Profits Warning Follows Box Office Slide
Maoyan, the Chinese film ticketing agency and film distribution company, has issued a warning that profits for 2022 are set to take a steep dive. Revenue for last year is expected to come in at RMB2.27 billion and RMB2.37 billion, representing a decrease of up to 31% compared with 2021. Profit attributable to the owners of the company will range between approximately RMB70 million and RMB120 million, representing a decrease of approximately 67% to 81% compared with attributable profit in 2021, which had been RMB369 million. The company’s fortunes are closely allied to the trend of the mainland Chinese box office. Nationwide theatrical grosses took a huge tumble in the second half of the year as the government stepped up its battle against the Covid outbreak, causing the full year box office to fall by 36%.
The company is now trying to diversify away from cinema ticketing with moves into distribution and production.
Maoyan, the Chinese film ticketing agency and film distribution company, has issued a warning that profits for 2022 are set to take a steep dive. Revenue for last year is expected to come in at RMB2.27 billion and RMB2.37 billion, representing a decrease of up to 31% compared with 2021. Profit attributable to the owners of the company will range between approximately RMB70 million and RMB120 million, representing a decrease of approximately 67% to 81% compared with attributable profit in 2021, which had been RMB369 million. The company’s fortunes are closely allied to the trend of the mainland Chinese box office. Nationwide theatrical grosses took a huge tumble in the second half of the year as the government stepped up its battle against the Covid outbreak, causing the full year box office to fall by 36%.
The company is now trying to diversify away from cinema ticketing with moves into distribution and production.
- 2/28/2023
- by Patrick Frater
- Variety Film + TV
Exclusive: Paterson Joseph (Wonka) has signed on to star alongside Cameron Ashplant and Marc Duret in Bet Your Bottom Dollar — a British indie drama marking the narrative debut of documentary filmmaker Brandon Ashplant.
Bet Your Bottom Dollar follows a young British man, Jack (Cameron Ashplant), as he travels in Southern France. As a result of his severe gambling addiction, he finds himself indebted to the French betting firm Parier24. The journey of self-discovery that he embarks on proves to be life changing. Paterson will play the Parier24 employee Victor, with Duret as his colleague Francois.
Pic is being produced by Golden Goat Films with support from Guernsey Arts. It’s slated for release in 2023.
Joseph is a British actor perhaps best known for his role as Wayne Gilchrest on HBO’s The Leftovers, and for starring alongside Leonardo DiCaprio in Danny Boyle’s The Beach. The actor has also appeared...
Bet Your Bottom Dollar follows a young British man, Jack (Cameron Ashplant), as he travels in Southern France. As a result of his severe gambling addiction, he finds himself indebted to the French betting firm Parier24. The journey of self-discovery that he embarks on proves to be life changing. Paterson will play the Parier24 employee Victor, with Duret as his colleague Francois.
Pic is being produced by Golden Goat Films with support from Guernsey Arts. It’s slated for release in 2023.
Joseph is a British actor perhaps best known for his role as Wayne Gilchrest on HBO’s The Leftovers, and for starring alongside Leonardo DiCaprio in Danny Boyle’s The Beach. The actor has also appeared...
- 11/29/2022
- by Matt Grobar
- Deadline Film + TV
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