Source: Zhitong Finance
The summer movie market ushered in a “good start.” On July 1, the single-day movie box office broke another 400 million yuan. The hit film “Disappearing Girl”, which was released for 11 days, surpassed 2.3 billion dollars in total box office, making it the third highest grossing film in 2023 after “Man Jianghong” and “Wandering Earth 2.” According to data from the Lighthouse Pro edition, as of July 2, the box office for the 2023 summer program (including pre-sale) had exceeded 5 billion yuan.
According to statistics from Cat's Eye Pro, the box office of the Dragon Boat Festival movie reached 900 million yuan this year, achieving the second best Dragon Boat Festival box office record in Chinese film history. Currently, the box office for summer movies has also surpassed 5 billion yuan, which is expected to impact 15 billion yuan.
Up to now, 99 films have been screened or scheduled for the 2023 summer programThe blockbuster films are rich in genres, covering a variety of topics such as comedy, costume, youth, suspense, sci-fi, crime, action, animation, etc., to meet the differentiated viewing needs of audiences of all ages.
Judging from the investment scale, main creative lineup, and pre-screening popularity, the three blockbusters “Fengshen Part 1,” “The Super Family,” and “Megalodon 2: The Abyss,” made up the first tier of this year's summer films.
Specifically, the comedic theme “The Super Family” (starring Shen Teng; Happy Twist, produced by a Chinese movie), “School Dad” (starring Huang Bo, produced by Happy Media), the realistic theme “In the Octagonal Cage” (directed and performed by Wang Baoqiang, based on the incident of a fighting orphan), the mythical theme “Fengshen Part 1” (directed by Wulshan, Beijing Culture), and the youth theme “Enthusiasm” (starring Huang Bo and Wang Yibo, starring the Chinese film industry, Hengda Film Industry, Wanda Film Industry, Wanda Film Industry, and Wanda Film Industry) Producer), “Boyhood” (directed by Chen Kaige, produced by Bona Pictures), the animated film “Three Thousand Miles of Changan” (Chasing Light Animation, Chinese Film) Producer), “Tea No. 2 Middle School” (animated comedy film, produced by Light Media), action film “Anti-Drug 3: A Man's Life” (starring Gu Tianle and Kwok Fu-cheng), etc. Imported movies from popular IP series (“Mission: Mission: Fatal Liquidation (Part 1)”, “Megalodon 2: The Abyss”, etc.).
Wanlian Securities Research Report pointed out that the current Dragon Boat Festival performance exceeded expectations. The box office rose sharply by 408.38% year on year to 910 million yuan, making it the second place in the Dragon Boat Festival box office over the years, achieving a strong rebound. Compared to the 2018 Hollywood blockbuster “Jurassic World 2,” the three movies released during the Dragon Boat Festival are all domestic movies, but their reputation has been certified by the market, as can be seen from this“Content is king” is still hard logic, viewers will pay for quality content. This time, the Dragon Boat Festival schedule was led by domestic films, adding bricks and tiles. The content supply range was adequate, the audience coverage was wide, and the box office performance exceeded expectations.The recovery of the film market sends a strong positive signal.
On the policy side, on May 21, the Ministry of Finance and the National Film Administration issued a notice that in order to support the development of the film industry, special funding for the development of the national film industry will be exempted from May 1 to October 31. The period spans two major periods: the summer program and the National Day program.
Yu Dong, chairman of Bona Pictures, said, “The half-year exclusive capital reduction covers the May 1st program, the summer program, and the National Day schedule. These are three very important dates throughout the year. This time it's not levy first and then return; it's a direct reduction; it's a pre-tax exemption. Here, about 380 million yuan is directly returned to cinemas, and about 220 million is directly returned to producers. This time, the pre-tax relief comes directly from the cinema side; in fact, it also feeds back the important production side. This policy is a great benefit and impetus for this year's market recovery.”
According to the CITIC Construction Investment Securities Research Report,Summer film reserves are gradually being released, and there is still plenty of room for growth on the supply side in the future.According to the current trend of reserve release, there is still plenty of room for supply growth in July and August. Taken together, on the one hand, the sharp recovery in the number of imported films released has enriched the supply-side genres. On the other hand, there are films with the most popular actors in the domestic box office, which strongly supports the demand side and ensures a steady recovery in the summer box office market this year.
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$MAOYAN ENT (01896.HK)$: The company is backed by Tencent and Meituan, and has six major traffic entrances: WeChat, QQ, Meituan, Dazhong Dianping, Maoan, and Guevara. Channel advantages have helped Maoyan become the largest online movie ticketing platform in China, with a market share of over 60%. The summer program produced “In the Octagonal Cage” and “30,000 Mile in Changan”.
$HUANXI MEDIA (01003.HK)$: Currently, we have more than 20 movie and online series projects produced or currently being promoted by famous directors. This includes the summer program “School Dad,” starring Huang Bo.
$ALI PICTURES (01060.HK)$: Participated in the production of the summer films “The Super Family,” “Enthusiastic,” and “Disappearing Girl.”
$IMAX CHINA (01970.HK)$: The global IMAX cinema network is an important film distribution platform for Hollywood movies. IMAX theaters use proprietary IMAX, IMAX 3D, and IMAX DMR technology to provide the world's top movie experience.
Editor/jayden