Semi -annual report of listed companies ｜ The revenue of many film and television companies fell in the second half of the year or an orderly recovery

Cover News Profile reporter Tan Yuqing

As of August 31, the Professional Edition APP showed that the total box office of 2022 (June 1-August 31) reached 9.113 billion yuan (including pre-sale), which was higher than the same period last year. This "Lone Moon" box office ranks first in the box office, exceeding 2.89 billion yuan.

At the same time, a number of film and television companies including Wanda Film, Huaze Film, China Film, and Light Media recently released the 2022 semi -annual report, and many of them have not achieved revenue growth.

From August to October, the National Film Bureau launched a 2022 film -benefit consumer consumer season event, which is expected to issue 100 million yuan (RMB) movie consumer coupons, and at the same time implement a number of promotion measures for film consumption in Huimin and Primea. So, will the film and television market continue to recover in the second half of the year?

The theater has a long business period and the movie release period is uncertain

Frequent losses in the first half of the cinema movie market

It is reported that Wanda Film is a film and television company that has a serious loss in the first half of 2022. It loses about 581 million yuan in net profit at the mother, and its operating income decreases by 29.79%year -on -year to approximately 4.938 billion yuan.

In the semi -annual report, Wanda Film revealed that in the first half of 2022, affected by the epidemic, its company's domestic cinema was suspended at the same time, accounting for more than half of its domestic theaters, and the average single store was closed for about 42 days. In addition, the first- and second -tier cities with a large distribution of the company's theaters were even more affected, resulting in a large decline in the company's box office revenue. During the reporting period, the box office was about 2.44 billion yuan (excluding service fees), a decrease of 31.3%from the same period in 2021.

The main reasons for the decline in operating income of Huayi Brothers, Bai Naqiancheng, and Hengdian Film and Television, which are in a state of losing money, are similar to Wanda Movies. Most of them are reduced revenue of film release, decreased in cinema box office revenue, delay in screening, or cinema suspension.

Public information shows that the Huayi brothers were released in the first half of the year, and its film and television entertainment business in the first half of this year was only 209 million yuan, a year -on -year decrease of about 59%. It is reported that the revenue of film and television entertainment business accounts for 98.7%of the total operating income of Huayi Brothers.

Copyright operation, product goes to sea

Some film and television companies achieve profitability through multiple layouts

There are also a small number of film and television companies achieve profitability through diversified operations in the first half of the year.

Among the film and television companies that have increased their net profit year -on -year, Huace Film and Television's net profit returned to the mother and accounted for a relatively large revenue, about 240 million yuan, an increase of 2.6%year -on -year. In addition, its operating income is about 1.187 billion yuan.

The Hualica Film and Television Half -annual report revealed that the overall profit growth of its company was the rapid growth of the high gross profit business such as copyright operations, international high gross profit, as well as investment and wealth management income.

The business structure of Huanrui Century, which has achieved profit growth, also shows that not only relying on movies or theater box office profit. Specifically, "film and television dramas and derivatives" are the main sources of their income, accounting for 85.9%of the total revenue. In addition, Huanrui Century revealed that the main reason for its operating income is the increase in new TV drama sales.

100 million yuan viewing subsidy+various preferential policies

The film market in the second half of the year may recover in an orderly manner

According to the National Film Bureau, in order to promote film consumption and accelerate the recovery of the film market, not only will the consumer coupons be issued in the consumption season, but also will also support the construction and operation of the cinema of townships and townships. Rental exemptions, electricity use discounts, business interrupt insurance and other anti -enterprise relief policies have landed in the film industry.

Wanlian Securities believes that the relevant policies issued by the National Film Bureau will further stimulate the potential of film consumption, alleviate the turning difficulties accumulated by theater in the past six months, and thereby promoting the orderly recovery of the film market.

"The subsidy of 100 million yuan is expected to promote the industry's demand end to warm up, and then catalyze the supply side to release high -quality production capacity and help the industry enter the reversal channel. In addition, we believe that the industry is expected to boost the rhythm of film review by this policy." Part of the views in the comments of Zhejiang Business Securities related industries are similar to Wanlian Securities. They expect that the subsidy is expected to drive 50-1 billion box office increments. In addition, they believe that subsidies and policy encouragement are expected to mobilize the enthusiasm of the filmmaker to put high -quality films into the market.

Top Data's "Research Report on the Chinese Film Market in the First Half of 2022" predicts that the box office will reach 15.7 billion in the second half of the year, achieving a cumulative box office of 32.9 billion in the year.

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