Investment Rating - The report maintains an "Outperform" rating for the media industry, indicating expected performance above the market over the next six months [2][3]. Core Insights - The media sector outperformed the Shanghai and Shenzhen 300 index, with a weekly increase of 7.25% compared to the index's 0.98% rise, ranking fourth among Shenwan's primary industries [6][10]. - The gaming sub-sector's price-to-book (PB) ratio has risen to over 50%, reflecting strong investor interest and valuation increases [2][10]. - The report highlights the continued growth in mobile gaming exports, with significant contributions from companies like miHoYo and Tencent, indicating a robust international market presence [18][19]. Summary by Sections Market Review - During the week of October 14-18, 2024, the media sector saw a total transaction volume of 247.17 billion yuan, with all six sub-sectors experiencing gains [6][10]. - The gaming sub-sector led the gains with a 10.83% increase, followed by film and television, advertising, digital media, publishing, and television broadcasting [7][8]. Industry Data Tracking - The number of moviegoers in the 42nd week was 12.837 million, a decrease of 8.97% year-on-year and a significant drop of 74.58% week-on-week [13]. - The average box office per screening fell to 298.81 yuan, although this represents a 26.21% increase compared to the same week last year [15]. - The popularity of short dramas remained stable, with a heat index of 440 million [17]. Industry News Summary - The report notes that in September, 35 Chinese companies made it to the global mobile game publisher revenue list, collectively earning 1.91 billion USD, which accounts for 36% of the total [18]. - The Chinese gaming market reached a record high revenue of 91.766 billion yuan in Q3 2024, marking an 8.95% year-on-year increase [19].
传媒行业周报（2024年第43周）
Mai Gao Zheng Quan·2024-10-22 12:42