Zhencheng corrects Mai's film revenue, giving conflicting figures right in the tax period

Male director and actor Zhencheng suddenly announced that the revenue of the film 'Mai' is not as high as the statistics on the internet. He said that the most accurate revenue is sent to mail daily, notably the figure he gives is less than tens of billions.

According to statistics of Box Office Vietnam, an independent box office observation unit as of the afternoon of March 1, Tran Thanh's film 'Mai' achieved revenue of VND 500 billion, breaking the previous record of 'Ms. Nu's House' (VND 475 billion) to become the highest-grossing film in Vietnamese film history. However, on his personal page, Tran Thanh posted a post announcing that the film 'Mai' has reached VND 480 billion after 21 days of release. The artist shared, in recent days, people congratulated Mai on surpassing VND 500 billion based on data from Box Office Vietnam.

On her personal page, Tran Thanh is pleased to announce that Mai film reached VND 480 billion after 21 days of release. With this achievement, the work starring Phuong Anh Dao - Tuan Tran became the highest-grossing Vietnamese film up to now, surpassing Ms. Nu's House. Tran Thanh said that in recent days, people congratulated Mai on surpassing VND 500 billion based on data from Box Office Vietnam. However, he corrected: "To be honest, the exact number that the publisher statistics with me and sends emails every day is not that number." Tran Thanh shared that revenue figures at Box Office Vietnam are statistics by an independent unit, not in the distribution system of Mai films, so the accuracy is relative and used for reference. "The number I announced is accurate, statistic by the official distributor of the film," he explained.

Zhencheng also did not understand the calculation formula and statistical technology of Box Office to come up with that number over 500 billion! But that number is only relatively true compared to the actual number, not completely accurate. "Its error can range from 5 to 10 percent, depending on the timing. I have to make this clear, but you misunderstand why the number on Box Office Vietnam has exceeded 500 billion and I put the poster full of lower numbers," the director said.

Previously, Zhencheng's 'Mai' was suspected of inflating revenue to promote the film. Discussing this issue, Mr. Nguyen Khanh Duong, representative of Box Office Vietnam, said that the data on the page has undergone strict testing from film production units, theaters ... "I believe that the data on the site reflects the film's revenue situation," Duong added.

Talking about the 10% difference compared to actual revenue, Mr. Duong said that Box Office Vietnam's statistics based on ticket prices sold including VAT should always be higher from 8 to 10%. "And the manufacturers, when receiving the revenue report, have been deducted from the tax. That is the difference of before and after tax", Box Office Vietnam representative responded.

As for the final profit that the film received, many also wondered. Accordingly, the revenue of the film is "huge", but most of the film revenue does not fall into the pocket of the production unit, because it also has to be shared with theaters, distributors and deduct taxes. First, the total revenue of a project after deducting VAT fee (5%) will be divided between theaters and distributors. Typically, theaters will enjoy 50-60% of film revenue. This rate depends on the agreement between the two parties and varies from week to week.

Typically, large theater clusters such as CGV, Lotte or Galaxy will enjoy 55-60% of revenue in the opening week, then gradually decrease to 50% or 45% in the following weeks. Or sometimes vice versa, theaters enjoy only a small percentage in the first week and gradually increase in the following weeks.

After deducting the amount to the theater, the remaining amount will be shared by the distributor with the production unit. This rate also depends on the initial deal between the two parties. The amount collected by the manufacturer then continues to have to deduct contract costs, corporate income tax. Therefore, the actual profit earned by the manufacturer usually only fluctuates in about 30% of the revenue of the project.

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