Peach, pho and piano achieved revenue of nearly 21 billion VND

On April 5, at the conference with the Vietnam Union of Literature and Arts Associations and central specialized literature and arts associations in the first quarter of 2024, held in Hanoi , Ms. Ly Phuong Dung - Deputy Director of the Department of Cinema said that as of March 11, the revenue of Dao, Pho and Piano earned 20.8 billion VND (as of the date and break even after nearly 3 months of release.

Scene from the movie "Peach, Pho and Piano". Photo: Film crew

The film “Peach, Pho and Piano” was produced with 100% state funding of about 21 billion VND. Normally, when released in theaters, the producer must “cut” a percentage of the profit with the distributor, so the film “Peach, Pho and Piano” must earn 50 billion VND to be considered to break even. However, private film distributors have agreed to release the film in their theaters and fully transfer all ticket revenue to the state budget.

Ms. Ly Phuong Dung also said that up to now, legal regulations have mentioned quite fully and clearly the production and dissemination of films using the state budget, but there are still shortcomings.

According to regulations, the budget for producing a film is built on the basis of technical and economic norms stipulated in Decision No. 2484/QD-BVHTTDL, in which the unit price for ordering the production of a feature film includes direct production costs and 100 million VND for promotion and organization of a film premiere.

But the reality is that movies have huge production and promotion costs. With the above regulations, the production costs of movies using the state budget cannot keep up with market prices.

These regulations have caused many difficulties in disseminating films produced from the state budget, including "Peach, Pho and Piano".

Khanh Ngoc

Source: https://www.congluan.vn/phim-dao-pho-va-piano-dat-doanh-thu-gan-21-ty-dong-post290654.html