The ticketing company benefited from soaring concert sales last year, almost doubling its profit, and is also pivoting towards pop-culture merchandise
image credit: Author
Key Takeaways:
- Damai Entertainment has predicted its annual net profit for 2025 will surge by more than 90%, driven by strong demand for live music performances
- The company is also moving beyond ticketing into IP merchandising and cute collectibles
China’s concert sector has boomed over the past two years, driven by demand for live experiences and a government drive to boost leisure consumption.
As concerts have become big business in many cities, tours for big-name acts popular with a young crowd, such as Jay Chou, Mayday or Jason Zhang, are typically selling out. Which is good news for Damai Entertainment Holdings Ltd (1060.HK), one of China’s leading ticketing platforms.
In a May 8 statement, the company said its profits for the year to March were expected to jump 92% or more to at least 700 million yuan ($103 million) from around 364 million yuan a year earlier. The company cited what it called a more stable asset structure, lower risk exposure within its portfolio and reduced investment losses.
Originally operating as Alibaba Pictures, the business rebranded as Damai Entertainment last year and has been scaling back its film and TV projects, which can be volatile and weigh on profits. Instead the firm has been shifting towards live entertainment, ticketing and cute merchandise derived from copyrighted cartoon or film characters.
China’s large-scale concert box office revenue rose 13.7% in 2025 to 29.56 billion, according to figures from China’s performing arts association. Including related spending, …
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