以下文章来源于酷玩实验室 ，作者酷玩实验室 酷玩实验室 . 关注中国科技发展与产业升级！ 来源丨 酷玩实验室（ID：coollabs） 图源丨Midjourney 互联网的信息茧房还是太权威了，当我在B站阅遍牢大复活视频，三连了一堆AI漫改好活逐渐感到索 然无味时，才发现在其他视频平台， 用AI做漫剧早就成了一个规模上百亿的变现市场。 工期可控、成本可控、平台流量+版权扶持等多重利好下， AI漫剧一度被称作是AI时代零门槛自学即 可上手的"个人最佳副业"， 而如今随着无数大中小团队涌入，这条新兴的AIGC影视赛道也在逐渐变 成一个残酷的产能血拼修罗场。 就跟短剧擅长用重生、穿越等题材设置反转和钩子套路吸引路人类似， AI漫剧则是将末世、诡异、无 限流等文字幻想打造成动画连续剧， 让自己也变成一门可以操纵观众情绪的流量生意。 借助越来越成熟且流水线化的AI生成视频能力， 无数原创国漫网文小说正在被爆改成一套套单集2分 钟、动辄80集的AI漫剧， 其中《斩仙台下，我震惊了诸神！》、《开局亿万冥币，我买爆了诡异末 世》等现象级大作更是以破10亿播放量宣告着一种全新的影视形态到来。 疯狂的AI漫剧 2025年被称作A ...

工期可控、成本可控、平台流量+版权扶持等多重利好下，AI漫剧一度被称作是AI时代零门槛自学即可上手的"个人最佳副业"，而如今随着无数大中小团 队涌入，这条新兴的AIGC影视赛道也在逐渐变成一个残酷的产能血拼修罗场。 01 疯狂的AI漫剧 互联网的信息茧房还是太权威了，当我在B站阅遍牢大复活视频，三连了一堆AI漫改好活逐渐感到索然无味时，才发现在其他视频平台，用AI做漫剧早就 成了一个规模上百亿的变现市场。 就跟短剧擅长用重生、穿越等题材设置反转和钩子套路吸引路人类似，AI漫剧则是将末世、诡异、无限流等文字幻想打造成动画连续剧，让自己也变成 一门可以操纵观众情绪的流量生意。 借助越来越成熟且流水线化的AI生成视频能力，无数原创国漫网文小说正在被爆改成一套套单集2分钟、动辄80集的AI漫剧，其中《斩仙台下，我震惊了 诸神！》、《开局亿万冥币，我买爆了诡异末世》等现象级大作更是以破10亿播放量宣告着一种全新的影视形态到来。 2025年被称作AI漫剧元年，行业普遍认为当前市场规模已经逼近200亿元，看似一夜崛起背后，AI漫剧的爆发其实早已有迹可循。 毕竟传统的动画制作需要有专门制作团队把关，角色设计、场景构思、分镜打 ...

Core Insights - Recently, the company announced the opening of 100,000 premium IPs and the establishment of a special fund of 100 million yuan to develop the comic-drama sector, despite facing revenue decline and challenges in its core online business [2] - The company's revenue for the first half of 2025 decreased by 23.9% year-on-year to 3.191 billion yuan, with net profit down 27.7% to 508 million yuan [2] - The core IP operation business suffered a 48.4% revenue drop to 1.138 billion yuan due to the lack of new film and television releases [2] - The online reading business has stagnated, with revenues of 4.364 billion yuan in 2022, 3.948 billion yuan in 2023, and 4.031 billion yuan in 2024, indicating a growth bottleneck [2] - The average monthly active users on the company's platform fell from 244 million in 2022 to 167 million in 2024, a loss of 77 million users [2] Industry Challenges - The long video platform industry is experiencing systemic crises, with Tencent Video's paid membership dropping by 3 million to 114 million [3] - The film market is also struggling, with a 13% year-on-year decline in box office revenue during the 2025 National Day holiday period [3] - The dual pressure on online and film businesses has hindered the company's path to film adaptation [3] Strategic Initiatives - The company is focusing on comic-dramas and trendy toys as key strategies for breakthrough, leveraging AI technology to create new content forms [3] - The company has achieved over 30 comic-dramas with viewership exceeding 10 million, but faces increasing competition from major players like ByteDance and Bilibili [3] - The trendy toy business is seen as a second growth curve, with a GMV of 480 million yuan in the first half of 2025, nearing last year's total [4] - The company is working on a "Global Trendy Toy Co-Creation Plan" to differentiate itself in the blue ocean market [4] Competitive Landscape - The company is in a catch-up phase in the trendy toy sector compared to established brands like Pop Mart, needing to accelerate resource integration and market promotion [4] - The company aims to leverage its vast IP through AI-enabled lightweight adaptations to activate content value and expand monetization boundaries [4] - Challenges include homogenized competition in the comic-drama sector, brand-building cycles in trendy toys, and the need to address user attrition in the core online business [5]