Looks good to you! LeTV's first three quarters of the box office amounted to 2 billion
[PConline News] This week, the Shanghai Composite Index closed at 2329.45, a slight increase of 0.1%; Shenzhen Component Index closed at 8047.25, a slight drop of 2.0%. This week, the media sector fell by 2.20%. In terms of sub-sector performance, radio and television dropped by a relatively small drop of 0.61%; movie animation and Internet dropped by 1.23% and 1.60% respectively; flat media and integrated marketing suffered more declines. They were 3.64% and 3.99% respectively.
On September 18, LeTV Films officially announced the completion of Round B financing. The current round of financing amounted to 340 million yuan, including several investors such as Hengtai Capital. After the completion of the financing, LeTV's valuation reached 4.8 billion yuan, exceeding 30 times the PE value. According to reports, in the first three quarters of 2014, there were nine films produced or distributed by LeTV, with a cumulative box office of nearly 2 billion yuan. As of the evening of September 17, the box office in the Mainland had reached 21 billion. This way, the total box office for LeTV's production and distribution of movies accounted for about one-tenth of the box office in the Mainland.
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