The summer movie market is booming.
According to real-time data from Maoyan Professional Edition, on the morning of July 20, the box office of the movie " Catch a Baby " exceeded 1.1 billion yuan. In fact, this is only 4 days after the official release of "Catch a Baby" on July 16.
The film launched a large-scale screening on July 13. The box office on the first day of screening was approximately 156 million yuan, and the box office on that day successfully exceeded 300 million yuan.
Information shows that the comedy movie "Catch a Baby" tells the story of Ma Chenggang (played by Shen Teng) and Chunlan (played by Ma Li), a wealthy businessman living in Xihong City, who "do not take the ordinary path" and hope to train their son to become a talent through "poor raising" , the couple pretended to be a poor family, and a series of ridiculous stories happened over more than ten years.
In fact, the screening performance of "Catch a Baby" has exceeded expectations. According to Maoyan data, the film was released on July 13, and its box office and pre-sale box office exceeded 500 million yuan.
In terms of word-of-mouth, Maoyan and Taopiaopiao scored 9.5, providing a foundation for the subsequent long-term box office growth.
As of July 16, Maoyan Professional predicts that its total box office will reach approximately 3.7 billion yuan. In addition, the summer movie " Silence Kills " also achieved good box office performance. Maoyan Professional Edition expects its total box office to reach approximately 1.58 billion yuan. In terms of
producers, the film is produced by Xihong Film and Television, Wanda Film, Happy Mahua Pictures, Ruyi Pictures, Alibaba Pictures, China Film and other companies, Xinli Media, Maoyan Pictures, Hengdian Pictures, Penguin It is jointly produced by film and television, Youku and other companies.
It is worth mentioning that on the evening of July 9, Wanda Film released a performance forecast stating that it expected to achieve a net profit of 100 million yuan to 130 million yuan in the first half of 2024, a year-on-year decrease of 69.25% to 76.35%.
Talking about the main reasons for the change in performance, Wanda Film bluntly stated that in the first half of 2024, due to the insufficient supply of top films in the second quarter and the sluggish box office performance of the market, the overall recovery of the Chinese film market was less than expected. In the first half of the year, the company's domestic theaters achieved a box office of 3.13 billion yuan (excluding service fees), a year-on-year decrease of 14.5%, and the number of moviegoers was 75 million, a year-on-year decrease of 14.3%. At the same time, affected by the overall decline in the overseas film market, the box office revenue of the company's Australian theaters It was lower than expected, and fixed costs such as theater operating rent and depreciation were relatively high, leading to losses in the company's theater segment in the second quarter.
However, Wanda Film also said that although the film market was relatively flat in the second quarter, with the arrival of the summer season, the market is still confident in the continued recovery of the industry in the second half of the year. High-quality top films are expected to stimulate the continued release of movie-going demand and drive steady growth in box office and movie attendance, which are expected to have a positive impact on the movie market and the company's theater-side operations.
"In the second half of 2024, the company's film reserves will also be relatively abundant. The production and distribution films "Catch a Baby" and " White Snake: Floating Life " have been scheduled for July 16 and August 10. The film "Silent Kill" is currently in hot demand. " Under Strangers " and " Decrypted " will be released on July 26 and August 3. Films such as "Manslaughter 3", "A Cloud Looks Like You", ""Liar" and "I Like You" will also be released on July 26th and August 3rd. It is expected to be released within the year, and the company's content performance is also expected to be further improved," Wanda Film said.
In fact, the reason behind the box office of "Catch a Baby" exceeding 1 billion yuan is that the summer movie market continues to heat up.
According to real-time data from Beacon Professional Edition, as of 19:40 on July 18, the total box office (including pre-sales) of the 2024 summer season (June-August) exceeded 5 billion yuan, with "Silent Kill" and "Catch a Baby" " There is a Canteen in the Cloud " is temporarily ranked among the top three in the box office list. Among them, "Catch a Baby" entered the top ten box office lists of mainland movies in 2024 on the second day of its release, and its cumulative box office exceeded 800 million yuan in just three days of release.
At the same time, many first film projects will also follow.
Maoyan data shows that as of July 16, 114 films have been released or scheduled for the 2024 summer season. Key films also include " Pleasant Goat and Big Big Wolf: Guardian " (produced by Aofei Entertainment on July 19) , "Under the Stranger" (July 26, produced by China Literature Group, Beijing Culture, Wanda Film, etc.), " Safely Evacuates from the 21st Century" (August 3, produced by Enlight Media, etc.), "Decrypted" (August 3, produced by Maoyan Entertainment, etc.), " retrograde life " (August 9, produced by China Confucianism, etc.), "White Snake: Floating Life" (August 10, Wanda Movies, Maoyan Entertainment, China Confucianism, etc.) Produced by Italy, Hengdian Film and Television, etc.), " negative negative gets positive " (August 10), etc.
Kaiyuan Securities Research Report believes that the release of blockbuster new movies will drive box office growth, and we will actively pay attention to the summer movie schedule. The summer season may drive monthly movie box office growth year-on-year and month-on-month growth. "Judging from monthly box office trends, since the strongest Spring Festival season in 2024, the overall box office performance has been mediocre. The year-on-year box office growth rates in the single month from March to June 2024 were +46.2%, -21.9%, -13.5%, -46.0%, and the month-on-month growth rates were -74.9%, -19.7%, +31.8%, and -24.4% respectively. Benefiting from the boost of popular summer movies, the movie box office market in July may stabilize and rebound, and the month-on-month growth rate has turned positive. Subsequent box office growth is expected to accelerate."
Huatai Securities believes that the movie theater chain has basically reflected pessimistic expectations after adjustments, and the industry is expected to improve marginally and usher in allocation opportunities. The popular screenings of "Catch Me" and "Silent Kill" are expected to stimulate audience demand and market vitality, leading to a recovery in the film market. At the same time, in the second half of 2024, blockbuster movies will be released in the film market one after another. As film project production progresses, content supply is expected to continue to improve, driving a marginal recovery in the film industry's prosperity.
