On January 1, according to the data released by the state film administration, the total box office of national films reached 47.258 billion yuan in 2021, and the total number of film viewers in urban cinemas was 1.167 billion. Among them, the box office of domestic films was 39.927 billion yuan, accounting for 84.49% of the total box office; 6667 new screens were added throughout the year, and the total number of screens reached 82248. The total box office and total number of screens continued to rank first in the world.
Lighthouse Research Institute and lighthouse professional jointly released the 2021 China Film Co.Ltd(600977) market annual report, which pointed out that in 2021, the total box office of films returned to 74% before the epidemic, with 697 films released, a record high.
Although affected by the local outbreak of the epidemic, the film market still made brilliant achievements last year, with the frequent emergence of popular domestic blockbusters, and the continued recovery of the film market, greatly increasing market confidence.
According to the research report, the film industry is gradually recovering from the impact of the epidemic, and it is predicted that the box office will reach 58.4 billion yuan in 222.
domestic films have made outstanding achievements
From the perspective of the whole year of 2021, the head burst single film has made a great contribution to the total box office, the “waist” film is missing, and the development of domestic blockbusters is still rapid.
In 2021, popular domestic films appeared frequently. The main melody blockbuster “Changjin Lake” broke the box office record in film history, with a box office of 5.772 billion yuan and reached the top; The box office dark horse Hello, Li Huanying made a box office of 5.414 billion yuan, ranking second in the year; Chinatown detective 3 made a box office of 4.524 billion yuan, ranking third in the year.
Source: Lighthouse professional 2021 China Film Co.Ltd(600977) Market Annual Report
It is worth noting that the above three films earned a total box office of 15.7 billion yuan, exceeding the total box office in 2011, accounting for 33% of the total box office in 2021, with a significant head effect. However, the “waist” film of RMB 2 billion-3 billion is missing. For example, “me and my parents” ranked fourth in the box office of the whole year, with only a box office of RMB 1.477 billion. Industry insiders believe that behind the lack of “waist” film is the obvious polarization of film content, and the audience’s viewing habits focus on the head film.
In addition, the box office of domestic films in 2021 was 39.927 billion yuan, accounting for 84.49% of the total box office. The proportion of domestic film box office increased significantly compared with previous years. Up to now, the top five in China’s film history ticket room are domestic films.
At the same time, the number of imported films and box office volume decreased last year. According to the data of Lighthouse professional edition, in the past five years, the box office of imported films exceeded RMB 20 billion for three consecutive years from 2016 to 2019. In 2020, due to the sudden drop of 84%, only RMB 3.95 billion was obtained, and the number of films released decreased from more than 100 to 62. In 2021, when the film market recovered well, only 70 imported films were released, with a box office of RMB 9.53 billion, accounting for 20% of the total ticket rooms, Less than half of 2016.
uneven cold and heat in the schedule
In 2021, the Spring Festival, Qingming and may day broke box office records one after another, ushering in the strongest Spring Festival and the second strongest national day in history, with a total box office of 7.842 billion yuan and 4.388 billion yuan respectively. But at the same time, there are more and more cold schedules, especially the traditional large schedules such as summer and mid autumn.
According to the data, the box office of the 92 day summer vacation in 2021 was 7.38 billion yuan, far less than 12.41 billion yuan in 2016, 16.36 billion yuan in 2017, 17.38 billion yuan in 2018 and 17.78 billion yuan in 2019.
The reason is that the global “film shortage” under the background of the epidemic situation, the supply of high-quality head films is insufficient, and some films are withdrawn.
In 2021, the total box office of films in the whole year reached 47.258 billion yuan, a year-on-year increase of 132%. The total number of film viewers in urban cinemas in the whole year was 1.167 billion, and the average ticket price reached 40.49 yuan, 3.49 yuan higher than that in 2020.
According to the 2021 China Film Co.Ltd(600977) market annual report jointly released by the lighthouse Research Institute and the lighthouse professional edition, the average ticket price of films has increased by 7.2 yuan in recent five years, of which the increase in the fourth tier cities is obvious. The average ticket price in 2021 reached 38.3 yuan, an increase of 8.5 yuan in recent five years. Affected by the epidemic, the annual average attendance rate also decreased from 14% in 2016 to 8%. The average attendance rate of all line cities converged, and the average attendance rate of first tier cities decreased the most, up to 10%.
Source: Lighthouse professional 2021 China Film Co.Ltd(600977) Market Annual Report
benefits of relevant listed companies
Relevant listed companies have achieved considerable profits by borrowing explosive films.
The top three films in the box office in 2021 are Changjin lake, Hello, Li Huanying and Chinatown detective 3.
Among them, “Changjin Lake” broke 31 film history records, not only won the box office champion in Chinese film history, but also reflected the strong recovery of the China Film Co.Ltd(600977) industry with the annual global single regional market champion. “Changjin Lake” is mainly produced by Bona film, China Film Co.Ltd(600977) and Ali film are also important producers.
Hello, Li Huanying is mainly produced by Beijing Jingxi Culture&Tourism Co.Ltd(000802) (Beijing Culture), and Ali pictures, China Film Co.Ltd(600977) , Huayi Brothers Media Corporation(300027) are also important producers. Chinatown detective 3 is produced by Wanda Film Holding Co.Ltd(002739) , China Film Co.Ltd(600977) .
Zheshang Securities Co.Ltd(601878) according to the research report, in 2022, there will be sufficient reserves of overseas and domestic films, and the supply will be repaired. The overall box office performance is expected to continue to be repaired. In addition, some small and medium-sized cinemas will be cleared during the epidemic period, and the competition pattern is expected to improve.
China International Capital Corporation Limited(601995) the research report believes that the film industry is gradually recovering from the impact of the epidemic, continuously improving efficiency and quality, and entering a benign development stage driven by quality. It is expected that the box office of the film industry, including service fees, will be 58.4 billion yuan in 2022, and the cost structure and supply and demand pattern of the drama industry are expected to be further improved. With the prominent value of high-quality content, The market share of high-quality content producers and head channels is expected to continue to increase.
(China Securities Journal)
