传媒行业周报系列2026年第9周：AI大厂主动下场推广“养虾”，MiniMaxM2日均Token消耗量激增

Investment Rating - Industry Rating: Recommended [4] Core Insights & Investment Recommendations - Major companies like Tencent are actively promoting OpenClaw, marking a breakthrough in AI monetization. The local deployment of intelligent agents is transforming complex tasks into low-cost, high-consumption "Token black holes," with token consumption for complex tasks potentially exceeding that of ordinary conversations by over a hundred times. This shift allows cloud vendors to transition from "selling computing power" to "promoting agents," creating sustainable cash flow opportunities from significant capital expenditures [2][21] - The MiniMax M2 series has seen a surge in usage, with daily token consumption increasing to over six times that of December 2025, particularly in programming packages, which have grown by more than ten times. The M2.5 model has achieved top-tier performance in productivity scenarios, with operational costs as low as 1 USD per hour for complex agents, enabling unlimited economic scalability. This evolution in AI applications from single interactions to continuous, complex automation tasks is driving exponential growth in model text usage, providing sustained revenue growth for cloud vendors' API streams [3][22] - Current rapid development in AI applications, coupled with a rebound in entertainment consumption, presents several investment opportunities: 1) Hong Kong internet leaders, which promote consumption and stabilize employment; 2) The gaming industry, which benefits from policy incentives boosting domestic demand and technological empowerment enhancing product competitiveness; 3) The film and cultural tourism industry, where consumption policies are aiding cinema recovery and stimulating demand for improvement [6][22] Sub-industry Data Film Industry - The top three films this week are "Flying Life 3" with a box office of 94,822.7 thousand CNY (48.10% market share), "Biao Ren: Wind Rises in the Desert" with 34,787.9 thousand CNY (17.60%), and "Silent Awakening" with 26,230.1 thousand CNY (13.30%) [23][24] Gaming Industry - The top three iOS games are "Honor of Kings," "Peacekeeper Elite," and "Gold Shovel Battle," while the top three Android games are "Heart Town," "Diver Dave," and "Minecraft: Mobile Edition" [25][26] TV Series Industry - The top three TV series based on broadcasting index are "Taiping Year," "Eliminate Evil," and "Love in the Pure Era," with indices of 80.3, 79, and 78.8 respectively [27][28] Variety Shows & Animation - The top variety show is "Now Departing Season 3" with a broadcasting index of 69.6, followed by "The Strongest Brain Season 13" and "Hello Saturday 2026" [29][30] - The top three animations are "Happy Hammer," "Xian Ni," and "Beyond Time," with indices of 288.1, 234.4, and 229.5 respectively [30][31]