Huayi's successful listing last year taught a good lesson to film and television companies based on traditional business models.

Why is it listed?

Just to raise funds, make up for shortcomings, and expand the industrial chain!

Small and medium-sized companies do not dare to expect too much, they can only envy and hate, and those large companies of similar size are all surging.

At present, four major companies have been formed in the mainland, namely Huayi, Tangren (Mengxi), Bona, and Guangguang, which integrate film production and distribution.

After Huayi went public, Tang Ren immediately went public the following year, and the light was also set for August next year...

Yu Fatzi is full of confidence, or he doesn't like the concept stocks!

He felt that a more open and active United States was more suitable for PropNex's growth, so he brought the company to a more "tall" NASDAQ, so that PropNex has a more "dazzling" title: the first Chinese cultural concept stock to land in the US capital market.

——PropNex chose Shen Nanpeng Investment, a returnee from VC and PE, to lay out a red-chip structure and go public in the United States.

And then what?

On the first day of listing, PropNex fell below the issue price, closing at $6.58 per share, with a market value of only $660 million...

Yu Fat Man was dumbfounded...

If you have to count the volume, Bona really does not lose to Huayi, Bona has 18 theaters...

Backed by the Hong Kong circle, eight to ten films are released every year.

Let's just say that this year, Bona participated in the production and distribution of "Pleasant Goat and Big Big Wolf: Tiger and Tiger", "Yueguang Treasure Box", and "King of Guns", all of which have a box office of more than 100 million!

"Laughing Jianghu", 43 million in the first weekend...

It's already good, what more do you want?

The production cost of this broken film is up to 40 million!

Ironclad return to cost.

It stands to reason that in the secondary market, the market value should rise, at least not fall, and it has fallen so much!

A drop of 32%...

The market capitalization is not even $500 million!

In contrast, after the release of "The Monitor", the share price of Tangren Film and Television has been rising, although the increase in a single day is not much, but it has been growing online for four consecutive days, with a cumulative increase of 18%, directly pulling the market value to 19 billion...

A six-fold market cap gap...

directly made Yu Fat depressed.

It is said that before 2015, new films, box office, actor contracts and other things will affect the secondary market.

For example, "If You Are Honest Do Not Disturb 2" was established, which made Huayi's stock rise by 8%.

The most typical "Thai Embarrassment", Guangguang Media followed this shareholder wind and directly rose by 81.48%.

At that time, many media jokingly called "Thai Embarrassment" "popular" Light Media!'

However, after 2015, the impact of a single movie's box office on the stock price gradually became smaller...

Don't worry, you can still eat four years of dividends!

......

"U.S. stocks are all institutional investors, and the investment value of Chinese film companies, they don't understand, Bona estimates that it will be miserable. ”

"They are right, under the impact of TV and the Internet, the box office itself does not make money, and the only way to make money is the development of movie peripherals, which is the Disney model! But not now, and the Disney model is only one leg, I dare to conclude that with the advent of the mobile Internet era, streaming will become a big trend, and we have to start a video platform..."

Zhao Jinsong nodded in approval, but at the same time said: "There are many unlisted video platforms on the market now, but they are quite complicated. ”

"Complicated?"

"There are too many investors behind Tudou and Kuliu..."

"That's right, moreover, the traditional video website with UGC as the main model is gradually transforming into a video communication platform with copyright content as the core under the combined influence of copyright supervision, attracting users and capital wrestling... The copyright war is about to start, and Tudou and Kuliu are about to launch on the stage of history!"

In fact, if Shen Mengxi is shameless enough, follow the example of Kuliu to make a video website - Kuliu: specially made a rogue program that grabs videos from similar websites, and then automatically covers the logo and uploads it to his own website for a second time, so as to cover up the number of actual uploaded videos that are only a handful of videos per day...

At that time, everyone was a pirated website, and it was content and creativity that was spelling!

Why are potatoes awesome: Everyone is the director of life, and micro-movies are the first to be made by potatoes.

"Mao Liar", "Those Maverick Pigs", "College Students' Cohabitation", and "Happy Little 2B" were all uploaded to Tudou at the beginning, and Lao Shi and Director Ao were all god-level UP masters of Tudou.com...

Why is it cold?

I don't have the money to buy copyrights!

The copyright war is about to break out, and in 2011, at its peak, the copyright of solo dramas rose from tens of thousands to millions of episodes...

Of course, the follow-up returned to the normal trajectory - the most impressive thing was Sohu's 50000 buyout of "The Indelible Number"...

Zhang Chaoyang is very rich!

Shen Mengxi thought for a while and said, "That's it, let's talk to Sohu first, broadcast the drama alone, and the price is 600,000 per episode... You remember to let out the wind..."

Zhao Jinsong was speechless: "600,000 episodes?

"It's not expensive, there are so many video sites, what do you rely on to attract users?

“... Okay, I'll talk to them..."

"You bring the trailers of the three TV series "Cliff", "Step by Step", and "Battle of Changsha"..."

"I know..."

Zhao Jinsong left the office, and Shen Mengxi re-studied the film market...

"Let the Bullets Fly" will be released on the 16th, and there are still ten days to go.

According to the existing market feedback, "The Watchers" can achieve 250 million!

Could it be a little higher?

After thinking about it, he dialed Xu Xiaofeng's phone - he is the general manager of China Film Jiahe Cinema Line, and he is actually responsible for the company's cinema business.

I asked about the attendance of the three movies now...

Sure enough, "Zhao's Orphan" has the lowest attendance rate!

The film schedule is high - "Zhao's Orphan", Ge You, Wang Xueqi, Fan Biscuit, Huang Xiaoming, Bao Guoan, Zhang Fengyi, even the soy sauce is Wan Qian...

The cast lineup is too strong!

China Film Golden Harvest Cinema Line gave 35% of the film schedule, which is lower than the average level of the national cinema chain.

That's it, the attendance rate of "Zhao's Orphans" is still inferior to "The Watchers", and the attendance rate in Beifeng is even lower than that of "Laughing Jianghu"...

"You cut the film schedule, increase the schedule of "The Watchers" by 35%..."

“... Good!"

......

Movies produced by your own company will definitely receive preferential treatment.

You don't even have to think about it!

Despite what Shen Mengxi said, 'We never interfere in the cinema schedule business. But Golden Harvest Cinemas itself is one of Dream Creek's businesses.

Let's put it this way, even on the first day of "Heart Labyrinth", Golden Harvest Cinemas gave 20%!

Xu Xiaofeng is also ruthless, and the next day he raised the film schedule of "Zhao's Orphan" from 35% to only 22%, almost cut in half, in addition, "The Monitors" was scheduled for 42%, and "Laughing Jianghu" was 20%...

The remaining 16% was given to "Harry Potter" and "Midnight Heartbeat", "Midnight Operating Room"...

That's right, the last two are horror films produced by Mingxi.

Don't say it, there are quite a lot of people watching horror movies during the Chinese New Year!

Then, Qin Hong, the producer of "Zhao's Orphan", quit and directly spoke on Weibo accusing Golden Harvest Cinema of suppressing the film schedule of "Zhao's Orphan"...