传媒行业周报（2024年第46周）

Investment Rating - The industry rating is "Outperform the Market" [5] Core Views - The media industry experienced a weekly increase of 7.25%, outperforming the Shanghai and Shenzhen 300 index, which rose by 5.50%. The industry ranked 9th among Shenwan's primary sectors, with a weekly trading volume of 308.03 billion yuan, showing a slight decrease [8][10] - All six Shenwan secondary sub-sectors saw gains, with the film and television sector leading at 8.73%, followed by digital media at 8.65% and game II at 8.25% [10][12] - The overall valuation of the media industry is relatively high, with digital media's valuation aligning well with its performance. Other sectors have a price-to-book (PB) ratio above 50% [12][13] Summary by Sections Market Review - During the week of November 4-8, 2024, the media industry rose by 7.25%, outperforming the Shanghai and Shenzhen 300 index's 5.50% increase, ranking 9th among Shenwan's primary sectors. The total trading volume was 308.03 billion yuan, indicating a slight decrease [8][10] - All six Shenwan secondary sub-sectors increased, with the following weekly gains: film and television at 8.73%, digital media at 8.65%, game II at 8.25%, advertising and marketing at 6.90%, publishing at 5.89%, and television broadcasting II at 3.49% [10][12] Industry Data Tracking - From October 28 to November 3, 2024, the number of moviegoers reached 12.12 million, a year-on-year increase of 19.46% but a week-on-week decrease of 20.74% [15] - During the same period, the number of movie screenings was 1.7019 million, with an average box office of 283.21 yuan, reflecting a year-on-year decline of 8.42% and a week-on-week decline of 25.53% [17] - The popularity of short dramas slightly decreased to 410 million [19] Industry News Summary - On November 4, 2024, the Game IP Ecosystem Conference was held, revealing that the sales revenue of China's game IP market in the first three quarters of 2024 reached 196.06 billion yuan, accounting for 82% of the actual revenue of the game market [20] - The game "Black Myth: Wukong" received a nomination for the 2024 Golden Joystick Awards for Game of the Year [21] - The China Network Audio-Visual Association released the "2024 White Paper on the Development of the Micro Short Drama Industry," indicating that the user base for micro short dramas reached 576 million by June 2024, representing 52.4% of the total internet users [21] - On November 8, 2024, Visual China and People's Creative Investment launched "AiPPT Government Edition," focusing on content review and data security [22] - On the same day, Zhihui introduced its AI video generation model "New Qingying," which can generate sound effects that match the visuals, marking a transition to the "talkie" era [22]