Novel coronavirus's gloom continued to hang over the market on February 10th, and the Hang Seng index closed down 0.59 per cent. BABA Pictures (01060-HK) opened low in early trading, and after the co-produced film "1917" won an Oscar for best photography, best visual effects, and best sound effects, BABA Pictures shares rose rapidly, closing up 4.35%, attracting much attention in the current weak market.

Weibo Corp, the official of BABA Pictures, then struck while the iron was hot "to the end, facing the cruel war!" Two ordinary soldiers gave their lives to save 1600 people in 8 hours. Only when they persevere bravely can there be hope. Don't wait too long. See you at the cinema! "

"it won't take long to wait. I'll see you at the cinema! One sentence exposed the sadness of the current film and television industry. affected by the epidemic, domestic Spring Festival films have been suspended one after another, only Xu Zheng's "embarrassing Mom" was censured by some employees for free online viewing.

In fact, at a time when cinemas in China have been closed during the epidemic, it doesn't matter whether the film is off the shelves or not. According to the original holiday date of the Spring Festival in 2020, from January 24 to January 30, the cumulative box office in seven days is only 18.737 million yuan. The highest one-day box office in the seven days was 13.688 million yuan on January 25, and then fell back rapidly under the influence of the epidemic, falling below 100000 yuan after January 27.

Compared with the Spring Festival in 2019, the cumulative box office in seven days is as high as 5.87 billion yuan, with an one-day highest box office of 1.45 billion yuan. By contrast, box office receipts in the seven days of the Spring Festival in 2020 fell 99.8% from the same period last year, almost nothing.

With reference to the historical experience of box office distribution in 2019, the Spring Festival is the golden time of the year, and the loss of this key node may cause heavy losses to film and television companies, and BABA Pictures will inevitably be affected.

This is even worse for BABA Pictures, which has poor performance recently. Competition with peer Cat's Eye Entertainment makes it difficult for BABA Film to make a profit at present. Revenue during the period fell 2 per cent year-on-year to 1.501 billion yuan, while losses attributed to company owners rose sharply to 210-390 million yuan, according to its 2019amp 20 interim results.

It can be said that "1917" won the favor of the Oscars and boosted the morale of Ali Pictures, but rationally speaking, from the impact of BABA Pictures' full-year performance, depending on a film alone, the performance is limited. In addition, during the Spring Festival, there are a large number of films suspended due to the epidemic or the difficult scheduling problems after the epidemic has subsided. "1917" may compete with the many good products released after the backlog, and with a new film to follow up after this year, "1917" may not make a significant contribution at the box office. We can only hope that after the epidemic recedes quickly, the boost in consumption will bring the film and television industry back to the late spring of 2020.