On April 24, Mango Excellent Media Co.,Ltd. disclosed its financial report for the first quarter of 2026. During the reporting period, the company adhered to its dual-engine strategy of "Culture + Technology," maintaining stable overall operations. Revenue for the quarter reached 3.084 billion yuan, a year-on-year increase of 6.35%, while net profit attributable to shareholders reached 199 million yuan. A company representative stated that both advertising and operator businesses maintained relatively rapid growth compared to the same period last year.
The company's flagship variety show IP, "Ride the Wind," recently delivered another phenomenal performance. "Ride the Wind 2026" premiered in a fully live, unedited, and unprocessed audio format. Within just 12 hours of its first-day live broadcast, the show garnered over 253 trending topics on Weibo's two main charts, with 14 topics successively reaching the number one spot. It became the first variety show of 2026 to exceed 100 million on Weibo's hot broadcast index and claimed the top position on the variety show dominance chart with a 23.5% market share of official episode viewership.
Beyond "Ride the Wind," the company's other established variety show IPs also demonstrated strong market appeal. Data from Yunhe shows that in the first quarter of this year, Mango TV secured 7 spots in the top 20 list of effective plays for online variety shows. In the daily peak hot broadcast chart for established variety show market share, Mango IPs occupied 5 of the top 10 positions.
In series production, Mango achieved differentiated breakthroughs through precise audience targeting. Data from sources like Yunhe and EntGroup indicates that in the first quarter, Mango had 3 series rank in the top list for cumulative effective plays of long-form online series, with 100% of its new domestic series being jointly broadcast on TV and online platforms. Furthermore, Mango newly ventured into the production of premium mid-length series of 20-35 minutes. The filed project "Baozhu" aims to fill a market gap with its distinctive narrative. For 2026, Mango targets becoming a leading player in the micro-drama segment, planning to release ten thousand new works annually, with no fewer than 200 being premium productions, aiming to build a comprehensive ecosystem where "long series lead, mid-length series support, and short series drive traffic."
Since the beginning of the year, the company's advertising and operator businesses have maintained rapid growth. In advertising, the company's advertising revenue last year was 3.831 billion yuan, showing a continued positive trend in the second half after a sequential recovery in the second quarter. In the first quarter of this year, the series "Good Times" secured partnerships with 82 brands, while "Peaceful Years" and "The Goddess Covers Her Eyes" attracted 27 and 26 advertisers respectively. "Yuming Tea Bone" and "You Are a Belated Joy" each garnered partnerships with over 10 brands. On the variety show front, "Dear Inn 2026" ranked as Mango's second-highest variety show of the year by securing sponsorships from over 8 brands. New variety shows "We Are Burning with Passion" and "Fire Up! Junior League" attracted 14 and 8 brand partnerships respectively.
On the operator side, the company's operator revenue reached 1.649 billion yuan last year, achieving steady recovery and innovative breakthroughs. Data from QuestMobile shows that in 2025, the average monthly active devices for Mango TV's OTT application increased by 11.7% year-on-year. In December, the average daily usage time per OTT application household increased by 6.9% year-on-year, with both growth rates ranking first in the industry. The panoramic ecosystem user base grew by 13.8% year-on-year, with ecosystem traffic accounting for over half of the total, further solidifying the platform's competitive advantage as a "closed-loop player."
It is understood that in 2025, Mango TV partnered with China Telecom and China Mobile to successively launch two ultra-high-definition exclusive products: "Cloud TV" and "Watch Freely on the Big Screen." These products enhanced user experience through advantages like all-inclusive pricing, no hidden fees, and user-friendly operation. The telecom "Cloud TV" product gained nearly 140,000 users within four months of launch. Additionally, the company innovatively introduced the industry's first TV bullet chat product for its big-screen business, covering over 30 million big-screen users. This effectively enhanced interactivity and user stickiness, directly increasing program viewing time by 20%.
With the advancement of the integration of culture and technology, Mango's digital and intelligent transformation is also accelerating. In February of this year, Mango TV established an AIGC Innovative Content Center as an independent first-level department, operating in parallel with the Program Production Center and Technology Center. This center primarily focuses on areas like AI comic dramas, virtual idols, and AI live-action series. Simultaneously, it is cultivating specialized talent in bulk through the group's practical training camp, promoting the deep integration of AI capabilities into the entire content production process. Reportedly, since the Spring Festival this year, the AIGC creation practical training camp run by Mango TV's "Shanhai AIGC Content Creation Platform" has trained over 3,500 participants.
In the next phase, the center will also integrate the entire chain of content planning, project production, and commercial operation, focusing on in-depth development in areas like virtual galas, virtual idols, and the Cluebie series of AI animations, precisely positioning for long-term IP operation.
On the content production front, the "Mango Large Model" is increasingly highlighting its core role within the entire content ecosystem. Through the Shanhai AIGC Content Creation Platform, the company has achieved intelligent production across the entire process, with several AI works successively launched and achieving impressive data.
Industry insiders point out that Mango's AI approach is relatively "pragmatic." Instead of pursuing a general-purpose computing power race, it precisely targets each细分节点 of content production, tangibly converting technology into monetization, and using the fusion of "AI + Creativity" to drive the synergistic advancement of content and technology as a "double arrow."
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