"认识一下今天的新星：玛雅·霍克——乌玛·瑟曼和伊桑·霍克的女儿；杰克·奎德——梅格·瑞恩和丹尼斯·奎德的儿子；佐伊·克拉维茨——丽莎·博内 特和兰尼·克拉维茨的孩子。还有约翰·大卫·华盛顿、玛格丽特·库里、达科塔·约翰逊、莫德·阿帕图，就连德斯特里·斯皮尔伯格如今也当起了导 演。" 文中，布鲁门菲尔德一上来便指名道姓，列举了多位如今好莱坞如日中天的星二代、导二代。其中，1998年出生的玛雅·霍克入行已有八年，主演 过《恐惧街》《复仇少女组》《怪奇物语》等影视作品，还担任卖座动画电影《头脑特工队》里焦焦的配音；老父亲伊桑·霍克前年执导《野猫》 一片，也秉持举贤不避亲的精神，找来闺女当主演。 59岁的雷米·布鲁门菲尔德（Remy Blumenfeld）是来自英国的电视节目制作人，做过不少成功的电视节目和纪录片。自去年开始，他受《好莱坞 记者》邀请开设专栏，以圈内人身份畅谈好莱坞秘辛，提供行业指导。他的最新一期专栏名为《裙带宝贝：次世代》（Nepo: The Next Generation），讨论的是好莱坞乃至全球影视与文化行业愈演愈烈的"二代"接班现象，引来不少共鸣。 伊桑·霍克与玛雅·霍克在《野猫》拍摄现场。 ...

Group 1 - The core viewpoint of the article is that the recent measures announced by the National Radio and Television Administration (NRTA) to promote television content supply are expected to revitalize the domestic film and television industry, similar to the recovery seen in the gaming sector after the lifting of game license restrictions [1][3] - The measures include promoting the introduction and broadcasting of high-quality foreign programs, which will increase content supply and encourage domestic creators to produce high-quality works [3][4] - The film and television sector experienced a significant market reaction, with stocks of companies like Huace Film & TV and Ciwon Media reaching their daily limit [1][3] Group 2 - The introduction of foreign dramas has been limited for the past decade, and the current global content landscape has changed significantly, with concerns that the quality of foreign content may not impact domestic productions as severely as before [4][6] - The audience for high-quality foreign dramas is primarily young, educated individuals, raising questions about the ongoing appeal of such content to the Z generation [6][7] - The article highlights the historical context of foreign drama imports in China, noting that they were once a significant source of content but have seen a decline due to regulatory restrictions [8][10][11] Group 3 - The article discusses the evolution of the competition among video platforms, emphasizing that the focus has shifted from acquiring foreign content to creating differentiated offerings to attract viewers [5][32] - The rise of domestic web dramas and adaptations of online literature has become the mainstream, as platforms pivot away from foreign dramas due to regulatory challenges and changing audience preferences [31][32] - The article suggests that the return of foreign dramas could serve as a necessary supplement to the declining production of domestic dramas, which has raised concerns within the industry [33][36]

Group 1: Market Overview - The Hong Kong stock market continues to reach new highs, with the Hang Seng Index closing at 25,130 points, up 135 points or 0.54% [2] - The total trading volume on the main board was HKD 266.1 billion, an increase of 1.2% compared to the previous day, with the Stock Connect trading accounting for 30.6% of the total [2] - Northbound capital saw a net inflow of HKD 2.717 billion, a decrease of 61.5% from the previous day, with the most net purchases in China Life, CCB, and SMIC [2] Group 2: Sector Performance - Among the 12 Hang Seng Composite Industry Indices, 11 rose while 1 slightly declined, with materials, industrials, and utilities leading the gains [3] - The lithium battery sector performed well, with Ganfeng Lithium and Tianqi Lithium both rising over 6% [3] - The healthcare sector recorded a minor decline of 0.004% [3] Group 3: Company Insights - JD.com announced a HKD 4 billion acquisition of a 70% stake in Jia Bao Supermarket, which will be managed by the founder for three years before transitioning to JD.com [4] - The acquisition is expected to enhance JD.com's retail network and property holdings, with Jia Bao operating around 90 stores in Hong Kong [4] Group 4: Netflix Performance - Netflix reported Q2 revenue of USD 11.1 billion, a year-on-year increase of 16%, benefiting from subscriber growth and price increases [6] - The company raised its 2025 revenue guidance to USD 44.8 billion - USD 45.2 billion, reflecting a year-on-year growth of 15% - 16% [8] - Netflix's operating profit for Q2 increased by 45% to USD 3.8 billion, with a profit margin of 34.1%, up 7 percentage points year-on-year [6][8] Group 5: Future Outlook for Netflix - Netflix is expected to enter a strong content cycle in the second half of the year, with significant new releases planned [7] - The company anticipates an increase in content amortization costs but expects overall operating profit margins to remain robust [7] - The stock price target for Netflix has been raised to USD 1,379, reflecting a 48.3x/40.3x P/E ratio for 2025E/2026E [8]

Core Viewpoint - Netflix is set to release its latest quarterly earnings report, with its stock price nearing a three-year high, raising significant interest in the company's future prospects [1] Group 1: Earnings Expectations - Analysts expect Netflix to report a second-quarter earnings per share of $6.70 and revenue of $11.3 billion, representing year-over-year growth of 24% and 15% respectively [1] - The market has high expectations for Netflix's upcoming slate of major sequels, including the highly anticipated "Stranger Things" [1] Group 2: Business Model Transformation - Netflix has diversified its growth drivers by optimizing its business model, which now includes advertising sales, subscription price increases, and live events such as sports and concerts [5] - The company has stopped reporting quarterly user data, shifting investor focus towards revenue and profit expectations [5] - Analysts from Bank of America believe Netflix is well-positioned due to its unmatched scale in the streaming sector, further user growth potential, and significant opportunities in advertising and live sports/events [5] Group 3: Valuation Concerns - Despite an optimistic outlook, high valuation levels have raised concerns among some analysts, with Seaport Research Partners downgrading Netflix's rating from buy to neutral [6] - Analysts caution that if Netflix fails to raise its full-year sales guidance of $43.5 billion to $44.5 billion, it may disappoint investors [6] - There are concerns about changing viewing habits, with YouTube potentially surpassing Netflix in the U.S. streaming market [6] Group 4: Analyst Ratings and Market Sentiment - Over two-thirds of analysts have given Netflix a buy or equivalent rating, with expected revenue growth rates for the next three quarters ranging from 14% to 16% [7] - Analysts generally view Netflix's high multiples as a reflection of market enthusiasm for its anticipated content, including new series like "Wednesday" and "Happy Gilmore 2" starring Adam Sandler [7]

Core Viewpoint - Netflix is approaching its highest valuation level since 2022, with significant market attention on its upcoming Q2 earnings report and future outlook, as analysts expect continued growth momentum [1] Financial Performance Expectations - Analysts predict that Netflix's Q3 earnings per share will reach $6.70, with revenue of $11.3 billion, representing year-over-year growth of 24% and 15% respectively [1] - The company has stopped disclosing quarterly subscriber numbers, shifting focus to revenue and profit performance [3] Market Sentiment and Analyst Opinions - If Netflix does not raise its full-year revenue forecast of $43.5 billion to $44.5 billion, it may lead to market disappointment [4] - The stock has doubled in value over the past year, adding approximately $250 billion in market capitalization, with a current P/E ratio of 43, significantly higher than the Nasdaq 100 average of 27 [4] - Analysts attribute the stock price increase to popular content such as "Stranger Things," "Wednesday," and "Happy Gilmore 2" [4] Competitive Landscape - There are indications of shifting consumer preferences that may challenge Netflix's market leadership, particularly from platforms under Google, despite Netflix not viewing YouTube as a direct competitor [4] - The Seaport research team downgraded Netflix's rating from "Buy" to "Neutral," suggesting that the current stock price has fully priced in expectations for advertising expansion and market share growth [4] - The options market indicates a projected stock price volatility of about 6.5% following the earnings report, lower than the average of 9.3% over the past three years, reflecting cautious market expectations [4] Growth Strategies - Netflix is diversifying its business model to seek breakthroughs, including advertising sales, subscription fee increases, and live sports and concert streaming [7] - Analysts from Bank of America highlight Netflix's unmatched scale advantage in the streaming sector, user growth potential, and improving profitability and free cash flow as key competitive strengths [7] - Over two-thirds of analysts maintain a "Buy" rating, forecasting revenue growth rates to remain between 14% and 16% over the next three quarters [7] - Netflix's business is noted to be less affected by tariff fluctuations or factors related to China, positioning it strategically advantageous compared to other tech giants [7]

后来，在美国法律的限制下，好莱坞大制片厂无法再继续垂直掌控电影的各个环节，于是他们开始进行横 向并购。经过几十年的发展，好莱坞的制片厂格局从当年的「5 大 3 小」，逐渐变成了由华纳兄弟、派拉 蒙、索尼、迪士尼和环球组成的好莱坞 5 大传统制片厂。除此之外， 随着流媒体的崛起，制片方式完全不 同的流媒体巨头奈飞，如今也被业内看作是好莱坞巨头之一。 2019 年，总部也设在好莱坞的奈飞，宣布正 式加入美国电影协会（MPAA），成为了协会里的第一位流媒体视频服务成员。 ▲ 好莱坞 5 大传统制片厂 | 图源：Backstage 可以说，在过去几十年里，好莱坞巨头们的命运一直紧密地联系在一起。而最近几年，他们也面临着同样 的挑战。2020 年，疫情重创全球电影产业。疫情结束后，2023 年又迎来了美国编剧工会和演员工会大罢 工，导致 2024 年的好莱坞新片供应不足。 在很多人心目中，好莱坞一直都被看作是美国乃至全球电影工业的代名词。甚至「好莱坞大片」也已经成 为了人们对于美国高水准、大制作电影的一种形容。但最初，好莱坞其实是美国加州的一个市，直到 1910 年，它和洛杉矶市合二为一，好莱坞也就因此成为了洛杉矶市的 ...