CITIC Securities: ByteDance Seedance 2.0 Video Model Released, Continues to Be Optimistic About AI Animation Dramas

CITIC Securities Research Report states that ByteDance’s Seedance 2.0 video model has been released, with multimodal model capabilities significantly improved, potentially revolutionizing the film and television industry. We remain optimistic about AI animated dramas: 1) Animated dramas are one of the few sectors with low risk of being replaced by large models and high industry growth. Compared to film, television, and gaming, large models now largely meet the creative needs of animated dramas. Production companies for animated dramas are downstream applications of large model companies and face low risk of being replaced by large models. 2) High token demand and industry support from model companies. Depending on the type of animated drama, AI animated dramas consume between 500,000 to several million tokens per minute, with a single project requiring over 100 million tokens. The various preferential policies and support from large model companies for the animated drama industry present strategic opportunities for the sector. 3) Intense platform competition and profit potential for production companies. As various animated drama platforms continue to upgrade revenue-sharing and traffic support policies, we are optimistic about increased profit margins for AI animated drama production companies. (People’s Financial News)