Core Viewpoint - Despite the rise of digital media, traditional print newspapers in China continue to maintain a significant subscription volume, with 16.95 billion copies sold in 2024, reflecting a 1.5% year-on-year growth, equating to an average of 12 copies per person annually [1][3] Group 1: Industry Performance - In 2023, the total print volume of newspapers reached 26.01 billion copies, with a total circulation of 25.84 billion copies, generating total revenue of 61.66 billion yuan and a profit of 6.64 billion yuan [3][4] - The number of operational newspapers in China remains substantial, with 1,732 newspapers still in operation by the end of 2024, producing a daily total print volume of 11.3 million copies [5][1] Group 2: Audience Demographics - The primary readership of print newspapers is the elderly population aged 65 and above, accounting for 47% of total subscriptions, with approximately 35 million individuals maintaining the habit of reading print newspapers [6][9] - Government agencies and institutions represent another significant audience for newspapers, with certain publications distributing millions of copies directly to these entities [9] Group 3: Unique Value Proposition - Print newspapers offer a reading experience that is perceived as more comfortable and less straining than digital devices, particularly for older adults who may have vision impairments [6][8][9] - The deep reading experience provided by print newspapers enhances comprehension and focus, making them a valuable resource for in-depth information [14][13] Group 4: Business Model and Future Outlook - The business model of newspapers includes news gathering, advertising, event planning, and cultural creativity, creating a closed-loop industry chain [18][15] - Despite the challenges posed by the internet, print newspapers continue to hold a significant market position due to their unique readership, irreplaceable reading experience, and stable business model [19][17]

Core Viewpoint - The rise of digital reading and book live streaming is reshaping reading habits, making it a new cultural consumption choice for many people [1][2] Group 1: Impact of Live Streaming on Book Sales - Book live streaming is becoming increasingly common, providing a new way for publishers to connect with readers and enhance book exposure [2][6] - Publishers can engage with readers in real-time during live streams, offering a customized reading experience that matches reader interests [2][6] - The content e-commerce sector is expected to continue its positive growth, with live streaming contributing to increased book sales [2][7] Group 2: Enhancing Reading Interest - Live streaming can effectively stimulate reading interest through engaging formats like book recommendations and reading excerpts [5][6] - Successful live streams can lead to significant book sales, with some recommendations resulting in sales reaching millions [6][7] - Video book presentations are becoming an integral part of the reading experience in the digital age, even if they do not replace traditional reading [6][7] Group 3: Digital vs. Print Reading - A recent survey indicates that nearly 78.7% of adults read via mobile devices, showing a slight increase from the previous year [7] - Despite the growth of digital reading, there remains a substantial audience for print books, particularly among students and professionals [8] - Digital reading and print reading each have unique advantages, and live streaming can enhance the overall reading landscape by driving interest back to print books [8]