11月28日晚，在2025年电影市场贺岁档（11月28日至12月31日）开启首日，《疯狂动物城2》总票房突 破（含预售）10亿元，成为3年来首部票房过10亿元的引进片。 一位影院管理公司的人士坦言："我们之前就感觉《疯狂动物城2》的票房一定会过10亿元，但之前以为 会是在下周初，也是12月份刚开始的那一两天，但现实比我们预计的早了两天。" 若《疯狂动物城2》的总票房如灯塔AI预测达到27亿元，这就意味着，该片将成为中国内地电影市场引 进片的影史亚军，仅次于《复仇者联盟4》的42.5亿元。 为何《疯狂动物城2》会成为近年来首部票房破10亿元的引进片？该人士认为，一是该片的前作此前收 获的高口碑打好了基础；二是动画电影在IP建设、衍生开发、传播等方面较真人电影往往具备优势，特 别是对于擅长衍生开发的迪士尼而言，能够在两部影片上映的间隔期，很好地维持甚至提升影片的热 度。 据媒体报道，自2023年12月以来，"疯狂动物城"IP在大中华区的授权业务已实现3倍增长。在上映前， 已有60多个品牌提前押宝联名合作，提前抢占这一IP红利，其中就包括星巴克、优衣库、瑞幸、名创优 品、周大福等。预计到2025年年底将推出超200 ...

Core Insights - The total box office revenue for Chinese films has surpassed 45.9 billion yuan, with animated films showing particularly strong performance [1] - The year marks the 120th anniversary of Chinese cinema, highlighting the significance of animated films within the industry [1] - The animated film "Lao Lao Mountain Little Monster" has achieved a box office of 1.717 billion yuan, making it the highest-grossing 2D animated film in Chinese history, attracting over 47 million viewers [1] - The film has received widespread acclaim for its emotional depth and unique national aesthetic [1]

央视网消息：截至目前，中国电影全年票房已突破459亿元，其中动画电影表现尤为突出，票房前五名中有两部都是动画电影。今年是中 国电影120周年，作为中国电影的重要组成部分，动画电影的发展受到广泛关注。 作为今年备受关注的动画新作，《浪浪山小妖怪》以"浪浪山"底层小妖怪的成长故事为切入点，用幽默治愈的叙事包裹"平凡与梦想""勇 敢出发"的深刻思考，最终以17.17亿元票房登顶中国影史二维动画冠军，吸引超4700万人次观影，更凭细腻情感表达与独特国风美学收获广泛 好评。 上海大学上海电影学院教授刘海波称："任何人只要走出去，敢于上路，都有可能找到自己的意义和价值，我觉得这是这部电影呼应了当 前年轻人的这种时代感受。主创也没有拘泥于当前主流的三维动画，采用了性价比更高，而且也更具上美影传统的二维动画的形式。" 《浪浪山小妖怪》的成功为中国动画的发展提供了生动范本。近日，由中国电影家协会动画电影工作委员会与上美影联合主办的动画电影 《浪浪山小妖怪》专题研讨会在京举行。专家共识认为，中国动画当下应走"技术适配美学" 路径，要坚守优秀作品的创作根本，植根中华优 秀传统文化，用真实打动人、以情感联结人、借思想影响人。同时要持 ...

Core Viewpoint - The sixth Yangtze River Delta International Cultural Industry Expo emphasizes the integration and high-quality development of the cultural industry in the Yangtze River Delta region, showcasing over 1,500 cultural industry-related entities and a total exhibition area of 80,000 square meters [3][6]. Group 1: Event Overview - The expo is co-hosted by the propaganda departments of Shanghai, Jiangsu, Zhejiang, and Anhui, with the theme "Cultural Empowerment for Economic and Social Development" [3]. - The event features a "1+6" exhibition format, including one comprehensive development section and six specialized exhibitions, along with 126 industry summits and performances [3][5]. - The "Yangtze River Delta Smart Cultural Industry Fund" was officially launched, and several key research publications were released, including the "Yangtze River Delta Cultural Industry Development Blue Book" [3][6]. Group 2: Regional Highlights - Shanghai's exhibition area showcases various cultural innovations, including immersive experiences and technology integration, such as the "Shen Yu Li" light show and the "IP Star Chain Factory" [4][5]. - Jiangsu's exhibition covers 2,000 square meters with themes like "Su Chao" and features over 10,000 cultural products, including innovative tech like AR glasses [5]. - Zhejiang's 2,000 square meter area highlights cultural heritage and digital entertainment, showcasing ancient crafts and modern cultural exports [5]. Group 3: Industry Development and Collaboration - The expo includes multiple industry forums and trade meetings focusing on emerging topics like the immersive industry, AI, and cultural tourism investment [6]. - The event aims to activate cultural consumption and promote the high-quality integration of the cultural industry in the Yangtze River Delta, contributing to regional economic and social development [6].

Core Insights - The cinema industry is facing significant challenges as box office revenues per screen have dropped below 500,000 yuan, leading to over 15 cinema closures in just half a month [1][3] - Major cinema chains like Wanda Film and Shanghai Film are adapting their strategies, with Wanda Film shifting focus from franchise models to direct ownership of cinemas [5][6] - The industry is transitioning from a growth phase to a focus on optimizing existing assets, emphasizing the need for differentiation and enhanced consumer experiences [8][11] Industry Trends - The number of cinema screens in China is approaching 100,000, but the average annual box office per screen is declining [1] - Major cinema chains are experiencing structural challenges despite holding significant market shares, indicating a need for transformation [1][3] - Non-box office revenue streams are becoming increasingly important, with competition in this area likely to shape the industry's future [3][9] Company Strategies - Wanda Film has paused its franchise model and is focusing on direct ownership, which currently accounts for about 15% of its total box office revenue [5][6] - The company is implementing standardized management practices across its direct cinemas to ensure brand consistency and operational efficiency [7] - Shanghai Film is also exploring diverse revenue streams and enhancing customer experiences to remain competitive in a saturated market [8][11] Financial Performance - Wanda Film's direct cinemas have increased to 229 locations, reflecting a strategy aimed at improving operational efficiency and profitability [7] - The non-box office revenue is rapidly growing, with significant contributions from IP collaborations and merchandise sales, indicating a shift in revenue generation strategies [10][12] Market Dynamics - The cinema market is entering a phase of optimization, where operational excellence and unique consumer experiences are critical for survival [8][11] - The industry is witnessing a shift in consumer behavior, necessitating cinemas to innovate and adapt to changing preferences [9][12] - The focus is moving towards creating immersive experiences and leveraging technology to attract a broader audience [11][12]

Core Insights - The animation film industry in China is experiencing a resurgence, shifting focus from creating standalone works to developing intellectual properties (IPs) that can generate multiple revenue streams [2][3][22] Industry Trends - Domestic animation films have a clear advantage in the IP sector due to their broad audience appeal and reduced risks associated with geopolitical tensions, particularly with Japan [3] - Despite a generally sluggish film market, animation has shown strong performance, with titles like "Nezha: Birth of the Demon Child" and "Boonie Bears" achieving significant box office success [3][6] Company Strategies - Companies like Light Chaser Animation have pivoted towards IP management, with successful franchises like "Nezha" leading to extensive merchandise development, covering over 30 categories and 500 products, with potential total sales reaching hundreds of billions [5] - Shanghai Film has also capitalized on IPs, with "Wandering Earth" contributing to a 101.6% year-on-year revenue increase in Q3, amounting to 3.61 billion yuan [6] - Wanda Film, leveraging its strong distribution channels, has expanded into gaming and merchandise, creating over 60 types of products related to "White Snake: The Legend" [11] Future Developments - Light Chaser is advancing multiple projects, including sequels and new IPs, while also exploring merchandise opportunities in various sectors, including gaming and theme parks [7] - Shanghai Film is actively developing its own products and collaborating with over 40 brands, with expectations for derivative sales to exceed 2.5 billion yuan by year-end [9] - Companies like Maoyan Entertainment are entering the animation space with new brands and IP collaborations, indicating a growing trend in the industry [19][20] Market Dynamics - The industry is witnessing a shift towards non-box office revenue, with companies aiming to replicate the successful revenue models seen in Hollywood, where box office and non-box office income are more balanced [22] - The current wave of IP and derivative product development reflects a strategic response to market trends, with companies diversifying their offerings beyond traditional film revenue streams [22]

近日，《中国奇谭》宣布，其续作《中国奇谭2》将于2026年元旦上线。由《中国奇谭》中《小妖怪的夏天》衍生 的动画电影《浪浪山小妖怪》也将于11月21日全网上线，2025年，该片以17.17亿元票房刷新票房纪录，成为影史 票房最高的2D动画电影。票房成绩之外，其IP衍生品开发的累计销售金额已近2.5亿元，产业图谱中有超过40个联 名品牌、800多款衍生品，涵盖多个领域。这一成绩让人不禁回想起总制片人李早在2023年采访中说的那句"《中 国奇谭》还不能靠衍生品回本"。 陈莲华导演在《疯狂动物城：动物城日与夜》中创作的剪纸动画《睡了"咩"》剧照。 《中国奇谭2》将于2026年元旦上线。 上美影围绕着"浪浪山"的内容和商业开发成绩斐然，但回看整个《中国奇谭》项目，这种对创作者个人的放大或 是对IP的多点开发存在着不均衡问题。"奇谭宇宙"能否赋能更多作品与创作者，答案有待《中国奇谭2》乃至后续 作品解答。 更多创作者被看见，但放大效果有限 《中国奇谭》中有11位导演带来八个故事，即将上线的《中国奇谭2》中，将由12位导演带来九个新故事。第二季 导演阵容中包含《鹅鹅鹅》《林林》《小满》《小卖部》等参与过第一季的导演，他们 ...

Core Insights - The cinema industry is facing significant challenges, with a decline in annual box office revenue per screen dropping below 500,000 yuan, leading to over 15 cinema closures in just half a month [1] - Major cinema chains like Wanda Film and Shanghai Film are adapting their strategies, with Wanda shifting focus from franchise models to direct management, while Shanghai continues to expand its franchise network [1][3] - The competition in the cinema industry is increasingly shifting towards non-box office revenue streams, which will play a crucial role in determining the industry's future landscape [1] Group 1: Industry Challenges - The number of cinema screens is approaching 100,000, but the average annual box office per screen has decreased significantly [1] - The market is experiencing a "window period" after the popularity of films like "Nezha: Birth of the Demon Child" has waned, highlighting the need for strategic adjustments [1] - The structural challenges faced by leading cinema chains reflect the broader transformation challenges within the industry [1] Group 2: Strategic Shifts - Wanda Film has halted new franchise agreements, focusing instead on direct management of its cinemas, which account for approximately 15% of its total box office revenue [5] - The shift in strategy is linked to Wanda's recent transition to an independent publicly listed company, moving away from the Wanda Group's previous operational model [5] - Shanghai Film continues to open franchise opportunities, indicating a divergence in strategic approaches among leading cinema chains [1][3] Group 3: Non-Box Office Revenue - The competition for non-box office revenue is expected to intensify, with cinema operators exploring diverse business models to enhance profitability [1] - Wanda Film has successfully integrated gaming and other entertainment experiences into its cinema offerings, generating significant additional revenue [12] - Shanghai Film is also pursuing a comprehensive approach to IP management, demonstrating the potential for substantial non-box office income through merchandise and brand collaborations [13][15]

Core Insights - The cinema industry is facing significant challenges, with a decline in annual box office revenue per screen dropping below 500,000 yuan, leading to over 15 cinema closures in just half a month [1] - Major cinema chains like Wanda Film and Shanghai Film are adapting their strategies, with Wanda shifting focus from franchise models to direct management [1][5] - The industry is transitioning from a growth phase to a focus on optimizing existing assets and enhancing quality, with an emphasis on non-box office revenue streams [10][12] Group 1: Industry Challenges - The number of cinema screens is approaching 100,000, but the average annual box office per screen is decreasing, indicating a saturated market [1] - The market is experiencing a "window period" after the popularity of films like "Nezha: Birth of the Demon Child" has waned, highlighting the need for strategic shifts among cinema operators [1] - The competitive landscape is intensifying as cinema chains must innovate beyond traditional box office revenue to survive [1][10] Group 2: Strategic Shifts - Wanda Film has halted new franchise agreements, focusing instead on direct management of its cinemas, which account for approximately 17% of the industry’s total box office [5][6] - The shift to a direct management model is a response to the company's recent independence from the Wanda Group, allowing for a more focused operational strategy [5][6] - Shanghai Film continues to open franchise opportunities, indicating a divergence in strategy among leading cinema chains [1][5] Group 3: Non-Box Office Revenue - The cinema industry is increasingly looking to enhance non-box office revenue through diversified offerings, such as partnerships with gaming and merchandise [12][13] - Wanda Film has successfully integrated gaming experiences into its cinemas, generating significant additional revenue [12][13] - The focus on creating unique consumer experiences and leveraging intellectual property (IP) is seen as essential for future growth and sustainability in the cinema sector [10][12][15]

Core Insights - The cinema industry is facing significant challenges, with a decline in annual box office revenue per screen dropping below 500,000 yuan, leading to over 15 cinema closures in just half a month [2] - Major cinema chains like Wanda Film and Shanghai Film are adapting their strategies in response to market pressures, focusing on direct management rather than franchise models [4][6] Industry Overview - The number of cinema screens in China is approaching 100,000, yet the market is experiencing a structural downturn, prompting leading cinema investment companies to rethink their operational strategies [2] - The shift from a franchise model to a focus on direct management is evident, with Wanda Film halting new franchise agreements while Shanghai Film continues to expand its franchise network [2][4] Strategic Adjustments - Wanda Film's management has emphasized a strategic pivot towards direct operations, which currently account for approximately 15% of its total box office revenue, as opposed to the 2% from franchise operations [6] - The company is undergoing a transition following its acquisition by Ru Yi Film, moving away from the Wanda Group's influence and focusing on long-term operational sustainability [6][7] Market Trends - The cinema industry is entering a phase of optimization, where the focus is shifting from expansion to enhancing operational efficiency and customer experience [9] - The competition is expected to intensify in non-box office revenue streams, with companies exploring diverse business models to attract audiences beyond traditional film screenings [11][12] Revenue Diversification - Companies are increasingly looking to enhance non-box office revenues through collaborations with popular IPs and gaming, as seen with Wanda Film's partnerships that have generated significant additional revenue [11][12] - The success of films like "Wang Wang Mountain Little Monster" demonstrates the potential for substantial non-box office income, with the IP generating over 2.5 billion yuan in merchandise sales [13]