中金公司近期发布研报指出，传媒行业有望在2026年迎来新一轮发展周期。该判断主要基于多重积极因素的叠加：首先，人工智能、AIGC（生成式人工智能）等前沿技术正加速渗透内容创作、分发与变现环节，显著提升行业效率并催生新商业模式；其次，政策环境趋于稳定，监管对平台经济和数字内容产业的支持态度逐步明确，为行业长期健康发展提供保障；此外，用户付费意愿增强、广告市场回暖以及出海战略持续推进，也为传媒企业带来新的增长动能。中金认为，随着技术迭代与内容生态的深度融合，具备优质IP储备、技术整合能力及全球化布局的龙头企业将率先受益。投资者可重点关注游戏、短视频、影视制作及数字营销等细分赛道，把握2026年前后的结构性机会。
China International Capital Corporation (CICC) recently released a research report indicating that the media and entertainment sector is poised to enter a new growth cycle by 2026. This outlook is supported by several converging positive factors: first, cutting-edge technologies such as artificial intelligence (AI) and generative AI (AIGC) are rapidly integrating into content creation, distribution, and monetization, significantly boosting operational efficiency and enabling innovative business models. Second, the regulatory environment is stabilizing, with clearer government support for platform economies and digital content industries, laying a solid foundation for sustainable growth. Additionally, rising consumer willingness to pay for premium content, a recovering advertising market, and the continued expansion of overseas strategies are creating fresh growth drivers for media companies. CICC believes that industry leaders with strong intellectual property (IP) portfolios, robust technological integration capabilities, and global footprints will benefit first from this upswing. Investors are advised to closely monitor sub-sectors such as gaming, short-form video, film and TV production, and digital marketing to capture structural opportunities emerging around 2026.
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