传媒行业周报系列2024年第42周：Q3游戏收入创历史新高，看好行业估值持续修复

Investment Rating - The industry rating is recommended [4] Core Insights & Investment Recommendations - The gaming industry revenue reached a historical high in Q3 2024, driven by new mobile game releases and the success of "Black Myth: Wukong," with total revenue of 91.766 billion yuan, a quarter-on-quarter increase of 22.96% and a year-on-year increase of 8.95% [3][20] - The report highlights that the mobile gaming segment generated 65.658 billion yuan, with a quarter-on-quarter growth of 20.20% and a year-on-year growth of 1.21% [3][20] - The report suggests that the industry valuation will continue to recover due to supportive policies, including interest rate cuts and liquidity measures, which are expected to boost market confidence and liquidity [3][20] - The report recommends focusing on three sectors benefiting from consumer spending: the film industry, the gaming industry, and Hong Kong internet stocks, with specific companies like Tencent and 37 Interactive Entertainment highlighted as potential beneficiaries [3][20] Market Overview - In the week of October 14-18, 2024, the Shanghai Composite Index rose by 1.36%, while the SW Media Index increased by 7.25%, ranking fourth among 31 sectors [2][14] - The gaming, internet services, and advertising sectors were the top performers, with increases of 9.89%, 9.87%, and 6.21% respectively [2][14] Industry Data - The report provides rankings for various media sectors, including top films, TV series, and games, indicating strong performance in the gaming sector with titles like "Honor of Kings" and "Peacekeeper Elite" leading the iOS revenue charts [4][7]