In 2015, there were 166 mergers and acquisitions by cultural enterprises, totaling 50.778 billion yuan in the film and television industry

According to incomplete statistics from reporters, as of December 25, 2015, there were 166 M & A incidents in the cultural media industry, slightly higher than the 2014 level. Among them, the film and television industry had the highest total M & A, reaching 50.778 billion yuan; The game industry ranked third, fourth and fifth.

Original title: Which industries are the most "lively" in the 2015 Cultural Industry M & A Report?

2013 was considered to be the "first year of mergers and acquisitions" of the cultural media industry, and "mergers and acquisitions" and "reorganization" became the annual keywords of the cultural media industry in 2013. Mergers and acquisitions in the cultural media industry in 2014 and 2015 continued this situation. According to incomplete statistics from reporters, as of December 25, 2015, there were 166 M & A incidents in the cultural media industry, slightly higher than the 2014 level; except for 23 cases that did not disclose the M & A amount, the total scale of other M & A reached 149.904 billion yuan, a year-on-year increase of 50%.

In terms of industries, the film and television industry has the highest total M & A, reaching 50.778 billion yuan; the game industry, followed by 32.89 billion yuan; the tourism industry, sports industry, and media industry rank third, fourth and fifth; the animation industry has only 3 times, ranking sixth. Judging from the average amount of each M & A, excluding M & A cases with undisclosed amounts in various industries, the tourism industry ranked first with 2.976 billion yuan, film and television ranked second with 1.881 billion yuan, and sports, games, and animation ranked third, fourth and fifth. The media industry ranked last with an average of 588 million yuan per transaction.

In 2015, there were 166 mergers and acquisitions involving cultural enterprises. The

scale of mergers and acquisitions was nearly 150 billion yuan

. The "Twelfth Five-Year Plan" period was a period of great development and prosperity of my country's cultural industry. In five years, the state issued a number of policies to promote the development of the cultural industry, involving land, taxation, investment and financing and other fields, the proportion of the cultural industry in GDP also increased from 2.75% in 2010 to 3.76% in 2014. The recently announced "Thirteenth Five-Year Plan" also once again proposed that "the cultural industry will become a pillar industry of the national economy." Against this favorable background, my country's cultural enterprises have also made great progress. The number of mergers and reorganizations among enterprises has increased significantly, industry integration and optimization, and some leading cultural enterprises have gradually emerged.

According to incomplete statistics from reporters, in 2013, there were 96 mergers and acquisitions in the cultural industry, with a merger amount of 50 billion yuan; as of December 20, 2014, there were 159 mergers and acquisitions in the cultural industry, with a total scale of 100 billion yuan. The scale of mergers and acquisitions in the first six months of 2014 has exceeded the total scale for the whole year of 2013. As of December 25, 2015, there were 166 mergers and acquisitions in the cultural media industry, slightly higher than the 2014 level; except for 23 cases that did not disclose the amount of mergers and acquisitions, the total scale of other mergers and acquisitions reached 149.904 billion yuan, a year-on-year increase of 50%.

In terms of month, the fourth quarter had the largest number of M & A cases of cultural enterprises, reaching 65; there were 31 cases in the first quarter, 39 cases in the second quarter, and 31 cases in the third quarter.

In terms of the amount of mergers and acquisitions, the amount of mergers and acquisitions in November reached a one-year peak of 42.423 billion yuan. Among them, Alibaba spent US$4.67 billion (about 30 billion yuan) on the full acquisition of Youku Tudou, accounting for about 71.4% of the total amount of mergers and acquisitions in the month.

According to the reporter, mergers and acquisitions of film and television and games are booming, the sports

and tourism industries have emerged

. According to the reporter, the mergers and acquisitions in 2014 mainly occurred in five industry sectors: film and television media, games and animation, mobile Internet, education and training, and tourism outdoor. Among them, the film and television and new media sectors are hot spots for mergers and acquisitions. Similarly, in 2015, mergers and acquisitions in industries such as film and television and games were still popular, and industries such as sports and tourism emerged suddenly.

According to incomplete statistics from reporters, as of December 25, 2015, there were 31 mergers and acquisitions in the film and television industry. Except for 4 cases with undisclosed amounts, the total amount of mergers and acquisitions reached 50.778 billion yuan, ranking first among all industries; In the game industry, there were 21 mergers and acquisitions, except for 2 cases with undisclosed amounts, the total amount of mergers and acquisitions reached 32.89 billion yuan, ranking second among all industries; There were 11 mergers and acquisitions in the tourism industry, with the exception of 3 undisclosed amounts, with a total amount of 23.806 billion yuan; there were 13 mergers and acquisitions in the sports industry, with the exception of 1 undisclosed amount, with the total amount of 21.393 billion yuan; There were only 3 mergers and acquisitions in the animation industry, with 1 undisclosed amount, and the other two mergers and acquisitions with an amount of 2.104 billion yuan; There were 37 M & A cases in the media industry. Except for 6 undisclosed amounts, the total M & A amount reached 18.077 billion yuan.

Judging from the average amount of individual mergers and acquisitions, the tourism industry ranked first with 2.976 billion yuan; the film and television industry ranked second with 1.881 billion yuan; the sports industry (1.783 billion yuan), the game industry (1.773 billion yuan), and the animation industry (1.052 billion yuan) ranked third, fourth and fifth; the media industry spent an average of 583 million yuan per merger, ranking last.

In addition, the reporter found that domestic cultural companies have increased the pace of overseas mergers and acquisitions this year. Mergers and acquisitions involve sports, tourism, film and television, media and other industries, with a total of 19 cases. Except for two cases, the amount of mergers and acquisitions was as high as 33.737 billion yuan (all converted according to the exchange rate on December 30). Among them, the sports industry is the industry with the largest number and largest amount of overseas mergers and acquisitions by domestic companies. According to statistics from reporters, there were 8 overseas mergers and acquisitions involving the sports industry by domestic companies, accounting for about 61.5% of all sports industry mergers and acquisitions cases in 2015. The M & A amount reached 19.787 billion yuan, accounting for about 92.5% of the total M & A amount of all sports industry mergers and acquisitions in 2015; It accounted for 42.1% of all overseas M & A cases in 2015, and the overseas M & A amount of the sports industry accounted for about 58.6% of all overseas M & A amounts.

Policies and markets drive the

accelerated expansion of leading companies in the industry M & A industry

. Through an analysis of the above data, the reporter believes that policy and market dividends are important drivers of accelerating industry M & A.

In 2015, my country's film and television industry achieved great development: in terms of movies, the box office of movies in China failed to exceed the 30 billion mark in 2014. As of September 2, 2015, the total box office of urban cinemas across the country had exceeded 29.639 billion yuan, exceeding the box office for the whole year of 2014; as of December 5, the box office of movies had exceeded 40 billion yuan. In terms of TV dramas, phenomenal TV dramas have emerged one after another, and ratings records have been repeatedly broken; various satellite TV stations have become fiercely competitive and have launched exclusive variety shows to attract audience attention; video websites have launched online self-produced dramas and online variety shows to compete for users with traditional TV stations and accelerate the test. Charging model to increase revenue.

In this context, mergers and acquisitions in the film and television industry have also become popular. Not only have large film and television companies merged and reorganized small companies to extend and improve the entire industrial chain. For example, Alibaba acquired Youku Tudou to lay out the film and television ecosystem; there are also many companies in the non-film and television industry crossing the border and entering the film and television industry, wanting to get a piece of the pie. For example, GDC acquired 100% equity of Chunchun Ronghe and 100% equity of Lehua Culture, and began to enter the film and television entertainment industry. Continuing the acquisition trend in 2014, Internet companies represented by BAT continue to enter the film and television industry in large numbers and expand their influence.

In terms of the sports industry, on October 16, 2014, the "Several Opinions of the State Council on Accelerating the Development of the Sports Industry to Promote Sports Consumption"(Guo Fa [2014] No. 46) was officially issued, proposing that "by 2025, the total scale of the sports industry will exceed 5 trillion yuan, the industrial system will be more complete, the industrial environment will be significantly optimized, and the industrial foundation will be more solid." On March 16, 2015, the "Notice of the General Office of the State Council on Printing and Issuing the Overall Plan for the Reform and Development of Football in China"(Guo Ban Fa [2015] No. 11) issued a clear proposal to "encourage social forces to develop football" and proposed to "strengthen the development of the football industry, increase the development and protection of football intangible assets, and develop football accessories by building event brands, cultivating football service markets, exploring the integrated development of the football industry and related industries, building an all-round and full-process football industry chain, and continuously increasing the income of the football industry. Form a pattern in which multiple economic components jointly establish the football industry." These policy dividends have greatly promoted the development of the sports industry last year and this year. This year, Wanda Group spent 1.05 billion euros to acquire a 100% stake in Swiss-based Infront Sports Media Group, ranking first among the major mergers and acquisitions in the sports industry in 2015.

Data disclosed at the National Sports Directors 'Conference held on December 28 showed that the total scale of sports and related industries nationwide in 2014 reached 1.357471 billion yuan, achieving an added value of 404.098 billion yuan. In 2013, the added value of sports and related industries nationwide was only 356.3 billion yuan, and the added value accounted for 0.63% of GDP. Regarding the development goals of the sports industry in 2016, Liu Peng, director of the State Sports General Administration, said: "Continue to implement the" Several Opinions on Accelerating the Development of the Sports Industry and Promoting Sports Consumption ", seize opportunities such as deepening supply-side structural reforms, and promote various tasks Work and strive to create a new situation for the prosperity and development of the sports industry." The reporter believes that the sports industry will see greater development next year; but the sports industry is, after all, an industry that "burns money", so the "entry threshold" is high. Perhaps in the future, through mergers and acquisitions, it will gradually evolve into several industry giants. The struggle between them.

Similar to the sports industry, in the past two years, the country has also introduced many policies to promote the development of the tourism industry. For example, on August 21, 2014, the "Several Opinions of the State Council on Promoting the Reform and Development of the Tourism Industry"(Guo Fa [2014] No. 31) was officially issued, proposing that "by 2020, the total domestic tourism consumption will reach 5.5 trillion yuan, the per capita annual travel of urban and rural residents will be 4.5 times, and the added value of tourism will account for more than 5% of the GDP." requirements. On August 11, 2015, the "Several Opinions of the General Office of the State Council on Further Promoting Tourism Investment and Consumption"(Guo Ban Fa [2015] No. 62) was officially issued, proposing to "implement a tourism investment promotion plan and create a new tourism consumption market" and other requirements. Driven by policy dividends, my country's tourism industry has developed rapidly: On December 17, the National Tourism Administration released the 2014 China Tourism Statistics Bulletin. The communiqué shows that the number of domestic tourists across the country was 3.611 billion, an increase of 10.7% over the previous year. The country's domestic tourism revenue was 3.031187 billion yuan, an increase of 15.4% over the previous year. The number of outbound tourists from our country reached 107 million, and the outbound tourism cost was US$89.64 billion.

In order to compete for China's outbound tourism market, many countries have implemented visa-free or visa-on-arrival policies to China. Some domestic tourism companies saw business opportunities and began to invest in overseas tourism resources, acquire mature foreign resorts, hotels, etc., and provide Chinese services, in the hope of attracting more China tourists to stay and get a piece of the cake by relying on their "fellow villagers 'friendship." In 2015, news leaked out such as Yuyuan Mall's acquisition of Japan Ski Resort for 947 million yuan and Jinjiang International Group's acquisition of France's Louvre Hotel Group. The reporter believes that the country has issued a number of policies to liberalize the Shanghai Free Trade Zone and Beijing to establish Sino-foreign joint venture travel agencies to carry out outbound business outside Taiwan. The industry integration and adjustment of the tourism industry will continue.

Editor: vian