文件名称:中金公司-TMT行业:三网融合深度研究报
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更新时间:2013-05-18 03:34:07
三网融合
三网融合政策回顾和解读..................................................................................................................6 三网融合概念解析...........................................................................................................................6 三网融合政策解读:非对称双向进入和试点为先................................................................................8 加快推进三网融合的政策建议.........................................................................................................12 付费电视行业增长空间巨大,内容过度监管是主要瓶颈.......................................................................18 海外付费视频产业在竞争中良性发展...............................................................................................18 中国付费视频产业发展缓慢,内容管制是主要制约因素....................................................................25 中国视频产业潜在规模1800 亿元...................................................................................................27 宽带行业竞争不充分,资源垄断和监管缺失是主因.............................................................................30 美国宽带产业竞争充分...................................................................................................................30 中国宽带产业缺乏充分竞争,资源垄断和监管缺失是主因.................................................................34 中国宽带市场潜在市场规模为2000 亿元.........................................................................................38 竞争并非全部,融合业务存在机会....................................................................................................39 IPTV:广电内容+电信固网............................................................................................................40 CMMB手机电视以及其他无线多媒体接入:广电广播传输+电信移动通信............................................42 有线宽带:广电有线网+电信出口带宽............................................................................................44 互联网视频:广电内容+互联网渠道................................................................................................44 有线互联网:广电有线渠道+互联网内容.........................................................................................45 受益行业及投资逻辑.......................................................................................................................47 有线网络:利好,主题投资内涵丰富,唯估值高企...........................................................................47 电信服务:消息面利空,长期利好..................................................................................................49 内容产业:内容为王时代到来.........................................................................................................53 软硬件设备行业:直接受益于投资加大...........................................................................................55 接收终端:3C融合.........................................................................................................................