那么，进入2026年后，没有了《哪吒2》《疯狂动物城2》等爆款，IP的生意如何做下去，这会是摆在中 国影视人面前的一个课题。 不稳定的市场亟须稳定的收入 稳定的收入，对于过去几年的中国影视行业而言，十分难得。从上市公司的财报数据来看，国内几乎没 有在收入、净利润、经营活动产生的现金流净额等方面持续增长或保持稳定的影视公司，依赖出品的影 视剧，希冀成为爆款是过去几年的常态。 "这其实也是全球影视行业的常态，只不过像美国、日本等国的很多影视公司在IP授权、衍生业务方面 做得很成熟，所以收入多元，且相对稳定，即使做不到每年都增长，抗风险能力也比较强。"从事电影 制片的金妍说。 "影视内容的创作有非常高的不确定性，并且我们的投入也很大，周期也很长。如果你没有能够面向全 球的市场发行能力，这里面的风险是相对较高的。" 爱奇艺高级副总裁张航表示，"每一个观众看完了 剧集都会和剧中角色产生很强的情感连接，但是这部剧播完了以后连接就断掉了。在线下让观众能够持 续保持甚至能够更加增强这种情感连接，这样会创造一个新的消费场，反过来还会让这个IP的价值变得 更好，为后续IP内容的线上开发积累一些势能。" 在今年春节档，《哪吒2》在 ...

Core Viewpoint - Cat's Eye Entertainment (01896) saw a significant stock increase of over 4%, reaching HKD 7.19, driven by the strong performance of "Zootopia 2" in the Chinese market, which has set multiple box office records [1] Group 1: Company Performance - As of November 30, "Zootopia 2" has surpassed RMB 1.9 billion in box office revenue in China, leading to a substantial revision of total box office forecasts from RMB 2.4 billion to RMB 4.263 billion by platforms like Cat's Eye [1] - The first day of "Zootopia 2" saw over 70 brands collaborating in the Chinese market, indicating strong market engagement and promotional efforts [1] Group 2: Industry Insights - Huayuan Securities highlighted the importance of box office performance for imported films, noting that the film market is supply-driven, with successful sequels likely to stimulate viewing demand and contribute to steady growth in box office revenues [1] - CITIC Securities pointed out that Cat's Eye Entertainment's semi-annual report emphasized its IP business strategy, suggesting that current experimental operations could lead to a systematic and scalable approach to film IP management in the future, integrating promotion and IP derivatives [1]

Group 1 - The core viewpoint of the article highlights the strong performance of "Zootopia 2" in the Chinese market, which has exceeded expectations and set multiple box office records [1] - As of November 30, "Zootopia 2" has surpassed 1.9 billion yuan in box office revenue in China, leading to a significant increase in box office forecasts from 2.4 billion yuan to 4.263 billion yuan by platforms like Maoyan [1] - The collaboration with over 70 brands on the first day of release indicates a strong marketing strategy and potential for increased consumer engagement [1] Group 2 - Huayuan Securities has noted the importance of box office performance for imported films, suggesting that the film market is supply-driven and that successful sequels can stimulate viewing demand and contribute to steady growth in box office revenue [1] - CITIC Securities has pointed out that Maoyan Entertainment's half-year report emphasizes its focus on IP business development, indicating that experimental operations are currently in place to accumulate experience for future scalable and systematic IP operations [1]