传媒行业深度报告：全球竞争出海系列-如何破局取新增之供需角度

Investment Rating - The report maintains a recommendation for investment in the industry [2] Core Insights - The global cross-border e-commerce market is expected to reach a scale of $2.4 trillion by 2028, with a CAGR of 11.4% from 2023 to 2028 [3][15] - The Z generation, which comprises over 2 billion people globally, is anticipated to drive significant new demand, with their spending power projected to reach $12.6 trillion by 2030 [5] - The rise of digital marketing, particularly through platforms like TikTok, is reshaping the advertising landscape, with the global digital marketing market expected to reach $919.7 billion by 2027 [4][47] Supply Side Summary - In 2023, China's cross-border e-commerce import and export total reached 2.38 trillion yuan, a year-on-year increase of 15.6%, with exports growing by 19.6% [3][13] - Emerging platforms in China's cross-border e-commerce are rapidly rising, with significant growth potential in countries along the "Belt and Road" initiative due to lower internet penetration [3][13] - The digital marketing sector is also a significant market, with a projected CAGR of 10.8% from 2023 to 2027, indicating a shift in advertising budgets towards platforms like TikTok [4][50] Demand Side Summary - The Z generation is characterized by a global consciousness and is expected to redefine various sectors, including commerce and culture [5] - By 2024, over 19.58% of the global population and 29% of internet users are projected to be using TikTok, highlighting its potential as a major platform for e-commerce [6][30] Investment Pathways - Companies like Alibaba, Pinduoduo, and Meituan are leveraging their capital advantages to explore cross-border e-commerce opportunities [6] - The report suggests monitoring companies such as Mango TV, BlueFocus, Wanda Film, and Aofei Entertainment for their progress in international markets [6] Company Focus and Profit Forecast - A selection of companies is highlighted with their respective investment ratings, including: - Aofei Entertainment: Buy [7] - Yaoji Technology: Buy [7] - Wanda Film: Buy [7] - Lisheng Sports: Buy [7] - Huace Film & TV: Buy [7] - Light Media: Buy [7] - CITIC Publishing: Buy [7] - New Classics: Buy [7] - Fengyuzhu: Buy [7]