×

China’s Bona Film Returns To Profit

HONG KONG — NASDAQ-listed Chinese studio Bona Film Group returned to profits in 2013 with net income of $5.7 million, compared to a loss of $1.3 million.

The bounce back came as full year net revenues edged ahead from $142 million in 2012 to $149 million.

Bona released 14 films last year including “The White Storm” (pictured), and earned approximately RMB1.3 billion of gross box office, or 10% of China’s national total for domestic films.

Already in 2014 it has released import “The Mortal Instruments: City of Bones” and HK-Chinese co-production “The Man From Macau,” which was released at Chinese New Year and has grossed over RMB500 million.

For the current year the company has applied to handle revenue-sharing releases of quota import films “Pompeii,” and “Nonstop.”

Group COO Jeffrey Chan said that Bona had restructured its domestic distribution operations at the end of 2013, with the addition of three new regional offices in North East, Central and South Eastern China. “This will enable us to eliminate some of the blind spots in our coverage, enable us to operate better in increasingly important second and third tier cities and leverage our network of theaters,” he said.

“We are pleased with the progress we made in our theater segment in 2013 as our greenfield theaters matured and delivered solid results,” said Bona’s founder, chairman and CEO Yu Dong. By the end of 2014 Bona operated 22 owned multiplexes, with a total of 182 screens. Yu said that they delivered a 47% growth in revenue and that he expects to open a further 6 to 8 new complexes.

Upcoming films added to the production slate include “Sword Master” to be directed by Derek Yee and produced by Tsui Hark. It will be presented as a 3D theatrical movie and as a TV series.

Guidance for the first quarter of 2014 pointed to non-GAAP net profits of US1-$1.5 million.

More Biz

  • Fourward

    Management Company Fourward Taps Christopher Burbidge as Head of Talent Division

    Will Ward’s management company Fourward has promoted long-time colleague Christopher Burbidge to head the company’s rapidly growing talent division, while also promoting Brooke Blann to manager in the company’s music division. Both Blann and Burbidge are based in the company’s Los Angeles office and will continue to report directly to Ward. Burbidge works closely on [...]

  • Writers vs Agents Packaging War WGA

    Kaplan Stahler Agency Signs Modified Code of Conduct in Win for WGA

    Kaplan Stahler has become the latest agency to sign the Writers Guild of America’s (WGA) modified code of conduct in a win for the Guild. In a message sent out to WGA members today, the negotiating committee wrote that the agreement with Kaplan Stahler “bans packaging fees and agency-affiliated production companies and, through information-sharing, makes [...]

  • London's CODA Agency Formally Becomes a

    Paradigm Agency Formally Absorbs London's CODA Into the Fold

    After five years of working together, London’s CODA Agency has formally become a part of Paradigm and will continue under its U.S. partner’s banner. The London office of what is now a fully integrated Paradigm will continue to be led by Alex Hardee, Tom Schroeder, James Whitting and Dave Hallybone. In a statement otherwise laden [...]

  • WGA Agents Dispute Placeholder

    Agencies Seek to Hold Key Court Hearing Before WGA Elections

    The four major agencies asked a court on Monday to expedite a key hearing in the Writers Guild of America lawsuit, as the agencies seek to have portions of the case thrown out before the WGA’s internal elections in September. The WGA and the unions are still waging a legal and public relations battle over [...]

  • Sonja Plack Cocaine Possession

    'The Chi' Actress Sonja Sohn Arrested on Cocaine Possession Charge

    Sonja Sohn, the actress who appears on “The Chi,” was arrested over the weekend in North Carolina on a charge of cocaine possession. Sohn, best known for portraying Det. Kima Greggs on “The Wire,” was booked and released from the Dare County Detention Center in Manteo, N.C., according to a statement from the Dare County [...]

  • Roc Nation Label Names Shari Bryant

    Roc Nation Label Names Shari Bryant and Omar Grant Co-Presidents

    Roc Nation has named Shari Bryant and Omar Grant co-presidents of the Roc Nation Label, the company announced today. The two will lead the Roc Nation team to develop strategies for signed artists while continuing to build the talent roster, according to the announcement. “There is no better way to celebrate my 20th anniversary in the [...]

  • Bert Salke and Jennifer Salke

    Feds Looked Into Amazon Studios Chief Jennifer Salke in College Admissions Scandal

    Federal investigators looked into Amazon Studios chief Jennifer Salke and her husband, Fox 21 Television Studios president Bert Salke, as they conducted a sprawling probe of cheating in elite college admissions, a source close to the case told Variety. It does not appear, however, that prosecutors will charge the Salkes in the case. The Salkes [...]

More From Our Brands

Access exclusive content