擎华控股(08082)发布公告，与截至2024年6月30日止六个月取得净亏损约859万港元相比，预期集团截 至2025年6月30日止六个月将取得净亏损介于约2600万港元至3100万港元。 本期间业绩的亏损及本期间的公司拥有人应占亏损大幅增加乃主要由于所投资及筹办的演唱会市场表现 欠佳导致毛利仅约70万港元，而截至2024年6月30日止六个月则取得毛利约4320万港元。 ...

魔童大战魔都 事实上，早在时代少年团门票抢购阶段，这场演唱会的人气火爆就已初露端倪。 据网传消息，此次演唱会有多达500万人争抢18万张门票，开售后短短5秒内便全面售罄，抢票激烈程度可见一斑。 谁是时代少年团？ 不少中年人满腹疑惑，毕竟，他们的记忆还停留在TFboys。 作为时代峰峻推出的第二代男团，时代少年团由马嘉祺、丁程鑫、宋亚轩、刘耀文、张真源、严浩翔、贺峻霖七名成员组成，于2019年8月正式出道，如今已成为 新一代年轻人的偶像。 票务平台数据显示，本次演唱会观众以年轻女性为主，25岁以下占比超过80%，其中超过四分之一为未成年人。因此，现场首次设置了外围家长等候区，出现了场 内粉丝云集、场外父母扎堆的现象。 可怜天下父母心，由于等候区位于室外，许多父母举着遮阳伞、拎着零食袋，在高温下默默等待散场的孩子。 演唱会检票工作提前4小时启动，现场部署了大量安保人员维持秩序。但仍有狂热粉丝试图将应援灯牌带入场内，与安保人员发生争执。 更令人咋舌的是，社交平台上甚至流传着荒谬的"时代少年团粉丝被沪C牌照车辆带走""两名粉丝因灯牌被没收跳江身亡"等未经证实的传言，实在夸张。 追星虽非新鲜事，但新一代年轻人的追星方式 ...

Core Viewpoint - The concert industry in Shanghai is significantly boosting consumption in related sectors such as performances, accommodation, dining, and shopping, with businesses leveraging the "ticket root economy" to connect concerts with other consumer activities [5]. Group 1 - The concert events are driving economic activity in Shanghai, particularly in the performance, lodging, dining, and retail sectors [5]. - Businesses are adopting a "ticket root economy" strategy to link concert attendance with additional consumer spending [5]. - The popularity of stars is supported by management companies that create a "idol cultivation" business model, utilizing data and traffic to unlock more business opportunities [5].

Core Viewpoint - The concert industry in China is experiencing significant growth, with a projected box office revenue of 29.636 billion yuan in 2024, representing a 66% year-on-year increase, while the film industry has only benefited from a one-year consumption rebound in 2023 [4][7]. Group 1: Market Trends - The concert market is not showing signs of saturation despite frequent tours by top artists, as they continue to innovate by inviting high-profile guests to attract new audiences [4][7]. - The audience composition for concerts shows a predominance of female attendees at 66.1%, with the age group of 25-29 years being the largest demographic [7][8]. - The frequency of attendance is increasing, with 16% of concertgoers attending two concerts a year, up 2.8% year-on-year, and 9.2% attending three or more, up 2.2% year-on-year [7][8]. Group 2: Consumer Behavior - Many concertgoers view attending concerts as an addictive experience, often prioritizing concert tickets over other expenditures, indicating a shift in consumer spending habits [8][9]. - Concerts are seen as a form of emotional consumption, providing therapeutic benefits and a way to fulfill past regrets of not attending concerts during youth [9][10]. Group 3: Experience and Differentiation - The concert experience is evolving into an immersive product that combines music, karaoke, and exhibition elements, catering to both the need for live music and social media engagement [11][12]. - Different artists offer varied concert experiences, with some focusing on elaborate stage designs while others emphasize a more intimate performance style [12][14]. - The concert market is characterized by a distinction between national-level artists and niche artists, with the former attracting a broader audience and the latter focusing on deepening connections with dedicated fans [14][15].

Core Insights - The integration of sports, culture, and tourism is driving a new wave of consumption, with events and performances becoming key economic engines for the tourism sector [1][2][5] - The ticketing economy is emerging as a vital lever for stimulating consumption across various sectors, including travel, accommodation, and local cultural experiences [6][7] Group 1: Event and Performance Impact - The summer season has seen a surge in demand for performances and events, with terms like "sold out" and "crowded" highlighting the vibrant market [2] - Events such as concerts and sports competitions are not only attracting large audiences but also significantly boosting local economies through increased consumer spending [3][5] - For instance, a concert in Linyi attracted 120,000 fans, generating direct consumption of 320 million yuan and overall consumption of 460 million yuan [3] Group 2: Consumer Behavior and Preferences - Consumers are increasingly seeking multi-dimensional experiences, with travel plans often revolving around attending performances or events [6] - The trend of "traveling to watch a show" is gaining traction, as cities develop travel packages that combine local attractions with performances [3][4] - The rise of smaller, unique music festivals and events is catering to short-distance travelers, providing clear destination points [4] Group 3: Economic Growth and Opportunities - The integration of sports and cultural events is creating new business opportunities and growth potential within the tourism industry [5][7] - Data indicates that tourism bookings in Jiangsu province have increased nearly 200% since July, driven by sports events [5] - The market for immersive performances is expanding, with a growing demand for high-quality theatrical productions that enhance overall consumer experiences [7]

Core Insights - The performance market is experiencing significant growth, with total ticket sales reaching 34.23 billion yuan in July 2025, a nearly 60% increase from 22.19 billion yuan in July 2024, primarily driven by concerts which contributed over 90% of the revenue [1][3][4] - The gap between the performance market and the film box office is narrowing, with the latter at 40.67 billion yuan during the same period [1] Group 1: Concert Market Dynamics - Major artists like Mayday and Yi Yang Qian Xi are leading the concert scene, with Mayday's 12 shows at the Bird's Nest attracting massive crowds and ticket prices for Yi Yang Qian Xi's concert soaring to over 10,000 yuan in the secondary market [3][4] - The concert market is characterized by a "ticket-snatching economy," where fans actively share tips and strategies for securing tickets, reflecting the high demand and competitive nature of the market [4][5] Group 2: Evolving Audience Engagement - The integration of various entertainment forms, such as comedy and interactive elements, is reshaping the concert experience, making it more than just a passive viewing event [5][7] - Young audiences are increasingly seeking emotional engagement and participation, with concerts serving as platforms for collective experiences and self-identity [8][9] Group 3: Market Trends and Future Outlook - The rise of the "experience economy" indicates a shift in consumer preferences towards immersive and participatory events, positioning concerts as ideal venues for such experiences [9][11] - The evolving landscape of the concert market reflects broader cultural shifts and the need for brands to create diverse and engaging performance experiences to capture different age demographics [11][12]

Core Insights - The development of "performance economy" and cultural economy reflects the precision, warmth, and scientific governance of a city [1][3] Group 1: Economic Impact - Events and performances are becoming flagship products in the cultural tourism industry, with a notable return on investment; for every 1 yuan spent on tickets, 4.8 yuan is generated in surrounding consumption [1][2] - The 2025 World Men's Volleyball League in Xi'an saw 54% of attendees coming from outside the province, indicating a significant extension of the consumption chain during events [1] Group 2: Cultural Experience - The combination of "people," "culture," and "economy" is crucial for creating consumption scenarios, with performances and events serving as cultural invitations from the city [2][3] - In 2022, Xi'an hosted nearly 36,000 performances, attracting over 16 million attendees and generating revenue of 1.49 billion yuan, enhancing the city's cultural profile and local reputation [2] Group 3: Governance and Management - The success of the "performance economy" relies on effective city governance, including managing ticket prices, ensuring safety, and providing seamless transportation for attendees [3][4] - The overall development of the "performance economy" and cultural economy is indicative of the city's governance quality and efficiency [3]

新疆人流消费双增长 当前，正值暑期，旅游市场热度持续攀升。 中国旅游研究院预测，2025年暑期，国内旅游人数有望突破25亿人次，恢复至2019年水平的115%以 上，消费规模预计达1.8万亿元。 这一庞大的市场规模和消费潜力，成为经济增长的重要引擎。 从各个OTA平台报告来看，今年暑期红色旅游成为热门，同时，西北地区客流量与旅游消费均超预期， 此外，演唱会等演艺经济亦持续火爆。 红色旅游备受青睐 今年暑期，红色旅游市场焕发崭新活力。 途牛数据显示，暑期以来，途牛平台红色旅游产品预订热度增长显著。红色旅游用户"年轻化""亲子 化"的特征明显，80后、90后亲子家庭成为暑期红色旅游的主力军。 红色旅游热门目的地中，北京、南京、广州、长沙、遵义、韶山、宜昌、井冈山、南昌、延安等目的地 是暑期途牛用户更为热门的选择。 值得注意的是，今年是中国人民抗日战争暨世界反法西斯战争胜利80周年，与抗战历史有关的红色旅游 景点和场馆的热度显著高于去年同期。 特别是暑期档电影《南京照相馆》的热映，进一步推高了相关城市的旅游热度。 途牛数据显示，《南京照相馆》7月25日上映，7月25日-8月3日途牛平台南京目的地用户出游人次环比 前 ...

Core Insights - The music industry is significantly outperforming the film industry, with concert revenues contributing 90% of the total 220 billion RMB in the performance sector, which saw an 85% increase year-on-year, while film box office revenues are projected to decline by 23% in 2024 [1][2][9]. Group 1: Industry Performance - The performance industry, including music, theater, and dance, generated a total box office revenue of 220 billion RMB last year, with music alone accounting for 90% of this figure [1]. - The concert segment is the primary driver of growth within the music industry, contributing 90% of its revenue, while other forms like music festivals account for the remaining 10% [1]. - In contrast, the film industry is facing a downturn, with total box office revenues expected to drop by 23% in 2024 [1]. Group 2: Market Dynamics - Investors are losing patience with the film industry, as evidenced by the drastic decline in the market value of companies like iQIYI, which has seen a 90% drop from its peak, while Tencent Music Entertainment (TME) has increased its market value significantly [1][2]. - TME's market value has grown from 210 billion RMB to 330 billion RMB, indicating a 27-fold increase compared to iQIYI's current valuation [1]. Group 3: Company Comparisons - Alibaba Pictures, after rebranding to Damai Entertainment, has seen its stock price rise over 140% this year, while Maoyan Entertainment's stock has only increased by 1% [2]. - Damai's revenue has outperformed that of Alibaba Pictures' film projects, highlighting its dominance in the ticketing market [6][8]. Group 4: Financial Performance - TME's revenue from music subscriptions grew by 25.9% to 15.227 billion RMB, driven by a 16.6% increase in paid users and an increase in average revenue per user (ARPU) [20]. - In contrast, iQIYI's revenue has stagnated, with its net profit remaining precarious, indicating a stark difference in financial health between the two companies [19][20]. Group 5: Consumer Behavior - The willingness of consumers to pay high ticket prices for concerts, despite the rising costs, contrasts with the challenges faced by the film industry regarding ticket pricing [2][15]. - The music industry has successfully increased its membership numbers and ARPU, while the film industry struggles with a saturated membership model [2][21]. Group 6: Global Trends - The trend of music surpassing film in market value is not unique to China, as evidenced by global reports indicating that music rights have outstripped film rights in value [26]. - Major streaming platforms like Spotify continue to show robust growth, while traditional film platforms like Netflix are facing challenges in maintaining subscriber growth [30].

Core Insights - The concert market is experiencing significant growth, driving diverse consumer spending in cities [1] - The China Performance Industry Association reports that for every 1 yuan spent on concert tickets, there is a corresponding 4.8 yuan in surrounding consumer spending [1] - Specific events, such as Dao Lang's concert in Wuhan, led to a 400% increase in hotel bookings near the venue [1] - Jay Chou's concert in Sanya attracted 82% of attendees from outside the island, generating over 1.1 billion yuan in total consumption [1]