Headlines from China: These Film Companies Saw Growth In 2018 Despite Challenging Market Conditions 

These Film Companies Saw Growth In 2018 Despite Challenging Market Conditions 

Since 2018, many Chinese companies in film and television sector experienced a tough “industry winter” due to changing external circumstances, government regulations and the industry’s own historical issues. We took a look at the 15 publicly listed film & TV companies in China and found  that only three of them maintained profit growth last year. These companies are Beijing Enlight Media, China Film Group, and Beijing Culture. Among privately-listed enterprises, Beijing Enlight Media and Beijing Culture are the only two that were profitable last year. Beijing Enlight Media’s profit mainly came from selling its shares of New Classic Media. Beijing Culture’s performance was relatively stable. The company’s gross profit margin reached 51.1% (up 2.3% year-on-year), and it is the only privately-listed film and television company that has achieved a year-on-year growth in sales gross margin. Read more on entgroup.cn

Huayi Brothers Reports A $106 Million Loss for 2018

China’s leading entertainment firm Huayi Brother Media Co. reported its first loss annually since it went public in 2009. According to the company’s annual report released on April 26, Huayi Brothers saw a total revenue of RMB3.89 billion (US$577 M) in 2018 and a net loss of RMB1.09 billion (US$162 M), which is down 383.97% from a net profit of RMB828 million in 2017. The company attributed the loss to poor box office performance of its major film projects and the damage of business reputation. In addition to releasing the annual report for 2018, the company also released its Q1 report for 2019, which shows a net loss of RMB94 million(US$14 M). Several films produced by Huayi Brothers have been scheduled to release later this year, including war film The Eight Hundred and comedy The Last Ride. These films’ performances may play a vital role for the company’s future. Read more on Beijing News

Scarlett Johansson: The First Foreign Member of China’s “10-Billion-Yuan Box Office Club”

On April 27, Scarlett Johansson became the first actress and first foreigner whose movies made over RMB10 billion in China, according to online ticketing platform Maoyan Pro. Her appearance as “Black Widow” in Iron Man 2, Captain America 2, Captain America 3, and the “Avengers” franchise, have helped her score RMB 8.2 billion at the Chinese box office. Besides, other films she participated in, such as The Jungle Book, Lucy, Sing, and Ghost in the Shell also contributed to making Johansson the highest-grossing actress in the Chinese market. With the success of Avengers: Endgame in China, the actress’ total box office will continue to soar in China. Read more on cnBeta