传媒互联网行业周报：AppStore在美开放第三方支付，关注“苹果税”变革-20250512

Investment Rating - The report maintains a "Positive" investment rating for the media internet industry [4]. Core Viewpoints - The recent update from Apple allowing third-party payment options in the App Store is expected to enhance profit margins for app developers in the U.S. market, particularly benefiting companies with significant revenue from content apps [5]. - The integration of AI in gaming is highlighted as a potential growth area, with recommendations to focus on companies exploring AI+gameplay innovations [6]. - The upcoming release of key films and the performance of major cinema chains are areas of interest, especially with the summer box office approaching [7]. - The report emphasizes the importance of AI applications and the potential for value reassessment in leading internet companies as they adapt to new technologies [8]. Summary by Sections Media Industry Performance - From May 6 to May 9, 2025, the Shanghai Composite Index increased by 1.92%, while the Shenzhen Component Index rose by 2.29%. The media sector ranked 24th among all industries with a gain of 1.4% [14][17]. Key Developments - The App Store's new guidelines allow developers to direct users to third-party payment channels, breaking the "Apple Tax" [5]. - AI and entertainment integration is being pursued through strategic partnerships, indicating a trend towards deeper industry collaboration [22]. - The report notes the upcoming 520 online release event by NetEase Games, showcasing new game titles [23]. Company Announcements - AppLovin reported better-than-expected earnings for Q1, with revenue of $1.48 billion and an adjusted EBITDA of $1.01 billion, indicating strong performance in the advertising sector [24]. AI Investment Trends - Six AI-related financing events occurred in the week of May 5 to May 9, with significant investments in companies focusing on AI models and intelligent platforms [28]. Gaming Sector Insights - The iOS gaming chart shows "Honor of Kings" maintaining its top position, with "Peacekeeper Elite" and "Endless Winter" following closely [30]. Film and Television Performance - The total box office for the week reached approximately 225.44 million yuan, with "Dumpling Queen" leading the charts [36]. - The drama "A Good Life" achieved a viewership of 214 million, securing a 15.33% market share [38]. Variety Show Performance - "Riding the Wind 2025" topped the variety show rankings with a 14.12% market share, showcasing strong competition among streaming platforms [40].