格隆汇1月30日｜博纳影业公告，预计2025年净亏损为12.61亿元—14.77亿元。报告期内，公司全年出品 影片合计票房较上年同期有所下降，单一影片亏损较大。2025年公司出品的电影、剧集上映数量不足， 多部电影、剧集尚处于不同的制作阶段，暂未产生直接经济收益。公司将全面推进电影、剧集的高品质 内容生产。(金十数据APP) ...

Core Viewpoint - Bona Film Group expects a net profit loss attributable to shareholders of 1.261 billion to 1.477 billion yuan for the fiscal year 2025, compared to a loss of 867 million yuan in the previous year [1] - The company anticipates a net profit loss of 1.282 billion to 1.5 billion yuan after excluding non-recurring gains and losses, compared to a loss of 973 million yuan in the previous year [1] Financial Performance - The total box office revenue from films produced by the company decreased compared to the previous year [1] - The company experienced significant losses from individual films [1] Production Outlook - The number of films and series released by the company in 2025 is expected to be insufficient, with many projects still in various stages of production and not yet generating direct economic returns [1] - The company plans to fully promote the production of high-quality content for films and series [1]

主要股东信息显示，中影源余瑞棠国际文化传播（广州）有限公司由胡玥持股100%。 来源：市场资讯 公示资料显示，《粤韵晚情》编剧为胡玥。义工阿梅走进广州养老院，以粤剧为纽带，为老人们的生活 带来乐趣。她帮林太公重拾胡琴，促成太公和儿子的团圆。 中影源余瑞棠国际文化传播（广州）有限公司，成立于2025年，位于广州市，是一家以从事文化艺术业 为主的企业。企业注册资本100万人民币。 国家电影局官网显示，国家电影局关于2025年12月下全国电影剧本（梗概）备案、立项公示的通知显 示，片名《粤韵晚情》获同意拍摄备案，备案单位为中影源余瑞棠国际文化传播（广州）有限公司，备 案立项号：影剧备字〔2026〕第88号。 ...

Core Insights - The beginning of the new year has seen a diverse array of content on television, with long dramas making a notable return, highlighted by the historical drama "Tai Ping Nian" and the reality-themed series "Sheng Ming Shu" [3] Group 1: "Tai Ping Nian" - "Tai Ping Nian" marks a significant return of historical dramas to prime time on CCTV, focusing on the tumultuous Five Dynasties and Ten Kingdoms period, showcasing the journey towards national unity and peace [4] - The production involved ten years of planning and five years of refinement, utilizing 8K ultra-high-definition technology and featuring over 230 historical figures, emphasizing the depth of civilization narrative [4] - The series has sparked discussions on the challenges of historical drama creation and its current rarity on screen, with its steady rise in viewership and acclaim demonstrating the impact of thought-provoking content [4] Group 2: "Sheng Ming Shu" - "Sheng Ming Shu" represents a breakthrough in reality-themed storytelling, focusing on the ecological protection efforts in the remote areas of the Tibetan Plateau, based on the real-life anti-poaching efforts of the Kekexili patrol team [5] - The production faced significant challenges, with 188 days of on-site shooting in harsh conditions, leading the creators to describe it as a work made "with their lives" [5] - The series integrates elements of environmental protection, suspense, and human exploration, with a commitment to concise storytelling, reducing the episode count from 46 to 40 to avoid filler content [6] Group 3: Industry Trends - The start of the year has highlighted a collaborative development of long, medium, and short dramas, with the short drama "Qi Ji" and the medium-length drama "Kan De Jian Feng Jing De Chuang" showcasing innovative storytelling and structure [7] - The diverse and high-quality content released at the beginning of 2026 has broken the homogenization in the industry, pushing the standards of domestic drama creation to new heights [7]

Investment Rating - The report indicates a positive outlook for the media industry, highlighting potential growth driven by policy improvements and AI advancements [4][7][17]. Core Insights - The media industry is characterized by a "supply determines demand" dynamic, with recent policy changes since 2022, particularly in the gaming sector, leading to a gradual recovery in supply and overall industry fundamentals [4][7][17]. - The introduction of the "Broadcasting 21 Measures" in August 2025 is expected to further enhance the supply side of the film and television industry, potentially marking a turning point in industry prosperity [7][25]. - AI technology is increasingly empowering production across various media sectors, significantly reducing costs and improving efficiency, which may lead to a new phase of growth in the industry [8][34][44]. Summary by Sections Policy Environment - The policy environment has shown marginal improvements, effectively addressing supply shortages in the media industry. Since 2022, the number of gaming licenses has been steadily increasing, and the "Broadcasting 21 Measures" aims to optimize the supply side of the film and television industry [7][25][27]. AI Empowerment - AI technology is being integrated into various media sectors, enhancing production efficiency and reducing costs. In gaming, AI is transitioning from a cost-cutting tool to a core element of gameplay innovation, while in advertising, AI has been validated by companies like Meta for improving return on investment [8][34][44]. Industry Performance - The media industry is expected to see significant performance improvements, with revenue and net profit showing positive growth starting in 2025. The gaming sector, in particular, has experienced accelerated growth, with Q3 2025 revenue reaching approximately 27.06 billion yuan, reflecting a year-on-year increase of about 35.23% [48][49]. Index Analysis - The CSI Media Index focuses on marketing, advertising, cultural entertainment, and digital media, with a significant portion of its constituents in the gaming and advertising sectors. The index is expected to benefit from the ongoing integration of AI technology and favorable policy changes [9][58][61]. ETF Overview - The CSI Media ETF (512980), managed by GF Fund Management, is the largest in its category, providing a liquid investment vehicle for exposure to the media sector. As of January 16, 2026, the ETF's scale is approximately 9.96 billion yuan [10][94].

Group 1 - Nanjing has become a favored location for film and television productions due to its rich cultural heritage, beautiful scenery, and supportive government policies for micro-short films [1][2] - The "iQIYI (Nanjing) Creator Industrial Park" has been established in Nanjing's Jiangbei New Area, providing a comprehensive base for micro-short film production, including office space, filming locations, and studios [2] - The park aims to create an integrated industrial chain for creation, filming, production, and distribution, enhancing opportunities for creators and promoting tourism through linked content [2] Group 2 - The "Law Eye Theater" micro-drama cooperation plan was launched, focusing on creating high-quality micro-dramas based on real legal cases, emphasizing social relevance and emotional depth [3] - Jiangbei New Area is actively supporting the micro-short film industry, with 104 short drama companies and over 820 short dramas produced, indicating a trend towards mainstream and high-quality content [3] - The upcoming Yangtze River Digital Audio-Visual Industrial Park is expected to sign 56 companies and produce over 480 short dramas, with an estimated total output value of 350 million yuan [3]

电影《惊蛰无声》讲述了我国最新战机的涉密信息遭到外泄，国家安全面临威胁，国安小组迅速行动抓 捕间谍，在信任与背叛的漩涡中，一场惊心博弈悄然上演。张艺谋导演首次拍摄"当代国家安全题材"， 影片将"反间谍"这个与国家安全、人民利益息息相关的话题首次搬上银幕，也向大众传递着反间防谍的 安全意识。 春雷初动，发声启蛰。由长影联合出品、张艺谋执导的新片《惊蛰无声》正式定档2026年春节。这是长 影继《狙击手》《满江红》《雪迷宫》等影视作品之后，第四度携手张艺谋导演的全新力作。该片由国 家安全部指导创作，是我国首部聚焦当代国家安全题材的作品。 影片由易烊千玺、朱一龙、宋佳领衔主演，雷佳音、杨幂主演，张译友情出演，刘诗诗、刘耀文特别出 演，一众国民级实力派演员强势集结，共同演绎当代谍战群像。在影片定档预告中，国安小队与间谍势 力展开了一系列惊险交锋，暗巷抓捕、弩箭偷袭、贴身肉搏、枪战对决、无人机追踪等令人心弦紧绷的 对峙场面轮番上演，悬念迭起。 练新闻作者：马璐 来源：彩 ...

Core Insights - The beginning of the new year has seen a diverse array of content on television, with long dramas like "Tai Ping Nian" making a significant cultural impact and the upcoming "Sheng Ming Shu" representing a new height in realistic storytelling [1] Group 1: "Tai Ping Nian" and Historical Drama - "Tai Ping Nian" marks the return of historical dramas to prime time on CCTV after many years, focusing on the tumultuous Five Dynasties and Ten Kingdoms period, highlighting the journey towards national unity and peace [3] - The series has been in development for ten years and utilizes 8K ultra-high-definition technology, featuring over 230 historical figures, emphasizing a deep narrative of civilization [3][4] - The show has sparked discussions about historical accuracy versus artistic representation, with some viewers finding it challenging due to its complex narrative, while history enthusiasts appreciate its rigorous adherence to historical facts [4][5] Group 2: "Sheng Ming Shu" and Realistic Themes - "Sheng Ming Shu" represents a breakthrough in realistic storytelling, focusing on the ecological protection efforts in the remote areas of the Tibetan Plateau, based on real-life anti-poaching efforts [8] - The production involved 188 days of on-site filming in harsh conditions, showcasing the struggles and dedication of the characters, which adds a layer of authenticity to the narrative [8][9] - The series has been streamlined from 46 to 40 episodes to maintain quality and avoid unnecessary filler, setting a standard for the industry [9] Group 3: Industry Trends and Developments - The start of the year has highlighted a collaborative ecosystem in the industry with the emergence of short, medium, and long dramas, exemplified by the short drama "Qi Ji" and the medium-length "Kan De Jian Feng Jing De Chuang" [11] - The diverse and high-quality content released at the beginning of 2026 has broken the homogenization in the industry, pushing the standards of domestic drama creation to new heights [11]

据美国影视行业媒体《综艺》消息，洛杉矶市议会于周三投票，拟设立 500 万美元微短剧制作补贴，市议会以 14 票全票通过决议，责成市府工作人员落 实支持微短剧制作的公共或私人资金来源。该提案发起人、市议员鲍勃 布卢门菲尔德说"我坚信，这是让这座城市的创意中产重回行业的途径之一，而这 一群体早已在行业并购、资本巨头的操控与种种决策失当中被彻底掏空。" 同时他坦言微短剧单部制作成本很低，这使得制作公司要在洛杉矶取景拍摄变得十分困难，微短剧制作方大多未加入行业工会，这一品类发源于中国，多 数制作公司也扎根中国。鲍勃 布卢门菲尔德认为，洛杉矶应着力打造全球微短剧制作中心，"微短剧在当地尚属新兴领域，但已有不少美国从业者入局。 我仍认为，许多中国企业和海外企业都希望来此取景，他们认可美国的创意人才、演员以及当地的各类制作资源。"鲍勃 布卢门菲尔德的提案中，还要求 市府研究降低拍摄许可费用，并考虑设立 "微成本制作专属服务窗口"，实现拍摄许可三日审批办结。 去年，《综艺》曾刊发一则美国短剧行业调查的深度报道，其数据调查显示，尽管包括美国在内的全球多个国家都开始了短剧制作尝试，但中国仍是全球 微短剧的蓝本，美国目前已成为中 ...

投资人称至今未收到一分钱 |图源：豆包AI 作者／ IT时报 孙永会 编辑／ 郝俊慧 孙妍 在短剧的世界里，霸道总裁演绎权力与深情，重生者带着记忆改写命运……这些高浓度、快节奏的题材，精准戳中当代人的情感投射与 幻想快感，让人越看越"上头"。同时，这也让短剧成为资本与创作者争相涌入的新蓝海。 主业为城市更新的刘思远开过酒吧、做过短视频IP，2024年年底，他在一个认识多年的朋友介绍下投了一部恋爱综艺，计划以短剧的形 式播出。 然而，短剧淘金并非易事。《IT时报》记者和数位投资者、影视行业从业者对话后发现，大火的短剧投资背后，存在着很多履约失信的 情况。 "隔几天，我就会问她要一次钱，但她却以老公出车祸、爸爸进ICU、十一放假延期不给钱等各种理由搪塞我。"2025年年初，李嘉佳在 某社交平台上认识了短剧制片人王珂。本就有项目投资计划的她听了对方介绍后，决定以自然人身份投资王珂公司承制的两部短剧（以 下代称为A剧和B剧）。 不承想，在签订合同后，虽然剧集如期上线，A剧播放量甚至还较为可观，但李嘉佳却迟迟未能获得合同约定的收益，"对方今天拖明 天，明天拖后天，目前一分钱都没有拿到。" 当纸面合同难以抵御权责纠缠时， ...