近日，阅文在创作者大会上宣布开放10万部精品IP、设立亿元专项基金布局漫剧赛道，其已有《大明贤婿》等多部作品播放量破亿，但这一转型背后，是其 营收下滑的现实压力、影视行业的结构性寒冬，以及核心在线业务的增长乏力。 在线业务与影视业务双重承压，让漫剧与潮玩成为阅文突围的关键抓手。作为AI技术催生的新型内容形态，漫剧凭借制作成本低、变现路径清晰等优势， 吸引字节、快手、百度等大厂集体入局。阅文依托自身IP储备优势，已实现30部漫剧播放量破千万，但面临的竞争日趋激烈。比如"字节系"通过红果漫剧 APP实现130万下载量，B站、爱奇艺等也纷纷推出高比例分成政策争抢创作者。阅文虽有"漫剧助手"等AIGC工具赋能，但在流量分发与扶持力度上仍需加 码。 潮玩业务则被视为阅文第二增长曲线的另一关键。其推出的"全球潮玩共创计划"，以"内容IP+潮玩IP"的差异化路径切入蓝海市场。2025年上半年，阅文衍 生品GMV达4.8亿元，接近去年全年水平，例如，阅文和艺画开天合作的《灵笼》白月魁太空服轻雕像，开售17小时就突破1万体，GMV超千万元。但相较 于泡泡玛特在潮玩领域的品牌沉淀与供应链优势，阅文仍处于追赶阶段，需加速整合超级元 ...

转自：北京日报客户端 "阅文漫剧大讲堂"11月27日于上海举行，本次大讲堂汇聚行业顶尖力量，共同探讨漫剧创作趋势、内容 生态构建及IP价值开发等核心议题，为漫剧行业注入新思考与新动能。 近年来，随着数字内容消费的升级及AI技术的发展，漫剧凭借其"轻、快、广"的特点成为Z世代的刚 需。三方数据显示，2025年漫剧市场呈爆发式增长态势：上半年漫剧供给量以83%的复合增长率扩容， 播放量、点赞量分别实现92%、105%的复合增长，市场规模预计年内再创新高。 克制AI炫技，坚持讲故事 深耕于二次元泛娱乐领域的奇想创始人李渊还认为，"漫剧就是IP价值的变现，同时它也可以快速验证 一个IP的商业价值，决定后续是否可以进一步进行动漫、游戏等更重量级的开发。" 漫剧是网文IP价值释放的重要场景 在阅文漫剧大讲堂对谈环节，嘉宾们围绕漫剧的定义、出海前景、未来发展趋势等问题各抒己见。大家 一致认为，漫剧绝非转瞬即逝的浪花，而是在技术、市场、用户需求多重因素催化下产生的内容新物 种，未来增长潜力巨大。 阅文集团内容运营总经理杨沾表示："漫剧是网文IP价值释放的重要场景，也是内容创新的前沿阵地。 我们希望通过这次分享与探讨，凝聚行业 ...

Core Insights - The rapid growth of the comic drama market is driven by the increasing demand from Generation Z and advancements in AI technology, with a projected compound annual growth rate of 83% in supply volume and 92% and 105% in viewership and likes respectively by 2025 [1] - The industry is expected to undergo three phases: capacity explosion, content refinement, and IP development, emphasizing the importance of storytelling over technology [1][2] - The collaboration between Yuewen Group and Soy Sauce Animation aims to produce over 400 comic dramas annually, with more than 50% adapted from Yuewen's IPs [1][3] Industry Trends - Comic dramas serve as a means to monetize IP value and quickly validate its commercial potential, paving the way for further development in animation and gaming [2] - The integration of AI technology is seen as a facilitator for the internationalization of quality cultural content, allowing web literature IPs to be rapidly adapted into comic dramas [2] - The demand for high-quality creators and stories remains critical, with AI technology helping to alleviate mundane tasks for creators, allowing them to focus on storytelling [2][3] Company Initiatives - Yuewen Group plans to open access to 100,000 premium IPs, establish a 100 million yuan special fund to support writers and quality teams, and launch a one-stop creation platform called "Comic Drama Assistant" to enhance adaptation efficiency [3][4] - The company aims to create a collaborative ecosystem that supports the entire comic drama production chain, from creation to distribution, fostering an open and efficient environment [3][4] Market Performance - The comic drama sector has experienced explosive growth this year, with AI reducing costs and enhancing efficiency, while IPs boost growth potential, positioning comic dramas as a testing ground for the film and television industry [4]

法国西山工作室创始人William认为："我们的工作就是在AI帮助下让每一个世界变得可信，目标不是简单地做出一张'好看的画面'，而是建立整体的叙事一 致性，高审美是给予加成，但最重要的是所有我们创造的要素，最终都能汇聚到故事的核心意义上。" 11月27日，"阅文漫剧大讲堂"于上海举行，本次大讲堂汇聚行业顶尖力量，特邀酱油动漫创始人酱油、奇想文化创始人李渊、九紫源AI创始人丁宽、异类创 始人陈翔宇、优时创始人袁泽、MOREVFX内容总经理袁冰涛、法国西山工作室创始人William等多位重磅嘉宾，共同探讨漫剧创作趋势、内容生态构建及 IP价值开发等核心议题，为漫剧行业注入新思考与新动能。 近年来，随着数字内容消费的升级及AI技术的发展，漫剧凭借其"轻、快、广"的特点成为Z世代的刚需。三方数据显示，2025年漫剧市场呈爆发式增长态 势：上半年漫剧供给量以83%的复合增长率扩容，播放量、点赞量分别实现92%、105%的复合增长，市场规模预计年内再创新高。 作为漫剧行业的头部从业者，酱油动漫创始人酱油认为："AI漫剧行业会经历三个阶段，即产能井喷阶段、内容精品化阶段和漫剧IP化阶段。在漫剧行业产 能迅速扩大后，行业更需 ...

Core Insights - The "Yuewen Comic Drama Forum" held in Shanghai gathered industry leaders to discuss trends in comic drama creation, content ecosystem construction, and IP value development, injecting new ideas and momentum into the industry [1][5] - The comic drama market is expected to experience explosive growth, with a projected 83% compound annual growth rate in supply volume and 92% and 105% growth in playback and likes, respectively, by 2025 [1][6] Industry Trends - The comic drama industry is transitioning through three stages: capacity explosion, content refinement, and IP development, emphasizing the need for high-quality content after rapid expansion [3] - AI technology is seen as a tool to enhance production efficiency and visual quality, but the essence of compelling storytelling relies on strong IP [3][4] - The industry recognizes the potential for comic dramas to serve as a means of monetizing IP and validating its commercial value, paving the way for further development in animation and gaming [3] Future Opportunities - The comic drama sector is viewed as a significant scene for releasing the value of web literature IP and as a frontier for content innovation [5] - Yuewen Group announced a comprehensive strategy to support comic drama creation through a partnership program, a special fund of 100 million yuan, and a one-stop creation platform [5][6] - The collaboration between Yuewen Group and Soy Sauce Animation has resulted in significant viewership for their projects, with plans to produce at least 400 comic dramas annually, over 50% of which will be adapted from Yuewen's IP [6]

Core Insights - The "manga drama" industry is experiencing explosive growth, with the market expected to exceed 20 billion yuan this year, marking 2023 as the "year of manga drama" [1][2] - The production costs for manga dramas have significantly decreased due to advancements in AI technology, allowing for quicker and cheaper content creation [5][6] Industry Growth - The number of manga dramas launched in 2023 has reached thousands, with platforms like Kuaishou reporting over 2 billion yuan in revenue from this segment [2][4] - The supply of manga dramas increased by 15% in August alone, reaching a historical high of 1,802 episodes, while the demand saw a 32% increase in viewership [4] AI's Role in Production - AI technology has drastically reduced production costs and time, with costs per minute dropping from 2,000-5,000 yuan to 1,000-2,500 yuan, and production cycles shortened to 10-13 days [6][8] - AI's involvement in the production process is significant, with companies reporting that 70-80% of the production tasks are now handled by AI [5][6] Content and IP Importance - The success of AI manga dramas relies on a combination of strong IP, technological barriers, and data-driven insights to meet user demands [9] - Major companies are actively investing in AI manga drama initiatives, with platforms like Douyin and companies like Huayi Brothers and Jiecheng Co. launching tools and platforms to support content creators [9]

Group 1 - The core viewpoint of the news is that Yu Wen Group (00772) is expanding its business into the comic drama sector, enhancing its "Creative Partner Program" and launching several initiatives to support this new venture [1] - As of October 16, Yu Wen Group's stock price increased by 4.34%, reaching HKD 42.34, with a trading volume of HKD 192 million [1] - The company announced four major initiatives for the comic drama ecosystem, including opening 100,000 premium IPs, establishing a billion yuan creative fund, launching the AIGC tool "Comic Drama Assistant" to improve adaptation efficiency, and building a full industry chain support system [1] Group 2 - The comic drama industry chain has formed a complete cycle of "IP reserve - adaptation production - commercial operation," with a clear commercialization model [2] - The profitability model of comic dramas is similar to that of short dramas, with a focus on ensuring that the flow profit exceeds content costs; currently, the overall investment return on investment (ROI) can reach 1.8 times [2] - Yu Wen Group is recognized as a rare leading company in the full IP industry chain, maintaining stable online reading business while continuously incubating new IPs; the company is expected to benefit from the strong performance of new businesses such as short dramas and IP derivatives, as well as future investments in AI comic dramas [2]

Core Viewpoint - The emerging sector of AI Manhua (AI漫剧) has garnered significant attention in the capital market, with a consensus among institutions that it has strong growth potential [1][2]. Group 1: Market Growth and Trends - From October 24 to October 28, at least 10 brokerage firms released reports expressing optimism about the development prospects of AI Manhua [2][4]. - The AI-driven Manhua market is expected to accelerate, with the total revenue for the Manhua market projected to reach one-third of that of short dramas this year [6]. - The Manhua market has seen explosive growth in 2023, with supply, viewership, and likes increasing at monthly compound growth rates of 83%, 92%, and 105% respectively [4]. Group 2: Industry Dynamics - Major industry players are rapidly entering the AI Manhua space, with companies like Yuewen Group announcing plans to open up 100,000 premium IPs and establish a billion yuan creation fund [4]. - The industry has formed a complete chain from IP reserve, adaptation, production, to commercialization, with a clear business model that allows for high return on investment (ROI) [6][10]. - AI technology is a key variable driving the market, significantly reducing production costs and time, with costs per minute dropping from 2000-5000 yuan to 1000-2500 yuan [8]. Group 3: Target Audience and Demand - The primary user demographic for AI Manhua is young males, which complements existing content aimed at older demographics and young females [8]. - The market is seen as a blue ocean opportunity, precisely targeting the emotional needs of young male users through a unique blend of visual storytelling and gaming narratives [8]. Group 4: Investment Opportunities - Brokerage firms are optimistic about investment opportunities in the AI Manhua sector, particularly in content companies and technology platforms [11]. - Key areas for investment include leading Manhua platforms with traffic advantages, companies with strong IP reserves in web literature and animation, and firms with technological advantages in AIGC video tools [11].

Core Viewpoint - The article highlights the significant growth potential of the AI comic drama sector, with a projected market size exceeding 20 billion in 2025, driven by technological advancements and global expansion [1] Company Summary -阅文集团's stock has increased by over 5%, currently trading at 41.26 HKD with a transaction volume of 307 million HKD [1] - The company is actively expanding into the AI comic drama space, launching four major initiatives to enhance its ecosystem, including the release of 100,000 premium IPs and the establishment of a 100 million RMB creative fund [1] -阅文集团's CEO announced the upgrade of the "Creative Partner Program" at the 2025 Creative Conference, indicating a strategic shift towards the comic drama sector [1] - The company has already achieved significant viewership, with 30 of its comic drama productions surpassing 10 million views, and several titles exceeding 100 million views [1] Industry Summary - The AI comic drama sector is experiencing a compound monthly growth rate of 83%, with over 3,000 productions expected in the first half of 2025, resulting in a revenue scale increase of 12 times [1] - The overall market for AI comic dramas is anticipated to exceed 20 billion in 2025, indicating a robust growth trajectory [1] - 中航证券 emphasizes that the AI comic drama industry is entering a golden development period, driven by technological breakthroughs, surging demand, and accelerated international expansion [1]

Core Viewpoint - The news highlights the significant developments at Yuewen Group, including the launch of the upgraded "Creative Partner Program" and strategic initiatives aimed at expanding its presence in the comic-drama sector, which have positively impacted its stock performance [1] Group 1: Company Developments - Yuewen Group's stock rose nearly 5% in early trading, reaching HKD 38.84 with a trading volume of HKD 84.81 million [1] - The CEO of Yuewen Group, Hou Xiaonan, announced four major initiatives at the 2025 Yuewen Creative Conference, including the opening of 100,000 premium IPs and the establishment of a billion yuan creative fund [1] - The introduction of the AIGC tool "Comic-Drama Assistant" aims to enhance adaptation efficiency and support the entire industry chain [1] Group 2: Market Analysis - Tianfeng Securities reported that Yuewen has a stable ability to create commercial hits and a feasible business model for IP industry chain linkage, which is expected to build barriers and steadily improve profitability over the long term [1] - According to招商证券, the company possesses a vast number of quality online literature IPs and is actively promoting IP commercialization, focusing on niche markets such as card games and light novels to maximize commercial value through collaboration with films, animations, and games [1]