Every reporter: Bi Yuanyuan Every editor: Chen Junjie
Recently, the A-share market has ushered in a boom driven by the "millet economy".
The so-called "millet" in the two-dimensional culture refers to products derived from content IP (intellectual property rights), such as peripheral products such as animation and games. As the "dimensional wall" of the younger generation becomes thinner and thinner, two-dimensional culture gradually breaks out of the circle and becomes a cultural phenomenon that spans age groups and genders.
In the A-share market, the stock prices of many companies involved in the "millet economy" have frequently reached daily limit levels since July 1 this year, such as Holley Technology , Guangbo Shares , etc. Many listed companies have also issued relevant announcements to disclose their businesses in the "millet industry chain".
"Daily Economic News" reporters found through wind data that the popularity of the "millet economy" did not come suddenly. The "millet economy" index climbed significantly from the second half of the year, with a cumulative increase of 35.01% as of December 4.
On December 2, Mao Yuncong, chief analyst of Haitong Securities Media Internet, analyzed in the online program that the "millet economy" has quietly shown strong growth, similar to the short drama market in 2023, which has achieved long-term high speed before attracting the attention of capital. increase.
How long can the craze of "millet economy" last? Jiang Han, a senior researcher at Pangu Think Tank, told the reporter of "Daily Economic News" that the key lies in two points: "First, whether the demand of young consumer groups continues to be strong; second, how is the progress of market expansion and industry integration. Judging from the current situation, As the scale of pan-ACG users continues to expand and young people’s demand for spiritual consumption continues to increase, this market still has great potential for development. At present, the concentration of the ACG peripheral market is low, and in the future. With the further expansion and integration of the market, it is expected to form a more large-scale and competitive enterprise. "
The key to the rapid popularity of "Guzi" lies in its social interaction function.
Since the second half of the year, the emerging consumption phenomenon of second-dimensional IP peripheral products has emerged. ——The "millet economy" continues to heat up. Recently, many listed companies have taken advantage of this craze and their stock prices have soared. Data from
wind shows that the "Millet Economy" index has risen steadily since July 1, with a cumulative increase of 35.01% as of December 4.
"Millet Economy" is rooted in the two-dimensional culture, specifically referring to the rich peripheral product market derived from copyrighted works such as comics, animation, games, idols, tokusatsu, etc. Its scope is wide, covering badges, cartoon cards, laser tickets, Liusha Mahjong, keychains, standing cards and other creative products. In recent years, "Valley Circle Culture" has suddenly emerged, with "Generation Z" as the main force, and has become an emerging consumer force that cannot be ignored.
Mao Yuncong said that the payment habits of the younger generation are different from those of previous generations. They are very happy to pay directly for their preferences, especially spiritual and cultural consumption. "This phenomenon appears in the animation, games and derivatives markets. Young people have a strong willingness to consume, forming a positive trend."
Photo courtesy of Bubble Mart
Mao Yuncong further analyzed that young people are not only willing to consume As well as performing well, their need for social interaction is equally strong. One of the key factors why "Millet" has become so popular is that it has the function of social interaction. This way of socializing through favorite IP images is actually a modern replica of similar products in previous generations of groups, but the response of this generation of young people is more direct and enthusiastic.
Within the statistical scope of wind's "millet economy" index, Aofei Entertainment , Visual China, Huanrui Century , Guangming Media , Hengdian Film and Television , Baina Qiancheng , Tianyu Digits, Wanda Film, Huayi Brothers, Songcheng Performing Arts, Huace Film and Television, Beijing Culture, Chenguang Shares, Chinese Online and other toys, film and television, cultural tourism companies that have their own IP Listed companies are all regarded as "millet economy" concept stocks.
Mao Yuncong believes that in the A-share market, the "millet economy" more broadly refers to the entire IP derivatives market, and the core assets of the A-share cultural media industry are various IP resources.
Millet economy is similar to the popularity of short dramas
As the "millet economy" concept stocks continue to heat up, brokerage firms have released special research reports, and many investors are also paying close attention to the business layout of related listed companies. Recently, many listed companies such as Mango Super Media, Perfect World, Shengtian Network, Chinese Online, and Sanqi Interactive Entertainment have been frequently asked by investors on interactive platforms whether they are involved in “millet economy”-related businesses.
On November 27, Chinese Online stated in an institutional survey that in October 2024, the company will launch the "Dimension Quest" brand to focus on the development of IP derivatives. At present, the Guogu, Rigu, and Meigu category matrices have been formed, including but not limited to trendy toys, educational toys, plush dolls, etc.
Daily Economic News Data Map
On November 26, Aofei Entertainment issued a change announcement, saying that "millet economy" and "ai applications" and other related matters have attracted market attention. However, the relevant business is still in the early development stage and there are certain uncertainties. Investors are advised to pay attention to the risks of secondary market transactions, make rational decisions, and invest prudently.
In this regard, Jiang Han told the reporter of "Daily Economic News" that high-quality IP plays a vital role in the "millet economy". It is the core element that attracts consumers' attention and stimulates their desire to buy. High-quality IP usually has a high degree of recognition, profound cultural connotation and a broad fan base, which can significantly enhance the added value and market competitiveness of the product.
The “millet economy” has always existed. Why has it suddenly received new attention in the concept stock market recently? Mao Yuncong said that this phenomenon is similar to last year’s short interactive drama market. In fact, the "millet economy" is not an emerging track. It has already shown good growth momentum, but it may be cultivated silently out of everyone's sight. Just like last year's skit market, it has achieved rapid growth for a long time before receiving widespread attention in the capital market.
Mao Yuncong further explained that it may be that at a specific point in time, such as the fourth quarter, related thematic and logical opportunities are more likely to attract market attention. When the market began to look back and explore these directions, it was discovered that the "millet economy" is not only an emerging consumer field, but also has a large market size, and representative companies may land in the Hong Kong stock market in the future. The IPO reports of these companies will disclose their business background and growth drivers in detail, further stimulating the market's attention to this area.
In his opinion, the core part of the "millet economy" is IP derivatives. IP and derivatives themselves are a closely watched link in the cultural media industry chain. Now, a new vocabulary closely links all the upstream and downstream links of this industry chain.
The next step for millet economy, is AI?
Although many listed companies have officially announced their close ties with the "millet" industry, it remains to be seen whether companies can truly enjoy the dividends in this field. Jiang Han pointed out that companies face multiple challenges when getting involved in IP creation.
First of all, innovation is becoming increasingly difficult. As the number of IPs on the market continues to increase, consumers are increasingly demanding freshness and uniqueness of IPs. Enterprises need to constantly innovate to stand out in the fierce market competition. Secondly, copyright protection and market acceptance are also difficult problems that companies must face head-on. Inadequate copyright protection may lead to malicious theft or abuse of IP, seriously damaging the legitimate rights and interests of enterprises. Market acceptance directly depends on consumers' recognition and purchase intention of IP, which requires companies to conduct in-depth market research and precise positioning.
For listed companies, Jiang Han believes that the core competitiveness of future competition will be mainly reflected in the following aspects: First, the acquisition and operation capabilities of IP resources, whether they can successfully obtain the authorization of popular second-dimensional IPs and effectively operate these In order to launch attractive peripheral products, IP will become the key to corporate competition; secondly, product innovation and design In the "millet economy", product innovation and design are the core elements to attract consumers, and companies need to continue to innovate on products to meet the increasingly diverse needs of consumers; in addition, channel expansion and marketing capabilities Equally important, whether a company can effectively expand online and offline channels to increase product exposure and sales, and whether it can attract and retain consumers through effective marketing strategies are also important indicators for measuring a company's core competitiveness.
Shenwan Hongyuan Securities believes that “millet” and trendy toys are spiritual consumer goods that bring value to consumers such as self-pleasure, collection, social interaction, and transaction. The "millet" industry will begin to rise in 2022 and explode in 2023. According to Chishi Consulting’s forecast, by 2026, the market size of the two-dimensional peripheral derivative industry will reach 160 billion yuan, of which product licensing will account for 130 billion yuan.
However, although the "millet economy" market is currently booming, it is also necessary to be alert to potential risks, such as intensified market competition and changes in consumer tastes. "Listed companies need to continue to pay attention to market dynamics and strengthen risk management to maintain their competitive advantages." Looking to the future, Jiang Han believes that the development of the "millet economy" will show a trend of diversification and individualization. As consumer demands continue to change and upgrade, the "millet economy" will no longer be limited to traditional product forms and sales channels, but will expand to more fields and market segments.
Empowered by AI technology, the “millet economy” will usher in more innovations and changes. Mao Yuncong emphasized that many fields in AI applications are closely related to IP and derivatives. Jiang Han believed that AI technology can help companies more accurately analyze consumer needs and market trends, optimize product design and production processes, and improve product quality and efficiency. . In addition, AI technology will also promote the development of the "millet economy" in an intelligent and digital direction, bringing consumers a more convenient and personalized shopping experience.
"In the future, I think this will be a very clear new consumption track in the media industry." Mao Yuncong said.
Every reporter: Bi Yuanyuan Every editor: Chen Junjie
Recently, the A-share market has ushered in a boom driven by the "millet economy".
The so-called "millet" in the two-dimensional culture refers to products derived from content IP (intellectual property rights), such as peripheral products such as animation and games. As the "dimensional wall" of the younger generation becomes thinner and thinner, two-dimensional culture gradually breaks out of the circle and becomes a cultural phenomenon that spans age groups and genders.
In the A-share market, the stock prices of many companies involved in the "millet economy" have frequently reached daily limit levels since July 1 this year, such as Holley Technology , Guangbo Shares , etc. Many listed companies have also issued relevant announcements to disclose their businesses in the "millet industry chain".
"Daily Economic News" reporters found through wind data that the popularity of the "millet economy" did not come suddenly. The "millet economy" index climbed significantly from the second half of the year, with a cumulative increase of 35.01% as of December 4.
On December 2, Mao Yuncong, chief analyst of Haitong Securities Media Internet, analyzed in the online program that the "millet economy" has quietly shown strong growth, similar to the short drama market in 2023, which has achieved long-term high speed before attracting the attention of capital. increase.
How long can the craze of "millet economy" last? Jiang Han, a senior researcher at Pangu Think Tank, told the reporter of "Daily Economic News" that the key lies in two points: "First, whether the demand of young consumer groups continues to be strong; second, how is the progress of market expansion and industry integration. Judging from the current situation, As the scale of pan-ACG users continues to expand and young people’s demand for spiritual consumption continues to increase, this market still has great potential for development. At present, the concentration of the ACG peripheral market is low, and in the future. With the further expansion and integration of the market, it is expected to form a more large-scale and competitive enterprise. "
The key to the rapid popularity of "Guzi" lies in its social interaction function.
Since the second half of the year, the emerging consumption phenomenon of second-dimensional IP peripheral products has emerged. ——The "millet economy" continues to heat up. Recently, many listed companies have taken advantage of this craze and their stock prices have soared. Data from
wind shows that the "Millet Economy" index has risen steadily since July 1, with a cumulative increase of 35.01% as of December 4.
"Millet Economy" is rooted in the two-dimensional culture, specifically referring to the rich peripheral product market derived from copyrighted works such as comics, animation, games, idols, tokusatsu, etc. Its scope is wide, covering badges, cartoon cards, laser tickets, Liusha Mahjong, keychains, standing cards and other creative products. In recent years, "Valley Circle Culture" has suddenly emerged, with "Generation Z" as the main force, and has become an emerging consumer force that cannot be ignored.
Mao Yuncong said that the payment habits of the younger generation are different from those of previous generations. They are very happy to pay directly for their preferences, especially spiritual and cultural consumption. "This phenomenon appears in the animation, games and derivatives markets. Young people have a strong willingness to consume, forming a positive trend."
Photo courtesy of Bubble Mart
Mao Yuncong further analyzed that young people are not only willing to consume As well as performing well, their need for social interaction is equally strong. One of the key factors why "Millet" has become so popular is that it has the function of social interaction. This way of socializing through favorite IP images is actually a modern replica of similar products in previous generations of groups, but the response of this generation of young people is more direct and enthusiastic.
Within the statistical scope of wind's "millet economy" index, Aofei Entertainment , Visual China, Huanrui Century , Guangming Media , Hengdian Film and Television , Baina Qiancheng , Tianyu Digits, Wanda Film, Huayi Brothers, Songcheng Performing Arts, Huace Film and Television, Beijing Culture, Chenguang Shares, Chinese Online and other toys, film and television, cultural tourism companies that have their own IP Listed companies are all regarded as "millet economy" concept stocks.
Mao Yuncong believes that in the A-share market, the "millet economy" more broadly refers to the entire IP derivatives market, and the core assets of the A-share cultural media industry are various IP resources.
Millet economy is similar to the popularity of short dramas
As the "millet economy" concept stocks continue to heat up, brokerage firms have released special research reports, and many investors are also paying close attention to the business layout of related listed companies. Recently, many listed companies such as Mango Super Media, Perfect World, Shengtian Network, Chinese Online, and Sanqi Interactive Entertainment have been frequently asked by investors on interactive platforms whether they are involved in “millet economy”-related businesses.
On November 27, Chinese Online stated in an institutional survey that in October 2024, the company will launch the "Dimension Quest" brand to focus on the development of IP derivatives. At present, the Guogu, Rigu, and Meigu category matrices have been formed, including but not limited to trendy toys, educational toys, plush dolls, etc.
Daily Economic News Data Map
On November 26, Aofei Entertainment issued a change announcement, saying that "millet economy" and "ai applications" and other related matters have attracted market attention. However, the relevant business is still in the early development stage and there are certain uncertainties. Investors are advised to pay attention to the risks of secondary market transactions, make rational decisions, and invest prudently.
In this regard, Jiang Han told the reporter of "Daily Economic News" that high-quality IP plays a vital role in the "millet economy". It is the core element that attracts consumers' attention and stimulates their desire to buy. High-quality IP usually has a high degree of recognition, profound cultural connotation and a broad fan base, which can significantly enhance the added value and market competitiveness of the product.
The “millet economy” has always existed. Why has it suddenly received new attention in the concept stock market recently? Mao Yuncong said that this phenomenon is similar to last year’s short interactive drama market. In fact, the "millet economy" is not an emerging track. It has already shown good growth momentum, but it may be cultivated silently out of everyone's sight. Just like last year's skit market, it has achieved rapid growth for a long time before receiving widespread attention in the capital market.
Mao Yuncong further explained that it may be that at a specific point in time, such as the fourth quarter, related thematic and logical opportunities are more likely to attract market attention. When the market began to look back and explore these directions, it was discovered that the "millet economy" is not only an emerging consumer field, but also has a large market size, and representative companies may land in the Hong Kong stock market in the future. The IPO reports of these companies will disclose their business background and growth drivers in detail, further stimulating the market's attention to this area.
In his opinion, the core part of the "millet economy" is IP derivatives. IP and derivatives themselves are a closely watched link in the cultural media industry chain. Now, a new vocabulary closely links all the upstream and downstream links of this industry chain.
The next step for millet economy, is AI?
Although many listed companies have officially announced their close ties with the "millet" industry, it remains to be seen whether companies can truly enjoy the dividends in this field. Jiang Han pointed out that companies face multiple challenges when getting involved in IP creation.
First of all, innovation is becoming increasingly difficult. As the number of IPs on the market continues to increase, consumers are increasingly demanding freshness and uniqueness of IPs. Enterprises need to constantly innovate to stand out in the fierce market competition. Secondly, copyright protection and market acceptance are also difficult problems that companies must face head-on. Inadequate copyright protection may lead to malicious theft or abuse of IP, seriously damaging the legitimate rights and interests of enterprises. Market acceptance directly depends on consumers' recognition and purchase intention of IP, which requires companies to conduct in-depth market research and precise positioning.
For listed companies, Jiang Han believes that the core competitiveness of future competition will be mainly reflected in the following aspects: First, the acquisition and operation capabilities of IP resources, whether they can successfully obtain the authorization of popular second-dimensional IPs and effectively operate these In order to launch attractive peripheral products, IP will become the key to corporate competition; secondly, product innovation and design In the "millet economy", product innovation and design are the core elements to attract consumers, and companies need to continue to innovate on products to meet the increasingly diverse needs of consumers; in addition, channel expansion and marketing capabilities Equally important, whether a company can effectively expand online and offline channels to increase product exposure and sales, and whether it can attract and retain consumers through effective marketing strategies are also important indicators for measuring a company's core competitiveness.
Shenwan Hongyuan Securities believes that “millet” and trendy toys are spiritual consumer goods that bring value to consumers such as self-pleasure, collection, social interaction, and transaction. The "millet" industry will begin to rise in 2022 and explode in 2023. According to Chishi Consulting’s forecast, by 2026, the market size of the two-dimensional peripheral derivative industry will reach 160 billion yuan, of which product licensing will account for 130 billion yuan.
However, although the "millet economy" market is currently booming, it is also necessary to be alert to potential risks, such as intensified market competition and changes in consumer tastes. "Listed companies need to continue to pay attention to market dynamics and strengthen risk management to maintain their competitive advantages." Looking to the future, Jiang Han believes that the development of the "millet economy" will show a trend of diversification and individualization. As consumer demands continue to change and upgrade, the "millet economy" will no longer be limited to traditional product forms and sales channels, but will expand to more fields and market segments.
Empowered by AI technology, the “millet economy” will usher in more innovations and changes. Mao Yuncong emphasized that many fields in AI applications are closely related to IP and derivatives. Jiang Han believed that AI technology can help companies more accurately analyze consumer needs and market trends, optimize product design and production processes, and improve product quality and efficiency. . In addition, AI technology will also promote the development of the "millet economy" in an intelligent and digital direction, bringing consumers a more convenient and personalized shopping experience.
"In the future, I think this will be a very clear new consumption track in the media industry." Mao Yuncong said.
Daily Economic News
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