cover news reporter Zhu Zhu
According to Beacon data, as of July 17, the total box office of the 2024 summer season (June 1 to August 31) has exceeded 4.7 billion, and the annual box office has reached 26.4 billion. Due to the long time span and the large number of moviegoers, the summer season has become a "key battle" for the year-round movie box office and the "performance" of listed film and television companies.
However, judging from the performance forecast for the first half of the year, Wanda Film’s net profit fell by 69.25% to 76.35% year-on-year, Beijing Culture had a predetermined loss of 26 million yuan to 33 million yuan, Bona Pictures had a predetermined loss of 108 million yuan to 153 million yuan... The performance of many film and television companies is not ideal.
Can the market turn around in the second half of the year? Currently, in the summer season, the box office of Happy Twist's new work " Catch Baby " has exceeded 700 million, and it has the potential to become a new force. The relevant person in charge of Wanda Film Securities told reporters: "As the main investor in the film, the box office will have a certain positive impact on the company's performance in the second half of the year."
Wanda Film's net profit fell by more than 69%
Many film and television companies' half-year performance forecasts Loss
A week ago, Wanda Film released its performance forecast for the first half of 2024. It is expected that the net profit attributable to shareholders of listed companies in the first half of 2024 will be 100 million to 130 million yuan, a year-on-year decrease of 69.25% to 76.35%.
Regarding the reasons for the decline in performance, on July 17, the relevant person in charge of Wanda Film Securities told reporters: "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. At the same time, affected by the overall decline in the overseas film market, the box office revenue of the company's Australian theaters was lower than expected, and fixed costs such as theater operating rent and depreciation were high, resulting in losses in the company's theater segment in the second quarter. "
Wanda Film Performance
At the same time, Jinyi Film and Television released a performance forecast for the first half of the year. The company is expected to lose 52.5 million yuan to 75 million yuan in the first half of the year. Jinyi Film and Television explained that the company has shut down projects that have experienced significant changes in the market operating environment and have no development potential. As of the end of the reporting period, the company's directly-operated theaters had a net decrease of 15 year-on-year, and the box office of the company's directly-operated theaters fell by 17.59% year-on-year. Movie attendance dropped by 15.10% year-on-year.
According to relevant announcements, Bona Pictures, Beijing Culture and other companies are expected to have varying degrees of losses in the first half of the year, while Huanrui Century has turned losses into profits. It is not difficult to see that the reasons why many film and television companies' performance fell short of expectations are attributed to the market: the national movie box office in the first half of the year was lower than the same period last year.
The movie box office in the first half of the year was 23.9 billion yuan
The market stamina was slightly insufficient after the Spring Festival.
Looking specifically at the movie market in the first half of the year, Maoyan data shows that the national movie box office from January to June 2024 was 23.902 billion yuan, a 9% decrease from the same period last year. , the number of moviegoers was 550 million, a decrease of 8.9% compared with the same period last year.
The 2024 movie box office market performed well during popular periods, but the total box office performance in the second quarter was average.
"The trend in my country's film industry is that films released during popular periods are highly crowded. New Year's Day, Spring Festival, and Tomb Sweeping Day all have good performances, while there are fewer films released during weekends." Industry insiders said that therefore there has been Most of the popular period box office performance is better but the cumulative total box office performance is average.
Film withdrawals occur frequently, especially in 2024. Facts have proved that withdrawals and re-releases have not significantly improved the film's box office revenue.
such as " Mr. Red Carpet ", "Let's Shake the Sun Together", " Nothing Can't Be Solved by a Hot Pot " and " Bajie: Canopy Lower World ", except for " Let's Shake the Sun Together " After the re-release, the box office increased by 195.71% year-on-year, and the growth of other films did not exceed 15%.
Over 110 movies are scheduled for summer
Analyst: It is expected to drive box office growth throughout the year
Compared with the same period last year, the voice of the summer movie market this year is slightly low-key. Last year's top four movies " All or Nothing " and " Disappeared" Her ", " Fengshen Part 1 " and " Octagonal Cage " all exceeded 2 billion in box office during the period, and their popularity is unprecedented.
Although the performance in June was weak, after "Silent Kill" was released on July 3, this year's summer box office hit a new high.Until July 13, the movie market's single-day box office reached 309 million yuan, the highest single-day box office in the summer season. This was mainly due to the screening of Happy Twist's new film "Catch a Baby". As of July 17, the movie's box office exceeded 700 million yuan, ranking second in the summer season, and has the potential to be a "dark horse".
The summer box office has reached nearly 4.8 billion
Relevant data revealed that there are currently 114 films released or scheduled for the summer season. Judging from the related popularity and the main creative lineup, "Pleasant Goat and the Big Big Wolf: Guardian", "Under the Stranger" and "From 21 "Safe Evacuation of the Century", "Decrypted", "Retrograde Life", "White Snake: The Floating Life", " negative negative gets positive " and other high-quality films to be released may continue to drive box office growth. The producers behind the film include Aofei Entertainment, China Literature Group, Beijing Culture, Wanda Film, Enlight Media, Hengdian Film and Television and many other film and television companies.
Bona Pictures stated in the announcement that the film "A Dream of Red Mansions: A Beautiful Marriage" invested and distributed by the company will be released on July 26. Wanda Film said that films such as "Manslaughter 3", "A Cloud Looks Like You" and "Liar" are also expected to be released within the year, and its content performance is also expected to be further improved.
Kaiyuan Securities analyst Fang Guangguang pointed out that the movie box office market may stabilize and rebound in July, the month-on-month growth rate has turned positive, and subsequent box office growth is expected to accelerate. Haitong Securities analyst Mao Yuncong believes that with the continuous release of high-quality content, the film and television box office is expected to pick up, and he continues to be optimistic about the development of AIGC applications in the medium and long term.
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