Chinese movie-ticketing leader Maoyan to boost film investment

by   |  VIEW 225
Chinese movie-ticketing leader Maoyan to boost film investment

On Wednesday, the 10th of July 2019, China’s leading movie ticketing platform, Maoyan Entertainment, headquartered in Beijing, said that the company had been seeking to bolster its investment in China’s domestic film industry and deepen its tie-up with a smaller Alibaba rival, Tencent Holdings Ltd., a Chinese e-commerce platform, as Maoyan had been working on a way around to cover its losses in cinema-ticket businesses.

In point of fact, latest comments of Maoyan came forth after this year’s box office revenues failed to reach last year’s figure, however, no exact figures had not been released so far.

In actuality, in order to reverse this downswing trend of its movie-ticketing business, Maoyan had been seeking to enrich investments on its domestic movie businesses, Maoyan Chief Executive Zheng Zhihao said to the reporters.

Adding cautions over the company’s revenue curve this year, Zheng said in a recent interview, “Whether the full-year revenue will be in line with that of last year or even exceed, it remains to be seen,” however, financial markets remain riant over latest Maoyan comments of heightening investments in its domestic movie ticketing business, as the Hong Kong-listed Maoyan had been 12.36 percent on Tuesday’s (July 9th) market closure.