Alibaba Pictures Releases 2024 Annual Performance Strong Growth in Revenue and Profit
TapTechNews May 30 news, on May 29, Alibaba Pictures Group Limited released the full-year performance announcement for the fiscal year ending March 31, 2024.
The announcement showed that within the reporting period, Alibaba Pictures' revenue was 5.036 billion yuan (approx. $720 million), an increase of 44% year-on-year. The adjusted EBITA was 504 million yuan (approx. $72 million), an increase of 61% year-on-year, and the net profit attributable to the company's owners was 285 million yuan (approx. $41 million), achieving a turnaround from loss to profit.
During the reporting period, Alibaba Pictures' revenue from film investment, production and distribution was approximately 2.072 billion yuan (approx. $300 million), an increase of 69% year-on-year; the revenue from film ticketing and technology platforms was approximately 920 million yuan (approx. $132 million), an increase of 76% year-on-year; and the revenue from IP derivatives and innovative businesses was approximately 1.053 billion yuan (approx. $150 million), an increase of 9% year-on-year.
In the field of film investment, production and distribution, the company participated in the production and distribution of more than 60 films, with nearly 30 main distribution projects and 6 self-produced and co-produced projects. The box office of its projects accounted for more than 60% of the total box office, and 15 films entered the top 20 of the same period, and the number of reserved films exceeded 80.
TapTechNews attaches the main film projects that have been released by Alibaba Pictures during the reporting period:
Desperate Move: Box office 3.85 billion yuan (approx. $550 million), co-produced
Missing She: Box office 3.52 billion yuan (approx. $500 million), co-produced, main distributed
Scorching Hot: Box office 3.46 billion yuan (approx. $500 million), main produced, distributed
Speedster 2: Box office 3.39 billion yuan (approx. $500 million), jointly produced, jointly distributed
Boonie Bears: Reverse Time: Box office 1.99 billion yuan (approx. $285 million), jointly produced, jointly distributed
Chang'an Three Hundred Miles: Box office 1.83 billion yuan (approx. $260 million), jointly produced, main distributed
Life Is a Journey: Box office 1.18 billion yuan (approx. $170 million), jointly produced, jointly distributed
Ex-Files 4: Prematurely Wed: Box office 1.01 billion yuan (approx. $145 million), main produced, main distributed
Bolster Spirits: Box office 910 million yuan (approx. $130 million), jointly produced, jointly distributed
Kings of the Sky: Box office 850 million yuan (approx. $120 million), co-produced, main distributed
Team Three: Box office 710 million yuan (approx. $100 million), jointly produced, main distributed
Zhou Chu Conquers the Three Evils: Box office 670 million yuan (approx. $95 million), bought out, main distributed