AMTD Digital’s Entertainment and Movie Businesses Are Estimated to Contribute Significantly to Net Profit
AMTD Digital Inc. (NYSE: HKD) expects a $16 million contribution from its entertainment and movie businesses for the six months ended October 31, 2023. The recent release of the 'Goldfinger' movie achieved outstanding results, with a global box office of USD 72.3 million in less than a month. The movie has garnered 11.92 million viewers and 3.94 billion TikTok video plays. The 'Moscow Mission' movie has also achieved a cumulative worldwide box office of USD 92.5 million. AMTD Digital, along with its controlling shareholders, has increased efforts and investment in top-quality media content creation, especially in the movie industry, to cater to global audiences.
The recent update from AMTD Digital Inc. regarding its profit estimate and performance metrics of its entertainment and movie businesses provides substantial information for stakeholders. The reported contribution of US$16 million from entertainment and movie businesses, primarily driven by the successful release of the 'Goldfinger' movie, indicates a strong performance in this segment. The detailed metrics, such as the global box office revenue and social media engagement (e.g., TikTok video plays), are indicative of the movie's popularity and market penetration.
From a market research perspective, the extension of the 'Goldfinger' movie's theatre time in China due to its popularity is a positive indicator of consumer demand and market acceptance in a key geographic region. The performance of 'Moscow Mission' further reinforces the company's position in the market. Such successes can be leveraged for future productions and may enhance the company's brand recognition and bargaining power with distribution channels.
It's noteworthy that the company is part of a broader media and entertainment conglomerate, which includes AMTD IDEA Group and AMTD Group Inc., suggesting a synergistic relationship that could provide a competitive edge in content creation and distribution. However, the advisory for investors to not place undue reliance on preliminary estimates is a reminder of the volatility and unpredictability inherent in the entertainment industry, where final financial results may differ from early estimates due to various adjustments.
The financial performance of AMTD Digital Inc.'s entertainment and movie businesses, particularly the box office results, can have a direct impact on the company's short-term revenue and profitability. The significant box office takings of 'Goldfinger' and 'Moscow Mission' are likely to contribute positively to the company's earnings, which could be reflected in the stock price as the market reacts to these results. The extension of the 'Goldfinger' movie's showing in China could potentially lead to additional revenue beyond the initial projections.
Investors should be aware that the entertainment industry is subject to rapid changes in consumer preferences and the success of one or two movies does not necessarily guarantee continued success. The company's strategy of investing in high-quality media content is crucial, but the return on investment (ROI) for such ventures can be highly variable. The preliminary nature of the profit estimate also means that these figures are not set in stone and could be subject to revisions, which may affect investor sentiment and stock volatility in the short term.
Furthermore, the company's connection with its controlling shareholders and their collective efforts in content creation could signal a robust pipeline of future projects, which might be a point of interest for long-term investors. However, it is essential to scrutinize the final audited financial results for a clearer understanding of the company's financial health and to assess the sustainability of its success in the entertainment sector.
01/26/2024 - 09:26 AM
PARIS & NEW YORK --(BUSINESS WIRE)--
AMTD Digital Inc. (NYSE: HKD) (“AMTD Digital” or the “Company”), a comprehensive digital solutions and global hospitality and VIP services platform headquartered in France , today provided further details regarding its profit estimate for the six months ended October 31, 2023 previously announced on January 25, 2024.
For the six months ended October 31, 2023, the Company is expecting a contribution of US$16 million from its entertainment and movie businesses. The most recent worldwide release of the “Goldfinger” movie achieved outstanding results from global box office of USD 72.3 million in less than a month (in cinema for 28 days so far as of today). Other strong key performance indicators as of today: total movie viewers of 11.92 million; 3.94 billion of tiktok video plays relating to the movie; No. 1 ranking in the 2024 China crime and thriller movie category in terms of box office etc. The theatre time of the “Goldfinger” movie in China has been extended until 23:59pm on February 29, 2024 due to popularity. On an overall basis and through AMTD World Media and Entertainment Group, the Company, together with its controlling shareholders, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Group Inc., have stepped up the efforts and investment in the creation of top quality media contents, particularly in the movie industry, to present to worldwide audiences. Additionally, the “Moscow Mission” movie has achieved a cumulative worldwide box office of USD92.5 million as of today and the movie is now made available on big screens across selected key cities in Asia after its successful release in China .
The foregoing estimate is preliminary in nature and is based on information currently available to the management of the Company. The estimate is subject to changes as we adjust and finalize our financial results for the relevant period. Accordingly, investors are advised not to place undue reliance on this information and should instead refer to our unaudited financial results of the relevant period to be subsequently published by the Company.
About AMTD IDEA Group
AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global capital markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles as well as hospitality and VIP services. Through our unique eco-system – the "AMTD SpiderNet" - AMTD IDEA Group is uniquely positioned as an active superconnector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as “Twitter") at @AMTDGroup.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France . Its one-stop digital solutions platform operates four main business lines including digital solutions services, digital media, content and marketing services, digital investments as well as hospitality and VIP services. It is the fusion reactor at the core of the AMTD SpiderNet ecosystem and empowers and integrates the various digital businesses within its ecosystem. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news .
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD Digital Inc. are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD Digital Inc. with the SEC. All information provided in this press release is as of the date of this press release, and AMTD Digital Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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For AMTD IDEA Group:
ir@amtdinc.com
For AMTD Digital Inc.:
ir@amtdigital.com
Source: AMTD Digital Inc.
What is the profit estimate for the six months ended October 31, 2023?
AMTD Digital Inc. expects a contribution of US$16 million from its entertainment and movie businesses for the six months ended October 31, 2023.
What were the global box office results for the 'Goldfinger' movie?
The 'Goldfinger' movie achieved outstanding results, with a global box office of USD 72.3 million in less than a month.
How many viewers did the 'Goldfinger' movie garner?
The 'Goldfinger' movie garnered 11.92 million viewers.
What is the cumulative worldwide box office for the 'Moscow Mission' movie?
The 'Moscow Mission' movie has achieved a cumulative worldwide box office of USD 92.5 million.
Who are the controlling shareholders of AMTD Digital Inc.?
The controlling shareholders of AMTD Digital Inc. are AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Group Inc.
