Movies and offline performances strongly revive Maoyan Entertainment’s performance in 2023, off the charts

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  On March 21, Officially released the 2023 annual performance announcement. Its total income was 4.757 billion yuan, an increase of 105.1% over the same period in 2022; The net profit was 908 million yuan, up 766.2% over the same period of last year. During the period, the adjusted net profit was 1.029 billion yuan, which also increased by 342.2% compared with 2022.

  For the performance surge, the company believes that it is mainly driven by two factors.

  The first is the recovery of the entertainment industry. According to the statistics of the National Film Bureau, the total box office of national films reached 54.915 billion yuan in 2023, an increase of 82.64% compared with 2022. The annual box office of domestic films reached 46.005 billion yuan, accounting for 83.77% of the total box office, surpassing 41.175 billion yuan in 2019, a record high.

  During the reporting period, he participated in the announcement and distribution of 52 domestic films, and controlled the distribution of 30 domestic films. The number of films and the cumulative box office reached a record high in the same period. These include the Spring Festival box office champion Man Jianghong, the May 1st box office champion Life is Unfamiliar, the summer fantasy costume blockbuster The First Part: Singing the Songs, the summer dark horse movie The octagonal cage, and the top three box offices in the New Year’s Eve, Twinkle, twinkle, bright stars, The annual meeting can’t stop! "Golden Finger" and so on.

  In 2023Among the top ten films at the box office, four were announced by the master controller, five were produced by the master controller, and eight films were produced, and the box office coverage rate of the films involved also reached a new high in the same period of history. According to the data of the National Film Bureau, the total box office of Maoyan Entertainment in 2023 reached 18.698 billion yuan.

  Driven by the box office growth of Xuanfa and produced films, the revenue from Maoyan Entertainment’s content services increased by 106.6% from 1.113 billion yuan in 2022 to 2.3 billion yuan in 2023.

  At the same time, the recovery of the offline performance market boosted the related income growth of Maoyan Entertainment. According to the data of China Performance Industry Association, the cumulative attendance in the first three quarters of 2023 reached 111 million, exceeding the cumulative attendance in the whole year as of December 31, 2019.

  In this context, the total revenue of offline performances and GMV (Total Commodity Transaction) in Maoyan Entertainment reached record highs in the same period, and the revenue from online entertainment ticketing business increased by 111.5% from 1.068 billion yuan in 2022 to 2.259 billion yuan in 2023.

  During the reporting period, Cat’s Eye provided ticketing services for more than 100 concerts, hundreds of e-sports events and more than 300 top sports events. Outside the mainland market, the company is also exploring the markets of Hong Kong and Macau, providing performance support services in Hong Kong through the city ticketing network, launching the ticketing platform UUTIX, and officially launching its own performance ticketing business in Hong Kong.

  In addition, the revenue from advertising services and other services in Maoyan Entertainment last year was 198 million yuan, an increase of 43.5% compared with 138 million yuan in 2022, mainly due to the overall recovery of the domestic film market.

  Zheng Zhihao, executive director and CEO of Cat’s Eye, said that under the background of strong recovery of the industry, the company seized the opportunity to achieve continuous business breakthroughs and development, and many business and financial indicators reached record highs.

  On the other hand, Maoyan Entertainment is also active in product and AI data capabilities. During the reporting period, Cat’s Eye Professional Edition launched a number of digital products to serve the whole process of film production and announcement. Among them, the "worry-free cloud booking" function serves more than 200 cinema films, which helped the box office to increase by 227% year-on-year.

  Based on AI andTechnical ability, Cat’s Eye Professional Edition has also upgraded the cinema service and promoted the distribution policy of separate lines.And provide exclusive customer portraits, real-time accurate competitive intelligence, one-click application for sub-distribution, etc., to help cinemas and filmmakers choose in both directions and boost box office growth.

  For each business segment, Maoyan Entertainment further clarified the future plans in the announcement.

  In terms of entertainment content services, the company will increase the breadth and depth of participation in the promotion and production of head schedules and head films, optimize the operational efficiency of content business and improve financial performance.

  For online entertainment ticketing service, Maoyan Entertainment plans to increase investment in key performance projects and continuously enhance the infrastructure construction and service capacity of performance business.

  In addition, the company will also develop film IP and drama.Integrate the post-movie box office market, and seek new growth space and possibilities on the basis of business in Hong Kong and Macao.