Core Insights - The cultural and related industries in China achieved a total revenue of 1,095.89 billion yuan in the first three quarters of this year, reflecting a year-on-year growth of 7.9%, which is 0.5 percentage points higher than the growth rate in the first half of the year [1] - The core cultural sectors generated a revenue of 742.16 billion yuan, marking an 11.5% increase compared to the same period last year, with a growth rate that is 1.5 percentage points higher than the first half of the year [1] - The cultural service industry showed significant growth, with revenues reaching 606.26 billion yuan, up 11.9% year-on-year, and contributing 79.7% to the revenue growth of large-scale cultural enterprises [1] Industry Performance - Sixteen sub-sectors characterized by new cultural business models generated revenues of 488.60 billion yuan, representing a 14.1% increase year-on-year, which is 6.2 percentage points higher than the overall growth of large-scale cultural enterprises [2] - The sectors with the highest revenue growth include the manufacturing of entertainment drones, digital content services, internet advertising, and multimedia gaming [2] - Large-scale cultural enterprises reported a total profit of 90.93 billion yuan in the first three quarters, reflecting a 14.2% increase from the previous year, with 39 out of 43 industry categories achieving profitability [2]

Group 1 - The core viewpoint is that the cultural industry in China has shown significant growth in revenue and profit during the first three quarters of 2023, driven by strong policy support and the development of new cultural business models [1][2][3] Group 2 - In the first three quarters, the revenue of large-scale cultural enterprises reached 1,095.89 billion yuan, a year-on-year increase of 7.9%, with the core cultural sector achieving 742.16 billion yuan, up 11.5% [1] - The cultural service industry has made a notable contribution, generating 606.26 billion yuan in revenue, a growth of 11.9%, accounting for 55.3% of the total revenue of large-scale cultural enterprises [2] - New cultural business models have rapidly developed, with 16 sub-sectors generating 488.60 billion yuan, a year-on-year increase of 14.1%, contributing 74.7% to the revenue growth of large-scale cultural enterprises [2] Group 3 - The total profit of large-scale cultural enterprises reached 90.93 billion yuan, a year-on-year increase of 14.2%, with a profit margin of 8.30%, up 0.45 percentage points from the previous year [3] - Out of 43 industry categories, 39 reported profits, with significant contributions from digital content services and information service terminal manufacturing [3]

Core Insights - In 2024, Jiangsu's cultural and related industries achieved a record high operating income of 22,546 billion yuan, marking a year-on-year growth of 12.8% [8][11][17] - The cultural new business formats contributed significantly to this growth, with an operating income of 5,221 billion yuan, up 15.5% from the previous year, accounting for 23.2% of the total cultural industry revenue [14][17] - The cultural manufacturing, wholesale and retail, and service sectors also showed positive growth, with revenues of 8,083 billion yuan, 5,483 billion yuan, and 8,980 billion yuan, respectively [8][11][17] Revenue Growth by Sector - Cultural manufacturing achieved an operating income of 8,083 billion yuan, growing by 8.3% [8][11] - Cultural wholesale and retail saw a significant increase of 37.8%, reaching 5,483 billion yuan [8][11] - Cultural service industry revenue grew by 5.2%, totaling 8,980 billion yuan [8][11] Revenue Growth by Industry - The nine major industries within the cultural sector experienced overall revenue growth, with notable increases in cultural communication channels (44.1%), cultural consumer terminal production (28.3%), and news information services (19.0%) [11][14] - Other industries such as cultural auxiliary production and intermediary services, cultural equipment production, and cultural entertainment services showed stable growth rates of 7.0%, 6.7%, and 4.8%, respectively [11][14] Asset Growth - By the end of 2024, the total assets of Jiangsu's cultural industry reached 57,949 billion yuan, an increase of 4,630 billion yuan or 8.7% from the previous year [12][13] - The cultural core and related fields contributed significantly to asset growth, with core field assets reaching 45,199 billion yuan, growing by 10.3% [13] R&D Investment - Cultural enterprises invested 43.53 billion yuan in research and development (R&D) in 2024, reflecting a 3.5% increase year-on-year [14] - The number of R&D personnel in large-scale cultural enterprises reached 125,000, with women making up a growing proportion [14] Contribution of New Business Formats - The 16 industries characterized by new business formats generated 5,221 billion yuan in revenue, contributing 27.2% to the overall growth of the cultural industry [14] - These new formats include sectors such as smart cultural consumption devices and internet services, which have shown significant revenue-driving effects [14]