Not only does it sell popcorn, but the film giant is increasing the size of the milk tea market.
Tianyan check shows that recently, Dalian Wanda Group Co., Ltd. applied for the registration of several “wancha” trademarks. The international classification includes beer and beverage, convenience food, kitchen sanitary ware, etc. at present, the trademark status is waiting for substantive review. It is reported that wancha is a private brand tea drink launched by Wanda Film Holding Co.Ltd(002739) in its studios, including independent stores and integrated stores with Costa coffee.
Wanda is not the only one that crosses the border. In June last year, China Post pharmacy, a pharmaceutical retail business of China Post Group, opened a milk tea shop, post oxygen tea, under the signboard of a store in Fuzhou, Fujian Province. The milk tea market, which has attracted many leading enterprises across the border, is booming. The market scale of new milk tea will reach 113.6 billion yuan in 2020, and some institutions expect it to reach 340 billion yuan in 2025.
targeting 100 billion market
It is worth noting that as early as 2017, Wanda Film Holding Co.Ltd(002739) signed a strategic agreement with Costa to reach an agreement on the establishment of joint brand and in-depth cooperation. In 2020, the cooperation between the two sides will deepen again and launch a new model – wancha and Costa quick selection fusion store. At that time, it was reported that there were more than 70 ten thousand tea shops across the countryP align = “center” source: a comment platform
It is reported that there are two forms of cooperation: 10000 tea stores and sta. In terms of products, wancha is characterized by “self innovation + selected tea source”, covering milk tea, fruit tea, cheese tea, etc. In terms of price, the beverage price of wancha is basically about 19 yuan, and the price of cheese tea, fruit tea and other categories is 26 yuan.
In fact, what really brings high gross profit to Wanda Film Holding Co.Ltd(002739) is the non box office business with popcorn as the core. Taking Wanda Film Holding Co.Ltd(002739) 2021 semi annual report as an example, the company’s viewing revenue is 4.04 billion yuan, accounting for 57.44% of revenue, only 33.36% of profit and 13.38% of gross profit margin; The sales revenue of commodities and catering is 778 million yuan, accounting for only 11.06% of the revenue, 31.67% of the profit, and the gross profit margin is 65.99%.
Wanda Film Holding Co.Ltd(002739) the reason for entering the milk tea market is undoubtedly to see broad market prospects and hope to use its offline traffic advantages to improve non box office revenue.
According to the data, the market scale of China’s tea industry was 410.7 billion yuan in 2020, with a compound growth rate of 9.8% from 2015 to 2020. Among them, new tea began to grow rapidly in 2016, and the market scale reached 113.6 billion yuan in 2020 (the compound growth rate from 2015 to 2020 was 21.9%), which is expected to reach 340 billion yuan in 2025. New tea will become the largest segment of the tea industry. Industry insiders believe that there is still a large development space for the market penetration of new tea.
However, this attractive cake has attracted many players. In recent years, various online black tea brands have sprung up. It is difficult for wancha to stand out from the siege. According to the consulting data of burning knowledge, by the end of 2020, there were about 3400 high-end ready-made tea stores in China, of which about 100 high-end ready-made tea chains operated about 2500 stores nationwide, with a chain rate of 73.53%. The market share of the top five market participants of high-end tea brands is about 58%, and that of Xicha and Naixue is about 46.6%.
seeking new growth points
In the face of the scattered epidemic in many places in China, all film enterprises are facing great business pressure, and Wanda Film Holding Co.Ltd(002739) is no exceptionP align = “center” screenshot of Lighthouse Professional Edition: box office revenue of head shadow investment enterprises in March
The two data of this year and the same period last year intuitively reflect the current operating difficulties of cinemas. According to the data of Lighthouse professional edition, Wanda Film Holding Co.Ltd(002739) the box office of China in March this year was only 175 million yuan, only half of that in the same period last year. In the face of the above situation, Wanda Film Holding Co.Ltd(002739) in addition to strengthening the two basic sectors of cinema and content, it began to focus on creating new growth points.
Taking the Spring Festival file as an example, Wanda Film Holding Co.Ltd(002739) during the year of the tiger series plush dolls, fat tiger series blind boxes, such as a tiger’s wings key chain and other commodities were launched. At present, the company’s derivatives are mainly divided into four series, namely film and television animation series, national style and national ware series, large country heavy ware series and trend hand-made series. The company will also summarize the experience of the Spring Festival, continue to increase commodity research and development, explore more innovative commodity sales in cinemas, and continuously improve the sales revenue.
Script killing has also become an expansion option Wanda Film Holding Co.Ltd(002739) in February this year, the company introduced in the institutional research that this year, the company will carry out the whole industry chain from content creation, distribution and channel. Wanda film and television will kill and cooperate with IP authorized scripts, and the cinemas will operate through self-supporting, joint venture and other modes. The company will also continue to promote the expansion of multi-functional cinemas. In the future, the company hopes to upgrade Wanda cinema into a small comprehensive entertainment body and increase revenue through innovation.
