Chapter 1932： Wendy's movie dream

To be honest, if you purely from the perspective of the bystander, the prospects of Wanda's film are not clear.

Looking at the film industry, the growth rate of screens in the next two years will still be higher than the growth rate of movie viewers. In the background of fierce industry competition, the gross profit margin of Wanda's film projection business is still under pressure, and the leading market share increase logic is difficult to realize in the short term.

Compared with mature cinema chains such as Cinemark and AMC in the United States, there is also limited room for improvement in the theater advertising business and sales business. If it goes well, as long as it develops steadily, there is still a great possibility in the future.

However, the market value of hundreds of billions of dollars advocated at the time is indeed overestimated. "The richest man Wang is fed by trillions of assets in commercial real estate, and the little unicorn in theaters must be fat." "The richest man Wang has bought and bought excellent movies all over the world." Asset injection, the market value of the theater chain is only the beginning", "The theater chain is the only listed company in the mainland capital market of Wang Shoufu. Maybe one day Wanda commercial real estate will be injected into the theater chain, and the market value of trillions is not impossible."...

This series of advocacy is entirely based on the ‘Internet thinking’ that prevailed at the time. This is completely driven by Jack Ma. In fact, not everything can be analyzed and viewed with ‘Internet thinking’.

From the perspective of the Internet, Wanda Movies is essentially an offline traffic portal, and advertising business is a typical traffic monetization method. Isn’t product sales just "e-commerce + self-pickup"? The screening business allows users to pay for "value-added services" ".

The cost of online traffic is getting more and more expensive and more difficult. In a broad sense, the 200 million people who have poured into Wanda’s theaters belong to the “middle class” and have great consumption potential. They use the “magic mirror” of Internet thinking. With a photo, the Wanda Cinema Line immediately became "tall".

However, the biggest feature of the Internet business is that the marginal cost of services is approaching zero, and the cost of providing services to 10 million users or 10.1 million users of portals can be ignored. Unfortunately, the marginal cost of the cinema line has not approached zero at all. Signs, it is impossible to approach zero.

Among the three businesses of Wanda Films, the gross profit margin of the projection business is only 14%, but it is the cornerstone. Unfortunately, the projection business depends on the weather, not only related to economic prosperity and consumer confidence, but also to the quality of the film. , There are not many good films. Whether a popular star has a good work, these factors do not depend on the management and employees of Wanda Films.

Although the advertising and merchandise sales business has a gross profit margin of more than 60%, it is impossible to break away from the growth of the screening business unit. After all, users are not watching advertisements and eating popcorn.

Therefore, Wanda Film does not have the "kinetic energy" for rapid growth. If it expands its revenue through mergers and acquisitions, it will carry a huge debt burden, and its net profit will be negative.

This is why Wanda's film has gradually gone into a downturn after experiencing the glory of the first few years. The retail investors are not stupid. At the beginning, there were investment institutions to support the market, coupled with the advocacy of the media, the retail investors' brains became hot. Investing in money, but after a long time, everyone found that the profit of Wanda Film was not as high as expected.

At this time, a change in a person’s mentality will affect the situation. In addition, investment institutions are making a lot of money to withdraw. The retail investors simply do not have the ability to support the market. Therefore, although Wanda Movies seems to be growing in revenue, But the market value has fallen again and again, and the valuation of more than 30 billion is still not the lowest point.

After all, the film and television winter has not really arrived.

The proposal of the international chapter did not receive positive feedback from Yang Cheng, and she did not know what to do for a while.

At this time, Wendy Deng came up from a distance and put his arms around the shoulders of the international chapter, "Why did you two go here to talk?"

Yang Cheng was about to take the opportunity to get away, "Just chat~"

"Don't run, wait for me to tell you something~" Wendy Deng couldn't see Yang Cheng's careful thoughts.

Yang Cheng smiled, "Okay~"

The international chapter of Zhiqu said goodbye and left, with regret written on his face before leaving.

"Jason, Rupert and I have completely parted ways~"

Yang Cheng was puzzled, thinking that the old woman regretted it, "Don't you have children as a bond?"

"Children? Haha~"

The laughter was very meaningful, Yang Cheng frowned, "What are you going to say?"

"Do you know that I founded a film company with Sloan and the International Chapter many years ago?" Wendy Deng asked.

"I know, but who is Sloan?"

"The wife of President MGM~"

"Oh, I see, that Malaysian Chinese."

"Yes, I have always had a movie dream in my heart. Rupert helped me finish half of it. I hope I can continue writing the other half now~"

Yang Cheng was speechless, thinking for a long time and simply said directly, "You don't have the ability to make movies, I advise you to be a rich wife~"

Wendy Deng is not dissatisfied with Yang Cheng Chi Guoguo’s bad look, "No, people have dreams, you know what the status of Asian Americans or our Chinese Americans, especially our women, I want to do. What, speak for Chinese women struggling in the United States."

Yang Cheng still shook his head, "That said, I am not optimistic about your dreams, but dreams are worthy of encouragement."

"Thank you, what do you think of the movie "Snowflake Secret Fan"?"

Yang Cheng touched her nose awkwardly, "Can I say I haven't seen it?"

"Of course I can. In fact, I invested my greatest ability in this film and summarized relevant experience after the failure. I think I can do better."

Yang Cheng became impatient, "Wendy, I am not Rupert, I have no obligation to support your whimsical imagination~"

"I want you to listen to what I have said, and then make a conclusion~" Wendy Deng said solemnly.

Yang Cheng thought to himself that the conclusion is doomed. Why should I waste time here? Wouldn't it be fragrant to sleep with your daughter-in-law?

But looking at her sincere eyes plus this is the home of others, Yang Cheng is not good at face and not selling.

I can only pinch my nose and say, "Okay, you say~"

"Shall I do it?" Li Lianhua suddenly came over and interrupted.

Yang Cheng was stunned, looking at the woman who was more than 40 years old and still kept her former appearance.

"I'm sorry, I happened to pass by and heard your conversation. For Wendy's dream, I was also one of the participants, so I think it is more appropriate for me~"

Yang Cheng didn't care, Wendy Deng was even more pleased, Li Lianhua said, "I still remember that it was early 2010, it was very cold, and I was busy shooting an advertisement in Daliwan.

Suddenly received a phone call, and a strange voice said quickly and somewhat aggressively: I am Wendy Deng, I have a movie, can you make it? "

After saying this, the two women laughed at the same time. Obviously this past episode made them a little bit unbearable to look back~

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