首个横幅广告问世至今已经 31 年了，广告技术早已成为全球商业的重要组成部分。在美国，广告技术行业直接创造了 154 万个就业岗位，营收达 9740 亿 美元，还为美国整体数字经济发展注入强劲动力，推动其规模接近 5 万亿美元，这一数字占美国国内生产总值（GDP）的18%。 那么，行业高管必须具备哪些品质，才能确保广告公司持续发展呢？ 据统计，目前有近 1 万家企业在广告技术领域开展业务，每年新增相关企业超 400 家。这些企业涵盖了数十个专业领域，具体包括供应预测、隐私保障和 跨平台整合等，其所构成的广告服务体系已成为营销和媒体行业的核心环节。广告技术行业走过了数十年的发展历程，其间历经市场动荡、探索试错、企 业整合与技术迭代。而 AI 作为迄今为止最具颠覆性的变革力量，正在深度重塑整个行业：就连世界 500 强企业，也会与成立仅 18 个月的新兴公司展开 合作。 为了揭示新一代广告技术高管必须具备的核心特质，广告技术领域资深从业者Ann Blinkhorn、美国互动广告局（IAB）CEO Randall Rothenberg访谈了多 位广告技术领域的领军人物，包括IAS首席执行官Lisa Utzschne ...

Market Overview - A-shares showed mixed performance in the past week (September 15-19), with the Shanghai Composite Index down 1.14% to 3820.09 points, while the Shenzhen Component Index rose 1.14% to 13070.86 points, and the ChiNext Index increased by 2.34% to 3091 points [2] - Over 32% of stocks experienced gains during the week, with 122 stocks rising over 15% and 16 stocks declining over 15% [2] Top Performing Stocks - The top-performing stock, Taimusi (001234.SZ), surged over 61% during the week, followed by Dekeli (688205.SH) with a 59.09% increase [2][3] - Taimusi specializes in the research, production, and sales of knitted fabrics and garments, providing OEM services for well-known brands like Decathlon and Anta [2][6] Stock Control Change - Taimusi is preparing for a change in control after over three years of listing, with the new controlling entity being the Guangzhou Municipal Government [6] - The controlling shareholder, Ruzhou Xintai, plans to transfer 29.99% of its shares to Guangzhou Light Industry, which will result in a change of control [6] - The transfer price must be between 90% of the closing price on the day before the agreement and the upper limit set by regulatory authorities [6] Financial Performance - Taimusi reported a revenue of approximately 380 million yuan for the first half of 2025, a decrease of 16.34% year-on-year, and a net profit of about 29.71 million yuan, down 43.69% year-on-year [7] Underperforming Stocks - The worst-performing stock, Zitian Tui (300280.SZ), fell 81.75% during the week, with other stocks like *ST Dongtong and *ST Gaohong also experiencing significant declines [9] - Zitian Tui's main business involves modern advertising services, including internet and building media advertising [9] Regulatory Actions - The China Securities Regulatory Commission issued an administrative penalty against *ST Zitian for inflating revenues by a total of 2.499 billion yuan over two years [10] - Following the penalty, *ST Zitian's stock was delisted, entering a 15-day trading period before final delisting [10]

中金主要观点如下： 广告行业整体温和增长，分广告类型、广告主存在一定分化 行业温和增长：2Q25宏观环境相对稳定，广告行业温和增长。根据CTR媒介智讯，1H25广告市场整体 花费微增0.6%。分广告类型看：1)互联网广告增速较高，QuestMobile数据显示互联网广告收入2Q同增 7%，多家公司依托电商、社区内容生态推动广告收入增长。2)线下广告方面梯媒表现较好，CTR数据 显示LCD、海报广告实现较快增速，分众传媒（002027）2Q25增速环比提速。 分广告主：汽车行业、互联网(即时零售)及新兴内容(短剧、小游戏)投放提升，消费品行业内部分化。 从618购物节来看，多家公司获得增量预算，驱动了整体行业2Q增速。 中金发布研报称，2Q25整体广告板块收入端表现符合预期，分广告类型看，线上广告维持了低双位数 的增速；线下广告及广告服务商因宏观环境、自身业务调整等因素部分公司收入承压。展望下半年，互 联网广告主要关注即时零售投放增长的可持续性；细分赛道广告主要关注汽车、通信、AI等细分赛道 的结构性增长；新广告模式空间方面，主要关注分众"碰一下"、多端化广告、AI搜索广告等新模式带来 的增量空间。 AI赋能广 ...

以前买东西会遇到"鬼称"，现在没想到看视频还会遇到"鬼表"。近日有媒体报道称，多个互联网平台标 识为80秒、120秒的广告，实际播放时间皆多于标明时长，这些互联网广告正在用这种意想不到的手段 悄悄偷走用户的时间。 ...

01概述 1.1 全球摘要和宏观趋势 根据我们对54个国家/地区的12个娱乐及媒体细分市场信息的追踪调研，以及对消费者/终端用户与广告商的历史和5年预测的消费数据与分析，预计2029 年的全球娱乐及媒体行业的总收入约为3.51万亿美元，2029年的中国娱乐及媒体行业的总收入约为5,610亿美元，占全球16%。 | | 900 TS L K / Catt / 1 /1 // 2 // 1 / | | | --- | --- | --- | | . | B2B | OTT视频 | | | 电影 | 户外媒体 | | . | 互联网广告 | . 传统电视 | | | 混合实境 | 电子游戏及电子竞技 | | . | 音乐、广播及播客 | . 人工智能 | | | 书籍,报纸及杂志 | 互联网数据使用 | | . | 中国内地 | 德国 | | --- | --- | --- | | . | 香港 | 法国 | | . | 美国 | 印度 | | . | 日本 | 巴西 | | . | 英国 | 等等 …… . | | 全球 | 中国 | | --- | --- | | 2024-2029 | 2024-2029 | ...

Core Insights - In 2024, China's digital publishing industry is projected to achieve a total revenue of 17,485.36 billion yuan, representing an increase of 8.07% compared to the previous year [1][3]. Revenue Breakdown - The top four revenue sources in the digital publishing sector are internet advertising, online gaming, online education, and digital music, with internet advertising alone generating 7,583.6 billion yuan [3]. - The revenue from online literature is expected to reach 49.55 billion yuan, showing a year-on-year growth of 29.37% [5]. Industry Trends - The digital publishing industry is increasingly recognized for its social value, serving as a key medium for promoting traditional Chinese culture [3]. - The integration of artificial intelligence (AI) into the publishing sector is deepening, with a rise in the number of companies developing or applying AI technologies [4]. User Engagement - The user base for online literature has grown to 638 million, marking a 16% increase, with the total number of online literature works reaching 42.1 million, an 11.19% increase [5]. - The international reach of online literature has expanded significantly, with 30 million new overseas registered users and approximately 200 million active users [5]. Strategic Focus - The industry is urged to enhance data awareness and strategic planning, breaking down data barriers and promoting compliant data sharing [5]. - There is a call for the establishment of a collaborative mechanism among academia, industry, and research to foster a new ecosystem for knowledge services [5].

华扬联众最新股价报12.06元，较前一交易日上涨0.06元。盘中最高触及12.15元，最低11.95元，成交量 为67316手，成交金额达0.81亿元。 风险提示：市场有风险，投资需谨慎。 资金流向方面，华扬联众当日主力资金净流出115.35万元，近五个交易日累计净流出2533.87万元。 该公司属于文化传媒行业，主营业务涵盖数字营销、互联网广告等领域。近期华扬联众与控股股东湘江 集团共同出资4.02亿元设立合资公司，其中华扬联众现金出资2.05亿元持股51%。合资公司将整合城市 运营公司旗下文旅资产，包括国家3A级旅游景区巴溪洲生态旅游景区等项目。 ...

今天给大家分享一下2025年互联网广告市场。 在AI等技术变革的影响下，过去半年多，中国互联网广告市场的政策监管和行业规范持续演进，从数据安全监管到"隐性广告"监管、平 台透明化监管、出海广告投放监管，等等，互联网广告市场的规范化和秩序性都在持续提高。QuestMobile数据显示，整个2025年上半 年，中国互联网广告市场规模达到3598.5亿，同比增长5.6%。 总体上看，媒介平台流量分布相对集中，淘宝、抖音和微信位居前三，硬广收入市场份额分别达到22.5%、19.1%、10.8%；从设备终端 来看，移动端仍是核心，收入占比达到88.9%，OTT及智能硬件、PC占比分别为9%、2.1%；从营销触点来看，内容与渠道、AI应用和智 能硬件、跨平台聚合等等仍是核心。 基于此，可以看到组合营销模式可以帮助品牌构建体"锁定人群-渠道-内容"的闭环，实现转化效率的提升。例如，从营销人群画像上来 看，2025年6月，19-35岁下沉市场人群典型媒介偏好中，高德地图、抖音、QQ、微博、百度地图、京东、拼多多、快手等，对该人群的 渗透率均超过50%。 具体到各行业的投放情况来看，美妆护理仍是最活跃的行业，营销投放规模达到7 ...

Core Viewpoint - The company, formerly known as "Saturday Shoe Industry," is at a crossroads between traditional manufacturing and the digital economy, with its leader, Xie Ruidong, making a significant bet on transformation after substantial losses [2] Group 1: Transformation and Acquisition - In 2019, the company made a surprising decision to acquire 89% of the internet marketing firm Yaowang Network for 1.77 billion yuan, marking its entry into digital transformation [2] - The acquisition led to a surge in stock price, and the company rebranded as "Yaowang Technology" in 2022, shifting its focus from shoe manufacturing to a comprehensive service provider in live e-commerce and digital marketing [2] - The company has built a vast commercial ecosystem, signing over 70 celebrities and establishing a supply chain covering 25,000 brands, with shoe revenue dropping to only 8.37% by 2023 [2] Group 2: Financial Performance - Revenue increased from 2.151 billion yuan in 2020 to 4.777 billion yuan in 2023, more than doubling [3] - Despite revenue growth, the company reported a significant loss of 1.05 billion yuan in 2023, with stock prices plummeting over 70% from historical highs [4] Group 3: Challenges and Costs - The company faces multiple challenges, including heavy historical burdens from inventory clearance and increased bad debt provisions, leading to a decline in sales prices [4] - New business ventures have high costs, with the gross margin for internet advertising plummeting from 16.45% to 1.12%, and customer acquisition costs rising sharply [5] - Intense competition in the live e-commerce sector has diminished the company's bargaining power within the industry [5] Group 4: Business Model Vulnerability - The company's business model is fundamentally weak, relying heavily on external resources without user stickiness, leading to limited pricing power and squeezed profit margins [6] - As platforms like Douyin and Kuaishou build their own ecosystems, the survival space for intermediary service providers like Yaowang Technology is further threatened [6] Group 5: Future Strategic Choices - By 2025, the company faces critical strategic decisions, needing to address profitability issues and optimize its business structure while finding a competitive advantage [8] - The company must balance between expanding its scale for potential economies of scale and focusing on high-margin businesses, as well as deciding whether to continue its technology-driven transformation or revert to traditional strengths [8] - The outcome of these decisions will not only impact the company's survival but also serve as a significant case study for the digital transformation of traditional manufacturing [8]

普华永道中国内地及香港媒体行业主管合伙人邱丽婷表示，目前中国和美国是全球两大电影市场，中国 电影的收入份额预计至2029年将占全球总收入的22%。"目前中国电影市场在银幕数量、观影人数及影 片产量等方面在全球都处于领先地位。2024年期间，我国城市院线新增了4658个银幕，银幕总数达到 90968块，城市院线观影人数为10.1亿人次，从目前情况看，预计这一增长将在整个预测期内保持持续 态势。" 与此同时，中国电影在全球电影票房的影响力也在逐步提升，2025年上半年，16部国产片票房过亿元， 国产影片票房达292.31亿元，同比增长22.91%，国产影片份额升至91.2%，去年同期这一数字为 77.93%。 邱丽婷认为，2024年全球娱乐及媒体行业产业逐渐恢复，从收入看，全球总收入达到2.9兆美元，预计 到2029年将达到3.5兆美元。"更为重要的是，生成式人工智能的应用不仅可以提高效率和生产力，也推 动了跨行业新业务的开展，这对全球娱乐与媒体行业发展都是一个利好。" （文章来源：中国经营报） "预计2029年的中国娱乐及媒体行业总收入约为5610亿美元，占全球的16%。中国娱乐及媒体行业市场 2024至202 ...