Core Viewpoint - The article discusses the evolving strategies of offline drama promotions, highlighting the shift from traditional methods to more interactive and sensational approaches, such as "wedding-style" promotions and CP (couple pairing) marketing, which aim to generate buzz and attract audience attention, but raise questions about their effectiveness in driving actual viewership of the series [1][8][14]. Group 1: Offline Promotion Strategies - The offline promotion for the drama "献鱼" involved a wedding-themed event where the lead actors engaged in various interactive activities to create a lively atmosphere [2][3]. - The rise of offline drama promotions is attributed to the saturation of online marketing, leading creators to seek more direct engagement with audiences [5][6]. - Successful offline promotions have shown that interactive elements can generate significant online buzz, making them a popular choice for drama marketing [4][6]. Group 2: Impact on Audience Engagement - While offline promotions like dancing and CP interactions can attract attention, there is skepticism about whether these methods effectively convert viewers into actual fans of the series [8][12]. - Many viewers express dissatisfaction with the focus on sensationalism rather than substantive content, questioning the long-term value of such promotional tactics [10][12]. - The article suggests that a return to content-focused promotions, where creators engage in meaningful discussions about the series, could better serve both the audience and the creators [13][14].

Core Insights - Mango TV's revenue for the first half of 2025 was 5.964 billion yuan, a decrease of 14.31% year-on-year, while net profit attributable to shareholders was 763 million yuan, down 28.31% year-on-year [1][2] Financial Performance - Revenue breakdown: - Internet video business generated 4.883 billion yuan, down 1.5% - New media interactive entertainment content production earned 606 million yuan, down 4.34% - Content e-commerce revenue was 446 million yuan, down 67.09% - Other businesses saw revenue of 28.45 million yuan, up 127.69% [3][4] - Membership revenue reached 2.496 billion yuan, showing slight growth, while advertising revenue was 1.587 billion yuan, with a notable recovery in Q2 [5] - The company reported a net cash flow from operating activities of 460 million yuan, a significant improvement from a negative cash flow of 180 million yuan in the previous year [2] Strategic Initiatives - The company increased content and R&D investments despite a general industry trend of cost-cutting, leading to a rise in internet video business costs by 11.78% and R&D spending by 26.41% [2][6] - Mango TV plans to launch 1,179 micro-dramas, a nearly sevenfold increase from the previous year, and is adapting popular IPs into short dramas [7] - The company is also expanding its content e-commerce segment, with its subsidiary Xiaomang e-commerce achieving profitability for the first time [6] Market Position - As of June 2025, Mango TV had an average monthly active user count of 27.6 million, ranking third among major video platforms [5] - The company’s stock closed at 25.53 yuan per share, with a total market capitalization of 47.8 billion yuan [8]

Core Viewpoint - The article discusses the evolving nature of offline drama promotion events, highlighting a shift from genuine engagement between creators and audiences to a focus on "CP" (couple pairing) marketing, which may detract from the original intent of promoting the drama itself [5][14][27]. Group 1: Evolution of Offline Promotion - Offline drama promotion events, originally intended to foster direct communication between creators and fans, have increasingly become dominated by CP marketing, where the focus is on romantic interactions rather than the drama's content [5][14]. - The rise of offline drama promotion has been driven by the saturation of online channels, leading to a new promotional model that emphasizes live interaction and emotional engagement [7][9]. - The effectiveness of this offline marketing strategy is evident, as it has transformed from an optional addition to a necessary component of drama promotion, with significant investment from production companies [7][9][10]. Group 2: Impact on Audience Perception - The shift towards CP marketing has led to a change in audience expectations, where viewers are more interested in the romantic dynamics between actors than the actual storyline or character development [21][24]. - This trend has resulted in a disconnect between the promotional activities and the actual content of the dramas, often leading to viewer disappointment when the on-screen chemistry does not match the promotional hype [24][27]. - The increasing demand for "sugar" (romantic content) in promotions has created a cycle of escalating expectations, where audiences continuously seek more intense displays of affection from actors [24][27]. Group 3: Risks and Future Directions - The current trajectory of offline drama promotions raises concerns about the sustainability of this marketing approach, as it risks alienating viewers who seek substantive storytelling rather than superficial interactions [22][27]. - The industry faces a dilemma: whether to continue down the path of CP-centric promotions or to refocus on the core elements of storytelling and character development that truly resonate with audiences [19][27]. - Ultimately, the article suggests that while CP marketing can be a valuable tool, it should not overshadow the fundamental purpose of drama promotion, which is to engage audiences with compelling narratives and character arcs [27].