阿里虎鲸文娱旗下IP业务“锦鲤拿趣”关停｜36氪独家

Core Viewpoint - The article discusses the challenges faced by the潮玩 (trendy toy) market, highlighting that not all brands can achieve the same success as Pop Mart, and it emphasizes the recent closure of Jinli Naju, a subsidiary of Damai Entertainment, due to poor performance and low revenue contribution [4][8]. Group 1: Company Developments - Damai Entertainment, formerly Alibaba Pictures, has decided to shut down its fully-owned subsidiary Jinli Naju, citing poor operational performance and minimal revenue contribution compared to its parent company, Tiger Whale Entertainment [4]. - Jinli Naju's revenue for 2024 is projected to be less than 500 million RMB, which accounts for only about 2% of Tiger Whale Entertainment's total revenue of 22.267 billion RMB for the 2025 fiscal year [5]. - The closure of Jinli Naju is part of a broader restructuring within Tiger Whale Entertainment, which is shifting its focus from film reliance to more profitable areas such as live performances and IP development [6][7]. Group 2: Market Context - The潮玩 market has gained significant attention, particularly following the success of Pop Mart, but the article notes that not all brands can replicate this success [8]. - Tiger Whale Entertainment's revenue from its film business has been declining, while its income from live performances and IP derivative products has been increasing, indicating a strategic pivot in response to market trends [7].