CITIC Construction Investment: Multi-modeling model ability leaps AI comic industry ushers in a strategic opportunity period.

CITIC Securities Research Report stated that ByteSeedance 2.0 video model was released, and the multi-modal model's capabilities have significantly improved, potentially revolutionizing the film and television industry. The report continues to be optimistic about AI anime drama for the following reasons: 1) Anime drama is a rare track with low risk of being replaced by large models and high industry growth. Compared to film and games, large models now basically meet the creative needs of anime drama. Anime drama production companies are downstream applications of large model companies, with little risk of being replaced by large models. 2) There is a high demand for tokens, and model companies support industry development. According to different types of anime dramas, AI anime dramas consume tokens ranging from 500,000 to several million per minute, and the creation of a single episode of anime drama may require consumption of over a billion tokens. The various preferences and support given to the anime industry by large model companies provide a strategic opportunity for the industry. 3) The platform competition is fierce, and production companies have profit margins. Various anime platforms continue to upgrade their profit-sharing and traffic support policies, showing optimism about the increasing profit margins for AI anime production companies.