China’s Bona Returns to Growth

Q3 profits and revenues boosted by distribution, exhibition

HONG KONG – Profits and revenues were up in the third quarter for China’s Bona Film Group, reversing a dip at the half year. The gain was driven by growing distribution revenues and the company’s expanded exhibition interests.

Revenues in the July-Sept. 2013 period were $35 million compared with $24.6 million in the same quarter last year. Net income was $2.8 million compared to $1.3 million.

The NASDAQ-listed company, which counts 21st Century Fox as a 19.9% owner, released three films in the quarter, “Unbeatable,” (pictured) “My Lucky Star” and “Out of Inferno 3D,” and will release “Red 2” today. Gross profits from distribution were $6.2 million, a figure now overtaken by the theater sector, which delivered $8.7 million.

“The outlook for 2014 is even better as we have many strong titles in our distribution and development pipelines, the financial resources to bring more quality films to market and plans to further expand our theater network,” the company said in a statement.

The company revealed that the releases of two films have been pushed back into the first quarter of 2014 — “The White Haired Witch” and “Overheard 3.” “Mortal Instruments: City of Bones” will be released on Dec. 31, meaning that revenue will also fall into next year’s results.

Popular on Variety

More Biz

  • RihannaFenty Beauty By Rihanna Launch, Madrid,

    Rihanna's Diamond Ball Will Honor Activist Shaun King, Barbados Prime Minister Mia Mottley

    Barbados Prime Minister Mia Mottley and civil rights activist Shaun King will receive this year’s Diamond Ball Award at Rihanna’s fifth annual Diamond Ball, which will also feature performances from Pharrell and DJ Khaled. “I can’t imagine a better night than this year’s Clara Lionel Foundation event with Seth Meyers, Pharrell and DJ Khaled,” said [...]

  • Rules Don't Apply

    Warren Beatty and Arnon Milchan Settle Suit Over 'Rules Don't Apply' Flop

    Arnon Milchan and Warren Beatty have settled their two-year legal battle over the disastrous release of “Rules Don’t Apply,” Beatty’s period drama about Howard Hughes. Milchan’s attorneys have filed a notice with the court dismissing his suit against Beatty. Terms of the settlement were not disclosed. Milchan’s company, New Regency, sued Beatty and other investors [...]

  • A Quiet Place

    Why Dynamic Pricing for Movie Tickets Could Be a Tough Sell

    People aren’t going to the movies as much this summer. Are they staying away because the films are duds, or is it because tickets are getting too expensive? AMC is making a bet that cost, not quality, is behind the recent downturn. Last week, the country’s largest exhibitor announced it will be testing a new [...]

  • Yara Shahidi

    Audible Teams Up With Big Names as Audio-Only Storytelling Expands

    Hobnobbing with the likes of Reese Witherspoon, Kate McKinnon and Yara Shahidi isn’t typically the gloss applied to the cerebral audiobook set, but Audible is putting the humble audio story through its own movie-makeover montage, inking high-profile development deals with entertainment names like “The Walking Dead” comics creator Skybound Entertainment, Witherspoon’s Hello Sunshine and Lorne [...]

  • Warner Records Names Claudia Butzky Senior

    Warner Records Names Claudia Butzky Senior VP of Brand Partnerships

    Warner Records has named Claudia Butzky senior vice president of brand partnerships, strategic marketing & commercial sync licensing, the company announced today. Based in Los Angeles, Butzky will report to Tom Corson, Co-Chairman & COO, Warner Records, and essentially will fill the role vacated by former EVP Lori Feldman, who left the company earlier this [...]

More From Our Brands

Access exclusive content