Core Insights - The micro-short drama industry is experiencing unprecedented policy and market opportunities, as evidenced by the high-profile "Chasing Light Plan" international competition and government support initiatives [1] - However, creators are facing challenges such as content homogenization leading to viewer fatigue and declining willingness to pay, indicating a shift from a growth phase to a more mature stage [1][2] - The industry is transitioning from a focus on rapid content consumption to a balance between artistic quality and commercial viability, emphasizing the importance of meaningful storytelling [1][3] Development Status - The supply of micro-short dramas has surged, with platforms like Red Fruit and "iQIYI" having a total inventory of 40,000 dramas, but effective viewership growth has slowed from 44% in February to 4.7% in June [2] - The industry is moving towards a new ecosystem where both long and short dramas coexist, with annual investments exceeding 300 billion yuan for long dramas and over 120 billion yuan for short dramas [2] - The focus has shifted from mere traffic to content that resonates emotionally with audiences, as highlighted by industry leaders [2] Creative Challenges - The phenomenon of "viewer fatigue" is emerging as a significant issue, with many viewers losing interest in the previously engaging fast-paced content [3] - The traditional model of content creation is being abandoned, with platforms reporting low script acceptance rates of 2-3% despite receiving over a thousand scripts weekly [3] - The industry is evolving towards a narrative structure that emphasizes character development over plot-driven storytelling, as seen in successful works like "Good Girl" [4] Platform Support - Platforms like iQIYI are categorizing micro-short dramas into vertical and horizontal formats, adapting their content strategies to prioritize quality over quantity [5] - iQIYI is focusing on IP adaptations to combat content homogenization, integrating nearly 30,000 novel IPs into their offerings [5] - Tencent Video is promoting a brand called "Ten-Minute Short Dramas," emphasizing high-quality content and user-centric emotional expression [6] Policy Support - Beijing's government is implementing strategies to promote high-quality micro-short dramas, with 120 dramas selected for national awards in 2024 [7] - The city is also fostering the development of a network audiovisual industry park, aiming for a production value exceeding 1 billion yuan by 2024 [8] - New policies are encouraging international outreach for micro-short dramas, with financial incentives for translation and copyright export [8] National Market Overview - The micro-short drama market in China is projected to reach 50.44 billion yuan in 2024, with a year-on-year growth of 34.9%, surpassing total box office revenues for films [11] - Beijing accounts for approximately 66% of the national market, with a production value of about 33.62 billion yuan [11] - The user demographic in Beijing shows a predominance of female viewers, with a significant portion of the audience aged 25-34 [11] Technological Innovation - The integration of AIGC (Artificial Intelligence Generated Content) is transforming the production process, reducing costs by over 30% and enabling new content forms [12] - The industry is witnessing a rise in creators utilizing AI for scriptwriting and production, indicating a shift towards democratized content creation [9] - Future developments may include AI-generated characters and personalized content tailored to individual viewers [10]

编号：2025-002 | | 特定对象调研 ☐分析师会议 | | --- | --- | | | ☐媒体采访 ☐业绩说明会 | | 投资者关系活动类 别 | ☐新闻发布会 ☐路演活动 | | | ☐现场参观 | | | ☐其他 浙商证券：詹静 | | | 华福证券：王鑫旸 | | 参与单位名称及人 | 银河证券：王艳 | | 员姓名 | 东北证券：唐凯 | | | 上海瀛东律师事务所：李音瑶 | | | 上海双荧公司：陈仁宁 | | 时间 | 2025 年 7 月 4 日 | | 地点 | 公司会议室 | | 上市公司接待人员 | 董事、董事会秘书：徐曼 | | 姓名 | 证券事务代表：钱丽娟 一、公司基本情况介绍 | | | 1.介绍下公司的"尚乎AI智造"平台？ | | | 二、互动交流环节主要内容 | | 投资者关系活动 | 答："尚乎AI制造"是一站式AI定制与柔性生产平台，依托自主研发 | | 主要内容介绍 | 的便携式数码直喷打印机和生成式AI设计系统，推动AI赋能实体智造，实 | | | 现产业升级。 | | | 2.公司发布的Catimind平台有哪些优势？ | | | 答：Catimin ...

报告编委 报告指导人 | 张扬 | 爱分析 | 联合创始人&首席分析师 | | --- | --- | --- | | 报告执笔人 | | | | 李进宝 | 爱分析 | 高级分析师 | | 外部专家（按姓氏拼音排序） | | | | 车思漫 | 明略科技 | 明略科技旗下秒针系统Social解决方案负责人 | | 刁鸣真 | 火山引擎 | 智能体验与创作产品经理 | | 冯晓东 | 声网 | AIoT行业产品总监 | 2 | 2025 爱分析·AIGC 应用实践报告 1. 报告综述 特别鸣谢（按拼音排序） 3 | 2025 爱分析·AIGC 应用实践报告 | 1. | 报告综述 | 6 | | --- | --- | --- | | 2. | 市场洞察 | 9 | | 3. | AIGC 营销市场 | 14 | | 4. | 对话式 AI 市场 | 27 | | 5. | 结语 | 34 | | 关于爱分析 | | 35 | | | 产品服务 | 36 | | | 法律声明 | 37 | 报告综述 5 | 2025 爱分析·AIGC 应用实践报告 爱分析在深入调研后发现，AIGC 在 To B 市场的应用格 ...