长视频的中场战事：精品化、短剧和AI

Core Viewpoint - The long drama industry is facing significant challenges, with a noticeable decline in viewership and engagement despite an increase in the number of new series released [2][3][5]. Group 1: Long Drama Market Analysis - In the first half of 2025, long video platforms released 271 new series, a slight increase from 237 in the same period last year, but the average viewership per episode has drastically decreased [3][4]. - Only one series, "Bleach," achieved an average viewership of over 50 million, while only three others surpassed 40 million, indicating a severe drop in audience engagement compared to 2024 [3][4]. - The industry is experiencing a transformation phase, with a focus on high-quality productions as lower-quality series are being phased out [4][5]. Group 2: Shift in Content Strategy - Major platforms are shifting from betting on blockbuster hits to ensuring content quality and return on investment (ROI), emphasizing the need for a higher success rate in projects [6][7]. - Tencent Video is encouraging creators to focus on quality storytelling and project viability, while iQIYI aims to reduce the number of episodes but increase the overall budget for projects [6][7]. - The industry is seeing a decline in opportunities for mid-tier and emerging writers, as platforms prefer established creators with proven track records [9][10]. Group 3: Impact of Short Dramas - Short dramas are emerging as a potential growth area, with platforms like iQIYI and Tencent Video actively developing short-form content to compete with traditional long dramas [13][14]. - Despite the rise of short dramas, there are concerns about their ability to generate significant revenue compared to long dramas, as the latter still forms the core of major platforms' business models [17][18]. - The competition from short dramas is prompting long video platforms to enhance their content quality and explore new monetization strategies [16][17]. Group 4: Technological and Market Innovations - AI is being increasingly integrated into content production and user experience, with platforms like Tencent Video and iQIYI investing in AI technologies to improve efficiency and creativity [18][19]. - International expansion and IP monetization are also key strategies for platforms, with iQIYI and Tencent Video establishing partnerships and operations in various global markets [20][21]. - The current profitability of major video platforms relies heavily on cost-cutting and membership fee increases, indicating a fragile balance rather than sustainable growth [22].