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One of China's largest private media and entertainment companies has revealed its net profit rose 34.89 percent in the first half to 81.46 million yuan ($12.75 million).
The financial report of Beijing Enlight Media Co Ltd, released on Wednesday, showed the company's total revenue reached 278.25 million yuan, up 6.97 percent year-on-year. The company's TV production and advertising arms contributed most of the profit, accounting for 57.5 percent of the total revenue.
Enlight Media enjoyed a boost in business when new regulations on TV entertainment, aimed at curbing programs in poor taste, were released in October last year by the country's top broadcasting watchdog. The regulations stimulated demand for new programs among the 34 satellite TV channels, which proved to be a good development opportunity for Enlight Media, said Liu Cuiping, research manager of EntGroup Consulting, a Beijing-based entertainment consultancy.
Five TV shows produced by Enlight Media have been broadcast on four satellite TV channels between January and June, including Liaoning TV and Anhui TV Station. In the next half, it's expected there will be two or three new programs broadcast on satellite TV, according to the report.
The movie and TV sector generated 86.69 million yuan in revenue, registering a year-on-year growth of 0.36 percent, said the report.
In the first six months the company distributed six movies but in the second half, the company will distribute 10 films, including one big-budget production.
In the next half of the year, this sector is likely to register more revenue for the company, analysts said.
"Enlight Media mainly focuses on film distribution, and it's a business that almost poses no risk for the company," said Liu.
