智通财经编辑 | 李欣媛 "你的心情 现在好吗/你的脸上 还有微笑吗/你的所得 还那样少吗/你的付出 还那样多吗" 人们一边怀念"经济上行的美"，一边感叹此刻的紧绷与敏感。世界短暂敞开，又在一些权力话语之后迅速收缩，真实的人彼此照面，接着就被证明与较量的 身份焦虑包围。抽象的玩梗成了圈地抱团的语言，娱乐还是冒犯让人无从辨别。 智通财经记者 | 丁欣雨 出自孙悦上个世纪90年代金曲《祝你平安》的这段歌词，临近年底再度浮现于互联网的集体叙事中。只不过，它们不再是简单的问候，而是变成了一组精准 狙击当下人们普遍境遇的"年度诘问"。 2025，人们忙忙碌碌找自己，在言辞的推敲中校准爱自己的最佳姿态，也在和他人的关系中来回折返跑，把"建立主体性"的宣言贯彻了一整年。当"我值得 被爱"被重申，关系的失效就越发被确认，人们退回边界之内，隔离外在的连接，却又茫然于想要做的"自己"不知从何而来。 在不确定的世界里，人们该把希望投向哪里？这一年告诉你：至少不是"吃苦光荣"的父辈，不是炫耀特权的精英。优越感被集火，越来越难相信成功只来自 个人奋斗，无法承受的未来之"重"将人领向微小的治愈，邪修的灵妙，土味的逆袭。 流行文化瞬息万变 ...

Core Insights - The music industry in 2025 is perceived as a "small year" due to the lack of breakout new hits, with many of the top songs being older tracks [1][4][8] - Despite the perception of a "small year," 2025 is also seen as a "watershed" moment with the rise of AI, stagnation in music streaming, and a booming live performance market reshaping the music economy [3][12][23] Streaming and Song Popularity - Major platforms like Spotify and TikTok show that the top songs of 2025 are predominantly older tracks, with Spotify's top three songs being from previous years [4][8] - The most popular song of 2025 is "APT." by ROSÉ and Bruno Mars, which was released in 2024 but continues to dominate charts [4][8] - In the Chinese music scene, songs like "Jumping Machine" and "Great Ambition," both released in 2024, are leading the charts, indicating a similar trend [10][12] Live Performance Market - The live performance market is thriving in 2025, with record-breaking ticket sales for top artists, indicating a shift in focus from recorded music to live events [20][22] - The touring market is now seen as a primary revenue driver, with artists' streaming numbers significantly increasing during tour periods [21][22] AI and Industry Dynamics - The rise of AI-generated music is creating new trends, with AI songs starting to gain traction, although they are not yet mainstream [16][25] - The music industry is experiencing a generational shift, with older artists dominating while younger preferences are not being met, leading to a potential decline in industry vitality [14][23] - The concept of "super fan economy" is emerging, emphasizing deeper connections with core fans as streaming revenue growth slows [23][25] Market Performance Data - The global recorded music market is projected to see a significant decline, with streaming revenue growth slowing down dramatically, particularly in the U.S. where it dropped by 40% year-on-year [17][20] - Various countries are experiencing reduced growth in their music markets, with notable declines in streaming revenue across major markets [17] Future Outlook - The music industry is at a crossroads, with the potential for AI to reshape the landscape, but also a growing divide between fans of traditional music and those embracing AI [28][29] - The future may see a continued emphasis on live performances and a more segmented market as consumer preferences evolve [28][29]

Core Insights - The article highlights the rise of rapper Lan Lao as a significant cultural phenomenon in the Chinese music scene, particularly in 2025, driven by his unique blend of local culture and innovative music styles [1][7][26] Group 1: Music and Cultural Impact - Lan Lao's songs "Da Zhan Hong Tu" and "Ba Fang Lai Cai" have gained immense popularity, with "Ba Fang Lai Cai" surpassing 31.87 million views on YouTube [2] - On Spotify, Lan Lao achieved 5 million monthly listeners, surpassing renowned artists like Jay Chou, marking him as the top Chinese artist on the platform [3] - His music reflects a vibrant and unfiltered representation of Guangdong culture, resonating with audiences both locally and globally, thus facilitating cultural exchange [6][11] Group 2: Musical Style and Innovation - Lan Lao's music incorporates a mix of local dialects and traditional melodies, such as sampling from Cantonese opera, creating a unique sound that appeals to a broad audience [12][14] - He has transitioned to Memphis rap, blending this style with local cultural elements, which has garnered significant attention and acclaim [13][14] - The production style remains raw and authentic, emphasizing simplicity and real-life experiences over polished commercial sounds [15][18] Group 3: Social Context and Audience Connection - The lyrics of Lan Lao's songs express a collective desire for wealth and success, resonating with the economic sentiments of contemporary youth [17][20] - His rise to fame is attributed to the changing landscape of music distribution, particularly the impact of social media and short video platforms in promoting his work [18][26] - Lan Lao's approach to music reflects a grassroots connection to his audience, emphasizing relatability and authenticity over commercialism [19][28]

Core Viewpoint - The article discusses the rise of "hit songs" in the Chinese music industry, particularly focusing on the impact of short video platforms like TikTok and Douyin on music creation, distribution, and consumption. It highlights the shift from traditional artist-driven models to a more song-centric approach, where the song's potential for virality dictates its promotion and success [5][9][10]. Group 1: The Rise of Hit Songs - Jay Chou has been the most listened-to Chinese singer on Spotify, but in July 2025, a new artist named Lan Lao surpassed him, indicating a shift in listener preferences [5][8]. - The success of songs like "Jumping Machine" and "Eight Directions to Wealth" is attributed to their design for short video platforms, utilizing catchy hooks and adaptable structures that cater to the fast-paced nature of social media [11][15][16]. Group 2: Production and Promotion Strategies - Sony Music has developed a "Hit Song system" that focuses on the song's potential rather than the artist, allowing for a more flexible and data-driven approach to music production [11][14]. - The process involves selecting demos from a large pool, followed by a cold start testing phase to gauge initial audience reactions before a broader release [22][23]. - The article emphasizes the importance of creating songs that are adaptable to various contexts, enhancing their use as background music in different scenarios [16][28]. Group 3: Market Dynamics and Revenue Models - The competitive landscape is intense, with approximately 1.35 million new Chinese songs released in 2024, making it crucial for songs to stand out [22]. - Revenue from hit songs primarily comes from streaming platforms, while short video platforms serve as exposure channels rather than direct revenue sources [29][30]. - The article notes that while hit songs can generate significant income, most artists receive limited compensation, often relying on live performances for their primary income [34][35]. Group 4: Cultural and Social Context - The success of songs is often tied to social contexts and trends, with the article noting that the emotional resonance of a song can vary significantly depending on the prevailing societal mood [27]. - The article also discusses the evolving nature of music consumption, where music is increasingly used as a backdrop for visual content rather than being the focal point of attention [36].

Group 1: Pharmaceutical Industry - The Chinese innovative drug industry is transitioning from "generic" to "innovation," driven by policy reforms such as the 2015 drug regulatory reform and the 2018 centralized procurement policy, leading to increased R&D investment and a significant rise in innovative drug pipelines [3][4] - The proportion of Chinese FIC (First-in-Class) drugs has increased from 9% to 31% over the past decade, with leading products like Zebutine showing internationally competitive efficacy [3][4] - The overseas expansion of Chinese innovative drugs occurs in three phases: primarily through licensing out, followed by self-initiated international clinical trials or "NewCo" models, and finally achieving global sales, with companies like BeiGene leading the way [3][4] Group 2: E-commerce and Retail - In the first half of 2024, China's cross-border e-commerce imports and exports reached approximately 1.32 trillion yuan, with a year-on-year growth of 5.7%, showcasing significant industry resilience despite a slowdown in growth [15] - Emerging markets such as the Middle East, Latin America, and Africa have shown strong performance, with traffic growth exceeding 40%, indicating a shift in trade partnerships [15] - The "four small dragons" of Chinese cross-border e-commerce (TEMU, TikTok Shop, SHEIN, AliExpress) are rapidly expanding through innovative models like low pricing and content-driven strategies, contributing to a projected global e-commerce sales of $6.8 trillion by 2025 [16] Group 3: Cultural and Creative Industries - Chinese cultural products, characterized by a blend of traditional and modern elements, have gained global popularity, with successful examples like "Black Myth: Wukong" breaking cultural barriers and inspiring global trends [6] - The success of cultural exports relies on balancing deep cultural representation with accessible popular culture, supported by technological advancements and new platforms [6] Group 4: Hydrogen Energy - Chinese hydrogen energy companies are accelerating internationalization, with 44 overseas projects this year, covering the entire industry chain from electrolyzers to hydrogen refueling stations [7][8] - The industry is transitioning from a cost-driven model to a value-driven approach, aiming for the global standardization of "Chinese standards" [8] Group 5: Gaming Industry - The 2025 ChinaJoy exhibition highlighted the rise of the Chinese gaming industry, with PC and console games showing significant export trends, supported by a global player base of 1.43 billion [9] - Chinese game developers are focusing on brand advertising to enhance long-term value, utilizing platforms like Twitch for targeted marketing [9] Group 6: ESG and Sustainability - Chinese companies are entering a "new era of going global" centered around ESG (Environmental, Social, and Governance) compliance, which is becoming a market entry requirement rather than a bonus [11] - The emphasis on ESG is crucial for enhancing long-term competitiveness and attracting talent, with small and medium enterprises encouraged to improve data management and reporting credibility [11] Group 7: Food and Beverage - The Chinese new tea beverage brands are rapidly expanding globally, particularly in Southeast Asia, driven by favorable demographics and cultural similarities [18] - Challenges include supply chain vulnerabilities and high compliance costs, necessitating localized supply chains and product adaptations [18] Group 8: Automotive Industry - Changan Automobile's elevation to a state-owned enterprise signifies a new model for China's automotive globalization, focusing on "ecological going global" and leveraging national support [29] - The company aims for 30% of its sales to come from overseas by 2030, with a focus on high-end brands and advanced technologies [29]

Group 1 - The article discusses the concept of "economic upward beauty," reflecting on nostalgia for early 2000s aesthetics and cultural elements, such as fashion and music, which symbolize a confident and optimistic economic period [1][2][3] - The rise of rapper Lan Lao, who surpassed Jay Chou in monthly listeners on Spotify, is seen as a representation of "economic downward beauty," contrasting the past's confidence with a current aesthetic that reflects economic challenges [1][8] - The discussion includes how economic cycles influence perceptions of beauty and aesthetics, questioning whether nostalgia for the past is genuine or merely a filtered memory [1][12] Group 2 - The conversation highlights the duality of beauty in economic contexts, with "economic upward beauty" associated with modernity and optimism, while "economic downward beauty" reflects a return to local roots and cultural identity [12][13] - The participants express that nostalgia is not just about longing for the past but also about reconnecting with one's identity and cultural heritage in the face of economic uncertainty [12][13] - The article suggests that the current cultural landscape is marked by a blend of nostalgia and innovation, where past aesthetics are reinterpreted to address contemporary emotional needs [17][18]

Core Insights - The rapid rise of the song "大展鸿图" by the 27-year-old rapper 揽佬 highlights the transformative impact of digital platforms on the music industry, showcasing a shift towards a new ecosystem driven by algorithmic empowerment and decentralized distribution [1][2][3] Industry Trends - Streaming revenue is projected to account for 69% of global recorded music revenue in 2024, while physical music revenue will only represent 16.4%, and download revenue continues to decline, now at 2.8% [2] - The emergence of short video platforms has enhanced audience engagement, turning consumers into active participants in music dissemination, as seen with the viral dance trends associated with "大展鸿图" [2][3] Revenue Models - The revenue model for streaming platforms has evolved, with a greater reliance on subscription services and new traffic sources, as traditional social entertainment revenue has seen a decline, exemplified by Tencent Music's 11.9% year-on-year drop in social entertainment revenue [3] - The algorithm has replaced traditional radio as the primary distribution channel for music, leading to a shift in how copyright revenues are generated, focusing more on algorithm-driven value [3] Market Dynamics - The success of artists like 揽佬 and 58-year-old 那艺娜, who gained popularity through short video platforms, reflects a new collaborative ecosystem in the music industry, where emotional consumption and community engagement are becoming key growth drivers for streaming platforms [4]

Core Viewpoint - The article discusses the cultural significance and impact of the viral song "大展鸿图" (Great Ambitions), exploring its unique characteristics and the phenomenon of its popularity in both domestic and international contexts [4][5][10]. Group 1: Song Background and Popularity - "大展鸿图" is a rap song created by artists 揽佬 and 刘夫阳, included in their 2024 album "八方来财" (Fortune from All Directions) [13]. - The song gained traction in May 2023 when a TikTok user choreographed a dance to its first part, leading to over 1 million likes and 500,000 shares on the platform [13]. - By July 2025, 揽佬 topped the Spotify Chinese artist chart with 3.022 million monthly listeners, surpassing well-known artist 周杰伦 [13]. Group 2: Cultural Analysis - The article highlights the dual nature of the song as both a "土歌" (local song) and a "潮歌" (trendy song), indicating its appeal across different demographics and its evolution in perception [35][37]. - The song's title "大展鸿图" is often confused with "大展宏图," with the former receiving 20.8 billion views compared to the latter's 34 billion on Douyin, showcasing the linguistic nuances and cultural preferences in naming [22][23]. - The preference for "鸿" over "宏" in Guangdong culture is explained, linking it to local customs and beliefs regarding prosperity and aesthetics [24]. Group 3: Broader Implications - The article suggests that the popularity of "大展鸿图" may influence the usage of the terms "大展鸿图" and "大展宏图" in contemporary Chinese language, potentially altering their prominence in future discourse [26]. - The song's success reflects a broader trend where various music genres, including rap and jazz, increasingly rely on platforms like Douyin and TikTok for visibility and popularity [37]. - The cultural exchange facilitated by the song's international reach highlights the growing interest in Chinese culture among overseas audiences, as evidenced by the engagement of foreign friends with the song and its lyrics [30][31].

Core Viewpoint - The article discusses the viral success of the song "大展鸿图" (Great Ambitions), highlighting its cultural significance and the phenomenon of internet songs in contemporary society [10][11][12]. Group 1: Song Popularity and Impact - "大展鸿图" has gained immense popularity, with over 20 billion plays across platforms, leading to an estimated 60 billion written versions by the artist [2][11]. - The song's dance challenge on TikTok contributed significantly to its viral spread, resulting in over 1 million likes and 500,000 shares on Douyin [11]. - The song's success has led to a notable increase in the artist's monthly listeners, surpassing 3.02 million on Spotify, overtaking well-known artists like Jay Chou [12]. Group 2: Cultural Significance - The song's lyrics and themes reflect cultural nuances, such as the preference for "银龙鱼" (Silver Arowana) over "金龙鱼" (Golden Arowana) in Guangdong, indicating regional tastes and economic status [15][18]. - The title "大展鸿图" is often confused with "大展宏图," showcasing the evolving usage of language and the impact of internet culture on traditional expressions [20][21][22]. - The song's lyrics and their interpretation highlight the cultural differences in understanding concepts like "研墨下笔" (grinding ink), emphasizing the need for cross-cultural explanations [27][29]. Group 3: The Dual Nature of Internet Songs - The article explores the dual nature of "大展鸿图" as both a local and trendy song, illustrating how perceptions change based on audience exposure [38][39]. - The rise of short video platforms has accelerated the cultural exchange and popularity of various music genres, including rap and jazz, indicating a shift in how music is consumed [40].

Core Viewpoint - The recent global popularity of the rap song "Da Zhan Hong Tu" exemplifies the successful overseas dissemination of Chinese culture, highlighting the balance between profound cultural works and more relatable, popular cultural products [2][3] Group 1: Cultural Dissemination - The success of "Da Zhan Hong Tu" is part of a broader trend where Chinese culture is increasingly welcomed by global audiences, with various forms of media such as music, film, and games gaining traction [2][3] - Recent cultural exports demonstrate a diverse creativity in Chinese culture, appealing particularly to younger audiences and transforming sporadic highlights into a continuous and expansive presence [2][3][4] Group 2: Dual Approach to Cultural Promotion - Cultural dissemination should adopt a dual approach: showcasing profound works that represent Chinese civilization while also promoting relatable and popular cultural products that resonate with the public [3][4] - The interplay between high culture and popular culture enhances the overall cultural image, with each serving distinct roles in attracting and engaging audiences [4] Group 3: Factors Supporting Cultural Export - Effective media and technology empower creators to produce innovative works, facilitating smoother and broader cultural dissemination through internet platforms [4][5] - The development of the cultural industry supports new cultural types, such as micro-dramas, which thrive on diverse content and audience validation, enabling easier success in overseas markets [5] - New platforms play a crucial role in showcasing cultural products, allowing for a more tailored approach that resonates with local audiences and enhances market resilience [5][6] Group 4: Future Prospects - Building cultural influence and brand recognition globally requires ongoing efforts in market competitiveness, product appeal, and audience engagement, while embracing global contexts [6]