MANGO(300413) 财富在线·2025-04-27 01:38Core Insights - Mango TV has demonstrated strong performance in the competitive long video industry, achieving significant growth in both its variety and drama segments despite overall market pressures [1][3]. Group 1: Variety Business Performance - In 2024, Mango TV had 21 variety shows ranked S and S+ in annual ratings, accounting for over 80% of the total [2]. - The company maintained a 38% market share in effective plays of variety shows in Q1 2025, leading the industry [2]. - The show "乘风2025" achieved over 120 million views overseas and topped the YouTube Asia entertainment chart, showcasing Mango TV's innovative approach to content [2]. - Mango TV has over 100 new variety shows in the pipeline for 2025, with 40% being new IPs, indicating a strong content development strategy [2]. Group 2: Drama Business Performance - Mango TV's drama segment saw a remarkable increase of 117.7% in effective play volume in Q1 2025, contrasting with a 16% decline across other platforms [3]. - The drama "国色芳华" ranked second in effective plays with 1.44 billion views, contributing to a dual-driven strategy of historical and contemporary themes [3]. - The company has several high-profile dramas in development, enhancing its ability to convert viewers into paying members [3]. Group 3: Short Drama Ecosystem - Mango TV is pioneering a "long, medium, and short" content ecosystem, launching 340 micro-dramas in 2024 [4]. - The collaboration with Hongguo Short Drama aims to create a dual-platform revenue-sharing model, enhancing monetization opportunities for creators [4]. - The "果果剧场" initiative allows for content sharing between Mango TV and Hongguo, promoting a sustainable commercial model in the short drama sector [4]. Group 4: Future Projects - Mango TV has several upcoming micro-drama projects in collaboration with renowned authors, aiming to enrich its content portfolio [5].