Zhitong Finance App learned that Galaxy Securities released a research report saying that on the evening of March 31, the pre-sale box office of the Qingming movie " What kind of life do you want to live " reached 32.196 million, refreshing the single film of Qingming movies in the past three years. Pre-sale box office record (the original record holder is " my sister " in 2021, the original pre-sale box office record was 32.194 million). Judging from the recent box office performance of the domestic film market, changes in audience groups and movie-watching consumption habits have put forward new requirements for the film market. Emotional marketing, ritual marketing and fan effects have provided new opportunities for box office growth. The bank believes that the recovery and development trend of the film industry will remain unchanged in 2024, and the film market still has room for continued recovery and growth.
Galaxy Securities’ view is as follows:
Multiple movies are scheduled to be released, and the pre-sale box office is clearly stratified:
As of April 1, a total of 7 movies have been scheduled for Qingming Festival, 4 of which are scheduled to be released on April 3, and the rest are Released on April 4, the film genre covers comedy, animation, suspense and other genres. These include "How Do You Want to Live" directed and written by Hayao Miyazaki and produced by Studio Ghibli. The film won the 96th Academy Award for Best Animated Feature Film and attracted more attention from the audience. high. As of 15:00 on April 1, the film's pre-sale box office has reached 40.105 million, significantly ahead of other films in the period. In terms of other films, the pre-sale box office of " " was 5.835 million, and the pre-sale box office of "The Yellow Bird Behind!" was 2.658 million.
The movie market is picking up, and the movie market is expected to continue to grow during the year:
Since 2023, the movie market has been recovering significantly. The 2023 summer season, 2024 New Year's Day and Spring Festival box office all set new box office records for corresponding periods in Chinese film history. The bank believes that the pre-epidemic inventory of domestic film manufacturers has been gradually cleared, the production and release of new films have been steadily advancing, and the willingness of superimposed movie fans to watch movies has gradually increased. Both supply and demand sides have worked together, and they are optimistic about the market performance of the film market in the subsequent year. : Based on the box office of the Spring Festival stalls during the year, under baseline and optimistic conditions, the box office of the Spring Festival stalls in 2024 is expected to account for 12-14% of the total box office in 2024, and the annual box office is expected to be 57.3-66.8 billion yuan.
investment advice: Judging from the recent box office performance of the domestic film market, changes in audience groups and movie viewing consumption habits have put forward new requirements for the film market. Emotional marketing, ritual marketing and fan effects have provided new opportunities for box office growth. . The bank believes that the recovery and development trend of the film industry will remain unchanged in 2024, and the film market still has room for continued recovery and growth. It is recommended to pay attention to:
1), film manufacturers with sufficient reserves and high-quality films to be released, Enlight Media (300251.sz), Bo Na Pictures (001330.sz);
2), the leading theater chain Wanda Film (002739.sz);
3, has benefited from the recovery in demand. Its business covers the entire industry chain of film production, distribution and broadcasting, while Chinese Film (600977) has benefited from the restoration of the supply of imported films. .sh);
4) Online ticketing services have benefited from the market recovery, as have Maoyan Entertainment (01896), which has outstanding film production and promotion capabilities.
risk warning: the risk of intensified competition in the market, the risk of stricter policy supervision, the risk of film content quality and box office not being as good as expected, the risk of movie viewing demand being less than expected, etc.
