The Market Monitor Minding the Nation's Business
The Metro Manila Development Authority (MMDA) has finally spoken and issued its official statement, primarily, on the box-office results of the recently concluded 2024 Metro Manila Film Festival (MMFF) through its publicity division.
The MMDA is the organizing force of the annual fiesta of Philippine films since the mid-70s, which was initially shown in mid-year, say June, but eventually moved to December in the late seventies during Christmas day as opening of the fest.
The MMFF is under the auspices of the central metro manila government.
P800M gross
According to the MMDA, the total gross earned by the 50th MMFF was P800M combined all ticket sales of the ten (10l entries, namely Star Cinema and IdeaFirst Company’s “And the Breadwinner is…” which starred Vice Ganda, the perennial MMFF box-office magnet; Mentorque Productions’ ” Uninvited” which fronted Vilma Santos, Nadine Lustre and Aga Muhlach; Viva Films’ “Hold Me Close” which featured Carlo Aquino and Julia Barretto; Reality MM’s “Strange Frequencies: Taiwan Killer Hospital” which presented Jane de Leon and Enrique Gil: Quantum Films’ “Espantaho” headlined by Judy Ann Santos, Janice de Belen, Chanda Romero and Lorna Tolentino; Regal Entertainment’s “My Future You” which was topbilled by Seth Fedelin and Francine Diaz; M-Zet Productiios, MediaQuest and APT Entertainment’s “The Kingdom” which showcased Vic Sotto, another perennial MMFF king of the tills and Piolo Pascual; GMA Pictures’ “Green Bones” which pitted Dennis Trillo and Ruru Madrid together; Nathan Films’ “Topakk” which offered the public the talents of Arjo Atayde and Julia Montes and Kapitol Films and United Straight Shooters Media, Inc.’s “Isang Himala” which highlighted the musical talents of Aicelle Santos, Bituin Escalante, David Ezra, among others.
Marian and Dingdong, still unbeatable
Alas, its overall cash registry is lower than the 2023 MMFF where it took home a whopping combined P1B in total receipts from all the ten titles but Star Cinema and AgostoDos Films’ “Rewind” which starred real and reel couple Marian Rivera and Dingdong Dantes moved up a disparaging take home of P900M plus alone.
Marian and Dingdong’s starrer is still unbeatable.
Historically, the total earnings of each MMFF edition are consistently increasing.
To date, P500M was earned in 2022, no official figures were released by MMDA in 2021 and 2020, only ranking of the first three top-grossers.
In 2019, MMDA targeted P1B but its total revenue fell short of its expectations.
No official figures were released, only ranking of the entries—albeit only the Top 3—according to gross receipts.
Obviously, there was a crooked line in the chart considering the performances in the box-office movements of each edition from 2019 to 2021.
In the same vein, there is a big decline in total earnings of the lineup in last year’s screening.
To wit, Star Cinema has released a PR statement that “And the Breadwinnner is…” has earned P400M, half the revenues of the remaining nine (9) participants combined.
Sad.
Inconsistent box-office records
Generally, the box-office results of the MMFF per year are inconsistent if not regressing.
What gives?
Does the continuous patronage of moviegoers on live streaming of equally outstanding films have something to do with the dismal performances of the entries during the entire MMFF run?
Considering that the 50th MMFF was extended until January 14, 2025 after its official January 7, 2025 end.
Still, there was a little if not scarce improvement in the box-office records.
Meanwhile, MMDA Chief Romando Artes opined that the 2024 has reaffirmed its objectives of showing quality films unlike the past years when critics taunted on its choices of trashy, unworthy festival films.
Artes is simply implying that MMFF favors quality films even if they don’t make much money.