传媒行业周观点：10月份AI应用流量增长超13%，11月112款游戏版号下发

Investment Rating - The report maintains an "Outperform" rating for the media industry, indicating a projected relative increase of over 10% compared to the broader market in the next six months [3]. Core Insights - The media industry experienced a decline of 2.06% last week, outperforming the CSI 300 index, which fell by 2.60%. The media sector's performance was better than the ChiNext index by 0.97 percentage points [22]. - In October, global AI application traffic increased by 13.64%, with total visits exceeding 6 billion. AI application advertising spending surpassed 400 million, marking a fivefold increase over the past six months [15][60]. - The gaming sector is expected to benefit from the stable issuance of domestic and imported game licenses, providing growth potential for new game supply [15]. Summary by Sections 1. Core Insights and Investment Recommendations - AI industry continues to show growth, with Chat assistant products leading in traffic increase. The focus remains on developing head products and exploring multi-modal applications [15]. - Investment suggestions include focusing on gaming companies with strong R&D capabilities and a rich game reserve, video platforms excelling in micro-short dramas, and companies with established AIGC applications [16][17][18]. 2. Media Industry Weekly Review - The media industry saw a decline of 2.06% last week, ranking 18th in the market. Year-to-date, the media sector has underperformed the CSI 300 index by 8.75 percentage points [22][24]. - The average daily trading volume for the media sector decreased by 7.82% compared to the previous week, with a total trading volume of approximately 376.77 billion [32]. 3. Industry News and Company Announcements - In November, 112 game licenses were issued, including 7 imported games, indicating a significant increase in the number of imported game licenses this year [60]. - The report highlights the success of "Black Myth: Wukong," which won the Golden Joystick Award for Game of the Year and was nominated for the TGA "Game of the Year" [60].