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1、 IBISWorld and ACMR China Industry Report 13 November 2009 Cinemas in China: 8932 DISCLAIMER This product has been supplied by IBISWorld Inc. (IBISWorld) solely for use by its authorized licenses strictly in accordance with their license agreements with IBISWorld. IBISWorld and All China Marketing R
2、esearch Co., Ltd. (ACMR) makes no representation to any person with regard to the completeness or accuracy of the data or information contained herein, and it accepts no responsibility and disclaims all liability (save for liability which cannot be lawfully disclaimed) for loss or damage whatsoever
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4、ot to copy the material contained within it for other than the purchasers own purposes. In the event that the purchaser uses or quotes from the material in this publication - in papers, reports, or opinions prepared for any other person - it is agreed that it will be sourced to IBISWorld Inc. Conten
5、ts Industry Definition 3 ACTIVITIES (PRODUCTS AND SERVICES)3 SIMILAR INDUSTRIES3 DEMAND drafting relevant laws and regulations and supervising the implementation; (2) Examining and approving the establishment of companies that are engaged in the production of films, television and radio programs; (3
6、) Supervising the screening of films and the broadcasting of television and radio programs; examining film content and quality; (4) Drafting related technical standards and providing technical guidance for companies; (5) Managing import and export activities of films, television and radio programs;
7、and, (6) In addition to SARFT, cinemas are also subject to supervision of local film departments that administrate film- screening activities. Key Regulations INDUSTRY CONDITIONS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 17 Movie Rules M
8、anagement was issued in 2001 and implemented officially in 2002. The regulation stipulates the establishment requirements of companies in film-making, release and screening activities. Films should be examined by the relevant departments and the quality of films has to comply with the technical stan
9、dards. Films with “License for Public Projection of Films“ can be screened in cinemas. Tentative Provisions on Foreign Investment in Cinemas was implemented in 2004. According to this regulation, foreign companies are not permitted to establish wholly-owned cinemas in China, and cannot set-up cinema
10、 chains. The largest share of foreign investors in a joint venture cinema is 49%. In seven cities, including Beijing, Shanghai, Guangzhou, Chengdu, Xian, Wuhan and Nanjing, foreign investors can hold a maximum share of 75%. COST STRUCTURE Year: 2009 Item Cost % Purchases 50.8%* Depreciation 7.9%* Ta
11、x and Interest 7.7%* Wages 6.0%* Utilities 3.6%* Rent 2.2%* Management and Administration 1.8%* Other 6.5%* Profit 13.5%* Profits are estimated to make up about 13.5% of industry revenue in 2009, which is higher compared with many other industries in China. In addition to film-screening, sales of sn
12、acks and drinks to customers is also an important profit source. The industry has a high proportion of purchase costs, estimated to be about 50.8% of industry revenue in 2009. This cost includes the purchasing of screening facilities and the screening rights of films. Wage costs accounted for about
13、6% of industry revenue in 2009, plus management and administration expenses of 1.8%. Many cinemas have implemented computerized ticketing systems, which improves the automation level of this industry. The share of wages in total industry revenue is expected to decrease in the future due to higher au
14、tomation levels and the same number of staff required to service more customers. Equipment to show movies is costly and facilities for film-screening require constant maintenance and upgrading. Therefore, the industry has a relatively high depreciation level at 7.9% of industry revenue in 2009. INDU
15、STRY CONDITIONS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 18 Costs regarding utilities and rent were estimated to account for 3.6% and 2.2% of industry revenue, respectively, in 2009. Other costs in the industry include marketing costs,
16、insurance, and miscellaneous expenses, at about 6.5% of industry revenue in 2009. CAPITAL AND LABOR INTENSITY The level of Capital Intensity is high Substantial capital is required to purchase film-screening rights and equipment Increasing automation levels reduce employee numbers The labor to capit
17、al cost ratio represents the number of labor units used for every unit of capital. ACMR-IBISWorld uses total wages of the industry as a proxy for labor costs, and total depreciation of the current year as a proxy for capital. With a labor to capital cost ratio of about 1:1, this industry is subject
18、to a high level of capital intensity. Expenses for the purchase of film-screening rights and film-screening facilities are a significant cost item for cinemas in China. In recent years, new advanced facilities are utilized continuously, and companies have to upgrade their facilities to attract and m
19、aintain customers. Further, more computer systems have been used in the industry in recent years, such as the “Computer Ticketing System“, which has significantly improved efficiency. However, small companies in the industry are not able to afford advanced systems, which has lowered the overall auto
20、mation level of the industry. Employee numbers experienced steady increases in recent years, due to growth in the industrys establishment numbers. In 2009, there are expected to be almost 27,000 employees in the industry with total wages of $43.8 million, accounting for 6% of industry revenue. The i
21、ndividual wage level of the industry was low at about $136 per month during 2009. The level of capital intensity within the industry is expected to increase in the future, as increasing automation levels will result in decreases in employee numbers. TECHNOLOGY AND SYSTEMS The level of Technology Cha
22、nge is high Technology and systems outline the level of technology change of this industry. The Cinemas industry in China has experienced a high level of technology change in recent years. These technology changes include computerized ticketing systems, digital technologies, and manufacturing techno
23、logies. Computer Ticketing Systems are now being utilized by most large companies in this industry. This automated system has meant that fewer people need to be employed to sell a greater number of tickets. The efficiency of ticket-selling processes has therefore improved significantly. Digital tech
24、nology has significantly promoted the industrys development. In 2005, there were only 52 digital films produced in China, by 2008 this figure had increased to 260. The number of digital cinemas also increased in recent years. Digital film is becoming a major format for films in cinemas due to the hi
25、gh screening quality and lower operation costs. INDUSTRY CONDITIONS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 19 Manufacturing technologies of equipment used in cinemas has improved in recent years. Such technologies include film- screen
26、ing equipment and audio facilities, which have developed rapidly in China in recent years. Cinemas in China are embracing advanced equipment to gain a competitive edge and attract customers. INDUSTRY VOLATILITY The level of volatility is medium Industry revenue volatility was at a medium level in th
27、e five years to 2009. Steady increases in cinema patrons and pricing levels resulted in high, but steady, revenue growth each year. The global financial crisis is expected to have a minimal impact on industry revenue growth in 2009, with revenue increasing by 18.6% than 2008. In future years, indust
28、ry revenue volatility is forecast to be low as the industry matures and cinema customer numbers increase at a steady pace. GLOBALIZATION The level of Globalization is low The trend of Globalization is increasing Globalization identifies the extent to which the industry operates on a global scale. Th
29、e level of globalization in the Cinemas Industry in China is low, and is expected to increase over time. Before 2003, there were strict restrictions on the ownership of cinemas invested by foreign enterprises in this industry. Foreign investment could only enter the Chinese market by establishing jo
30、int ventures with less than 49% of shares. However, the restrictions have been gradually relaxed since 2004. Foreign investors in seven cities, including Shanghai, Beijing, Guangzhou, Chengdu, Xian, Wuhan and Nanjing, can now hold a maximum of 75% of shares in joint ventures. Wholly-owned foreign ci
31、nemas are still not permitted to operate in China. Currently few domestic companies in this industry operate in foreign markets. This is mainly ascribed to the technology shortage as well as the relatively saturated markets in foreign countries. ACMR-IBISWorld forecasts that domestic enterprises wil
32、l continue to dominate the industry in the near future. The globalization level, however, is expected to increase, as more foreign companies will enter the Chinese market due to the large potential demand. KEY FACTORS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Market
33、ing Research Co., Ltd. 20 Key Factors KEY SENSITIVITIES The key sensitivities affecting the performance of the Cinemas industry include: Household Disposable Income Increasing household disposable income levels stimulate demand for film-screening services. Leisure and Recreational Activity Levels -
34、Expenditure High expenditure levels on leisure and recreational activities have positive impacts on cinemas by increasing the number of potential consumers. Systems and Technology Technology development in recent years has improved film quality significantly. In addition, the adoption of more advanc
35、ed film-screening equipment also promotes the development of the industry. The Leisure Market - China CD and DVD Sales A large number of people in China purchase DVDs to watch movies at home. Increasing DVD sales may undermine demand for film-screening services. Upstream Supplying Industries The dev
36、elopment of upstream industries, such as the film-making industry and the film-screening equipment manufacturing industry, will have a positive impact on the industry by improving film quality and film-screening effects. KEY SUCCESS FACTORS The key success factors in the Cinemas industry are: Effect
37、ive product promotion Cinemas can attract potential consumers and increase revenue with effective promotional activities. Ability to control total supply on market Companies that control film-releasing activities will gain advantages in screening films as distribution costs are reduced. Provision of
38、 a related range of goods/services (“one stop shop“) In addition to film-screening services, many cinemas in China provide food retailing services. Cinemas without these services will be less competitive in attracting consumers. Economies of scale Larger-scale companies generally have an advantage o
39、ver their competitors as branch cinemas can arrange screening schedules to reduce costs, and higher lower average administration and management costs. KEY FACTORS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 21 Proximity to transport People
40、 tend to consider transportation issues before they decide to go to cinemas. Location therefore plays an important role in industry demand. Carrying out all necessary maintenance to keep facilities in good condition Screening facilities are part of the main assets in cinemas. Keeping them in good co
41、ndition by frequent maintenance and upgrading is therefore necessary. KEY COMPETITORS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 22 Key Competitors MAJOR PLAYERS Market Share Major Player Market Share Range Dalian Wanda Group 8.7% (2009)
42、China Film Stellar Film Chain Co., Ltd. 7.3% (2009) Shanghai Film Group Corporation 6.1% (2009) Shenzhen China Film South Cinema Circuit Co., Ltd. 5.3% (2009) Beijing New Film Association Co., Ltd. 5.1% (2009) Other 67.5% (2009) PLAYER PERFORMANCE Dalian Wanda Group Market Share: 8.7% Established in
43、 1988, Dalian Wanda Group (Wanda Group) has become a large-scale private company involved in businesses such as real estate, hotels, cinemas and department stores. Sales revenue of Wanda Group reached $2.63 billion with total assets of $3.95 billion in 2007. The main subsidiary of Wanda Group operat
44、ing within this industry is Wanda Cinema Line Co., Ltd., which was established in 2004. Wanda Cinema Line has invested in large-scale cinemas in many cities since its establishment. In 2007, the company had 44 cinemas in 21 cities around China. Cinemas established by Wanda Cinema Line generally have
45、 more than one cinema for screening different films simultaneously giving patrons more choices. Wanda Cinema Line also brought in the most advanced equipment from Italy, the US and Germany to equip its cinemas, which gave the company a competitive edge. Wanda Cinema Line screens over 150 films annua
46、lly, attracting audiences of 24.5 million each year. In 2008, Wanda (Beijing) had the highest box office takings in Beijing. China Film Stellar Film Chain Co., Ltd. Market Share: 7.3% China Film Stellar Film Chain Co., Ltd. (CFSF) was founded in 2002 by China Film Group (CFG) and Stellar Media Co.,
47、Ltd. CFSF has experienced rapid development since its establishment. The company began with 23 cinemas and by 2008, it owned 107. KEY COMPETITORS Cinemas in China 13 November 2009 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 23 In 2006, CFSF was engaged in upgrading its man
48、agement system and invested in ERP (Enterprise Resource Planning) systems. These improved the companys efficiency significantly. China Film Group became the largest shareholder of CFSF during 2007. CFG is the largest film-releasing company in China, and also monopolizes the foreign film import marke
49、t. As the only subsidiary of CFG in the film-screening business, CFSF has a competitive advantage in sourcing films. Shanghai Film Group Corporation Market Share: 6.1% Shanghai Film Group Corporation (SFG) was established in 2001 through the merger of Shanghai Film Studio, Shanghai Animation Film Studio, Shanghai Dubbing Studio, Shanghai Documentary Film Studio, as well as Shanghai Film Technology Plant, all of which are well-known film-making enterprises in China. Currently SFG is mainly engaged in film making, releasing and screening. It h
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