Zhi Tong Cai Jing·2026-04-01 06:21Core Viewpoint - The rapid development of short videos is significantly impacting the gaming industry in terms of average user time, with game development lagging behind the fast updates of short videos. However, with the advancement of AI technology, the gaming industry is expected to accelerate its development and iteration, potentially expanding the overall market space for games [1][2]. Group 1: Impact of Short Videos on Gaming - The gaming industry is facing substantial challenges due to the rise of short videos, which have a projected penetration rate of 91.2% by December 2025, with an average monthly usage time of 65.5 hours [1]. - The gaming sector is not experiencing intense internal competition, as each game has its own stable consumer base. However, the emergence of short videos has created significant disruption [2]. Group 2: Future of Gaming in the AI Era - In the AI era, leading gaming companies are expected to focus more on core business areas such as IP operation, game distribution, and overall design, while outsourcing production, operations, and customer service [3]. - The traditional gaming giants are likely to thrive in the AI era, as the complexities of IP operation and game design cannot be easily replaced by AI, ensuring that smaller teams will collaborate with larger companies rather than disrupt them [3]. Group 3: Market Dynamics and Opportunities - As game iterations and updates accelerate in the AI era, larger games are expected to become more comprehensive, making it difficult for new games to disrupt the existing market. This will likely enhance the survival space for traditional gaming leaders [4]. - The report maintains a positive outlook on leading gaming companies such as Century Huatong (002602.SZ), Giant Network (002558.SZ), and Kaiying Network (002517.SZ), among others [5].