中信建投:遊戲出海高景氣持續 全球AI視頻加速
中信建投研報指出,1)遊戲:9月出海持續景氣。據伽馬數據,今年9月國內遊戲市場規模為303億元,同比增長15%,其中出海市場17億美金,同增34%,國內手遊市場220億元,同比增長11%,出海高景氣持續。2)電影:短期預計受三季報影響,但持續重點推薦,看好明年底部回暖。看供給端,國產、進口共同恢復。明年春節系列化大IP儲備豐富。看進口片,明年好萊塢電影預計將走出工會活動影響,既有系列化電影,又有熱門IP重啟。3)AI:全球AI視頻加速,國產多模態應用密集落地。今年以來,Meta、谷歌、Runway、Pika,字節跳動、快手、阿里、Minimax均發佈AI視頻模型,都具備生成5秒以上視頻的能力,色彩/動態/質量等水平普遍較高。4)IP:線下消費持續高景氣,中文在線舉辦IP發佈會。線下潮玩與卡牌消費高景氣,根據卡牌頭部公司卡遊招股書,預計國內卡牌行業2022年—2027年的複合增速超20%。5)出版:繼續關注C端消費佈局積極的公司。
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