Zheng Quan Shi Bao Wang·2025-10-27 23:57Core Insights - The report from CITIC Securities highlights the explosive growth of animated dramas (漫剧) this year, driven by AI advancements and the potential for IP (intellectual property) enhancement [1] Group 1: Reasons for Growth - The growth of animated dramas is attributed to AI development, which has reduced production costs and cycles, making them competitive with live-action short dramas and contributing to the micro-short drama market expansion [1] - Support from long, medium, and short video platforms has driven supply growth due to high ROI (return on investment) [1] Group 2: Future Outlook - CITIC Securities is optimistic about animated dramas not only achieving industry growth but also driving the overall film and television industry and derivative markets [1] - The high growth of animated dramas is linked to AI-assisted adaptations of diverse genres such as fantasy and science fiction, allowing high-production-value IPs to be realized, with significant incremental space due to complementary user profiles with live-action short dramas [1] - Animated dramas, with their low-cost and short-cycle advantages, are expected to serve as experimental grounds for the film industry, facilitating the transition from short to long dramas through market validation and IP incubation [1] - Seasonal broadcasts and character or IP account operations are expected to amplify the effects of IP, fostering the derivative market for animated dramas [1]