传媒行业周报：中国原创游戏IP平稳发展，微短剧的市场规模有望首次超过内地电影票房

Investment Rating - The report maintains an "Accumulate" rating for the media industry [1][7]. Core Insights - The development of original game IPs in China remains stable, with the market size reaching 94.58 billion yuan, accounting for 48.2% of the domestic game market [5][13]. - The micro-drama market is expected to surpass the box office revenue of domestic films for the first time, with a projected market size of 50.44 billion yuan in 2024, representing a year-on-year growth of 34.90% [6][13]. - The Amazon Advertising global annual summit "unBoxed" has landed in Shenzhen, indicating potential benefits for related sectors, with a significant increase in active Chinese advertisers [14]. Summary by Sections 1. Core Insights and Investment Recommendations - The report highlights the stable development of original game IPs, suggesting a focus on companies like 37 Interactive Entertainment, Kingsoft Network, and Gigabit Network [7]. - The micro-drama sector is projected to grow significantly, with recommendations to pay attention to Mango Excellent Media and Zhejiang Cultural Industry Group [7]. 2. Market Review - The A-share Shenwan Media Index rose by 7.25% from November 4 to November 8, outperforming the CSI 300 Index by 1.75 percentage points [8]. - Among the sub-sectors, the film and television box office sector increased by 8.73%, while the education sector saw a decline of 0.45% [8][9]. 3. Industry News - The report references the "2024 China Game Industry IP Development Report," indicating a stable market for original game IPs [13]. - The "2024 China Micro-drama Industry Development White Paper" predicts a significant increase in the micro-drama market, with user numbers reaching 576 million by mid-2024 [13]. - The Amazon Advertising summit showcased trends in global marketing, with a notable increase in active Chinese advertisers [14]. 4. Company Dynamics - Focus on companies like Focus Media, which was recognized as one of the most admired Chinese companies in 2024 by Fortune [15]. - Xinhua Du is expanding into live e-commerce and short video sectors, establishing bases in key cities [15]. 5. Company Announcements - Tian Di Online plans to acquire 100% of Jiatu Group through a combination of stock issuance and cash payment [16]. - Visual China is investing in a venture fund, while *ST Wento is undergoing restructuring with new investment agreements [16].