Research on consumption industry: Cultural digitization to stimulate new consumption potential

Events

On May 22, the general office of the CPC Central Committee and the general office of the State Council issued the opinions on promoting the implementation of the national cultural digitization strategy (hereinafter referred to as the opinions).

The opinions clearly states that by the end of the 14th Five Year Plan period, cultural digital infrastructure and service platform will be basically completed, and a Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integrated, interactive and three-dimensional cultural service supply system will be formed. By 2035, a national cultural big data system with physical distribution, logical correlation, fast link, efficient search, comprehensive sharing and key integration will be built, the panorama of Chinese culture will be presented, and the digital achievements of Chinese culture will be shared by the whole people.

The opinions put forward eight key tasks: 1. Make overall use of the achievements of digital projects and databases built or under construction in the field of culture to form a database of Chinese culture. 2. Consolidate the cultural digital infrastructure and form a national cultural network by relying on the existing cable TV network facilities, radio and television 5g network and interconnection platform. 3. Encourage multiple subjects to rely on the national cultural network to jointly build a cultural data service platform. 4. Encourage and support all kinds of cultural institutions to access the national cultural network and explore effective ways of digital transformation and upgrading by using the cultural data service platform. 5. We will develop new scenarios for digital cultural consumption and vigorously develop new digital cultural experiences that integrate Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integration and online presence. 6. Comprehensively promote the construction of national cultural big data system, National Smart Library System and public cultural cloud, enhance the supply capacity of digital content of public culture and improve the digital level of public cultural services. 7. Accelerate the construction of new industries, such as digital data collection and distribution, and present a number of cultural data collection and distribution industries in the field of culture. 8. We will improve the cultural elements of law enforcement, build a digital market system, and improve the cultural elements of law enforcement.

The opinions requires that in the links of data collection and processing, transaction distribution, transmission and storage and data governance, we should formulate cultural data security standards, strengthen the data warehousing standards of Chinese cultural database, build a perfect cultural data security supervision system, and improve the property rights protection measures of cultural resource data and cultural digital content. We will support the construction of national digital research centers and cultural innovation centers, and speed up the construction of digital research centers and cultural innovation centers. We will support the development of national research centers for scientific and technological innovation and cultural innovation, and support the construction of cultural innovation centers, Promote the construction of digital education platform and the integration of related disciplines.

Commentary

On March 13, 2021, “implementing the digital strategy of cultural industry” was officially written into the outline of the 14th five year plan. New technologies and new means have driven the transformation and upgrading of traditional business forms. The cultural field continues to stimulate creative inspiration. Publishing, culture and tourism, live broadcasting and short video are booming in the form of digital technology and the Internet, and new forms such as cloud exhibition viewing have gradually become the norm. The issuance of the opinions has provided effective assistance for further promoting the implementation of the national cultural digitization strategy.

With the introduction of the new infrastructure policy, relevant artificial intelligence, 5g and data center construction have become the technical basis for driving the development of cultural industry. The implementation of the digital strategy of cultural industry and the high-quality development of digital cultural industry are expected to create new Wuxi Online Offline Communication Information Technology Co.Ltd(300959) consumption scenes, promote new opportunities for traditional industries, stimulate cultural consumption potential, enhance national self-confidence and enhance national cultural soft power.

Investment advice

It is suggested to pay attention to Fubo group, the global leader in online video copyright protection, the digital creative software provider Wondershare Technology Group Co.Ltd(300624) , the Hylink Digital Solution Co.Ltd(603825) group with rich digital collections created in cooperation with many museums, the reading group connected with the IP ecological chain, the leading enterprise in the application field of digital technology in China Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , as well as cable operators, Internet platform companies involved in many fields, Wuxi Online Offline Communication Information Technology Co.Ltd(300959) cultural performance event planners, etc.

Risk tips

The promotion speed of digital implementation of cultural industry is lower than expected; The development speed of software and hardware does not match the risk that Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integration does not meet expectations, etc.

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