On the afternoon of June 11, on the first day of the opening of the 24th Shanghai International Film Festival, the 4th China Film and Television Capital Summit, which integrates “finance + film and television + crossover + integration”, was grandly opened in Shanghai Film Group No. 5 Studio .
Under the new situation, where is the new path of Chinese film investment? How has the attitude of capital towards the film and television industry changed? “According to my observation, since 2018, capital’s attitude towards the film and television industry has undergone a major change, which has led to a sharp decrease in investment in this industry.” Wang Changtian, chairman of Guangguang Media, said bluntly.
Wang Changtian, Chairman of Enlight Media, shared his views at the summit. Source: Photo courtesy of the organizer
In Wang Changtian’s view, this reduction is not only reflected in the investment in film and television companies, but also in specific film and television projects. “In terms of equity investment, few companies received external equity investment in the initial stage, and their investment in the project itself has also sharply reduced, resulting in many projects being unable to start construction because of insufficient funds.”
Wang Changtian believes that the current capital market has basically adopted a policy that is close to the blockade of the film and television industry. “There is no new company in this industry to go public, and there is no way to raise funds, which directly causes the core enterprises and listed companies in the industry to have funding problems.”
Under the superposition of several factors, Wang Changtian believes that the film and television industry is at a trough of capital investment. “When will it pass? I still don’t see clearly.” Wang Changtian said, the core of capital investment in the film and television industry should be the investment in content companies and film and television projects.
“The core solution must be found, otherwise even if the market returns to normal, the production capacity and product quality of this industry will not be able to keep up.” Wang Changtian said.
Cover image source: Photo courtesy of the organizer
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