文娱商业观察 文/浮萍 2025年的长视频市场依然激荡。 从年初的大爆款《漂白》《国色芳华》，到年中全民热议的《生万物》《水龙吟》《沉默的荣耀》，再到年末的《唐诡3》《扫毒风暴》《反人类暴行》 等诸多高口碑内容的涌现，将观众的注意力焦点一次又一次拉回到长视频内容上来。 只有身处其中的人，才知道这样的成绩来之不易。在过去的几年中，长视频内容经历了短剧等一系列多样化娱乐方式的冲击，但令人欣慰的是，越是面临 各种挑战，就越能证明长视频内容中深度内容叙事、复杂议题讨论和深切情感共鸣的价值无可替代，这是长视频内容最核心的价值，也是广大用户和整个 社会最刚需的情感慰藉。 站在2025年末回顾过去一年，我们不难观察到，精品内容的创作方在推进"提质增效"的过程中，也面临诸多不确定性因素的挑战。与此同时，各平台也展 现出快速适应与调整的能力，在保持自身内容优势的基础上，持续探索创新方向，尝试以差异化的内容策略开拓市场空间，为平台在内容层面的发展提供 了新的可能。 借着年终盘点的机会，文娱商业观察也希望和大家分享一下，我们眼中的长视频平台的差异化内容是什么，以及它们是如何带来市场增量的，这或许能够 进一步成为2026年的长视频行 ...

今年底，打工人最想"一直打下去"的外卖大战终于告一段落。 从盛夏到严冬，这场横跨三大平台的用户争夺战堪称史无前例。在这场全民"薅羊毛"的外卖大战里，三方均投入百亿补贴，争的就是让用户爱来、常来。 2025年，活跃用户成了各平台的兵家必争之地。 不单是外卖行业，对于当下所有商家来说，"得用户者得天下"。对比之前各家削尖脑袋跑马圈地，现在的商家不仅想要更多新用户，还想让用户一直留在 自己家，并为此使尽十八般武艺。 年初，京东PLUS会员推出积分免费兑换生活服务，从家政、洗车、快递、体检权益全包，想从居家日常留住用户。 淘宝通过"88VIP"进一步整合淘宝闪购、飞猪、淘票票等阿里系平台，逐步实现会员互通和全价打包。 爱奇艺为星钻会员增添"免费看加更礼"权益。这是长视频行业第一次将高价值加更礼直接加入会员权益中。另外还有会员积分免费兑加更礼、积分抵钱买 周边等新福利玩法。高端用户更"尊享"，基础会员更"平价"。 随着互联网进入存量竞争时代，积极争夺用户成了各家长期主义的重要解法之一。无论是跨领域开疆拓土、用多元玩法提升用户留存时间，还是探索升级 会员权益与体验，现在能真正把人变成"常驻玩家"的，才是赢家。 01 "选 ...

最近，一则数据在文娱产业掀起波澜：据第三方机构统计，字节跳动旗下短剧平台红果短剧以2.1亿月 活跃用户的成绩，首次超越传统长视频平台优酷的2亿月活。这一里程碑式的突破，标志着以短剧为代 表的碎片化内容形态正重塑着中国数字娱乐产业的基本格局，从根本上改变了用户的娱乐消费习惯。 近年来，短剧以高歌猛进之势，不断蚕食着长视频的市场份额。其中，红果短剧更是凭借着"免费观看 +广告分账"的模式，实现了用户规模的指数级增长。事实上，短剧的爆火并非偶然，背后是多重因素 共振的结果，其"小成本、快节奏、高密度、强反转"的特点，精准击中了移动互联网时代用户"时间碎 片化、注意力稀缺化、情绪即时满足化"的核心痛点。 除此以外，短剧行业还存在盗版侵权横行、用户过度沉迷等问题与隐忧。尤其值得注意的是，中老年人 是短剧市场的重要受众，一些短剧平台利用老年人时间充裕、精神孤独、网络消费辨识能力弱等特点， 设置重重消费陷阱，诱导其高额付费、花式充值，形成对银发群体的资本围猎与收割，损害老年人的合 法权益。 红果短剧对长视频平台的"逆袭"是里程碑，但绝非终点。短剧若想从"爆红"走向可持续的"长红"，必须 正视问题，主动变革。首先，创作者要秉 ...

Group 1 - The core viewpoint of the news is the launch of a new home entertainment AI hardware brand "tudoo" by Whale Entertainment Group, along with its first product, the tudoo Tbox AI host, priced at 1499 yuan, set to be available on major e-commerce platforms starting December 18 [1] - The tudoo Tbox AI host aims to address key pain points in current television usage, such as low startup rates, fragmented usage, and lack of interaction, through four core technologies: a new large-screen chip architecture, multimodal interaction, a self-developed AI OS, and an open application ecosystem [1] - The new large-screen chip architecture of the tudoo Tbox integrates professional audio-visual processing capabilities with high computing power from mobile devices, supporting local AI models and smooth multitasking, while being compatible with hundreds of different brands and generations of TV devices [1] Group 2 - Whale Entertainment Group, formerly known as Alibaba's Big Entertainment Group, has achieved profitability for three consecutive quarters, primarily driven by improved operational efficiency of Youku and the success of its content quality strategy [2] - According to a report by iResearch, Youku's user growth rate has outpaced other long video platforms, with its user base increasing from 268 million to 281 million in the first three quarters of the year, achieving a growth rate over four times that of the industry [2] - In the third quarter, Youku's average number of advertisers exceeded 200, marking a 21% increase from the beginning of the year, which is the highest growth rate in the industry, driven by the success of premium content [2]

Investment Rating - The report does not explicitly provide an investment rating for the mobile internet industry in China. Core Insights - The mobile internet traffic in China has shown steady growth, with the number of monthly active devices reaching 1.452 billion by the end of Q3 2025. User engagement metrics indicate a shift from "high-frequency shallow use" to "low-frequency deep use," with daily effective usage time per device increasing from 272.4 minutes to 282.9 minutes, while the number of daily usage instances decreased from 65.1 to 59.8 [10][14]. Summary by Sections 01 Overview - The mobile internet traffic in China has experienced slight growth, with a monthly active device count of 1.452 billion as of Q3 2025. User stickiness remains stable, with daily effective usage time per device increasing to 282.9 minutes, while the frequency of usage has decreased [10][14]. 02 Segmentation - The report highlights that the user demographics are stable, with unmarried users making up 32.7% of the mobile internet population, reflecting the influence of the single economy on traffic growth. Users aged 35 and below account for 49.1%, and there is a notable increase in users from second-tier cities and above [17][18]. - Short video content continues to dominate user attention, with significant growth in daily usage time for travel and communication services, indicating a strong demand for immersive and personalized digital experiences [20][21]. - The top sectors in the mobile internet include communication and chat services, e-commerce, and aggregated information, with communication services achieving a penetration rate of 89.0%. The artificial intelligence sector has shown remarkable growth at 59.3% year-on-year [26][28]. - User engagement in high-frequency applications such as communication and short video services has increased, while sectors like social networking and aggregated information have seen declines, indicating a shift in user preferences towards high-quality content and innovative services [31][32]. 03 Value Rankings - The report does not provide a specific value ranking for the mobile internet industry in China.

Core Insights - The report by iResearch highlights that Youku has achieved the highest user growth rate among long video platforms in China, driven by diversified content and refined operations [1] - Youku's monthly average number of advertisers exceeded 200 in Q3, marking a 21% increase from the beginning of the year, the highest growth rate in the industry [1] - The overall user growth for long video platforms was only 1.3% in the first three quarters, while Youku's user base grew from 268 million to 281 million, outpacing the industry by over four times [1] User Engagement and Content Strategy - Youku's content strategy focuses on high-quality productions, with successful series such as "Difficult to Coax," "Cang Hai Chuan," and "Zhuo Zhuo Shao Hua" contributing to user retention and attraction [1] - The platform is building a comprehensive content ecosystem that caters to all demographics, with notable achievements in various genres including variety shows, documentaries, and animation [1] Commercialization and Advertising Growth - The increase in premium content has led to enhanced commercialization capabilities, with Youku's monthly average number of advertisers reflecting strong brand recognition for advertising efficiency [1] - Youku has developed a diverse product matrix for advertising, including innovative ad formats and collaborations, such as the long-term marketing IP "Flash Purchase Theater" with Taobao [1] - The introduction of six innovative AIGC advertising products aims to improve the quality and efficiency of marketing scenarios [1] Financial Performance and Market Confidence - Huajing Entertainment Group has achieved profitability for three consecutive quarters, primarily driven by improved operational efficiency at Youku, instilling confidence in the market [1] - Analysts believe that Youku's focus on premium content strategy positions it for steady growth amidst a slowing industry, providing a new model for high-quality development in long video platforms [1]

Group 1 - The core viewpoint of the report indicates that Youku has achieved significant user growth and engagement, leading the long video platform sector in both user scale and retention [1][5][6] - In the first three quarters of the year, the overall user growth for long video platforms was only 1.3%, while Youku's user base increased from 268 million to 281 million, outpacing the industry by over four times [5] - Youku's monthly average number of advertisers exceeded 200 in the third quarter, marking a 21% increase from the beginning of the year, which is the highest growth rate in the industry [1][5] Group 2 - The profitability of Huajing Entertainment Group has been achieved for three consecutive quarters, primarily driven by improved operational efficiency at Youku, instilling confidence in the market [6] - Analysts believe that Youku's strategy of focusing on high-quality content has allowed it to steadily enter a healthy development track, providing a new model for high-quality growth in the long video platform sector [6]

Group 1 - The core viewpoint of the report indicates that Youku has achieved significant user growth and engagement, leading the long video platform sector in both user scale and advertising growth due to diversified content and refined operations [1][2] - In the first three quarters, Youku's user base increased from 268 million to 281 million, representing a growth rate over four times higher than the overall long video sector, which only saw a 1.3% increase [2] - Youku's third-quarter average number of advertisers exceeded 200, marking a 21% increase from the beginning of the year, the highest growth rate in the industry, reflecting strong brand recognition of the platform's advertising efficiency [2] Group 2 - The report highlights that Youku's content strategy, focusing on high-quality productions, has led to a diverse content ecosystem appealing to all demographics, with successful shows like "Difficult to Coax" and "The Land of Seeking Truth" [2] - Youku has enhanced its commercial capabilities through innovative advertising products, including creative and scenario-based ads, and has successfully collaborated on marketing initiatives like the "Flash Purchase Theater" with Taobao [2] - The profitability of Huojing Entertainment Group for three consecutive quarters has been driven by improved operational efficiency at Youku, instilling confidence in the market amid a slowdown in industry growth [3]

Core Viewpoint - Youku has achieved profitability amidst market fluctuations, marking three consecutive quarters of profit driven by improved operational efficiency and a successful content premiumization strategy [1][2][3]. Group 1: Financial Performance - Alibaba Group's CFO announced that Youku's parent company, Tiger Whale Entertainment Group, has achieved profitability for three consecutive quarters [1]. - Youku's commercial revenue has seen significant year-on-year growth, attributed to the strong performance of various content offerings [15][18]. Group 2: Content Strategy - Youku has successfully implemented a content premiumization strategy, focusing on high-quality original productions, which has led to a strong rebound in viewership [4][6]. - The platform's original content accounted for 87.5% of its offerings from January to July 2023, leading the industry [6][11]. - Notable successful series include "The Cang Hai Chuan" and "In the Name of Law," which have significantly contributed to Youku's viewership and market share [4][6]. Group 3: Technological Innovation - Youku is leveraging advanced technologies to reduce costs and enhance its profitability model, including the use of virtual filming techniques [12][14]. - The company has established a leading position in virtual filming patents, with 80 inventions, surpassing competitors like Sony [14]. Group 4: Advertising and Commercialization - Youku has developed a diverse matrix of innovative advertising products, leading to a notable increase in brand partnerships and advertising revenue [15][16]. - The integration of advertising within content has evolved from traditional placements to collaborative creations, enhancing viewer engagement and brand affinity [18]. Group 5: Talent Development - Tiger Whale Entertainment has launched a talent cultivation program aimed at nurturing multi-talented young performers across various entertainment fields [18][20]. - The company emphasizes the importance of investing in talent as a long-term strategy for success in the entertainment industry [20].

Core Viewpoint - Youku has achieved profitability amidst market fluctuations, marking three consecutive quarters of profit driven by improved operational efficiency and a successful content strategy focused on quality [1][9]. Group 1: Financial Performance - Youku's strong performance in the latest fiscal quarter is highlighted by its top-ranking shows, including "Cang Hai Chuan" and "Yi Fa Zhi Ming," which contributed to a significant rebound in viewership [2][4]. - The company reported a notable increase in commercial revenue, attributed to innovative advertising products and successful brand collaborations, particularly with "Cang Hai Chuan" [9][10]. Group 2: Content Strategy - Youku's content strategy emphasizes high-quality, differentiated original productions, with 87.5% of its dramas being exclusive releases, leading the industry [4][6]. - The introduction of a customized drama incentive program and optimized revenue-sharing policies has enhanced Youku's content capabilities [5][6]. Group 3: Technological Advancements - Youku is leveraging advanced technologies, such as virtual filming, to reduce costs and enhance production efficiency, holding the largest number of virtual filming patents globally [8][9]. - The company has established multiple original drama production teams, ensuring high-quality content creation through collaboration with renowned creators [6][8]. Group 4: Talent Development - Youku has launched a talent cultivation program aimed at developing multi-talented young performers across various entertainment fields, reinforcing its commitment to long-term industry growth [13][17]. - The emphasis on nurturing talent reflects the company's belief in the importance of skilled professionals in the entertainment industry [17].