传媒行业周报：从谷子到首发经济到社交礼物经济 跨年迎贺岁春节档

Investment Rating - The report gives a "recommended" rating for the media industry [23]. Core Insights - The report highlights the transition from "Guzi Economy" to "Shoufa Economy," emphasizing the supply-demand contradictions within the industry. The Guzi Economy, which includes merchandise related to IPs such as anime and games, is projected to reach a market size of 168.9 billion yuan in 2024, growing by 40.63% year-on-year, and is expected to exceed 300 billion yuan by 2029. The Shoufa Economy, which focuses on the launch of new products and services, is supported by government policies aimed at enhancing urban commercial vitality and meeting consumer demand for high-quality living [2][13][21]. Summary by Sections 1. Industry Overview and Dynamics - The report discusses the performance of the media sector, noting that the virtual reality index has seen significant gains while the animation index has declined. The top three gainers in the week were Visual China, Yue Media, and Xindong Company, with increases of 21.34%, 14.74%, and 9.83%, respectively. Conversely, the largest decliners were Guangbo Co., Shengguang Group, and Fuchun Co., with declines of 26.53%, 19.95%, and 18.31% [20][22]. 2. Movie Market - The report outlines the upcoming film releases for the New Year and Spring Festival, highlighting titles such as "Qian Qian Xiang Ni" and "Wu Sha 3." It notes that the overall performance of cinema lines in 2024 has been underwhelming due to a lack of quality films. However, the report suggests that 2025 will see improvements driven by base effects, content supply, and supportive policies, recommending key cinema companies like Wanda Film, Hengdian Film, and Bona Film for investment [21][22][55]. 3. Key Company Recommendations - The report identifies several companies to watch in the media sector, including: - Wanda Film (002739) for its potential benefits from content recovery and AI technology development. - Hengdian Film (603103) for its upcoming films in 2025. - Mango Super Media (300413) for its successful overseas expansion strategies. - Aofei Entertainment (002292) for its AI and IP strategy in the toy sector. - Digital marketing leaders like BlueFocus (300058) and Zhejiang Wenlian (600986) for their strong partnerships and marketing capabilities [13][14][21][22].