Turned over and collected more than 1,000 billion VND, continuing to increase rapidly
As of May 4, Flip 7: A wish of Ly Hai collected more than 230 billion VND, according to data from Box Office Vietnam.
After more than a week in theaters, Ly Hai’s film has not lost its attraction. Every day, the seventh movie of Face Off earns about 10 billion VND, sometimes up to 20 billion VND/day during peak holidays.
With the rapid and continuously increasing revenue of Face Off 7, Ly Hai became the second director of Vietnamese cinema to reach the figure of more than 1,000 billion VND in out-of-theater revenue, after Tran Thanh.
According to Mr. Nguyen Khanh Duong, founder of the independent box office statistics unit Box Office Vietnam, all advantages are in Turn over 7. Ly Hai’s film was released on the 5-day holiday of April 30-May 1.
Not to mention the fact that Ly Hai has no competitors outside the holiday box office, from Xuan Lan, Mai Thu Huyen to Phan Gia Nhat Linh (in terms of recent revenue and recognition in the film industry).
Portrait of Tran Thanh and Ly Hai, two trillion-dollar directors of Vietnamese cinema. |
According to Mr. Khanh Duong, all advantages are focused on Unmasked 7. It is very possible that One Wish targets The Godfather (the movie with the highest revenue in 2021 is 427 billion VND).
To predict the revenue increase of Flip 7, just look at the number of screenings per day of the movie. On May 4, the film was stable with 4,263 screenings/81,015 tickets. To be given priority by theaters with more than 4,000 screenings/day, not every movie can do it, especially when Flip 7 has been in theaters for more than a week.
Previously, Vietnamese theaters only had Tran Thanh’s films, which were favored with about 5,000 screenings/day due to the huge number of advance ticket reservations.
While Ly Hai and Tran Thanh easily sell tickets in theaters, many directors and producers struggle to attract viewers. During the 2024 Lunar New Year season, two films, Tra and Morning Light, left theaters and were rescheduled because Mai dominated the screenings.
During the April 30-May 1 holiday, the ability to sell tickets for Vietnamese films “will become even more difficult” when Flip 7 hits theaters.
Even when proactively screening a few days early to avoid Turn 7, The Price of Happiness still suffered the fate of stagnating revenue (total revenue is 25.6 billion VND, increasing slowly in recent days) when the film of Ly Hai attacked Vietnamese theaters.
At this rate, in the next few years, the two trillion-dollar directors will continue to be unrivaled names in theaters during the Tet movie season (Tran Thanh’s market share) and the movie will be released on the holiday of April 30, 1/2. 5 (Ly Hai’s opportunity to make money).
And if the market continues to follow the trend of “Tran Thanh, Ly Hai and the rest”, according to film critic Nguyen Phong Viet with Tien Phong, it will be a long time before a third director joins the thousands. billion dong.
And if a third trillion-dollar director appears, it will be difficult for anyone to break Tran Thanh’s record of reaching 1,000 billion the fastest (more than 1,400 billion VND after three Tet films), or surpass Ly Hai (more than 1,000 billion VND after seven theatrical production).
How much did Ly Hai pocket?
In addition to becoming the second trillion dong director of Vietnamese cinema, Ly Hai holds the record for having the most successful Vietnamese film series of all time in terms of revenue.
That comes from the fact that the revenue of the Face Off parts has gradually increased after each film, after the first film in 2015.
With 72 billion VND for Turn Over 1, Ly Hai was victorious with Turn Over 2: The studio reached 80 billion VND, followed by Three Disabled Men with a revenue of more than 85 billion VND.
In 2019, Ly Hai released Flip 4: We Have Guests. The film achieved revenue of more than 120 billion VND despite being released at the same time as the blockbuster Avengers: Endgame. After that, the 5th movie called Face Off: 48 Hours earned more than 150 billion VND.
2023 is considered a breakthrough year for Ly Hai when Flip 6: Ticket of Destiny achieved revenue of more than 300 billion VND, double the previous part.
This year, the Flip Face brand continues to “do well” during the April 30-May 1 holiday. With a revenue of more than 200 billion VND after 5 days of screening and continuing to increase sharply, director Ly Hai surpassed the 1,000 billion VND mark in out-of-theater revenue.
It took nearly 10 years to become a trillion dong director, but in reality, Ly Hai could not “earn” more than 1,000 billion dong.
According to film producer Nguyen Cao Tung, who has experience in producing and distributing films for Galaxy Cinema, the actual amount of money in Ly Hai’s pocket is much lower than the revenue of VND 1,000 billion from the brand Flip Face.
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| Film director and producer Cao Tung. |
Talking with Tien Phong, Mr. Cao Tung proposed a calculation method widely used by theaters to calculate the amount of money director Ly Hai actually received.
First, all seven Face Off movies experience around 8-10% VAT.
Next, Ly Hai pays about 50% of the theater rental fee.
After that, the male director must pay the publisher an additional 4% of the total revenue after deducting the movie rental fee.
“After deducting all the above costs, 1,000 billion VND of Face Off is only about 441.6 billion VND. Continue to deduct the budget of seven films and additional PR costs of about 175-200 billion VND (estimated figure) , Ly Hai earned about 240 billion VND,” producer Cao Tung said.
In addition, the above figure of 240 billion VND does not include personal income tax or corporate income tax, financial costs and loan interest (if any).
Producer Cao Tung previously used a similar formula to estimate the amount of money Tran Thanh received from the revenue of more than 1,400 billion VND of Mai, Nha Ba Nu and Godfather.
Minus all the amounts according to the initial agreement with the theater, PR costs, filmmaking costs… the amount of money Tran Thanh earned from the three most popular movies of all time at the Vietnamese box office is about 453.6 billion VND .
Producer Cao Tung emphasized that all of the above numbers are only estimates and may have small errors because the revenue sharing between theaters and filmmakers is different.
The common revenue sharing level is currently 55% for the first week, 50% for the second week and 45% for the third week (depending on the film brand, the director’s reputation, and the theater’s investment).
All in all, producer Cao Tung believes that it is reasonable for theaters (also distributors) to take more than 60% of film revenue.
“It costs a lot of money for theaters to invest in a methodical screening room. Their daily revenue is just like market money, mainly based on distribution costs. Therefore, the first week a movie is released in theaters, they charge a high fee, which is very normal. And if The state does not have a policy to support the flow of domestic content. In principle, theaters must operate in a market-based manner to survive,” said producer Cao Tung.