“Our content company is now overly dependent on the box office, and (in 2019) the box office is only over 60 billion, and some foreign films have to take away. How much can we share in China? But tens of billions of production are invested in a year Expenses cannot make ends meet.”

On June 12, at the China Film Industry Summit Forum of the Shanghai Film Festival, Wang Changtian, Chairman of Enlight Media (300251) pointed out the pain points of the film industry. .

At the 4th China Film and Television Capital Summit the day before, Wang Changtian talked about the phenomenon of “triangular debt” in the film and television industry—the theater owes money to the issuing company and issues The company owes money to the production company, the production company owes money to each other, and the production company owes money to the creators. “Such a chain phenomenon is very serious.”

At the event on the 12th, Wang Changtian further explained this. “Triangular debt is a common phenomenon. In the industry, only a few companies do not owe money to others, but are owed by others, and most companies owe each other money. The root cause of this is the issue of the efficiency of the entire industry. Others invest in you. Whether you borrow money, in order to maintain the start of this project, you have to embezzle other people’s money, and so on. This phenomenon has caused a triangle debt phenomenon, a very serious phenomenon, which has caused many companies to fail to operate.”
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