Huanxi Media (01003) announced that on November 7, 2019, Huanxixi, an indirect wholly-owned subsidiary of the company, entered into a guaranteed release agreement with Hengdian Pictures as a guarantee for the film "囧母". The film will be distributed by city theaters in China, Hong Kong, Macao and Taiwan, and the period will be 10 years from the date of the guaranteed release agreement to the first day of release in the authorized region.
Accordingly, the two parties agreed that the guaranteed total box office is RMB 2.4 billion, and the guarantee party needs to pay a minimum guaranteed distribution consideration of RMB 600 million; if the actual total box office of the movie exceeds the guaranteed total box office, in addition to the guaranteed minimum distribution price mentioned above , The two parties can share the box office portion that exceeds the guaranteed total box office in proportion to the film’s net income of the movie, with 35% for joy and 65% for the guarantee.
According to the agreement, as part of the guaranteed issuance agreement, the guarantee party shall bear the budget promotion and issuance costs of RMB 150 million. Regardless of whether the actual total box office of the movie reaches the guaranteed total box office, Huanhuanxi will not bear the publicity and distribution costs, as well as the guarantee party’s distribution agency service fees for the movie. The film is tentatively scheduled to be officially released in theaters in China in January 2020.
Xu Zheng’s performance and director strength, and box office appeal have long been recognized by the market. The predecessors of the "囧 series", "Tai囧" and "Hong Kong囧" were released in 2012 and 2015, with a box office of approximately 1.3 billion yuan and 1.6 billion yuan. In 2018, the movie "I am not a medicine god" starring Xu Zheng won nearly 3.1 billion yuan in box office. From this point of view, there is no need to worry about the box office of "囧 Ma" Spring Festival stalls.
At present, the 2020 Spring Festival file has sounded the "Assembly Number", and the official announcement of 7 films will be released in the 2020 Spring Festival file, including "囧Mom", "Chinatown Detective 3", "Chinese Women's Volleyball", "Emergency Rescue" , "Jiang Ziya", "Pioneer", "Bear Haunt. Wild Continent". Among them, "囧Mom", "Chinatown Detective 3", "Chinese Women's Volleyball", and "Emergency Rescue" are the four head films for the 2020 Spring Festival. Among the four films, Huanxi Media produced two of them-"囧Mom" and "Chinese Women's Volleyball". One of
's most concerned security plan before is the guarantee of "Mermaid". The specific amount of the guarantee is unknown, but the amount is definitely not small. In the end, "Mermaid" won 3.4 billion box office, both the producer and the guarantee party made a lot of money, so this is also a classic case of movie box office guarantee. Therefore, some media pointed out that Xu Zheng may become the next Stephen Chow!
Next, will "囧Mom" and "Chinese Women's Volleyball" recreate box office myths? Everything remains to be seen!
