Recently, a number of listed film and television companies have disclosed half-year performance forecasts. Wanda Films, Shanghai Films, Jinyi Films and other companies are expected to lose more than 100 million yuan. Among them, Wanda Films has become the “pre-loss king” with a loss of more than 520 million yuan. At the same time, Enlight Media, Huanrui Century, and China Film are expected to make profits.
On the evening of July 19, data from the professional version of the Lighthouse showed that the box office in the summer of 2022 exceeded 3.8 billion yuan, which is close to the level of last year. The producers of recently released films have also appeared as listed companies. In the second half of the year, in the face of the normalization of the epidemic, can the market recovery in the summer help the major film and television companies to reverse their performance?
On July 19, the reporter sorted out the performance of 10 major film and television listed companies and found that more than half of the companies had pre-lost in the first half of the year. Compared with the same period last year, except for Jinyi Film and Television, all five companies turned from profit to loss.
In the first half of this year, Wanda Films is expected to lose the most, reaching 520 million to 600 million yuan, compared with a profit of 640 million yuan in the same period last year. In addition, Jinyi Film and Television, Shanghai Film, Hengdian Film and Television, and Beijing Culture also suffered losses respectively, all of which indicated that the industry as a whole is still facing huge difficulties and challenges. Under the epidemic, measures including current restrictions and suspension of cinema operations have had an impact on performance.
According to the announcement issued by Wanda Films, when the company’s domestic cinemas were affected by the epidemic, about 410 cinemas were temporarily closed at the same time, accounting for nearly 51% of the company’s domestic cinemas. Therefore, the box office revenue fell sharply, and the box office in the first half of the year fell compared to the same period last year. 31.3%, coupled with higher fixed costs such as theater rent, depreciation, and employee compensation, resulting in a large loss in the company’s operating performance.
At the same time, in the first half of this year, some film and television companies also showed their ability to resist risks. On July 15, Enlight Media released a performance forecast, predicting that the company’s net profit was 175 million to 230 million yuan. Enlight Media said that the number of projects released by the company in the first half of the year was at the forefront of the industry, focusing on large-scale and high-quality content, and others. The layout of business segments is also maturing.
Compared with the bottleneck brought by a single business line, Huanrui Century, which is expected to be profitable in the first half of the year, also said that the company has actively explored and deployed in business directions such as cultural tourism, MCN, clothing derivatives, digital artists, and digital assets.
The box office in the summer season exceeds 3.8 billion yuan
The market shows signs of recovery in the second half of the year
Data show that in the first half of 2022, the national movie box office was 17.18 billion yuan, down 37.7% from the same period in 2021, and the number of moviegoers was 398 million, down 41.7% from the same period in 2021. From March to June 2022, the national movie box office was only 4.11 billion yuan, down 65.6% from the same period in 2021. Among them, the box office in March, April and May all hit new lows for many years.
With the resumption of work in various theaters, the summer season has been opened smoothly, and the market has shown signs of recovery. On the evening of July 19, Lighthouse data showed that the summer box office in 2022 will exceed 3.8 billion yuan, of which “Life Events” contributed nearly 40% of the box office. The reporter found that the producers and distributors behind the movie “Life Events” included Hengdian. Film and Television, China Film, Wanda Film and other listed companies.
Lighthouse data also shows that as of July 18, there were 9,927 operating theaters nationwide, with a nationwide theater operating rate of 81.6%. In the performance forecast, Wanda Films stated that the resumption rate of the company’s cinemas exceeded 90%, and the cinemas in Shanghai have also resumed operations one after another from July 8. The film supply and the audience’s viewing demand are gradually recovering.
Although the performance of listed companies in the first half of the year continued to be under pressure, with the boost of the summer program, the film industry is expected to gradually recover in the second half of the year. Bohai Securities said that according to the logic of gradually stabilizing the epidemic control, it is recommended to pay attention to the film and television entertainment industry. Now that the summer season has begun, you can pay attention to the box office performance of some popular films. Capital Securities believes that the current box office of “Major Events in Life” has exceeded 1.45 billion yuan, which has boosted the prosperity of summer theaters. It is recommended to pay attention to the recovery trend of offline entertainment.Return to Sohu, see more