传媒行业周报：文创消费快速增长，多个游戏版号获批

Investment Rating - The report maintains an "Accumulate" rating for the media industry [2]. Core Insights - Cultural consumption is rapidly growing, benefiting related industries. In the first half of this year, large-scale cultural and related enterprises achieved operating income of nearly 6.5 trillion yuan, a year-on-year increase of 7.5% [12][31]. - The market size of cultural products reached 16.38 billion USD in 2023, with a year-on-year growth of 13.09% [12][31]. - The digital advertising sector is receiving support from government initiatives aimed at promoting high-quality development, signaling strong governmental backing for the industry [12][31]. - A total of 1,281 games have been approved for release in the first eleven months of the year, surpassing last year's total of 1,075 games, which is favorable for the gaming sector [14][32]. Summary by Sections 1. Core Insights and Investment Recommendations - Cultural consumption is on the rise, positively impacting the entire industry chain. The report suggests focusing on companies like Guobo Co., Chuangyuan Co., and Aofei Entertainment in the cultural sector [15]. - In advertising, recommended companies include Focus Media and Yidian Tianxia [15]. - For the gaming sector, companies such as 37 Interactive Entertainment, Kying Network, and Gigabit are highlighted [15]. 2. Market Review 2.1. Sector Performance - The A-share Shenwan Media Index fell by 2.06% during the week of November 18-22, outperforming the CSI 300 Index by 0.53 percentage points [18]. - Among the sub-sectors, the performance ranked as follows: Digital Media (-0.21%), Advertising Marketing (-1.17%), Film and Television (-1.81%), Gaming (-2.69%), Television Broadcasting (-2.82%), Publishing (-3.04%), and Education (-11.83%) [18][19]. 2.2. Individual Stock Performance - The top ten stocks by weekly performance included: - Shengyibao (+38.27%) - Tianyu Digital Science (+23.32%) - Fuchun Co. (+22.32%) - Xinghui Entertainment (+16.36%) - Yidian Tianxia (+15.88%) [28]. - The bottom ten stocks included: - Zhongguo Tianze (-19.29%) - Simi Media (-16.27%) - Tiandi Online (-15.28%) [28]. 3. Industry News - The cultural consumption sector is experiencing rapid growth, with significant increases in revenue and market size [31]. - The Beijing Municipal Administration has issued guidelines to promote the digital advertising industry, emphasizing its importance in economic growth [31]. - The approval of 1,281 games in 2023 indicates a robust gaming market, with notable titles gaining significant attention [32].