传媒行业周报2024年41期：游戏大盘9月回暖，Q4多款游戏产品计划上线

Investment Rating - The report maintains an "Overweight" rating for the media industry, consistent with the previous rating [2]. Core Insights - The gaming market shows signs of recovery, with significant product launches planned for Q4 2024, indicating potential performance improvements for industry companies in the upcoming quarters [5][11]. - The media (Shenwan) index increased by 7.25%, ranking 4th among 31 industries, outperforming major indices such as the Shenzhen Composite Index and the Shanghai Composite Index [5][7]. - The actual sales revenue of China's gaming market from January to September 2024 reached CNY 239 billion, reflecting a year-on-year growth of 4.6% [8][10]. Summary by Sections 1. Gaming Market Recovery - The gaming market began to recover in September, with mobile gaming showing over 10% year-on-year growth [8][10]. - Revenue for August and September was CNY 33.6 billion and CNY 30.3 billion, respectively, with year-on-year growth rates of 15.1% and 14.9% [8][10]. 2. Upcoming Product Launches - Multiple key products are scheduled for release in Q4 2024, including titles from Tencent and NetEase, which are expected to enhance market performance [11][12]. - Companies with strong product pipelines and competitive advantages, such as Kaineng Network and 37 Interactive Entertainment, are recommended for investment [11][12]. 3. Recommended Stocks - The report suggests focusing on companies with high growth potential in niche segments, recommending stocks such as Kaineng Network, 37 Interactive Entertainment, and Perfect World [5][7]. - Beneficiary stocks include Tencent Holdings, Shenzhou Taiyue, and Giant Network, which are expected to perform well due to their product offerings [11][12].