Basic conclusion
Game operation tracking in January:
Industry flow end: in January 2022, China’s mobile game revenue increased by 18% year-on-year and 20% month on month. According to the mobile game report of January 2022 of Gamma data, in January 2022, the actual sales revenue of China’s mobile game market was 22.24 billion yuan, a month on month increase of 20.25% and a year-on-year increase of 17.76%, mainly due to the launch of spring festival activities of many games in January and the launch of some new games at the end of December. In China, in January, the revenue ranking of China’s IOS mobile games, Tencent’s “glory of the king” and “peace elite” and MIHA’s “original God” ranked first, second and third respectively. Netease “dream journey to the west” ranked fourth. At the overseas end, in January, 34 Chinese manufacturers were shortlisted as the top 100 mobile game publishers in the global revenue list, with a total revenue of nearly US $2.26 billion, accounting for 39% of the global top 100 mobile game publishers (Android channel revenue in China is not included). Among them, Tencent, Netease, mihayou, qujia, Lilith and Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) are stable in the top 6.
Streaming media business tracking in January:
Policy side: the number of TV dramas recorded remained stable. 44 TV dramas were recorded in January 2022, a slight decrease from December 21. The proportion of themes remains stable, and urban themes are still the mainstream themes. Divided by theme, there are 38 contemporary themes, 1 modern theme and 5 modern themes, accounting for 87%, 2% and 11% respectively.
Film and television track: on the popular film and television drama broadcasting platform, Tencent and Youku maintain a leading position, and iqiyi’s share has declined. According to de taven data, in January 2022, among the top 10 works in the TV drama boom index, Tencent video, Youku, iqiyi and mango TV accounted for 40%, 40%, 10% and 10%.
Variety track: the proportion of mango TV independent broadcasting is excellent, and the proportion of BiliBili decreases. According to Guduo data, among the top 10 variety shows in the whole network in January 2022, mango TV variety occupies the top position. Detective Season 7 ranks the top 5 in the whole network popularity list. Hello Saturday Co.Ltd(002291) , friends, please listen to season 2, our hot life and time concert rank sixth to ninth respectively. The proportion of BiliBili variety decreased from 10% in December to 0.
Investment advice
We believe that the game and content sectors have long-term investment value and are currently a good investment time point. Accelerating the development of the meta universe industry or promoting the valuation of the game sector; If the game version number is reissued, it is expected to increase the game supply; Games going to sea has become a general trend. High quality streaming media companies and undervalued game sectors are expected to receive more attention. It is suggested to pay attention to the following subjects: Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , Mango Excellent Media Co.Ltd(300413) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Wuxi Boton Technology Co.Ltd(300031) .
Risk tips
The online performance and investment promotion of film and television variety programs are less than expected; The online performance of the game is less than expected; Offline recovery is less than expected: industry policy risk
