Mei Ri Jing Ji Xin Wen·2025-10-10 04:23Core Viewpoint - The cultural media sector in the A-share market experienced a decline following the National Day and Mid-Autumn Festival holidays, with significant drops in stock prices for several companies involved in this year's National Day film releases [2][6][7]. Group 1: Film Market Performance - The National Day film market in 2025 generated a total box office of 18.35 billion yuan, with an average ticket price of 36.64 yuan, marking the first time in five years that the average price fell below 40 yuan [6][11]. - The box office performance was notably lower than previous years, only surpassing the figures from 2016 and 2022, and significantly down from the peak of 44.7 billion yuan in 2019 [6][9]. - The top three films during the National Day period contributed only 60% of the total box office, the lowest since 2016, with the leading film, "The Volunteer Army: Blood and Peace," earning 4.5 billion yuan [7][8]. Group 2: Audience Trends - There is a noticeable shift in the audience demographic, with over 50% of ticket buyers being aged 35 and above, while the youth demographic (under 18) has dropped to 2.6% [11][12]. - The younger audience is increasingly opting for travel and experiential activities over cinema, with 95% of post-95 tourists accounting for nearly a quarter of the total during the holiday [12][11]. Group 3: Industry Transformation - The film industry is exploring new growth avenues beyond box office revenue, focusing on the integration of film and tourism, which is becoming a new trend [12][16]. - Companies like Light Media are actively developing IP-related businesses, with a reported gross margin of 80.03% in their film and related derivative businesses [17]. - The industry is also seeing a rise in the development of themed products and experiences related to films, as evidenced by the success of derivative products linked to popular IPs [17][18].