Patrick Vega for several years it triumphed in Polish cinemas. Her films, mainly from the series ‘Pitbull’ and ‘Mafia Women’ have each garnered several million viewers, some of which in the form of multi-episode series have also been broadcast on television and streaming platforms.
This has translated into the financial successes of the director-controlled company Vega Investments (he owns 98 percent of the shares). In 2017, when the movie “Botoks” was seen in theaters by about 2.3 million peoplerecorded revenues of PLN 5.39 million and a net profit of PLN 2.21 million, which was fully distributed as a dividend.
A year later, when “Botoks” was released on streaming and television, and was shown in theaters “Mafia Women” (attracted 2 million viewers), In 2017, the company achieved revenue of PLN 11.2 million with PLN 17.74 million.
Success repeated in 2019 (then you could watch “Kobiety mafii 2” in cinemas), reaching PLN 5.01 million in revenues and PLN 1.54 million in net profit. In addition, another company of Patryk Vega, responsible for the film and mini-series “Polityka”, with revenues of PLN 8.4 million, earned PLN 3.46 million.
Fewer viewers in cinemas, movies also on Netflix
The good streak was interrupted by the outbreak of the epidemic, which caused cinemas to close in spring 2020 and from November 2020 to May last year. and their operation for many months with room occupancy restrictions. The film “Bad Boy” in early 2020 was still shown for a few weeks before the first lockdown, it raised almost 400,000. spectators.
Instead “Loop” premiered in early September 2020, it was watched in Polish cinemas by 570,000 people. people. Both films were also screened overseas, as the miniseries were televised and appeared on Netflix.
The Vega Investments report stated that the cooperation with Netflix in the distribution of both films was undertaken “to maximize revenue for investors”. In 2020, the company had revenues of PLN 6.52 million, while its operating costs reached PLN 10.7 million (PLN 9.43 million went to external services, PLN 1.1 million to salaries ). After adding PLN 1.03 million of other operating costs, the gross and net loss amounts to PLN 5.15 million.
Profitability wasn’t any better last year. This fall, the company released two titles in theaters: “Small World” (423,000 people watched) and “Pitbull” (415,000 viewers). In the case of streaming, the company decided to partner with Amazon and Apple, “Small world” did not have its own serial version.
With PLN 8.53 million in revenues, Vega Investments incurred PLN 16.02 million in operating costs (PLN 14.25 million for outsourced services, PLN 1.55 million for salaries), posting a net loss of PLN 7.49 millions.
This year’s least popular movies
The company’s large operating costs are tied to the production of subsequent films. At the end of 2020, prepaid expenses for the making of “Little World” amounted to PLN 8.26 million, and a year later in the case of “Invisible War” it was PLN 7.92 million.
The problem is that new films this year. attract a smaller audience. “Invisible War, a film biography of Patryk Vega, had only 30,000 copies the weekend of its premiere. viewers, in the next week – 7.3 thousand. and dropped out of the top ten at the box office.
Instead “Love, Sex & Pandemic,” which hit theaters in early February, drew 320,000 admissions in its first four weeks. viewers (98.3 thousand in the opening weekend), and then dropped out of the top ten.
For comparison, “Pitbull” was viewed by 160.7 thousand in its first weekend of broadcasting. people, “Small World” – 107 thousand and “Loop” – 178.4 thousand.
Due to the losses of 2020 and 2021 Vega Investments’ equity is in the red: at the end of last year it amounted to PLN -17.03 million, compared to PLN -9.3 million the previous year.
In the chart below with the results of Vega Investments, the current financial year is 2021 and the previous one – 2020.
The defeat of “Pitbull” in English
It was also a financial failure distribution since November last year in foreign cinemas of “Exodus”, the English-language version of “Pitbull”. – There has been a collapse of European cinemas following the introduction of new restrictions. Many countries have decided to restrict access to cinemas for people who are not vaccinated against COVID-19, Vega Investments Coverman, the company responsible for this distribution, described in a report.
– As a result of this decision, potential viewers have been informed that a ban on the sale of tickets to people with a negative COVID test has been introduced. This caused an informational chaos that caused confused people to cancel their trip to theaters and the film did not record its intended soundtrack, he added.
Vega Investments Coverman with only 75.7 thousand. PLN 3.93 million operating costs and PLN 3.85 million net loss, against PLN 5.05 million of proceeds, PLN 5.04 million of operating expenses and PLN 18 thousand. Net loss in PLN one year earlier.
In the report, he noted that 4.99 million PLN from investor contributions have been allocated for the implementation of “Exodus”. The film cost PLN 3.85 million and grossed only 75.7 thousand. PLN of income.
On the other hand Amore Vega, who was in charge of the further distribution of the film and series “Polityka” and the production of “Love, Sex & Pandemic” last year with revenues of PLN 1.05 million incurred by operating expenses of 6, PLN 17 million (PLN 5.11 million for external services, PLN 903.2 thousand for salaries), recording a net loss of PLN 5.12 million.
Only Gravity had a slight advantage: with PLN 7.97 million in revenues and PLN 7.92 million in operating costs (the report does not indicate which films and series he worked on) reached 53.7 thousand. PLN net profit.
Other Patryk Vega companies did not operate on a significant scale. For example, Company 8 (formerly trading under the name Vega Investments Small World) registered 2,000 last year. Proceeds PLN and 5 thousand. Net loss in PLN, established in the middle of last year. Seventy-seven – 6 thousand. PLN revenue and net profit 92 PLN, research company 77 – 6 thousand. PLN of proceeds and PLN 120 of net profit, and the company Eight – PLN 6 thousand. PLN of income and PLN 149 of net profit.
Vega said earlier this year that “The Invisible War” is his latest film for the Polish market. She announced that she was preparing an English-language film with a Hollywood actor about the Russian mafia.
