金吾财讯 | 开源证券研究表示，全球数字内容市场空间广阔，国产内容积极出海，其中游戏出海规模领先，短剧出海收入高增。复盘网文、游戏、短剧出海历程，机构认为内容出海整体趋势为内容精品化发展，分发逐步由委外代理转为自主控制，国内企业在做大出海市场的同时，亦在提升产业链价值占比。该机构以相关指数成分公司为主要样本，计算得传媒板块2019-2024年境外收入占比由5.7%提升至10.4%，游戏板块由26.6%提升至38.5%，影视制作板块由10.7%提升至24.6%。展望未来，机构认为博大精深的中华文化为出海内容企业提供丰富“原料”，随文化交流加深，国内企业或掌握更易于海外理解的内容呈现形式；叠加激励政策持续出台，以及AI技术发展扩大优质内容供给，看好内容出海市场规模加速扩大。
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