传媒行业周报：游戏行业有望迎来反弹，2025年春节档多部电影有望上映

Investment Rating - The report maintains an "Accumulate" rating for the industry, indicating a positive outlook for future performance [2][7]. Core Insights - The gaming industry is expected to rebound in 2025, with related sectors likely to benefit. DFC Intelligence forecasts a strong recovery for the video game industry, marking a new growth phase with a projected 15% increase in the PC and console game software market from a 2024 size of $72 billion to $83 billion by 2028 [5][12]. - The film industry anticipates multiple releases during the 2025 Spring Festival, which are expected to be competitive and beneficial for related sectors. Notable films include "Operation Dragon" and "Nezha: The Devil's Child" [6][12]. - The advertising sector is poised to benefit from the opening of the Beijing-Tianjin-Hebei Advertising Festival, with Fengtai District reporting a revenue growth of 39.3% in the first three quarters of 2024 [13]. Summary by Sections 1. Core Insights and Investment Recommendations - The gaming sector is projected to experience a rebound in 2025, with recommendations to focus on companies like 37 Interactive Entertainment, Kaixin Network, and Gigabit Network [7]. - The film sector is expected to benefit from the Spring Festival releases, with recommendations to monitor Bona Film Group and Wanda Film [7]. - The advertising sector is also expected to gain from the advertising festival, with suggestions to look at Focus Media and Zhiding Buy [7]. 2. Market Review - For the week of October 28 to November 1, the A-share Shenwan Media Index fell by 2.77%, underperforming the CSI 300 Index by 1.09 percentage points [8]. - The performance of sub-sectors within the media industry varied, with education up by 17.72% and publishing down by 7.32% [9][10]. 3. Industry News - DFC Intelligence predicts a strong rebound for the gaming industry in 2025, with significant growth expected in the PC and console game software market [12]. - Multiple films are set to release during the 2025 Spring Festival, including sequels to popular titles, which are expected to perform well at the box office [12]. - The Beijing-Tianjin-Hebei Advertising Festival has opened, with Fengtai District's advertising revenue showing impressive growth [13]. 4. Company Dynamics - China Film is currently working on multiple projects, including adaptations of classic works, with a strong project pipeline [14]. - Beijing Culture has confirmed the release of "Fengshen Part Two" during the 2025 Spring Festival [14]. 5. Company Announcements - Various companies in the media sector have reported their earnings, with notable changes in revenue and profit margins [16].