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Patrick Vega depicts how much a company gains from a loss

Patrick Vega depicts how much a company gains from a loss

Patrick Vega For several years he triumphed in Polish cinemas. His films, mostly from the “Pitbull” and “Mafia Women” series, have amassed several million viewers, some in the form of multi-episode series that have also been broadcast on television and on streaming platforms.

This translated into the financial successes of Vega Investments, which the director controls (he owns 98 percent of its shares). In 2017, when The movie “Botox” was seen in cinemas by about 2.3 million peoplerecorded PLN 5.39 million in revenue and PLN 2.21 million in net profit, which was paid in full as dividends.

A year later, when “Botoks” was distributed live and on television, and shown in cinemas “Mafia Women” (attracting 2 million viewers), In 2017, the company generated PLN 11.2 million in revenue with PLN 17.74 million.

Success It was repeated in 2019 (then you can watch “Women of Mafia 2” in cinemas), with revenues of PLN 5.01 million and net profit of PLN 1.54 million.. In addition, another company from Patryk Vega, responsible for the film and miniseries “Polityka”, with a revenue of PLN 8.4 million, brought in PLN 3.46 million.

Lack of viewers in cinemas, movies also on Netflix

And the good series was interrupted due to the outbreak of the epidemic, which caused the closure of cinemas in the spring of 2020 and from November 2020 to May last year. And up and running for several months with room occupancy restrictions. “Bad Boy” ran in early 2020 for a few weeks before the first shutdown, gathering nearly 400,000 viewers.

while Loop premiered at the beginning of September 2020, and was seen in Polish cinemas by 570 thousand. People. Both films have also been shown abroad, as the miniseries has been broadcast on television and appeared on Netflix.

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The Vega Investments report stated that the collaboration with Netflix in distributing both films was done to “maximize revenue for investors.” In 2020, the company generated PLN 6.52 million in revenue, while operating costs amounted to PLN 10.7 million (PLN 9.43 million for external services, PLN 1.1 million for salaries). After adding PLN 1.03 million in other operating costs, the gross and net loss amounted to PLN 5.15 million.

Profitability was no better last year. In the fall, the company presented two titles for cinemas: “Small World” (watched by 423,000 people) and “Pitbull” (415,000 viewers). And in the case of broadcasting, the company decided to cooperate with Amazon and Apple. “Small world” did not have its serial version.

With PLN 8.53 million in revenue, Vega Investments incurred PLN 16.02 million in operating costs (PLN 14.25 million for external services, PLN 1.55 million for salaries), recording a net loss of PLN 7.49 million.

The least known films of the year

The company’s large operating costs are associated with subsequent film production. At the end of 2020, prepaid expenses for the implementation of “Small World” amounted to PLN 8.26 million, and one year later in the case of “The Invisible War” amounted to PLN 7.92 million.

The problem is that new movies in this year. Attract a younger audience. “Invisible War, a biopic of Patryk Vega, had just 30,000 copies in its premiere weekend. Viewers, next week – 7.3 thousand. It fell out of the top ten at the box office.

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while The movie “Love, Sex & Pandemic”, which hit theaters in early February, drew 320,000 viewers in its first four weeks of release. Viewers (98.3K in its opening weekend), Then they dropped out of the top ten.

For comparison, “Pitbull” was watched by 160.7 thousand in its first weekend of broadcast. People, “small world” – 107 thousand, and “ring” – 178.4 thousand.

Due to losses from 2020 and 2021 The equity of Vega Investments is in the red: at the end of last year it amounted to -17.03 million PLN, compared to -9.3 million PLN in the previous year.

In the chart below with the results of Vega Investments, the current fiscal year is 2021, and the previous year – 2020.

Defeat “Pitbull” in English

It was also a financial failure Distribution since November last year in foreign cinemas of “Exodus”, the English version of “Pitbull”. – There has been a collapse in European cinemas as a result of the imposition of new restrictions. Many countries have decided to restrict access to cinemas for people who have not been vaccinated against COVID-19, Vega Investments Coverman, the company responsible for that distribution, is described in a report.

– As a result of this decision, potential viewers have been informed of a ban on the sale of tickets to people who have a negative COVID test. She added that this caused a media chaos that caused the confused to cancel their trip to theaters and the film did not score the expected result.

Vega Investments Coverman, with only 75.7 thousand. 3.93 million PLN in operating costs and 3.85 million PLN in net loss, For PLN 5.05 million in revenue, PLN 5.04 million in operating expenses and PLN 18 thousand. PLN net loss in the previous year.

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In the report, she indicated that PLN 4.99 million of investors’ contributions were allocated for the “exit” implementation. The film cost PLN 3.85 million and brought in only 75.7 thousand. PLN of revenue.

on the other side Love Vega who last year handled additional distribution of the film and series “Polityka” and the production of “Love, Sex & Pandemic” with revenues of PLN 1.05 million incurred PLN 6.17 million in operating expenses (PLN 5.11 million for foreign services, PLN 903.2 thousand for salaries), Recording a net loss of PLN 5.12 million.

Gravity had only a slight advantage: with 7.97 million PLN in revenue and 7.92 million PLN in operating costs (The report does not indicate which films and series you worked on) It amounted to 53.7 thousand. PLN net profit.

Other Patrick Vega companies have not worked as widely. For example, company 8 (formerly Vega Investments Small World) last year recorded 2000. PLN and 5 thousand revenues. Net loss of PLN, established in the middle of last year. Seventy seven – 6 thousand. Revenue of PLN and net profit 92 zlotys, research company 77-6 thousand. PLN of revenue and PLN 120 of net profit, the company eight – PLN 6 thousand. PLN in revenue and PLN 149 in net profit.

Vega said earlier this year that “The Invisible War” is his last film for the Polish market. He announced that he was preparing an English-language film with a Hollywood actor about the Russian mafia.

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