyi Information Technology, which collectively hold a significant share of the top titles [3] - Publicly listed companies like Zhongwen Online and NetEase are also entering the dynamic animation drama space, indicating a growing interest from established firms [3] Future Outlook and Challenges - The market is projected to exceed 20 billion yuan, with the number of related enterprises expected to grow exponentially [3] - However, the industry faces challenges such as the risk of content homogenization and the potential for low-quality content driven by a focus on viewership metrics [4][5]