BONA FILM GRP LTD ADS
The PEG ratio, popularized by Peter Lynch, represents in essence what investing is all about: buying cheap growth stocks. Bona Film Group (NASDAQ: BONA), a Chinese film studio, is cheaper than its peers, but has stronger growth prospects. This is evidenced in both PEG valuations and film industry data. Bona Film represents the cheapest and most direct proxy for Chinese box office growth.
Moats that matter
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According to the Motion Picture Association of America, U.S./Canada admissions fell from $1.52 billion in 2003 to $1.36 billion in 2012. In contrast, China grew by 36% in 2012 to $$2.7 billion become the largest international market. Given this disparity in growth, U.S. film studios are unjustified trading at a premium to Bona Film Group (NASDAQ: BONA), a Chinese film studio.
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IMAX's Big Deal in China
IMAX (NYSE: IMAX) has been bringing Hollywood movies to the big screen since Apollo 13 in 2002. In 2009 they signed a deal with China's Huayi Bros. to bring Chinese movies to the big screen in China. Their first release was in 2010 with Aftershock, which grossed $640,000 on only 12 screens. Last week IMAX and Huayi Bros. expanded their agreement to more »
The latest superhero film from Marvel and its parent Walt Disney Company (NYSE: DIS), The Avengers, broke records this past weekend when its US opening earned an estimated $200 million. This huge box office only added to the money Disney has already raked in on the movie worldwide, an estimated $642 million after 12 days on release.
The Avengers movie is only the first of a number of blockbusters expected more »
The number of Americans going to movie theaters has dropped sharply over the past decade. According to the Motion Picture Association of America, the number of moviegoers in North America has fallen from 1.57 billion in 2002 to 1.28 billion in 2011. There are no doubt a number of reasons for this decline including consumers' ability today to rent movies or stream movies at home.
Box office revenues more »