传媒行业AI系列跟踪报告：组织+流量+资金+商业化优势下，字节AI布局全面领先，看好生态机会

Investment Rating - The report assigns a "Buy" rating for multiple companies in the media industry, including Light Media, Mango Super Media, Wanda Film, and others, indicating a positive outlook on their stock performance [4]. Core Insights - ByteDance maintains a leading position in the generative AI era due to its internal competition mechanism, long-term traffic accumulation, strong monetization capabilities, and solid financial strength [3][7]. - The Doubao AI model family has rapidly gained traction, with daily token usage exceeding 4 trillion by December 2024, marking a growth of over 33 times since its launch [7][49]. - The report emphasizes the importance of the AI ecosystem being built by ByteDance, which includes large models, application development platforms, and various consumer applications [7][43]. Summary by Sections 1. ByteDance AI Layout - ByteDance's AI strategy is divided into four layers: large models (Doubao), intermediate layers (AI application development platforms), application layers (C-end apps and AI hardware), and underlying technology architecture (cloud and data) [7][43]. - The Doubao model family includes various models such as general models, visual understanding, and music models, with significant updates announced in December 2024 [7][49]. 2. Intermediate Layer - The "Kouzi" platform significantly lowers the barrier for AI application developers, allowing users without programming skills to create various bots easily [56][58]. - As of December 2024, the Kouzi platform has over 1 million active developers and has published more than 2 million intelligent agents, covering multiple application scenarios [56][58]. 3. Application Layer - ByteDance's AI Q&A app "Doubao" has become the second most used AI application globally and the top in China as of November 2024 [63]. - The report highlights the success of other C-end AI applications, including the AI companion app "Cat Box," which has seen significant downloads and daily active users [63]. 4. Financial Strength and Market Position - ByteDance's strong financial capabilities support its AI initiatives, allowing for continued investment in model training and inference needs [3][7]. - The report suggests that the ongoing improvements in AI model capabilities and decreasing computational costs will enhance the potential for various industry applications, including gaming, film, marketing, and education [20].