Media stocks surge! The first AI-powered long-form drama premieres on satellite TV; Mango TV bets on whether AIGC content can successfully pave the way for industrialization.

Media stocks surge! The first AI-powered long-form drama premieres on satellite TV; Mango TV bets on whether AIGC content can successfully pave the way for industrialization.

The first domestically produced full-length AI-generated drama, "The Journey to the West After," premiered on Hunan TV's prime time slot and Mango TV on August 31. The news immediately ignited the media sector—Mango Excellent Media hit its daily limit, while other AI-related film and television stocks, such as ChineseAll, Shanghai Film, and Jebsen, also strengthened.

This drama was produced by Mango TV's AIGC Innovation Content Center, with technical support from Seedance 2.0/2.5, and features no live actors throughout the entire production. More notably, it adopts a "produced, reviewed, and broadcast simultaneously" model, making it the first domestic drama to implement this mechanism after the "21 Articles on Radio and Television" were introduced.

AI-themed long-running drama premieres on prime-time television, its paradigmatic significance outweighs its content itself.

"Journey to the West II" is adapted from the fantasy novel of the same name from the late Ming and early Qing dynasties. The first season consists of 30 episodes, each 40 minutes long, telling the story of the "second generation of Journey to the West" reuniting to obtain Buddhist scriptures. The first five episodes, "Flower and Fruit Mountain," premiered on Mango TV at 6 PM on August 31st and aired on Hunan TV's prime time slot at 8 PM that same evening.

The Guojin Securities Media and Internet Team (Zhu Jun Team) pointed out that "In the past, AI content was mainly concentrated in small-screen scenarios such as short videos and comics. The broadcast of this full AI-powered long drama on satellite TV is of landmark significance."

Its core logic lies in the simultaneous breakthroughs on three levels:

  • At the policy level : The implementation of the "21 Measures for Radio and Television" on the basis of simultaneous review and broadcasting has created institutional space for the production of AI-generated long-form content;
  • Technical aspects : Iterative improvements to the multimodal model enhance video generation, character consistency, and narrative pipeline capabilities, continuously reducing the production cycle and cost of long content.
  • At the platform level : From experimental content to large-scale broadcasting, the logic of industrialized production of AI content has been validated.

The AI-powered short drama and animation market is expanding rapidly, with commercialization data already providing support.

"The Sequel to Journey to the West" is a microcosm of the overall acceleration in the AI film and television industry.

According to data from Guojin Securities, in the first half of 2026, the domestic AI short drama and animation industry saw a year-on-year growth rate of 138% in the first five months. At the listed company level, commercialization has already been quite significant.

  • Kunlun Wanwei's AI short drama platform generated 1.534 billion yuan in revenue in the first half of the year, a year-on-year increase of 163.28% , with monthly revenue exceeding 65 million US dollars in June alone. More than 90% of the dramas on the platform are generated by AI.
  • Chinese online short dramas and IP derivatives (including AI short dramas) generated revenue of RMB 411 million in the first half of the year, a year-on-year increase of 108.72% , while overseas platforms achieved monthly operating break-even.

Guojin Securities points out that the industry's focus has shifted from simply generating effects to narrative coherence, industrialized pipelines, and compliance filings; companies with IP reserves, channel platforms, and mature AIGC workflows continue to amplify their competitive advantages.

Commercialization is still in its early stages; word-of-mouth and replicability are key variables.

Despite the buoyant market sentiment, Guojin Securities remains cautious about the commercial prospects of AI-generated long-form content.

The team clearly pointed out that "AI-generated long-form content still faces real challenges such as narrative refinement, user acceptance, and the maturity of industrialization pipelines."

Whether "The Sequel to Journey to the West" can truly succeed depends on two core variables: first, the word-of-mouth and user feedback data after its broadcast; and second, whether this production model can be quickly replicated by the industry. Guojin Securities stated, "If the broadcast and word-of-mouth data are impressive, it is expected to accelerate the industry's replication of the AI-powered long-form drama production paradigm, opening up space for platforms to reduce costs and increase efficiency."

The team also listed key risks: lower-than-expected user acceptance of AI content, intensified industry competition, changes in regulatory policies, and lower-than-expected content reputation.

Risk Warning and DisclaimerInvesting involves risk; please exercise caution. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Any investment decisions made based on this information are at your own risk.