Guotai Junan released a research report stating that with the recent intense scheduling of movies, the visibility of the release schedule has been increasing.
According to data from Maoyan Professional, the film "Dog Battle" broke 20 million in total box office in four days of its release.
Guotai Junan's outlook for the 2024 summer season: pay attention to the performance of key films under high base number, and it is expected that the box office during this period will decrease by 15% to increase by 5% YoY. There is considerable pressure on the high base numbers for those headlining films grossing over one billion yuan in the 2023 summer season. We predict that this year's total box office may be between 85% and 105% of last year's summer season, and the performance of headlining films may have an important influence on the final box office results. It is suggested to continue to pay attention to the progress of key films' scheduling and the box office performance after the release of scheduled films.
CICC released research reports, stating that with the recent intensive scheduling of films, the visibility of film schedules has been increasingly improved.
According to Yien, in the first five months of 2024, the total box office revenue including service fees amounted to 21.65 billion yuan, a YoY decrease of 2.3% compared to the same period in 2023. It is recommended to focus on the potential of box office elasticity driven by key summer content. In the short term, the capacity and contribution rate of the summer season are relatively high. In the medium and long term, content and brand are still the trendsetters of the industry.
SDIC Trust's research report suggests the summer season as the longest movie season of the year, which is expected to lead stable growth of the box office throughout the year. Looking back at the box office of previous summer seasons, the summer season is an important and popular period for the overall market box office performance for the year. The total on-screen time lasts for 92 days and the duration of the season is relatively long, providing ample space and time for many potential hit movies. The box office performance in the 2023 summer season has been impressive, and the 2024 summer season cycle has already begun with a series of hit movies starting to schedule their release dates.
Related companies in the film and television industry chain:
Maoyan Entertainment (01896): As a leading online ticketing platform, distributor and integrated marketing platform for domestic films and internet entertainment, Maoyan Entertainment's coverage extends throughout the upstream and downstream industries. The performances of the films controlled by the company during the Spring Festival season, Labor Day Golden Week and the summer season are all impressive, and the company's publicity service capabilities and market coverage are further enhanced. In 2023, the company's online entertainment ticketing business achieved revenue of 2.26 billion yuan, an YoY increase of 111.5%, and continued to maintain a leading position in the market, consolidating its competitiveness.
Alibaba Pictures (01060): Alibaba Pictures has launched the Orange Plan special content unit with specific emphasis on "Chinese film giants", the release of seven Chinese film giants displays confidence and strength. The seven diversified and multi-themed blockbusters, "Sub-Normal People", "Reversal of Life", "Fire Town", "Bodyguards", "East Pole Island", "Shining of Stars" and "Spy Mission" were unveiled one by one.
China Ruyi (00136): From ByteDance, which has been shrinking its gaming business, has taken over Aoqi Universe. In 2023, China Ruyi's revenue from gaming business increased by 7 times. In addition to launching multiple games online, it also relies heavily on the support of Tencent, and even the acquisition of Aoqi Universe has a deep connection with Tencent. While expanding the gaming business, China Ruyi intends to explore the cooperation between gaming and its film and television business.
China Lit (00772): After creating a series of hit films and television series such as "The Blooms at Ruyi Pavilion", "Beautiful Reborn Flower" and "Joy of Life Season 2", China Lit is trying to further raise the value of its content.
IMAX Corp. has signed an agreement with Wanda Film to upgrade and add more screens in China. China is the second largest market for IMAX in terms of revenue. Imax, known for its huge screens, CEO Rich Gelfond said in an interview that the company will open as many as 25 new addresses in China over the next three years and refurbish or renovate 100 existing venues over a longer period. At the same time, Gelfond expects more Hollywood movies to be shown in China this year, surpassing last year's record of 41, and 25 in 2022.
Huanxi Media (01003): The film "Sauce Yard" has been officially announced to be selected for the non-competition unit of the 77th Cannes International Film Festival. It is reported that the film has been in preparation for seven years and has attracted great attention since its official announcement in 2016. According to publicly disclosed information, "Sauce Yard" is produced by Huanxi Media Group Co., Ltd., Tianjin Maoyan Weiyin Culture Media Co., Ltd., China Film Co., Ltd. and others. Among them, Huanxi Media achieved revenue of HKD 1.33 billion in 2023, a significant increase of 97 times.