Wanda's new growth pole has gradually formed a cultural industry that generated 29 billion yuan in revenue in the first half of the year

Wanda Group today released its first-half performance report. As of June 30, Wanda Group's revenue was 119.93 billion yuan, a year-on-year increase of 10.6%. Among them, Wanda Culture Group's revenue reached 29.03 billion yuan, completing 105.7% of the plan for the first half of the year, a significant year-on-year increase of 57.1%.

Original title: Wanda's "new growth pole" is beginning to emerge. The cultural industry generated 29 billion yuan in revenue in the first half

of the year. Wanda Group today released its first-half results report. As of June 30, Wanda Group's revenue was 119.93 billion yuan, a year-on-year increase of 10.6%. Among them, Wanda Culture Group's revenue reached 29.03 billion yuan, completing 105.7% of the plan for the first half of the year, a significant year-on-year increase of 57.1%. Wang Jianlin's frequent appointments in the fields of film and television, tourism, sports, and children's entertainment in recent years have made the cultural industry a "new growth pole" for Wanda Group.

Cultural industry revenue multi-round drive

reviews Wanda Culture Group's development trajectory in the first half of the year. Developing the domestic market and accelerating overseas mergers and acquisitions go hand in hand, constituting the dual engines for the accelerated layout of the cultural industry.

On January 12, Wanda Group announced that it would acquire Legendary Pictures of the United States for no more than US$3.5 billion in cash (approximately RMB 23 billion). This overseas acquisition has become by far the largest cultural acquisition by a China company overseas.

The synergy effect soon emerged. As the first major film launched globally after the acquisition,"Warcraft" exceeded 1 billion yuan in domestic box office in five days after its release, bearing the responsibility of the "rise" of Legendary Pictures.

Wanda Group's operating briefing shows that the film and television holding company's revenue in the first half of the year was 19.09 billion yuan, completing 47.3% of the annual plan, and completing 105.6% of the first-half plan, a year-on-year increase of 43.1%.

Looking forward to the second half of the year, with the successive release of Hollywood big-budget films such as "Teenage Ninja Turtles 2: Breaking Out of the Shadow","Wolverine 3","Pacific Rim 2", and "The Great Wall", Wanda Film and Television's ability to generate revenue has triggered unlimited market reverie.

In addition, as Legendary Pictures and Wanda Cinema Lines have been successively integrated into the entire industry chain, Wanda's film and television ecosystem from upstream production and publicity to downstream theaters and derivatives has been further improved, and the huge benefits brought by the synergy will also gradually appear.

The opening of Nanchang Wanda City was another major move of Wanda Culture in the first half of the year. On May 28, Wanda Group's first ultra-large cultural, tourism and business comprehensive project named after "Wanda City" opened in Nanchang, Jiangxi, with a total investment of 40 billion yuan.

As a secret weapon to counter Disney, the Wanda Cultural Tourism Project will have more than ten projects across the country. Among them, Changbai Mountain Resort, Wuhan Central Cultural District, Xishuangbanna Resort and Nanchang Wanda City have been officially opened, and the rest are under construction. Wanda Tourism Holding Company's revenue in the first half of the year reached 6.03 billion yuan, completing 106.8% of the plan for the first half of the year, a year-on-year increase of 32.6%.

In the fields of sports and children's entertainment, Wanda Group also takes frequent actions. In the first half of the year, Wanda Sports reached strategic cooperation with FIFA and FIBA respectively, continuously gaining core resources from important international sports and seeking to develop new IP events in Asia and China.

Wang Jianlin previously revealed that in July, Wanda Sports will also announce one or two major international events that will be settled in China. Wanda Sports strives to settle in 5 to 6 major international events in China in 2016.

Data shows that Sports Holding Company's revenue in the first half of the year was 3.39 billion yuan, completing 104.8% of the plan for the first half of the year; Children's Entertainment Company's revenue in the first half of the year was 290 million yuan, completing 105.2% of the plan for the first half of the year, a year-on-year increase of 576%.

Wanda's new growth pole has gradually formed in

several fields and blossomed at multiple points, and the cultural industry has become the "leading force" in Wanda's structural transformation. According to statistics, in the first half of the year, Wanda Culture Group's revenue accounted for 24.2% of Wanda Group's total revenue, which has become an important breakthrough for the group to maintain rapid growth.

Compared with other business formats, Wanda's cultural industry has maintained stable and rapid growth. Data shows that in the three years since its establishment, Wanda Culture Group's annual revenue has increased by the order of 10 billion. In 2015, Wanda Culture Group's revenue was the sum of the second to tenth in the industry.

In fact, the actions of any sector in the cultural industry are not carried out individually. In Wang Jianlin's vision, every investment and merger is a bargaining chip for building the Wanda cultural industry ecosystem, allowing its film and television, sports, tourism and other industries to form a linkage development effect.

Taking the acquisition of Legendary Pictures as an example, the IP resources obtained by Wanda Film and Television will help the coordinated development of multiple business formats such as Wanda City and Children's Park, and help Wanda create a theme park that will resonate more with consumers.

Wang Jianlin had previously publicly explained investment in the sports industry,"On the surface, I am buying the sports industry. In fact, from a deeper perspective, we want to make tourism and other related industries bigger through the sports industry."

It is worth noting that Wanda's ambitions for the cultural industry do not only stop at home, but also complete cultural export overseas is on the 2016 work schedule.

In the 10,000-word report publicly published by Wang Jianlin earlier this year, he clearly stated that Wanda Cultural Tourism City should be settled in one or two developed countries in 2016."This is the first time that China has exported major cultural products to developed countries, and it is a major breakthrough for China's cultural industry. Except for Disney in the United States, no other country's major cultural products can be exported to the world. The Wanda City brand must surpass Disney and travel all over the world. Moreover, Wanda will never apply the style of play in China when it goes to any country. It must reflect the cultural characteristics of that country in which it goes."

By 2020, Cultural Group will achieve revenue of 150 billion yuan and net profit of 12 billion yuan; in 2016, Sports Holding Company will hold at least three major categories of events in China; Nanchang Wanda City will open in May and Hefei Wanda City will open in September... Judging from the list of work goals listed by Wang Jianlin at the beginning of the year, Wanda's rapid advancement in the cultural industry in the second half of the year is worth looking forward to.

Editor: yvette