数字人直播电商的商业模式创新与盈利能力可持续性分析

Analysis of Business Model Innovation and Sustainable Profitability in Digital Human Live Streaming E-Commerce

摘要: 随着我国数字经济纵深发展，直播电商已成为推动消费增长和商业转型的重要力量，然而其主流采用的真人直播模式因头部主播风险频发、佣金高昂与运营成本持续上升而面临可持续性挑战。在这一背景下，依托人工智能生成内容(AIGC)技术的数字人直播应运而生，成为重构行业模式与提升盈利能力的新路径。本文通过整合商业模式画布(BMC)理论、资源基础观(RBV)和动态能力理论构建分析框架，结合典型案例比较，系统剖析数字人直播在成本结构、收入模式与竞争壁垒维度的创新机制与盈利可持续性。研究表明，数字人直播通过“高固定–低可变”成本结构发挥经营杠杆效应，借SaaS订阅、IP授权等新型收入源增强稳定性，并以技术–数据–IP协同构建系统性壁垒，从而在理论与实践中展现出较传统真人直播模式更优的盈利韧性与可持续性，但也面临技术、合规与信任赤字等挑战。本文为AIGC时代电商企业商业模式创新提供了理论参考，也对企业战略决策与行业政策制定具有一定启示意义。

Abstract: With the deepening development of China’s digital economy, live streaming e-commerce has emerged as a significant force driving consumption growth and business transformation. However, the mainstream human-hosted live streaming model faces sustainability challenges due to frequent risks associated with top influencers, high commission costs, and continuously rising operational expenses. Against this backdrop, digital human live streaming, powered by Artificial Intelligence Generated Content (AIGC) technology, has emerged as a novel approach to reshape industry practices and enhance profitability. This study constructs an analytical framework by integrating the Business Model Canvas (BMC) theory, Resource-Based View (RBV), and Dynamic Capabilities Theory, combined with comparative case studies, to systematically examine the innovation mechanisms and profit sustainability of digital human live streaming across dimensions such as cost structure, revenue models, and competitive barriers. The findings reveal that digital human live streaming leverages a “high-fixed, low-variable” cost structure to achieve operational leverage effects, enhances stability through new revenue streams such as SaaS subscriptions and IP licensing, and builds systemic barriers via technology-data-IP synergies. Consequently, it demonstrates greater profitability resilience and sustainability both theoretically and practically compared to traditional human-hosted live streaming, though it also confronts challenges related to technology, regulatory compliance, and trust deficits. This research provides theoretical insights for business model innovation in e-commerce enterprises during the AIGC era and offers practical implications for corporate strategic decision-making and industry policy formulation.