Research On The Value Evaluation Of Listed Film And Television Media Companies Based On EVA-BS Model

With the increase of people’s demand for cultural consumption,policy dividend and industrial innovation,the cultural media industry has great development potential and attracts capital attention.It is important to explore a reasonable valuation model.This paper takes cultural media company as the case study object,builds a suitable valuation model,and takes Enlight media as the case to explore the applicability of the valuation model.First of all,through the analysis of the industry status quo,it is found that cultural media companies have the characteristics of asset light,high risk and high return,and the investment projects have the option attribute.Secondly,by comparing traditional models and EVA-BS valuation model,this paper constructs an EVA-BS valuation optimization model according to the characteristics of cultural media companies,evaluates the overall value of enterprises.Then,this paper takes Enlight Media as a case,compares the results of EVA-BS valuation optimization model with the average share price in the last month of 2021 and the results of traditional valuation methods,and explains the applicability of EVA-BS valuation optimization model.Finally,based on model building and case analysis,this paper draws research conclusions and future prospects.The research conclusions of this paper are mainly divided into three aspects.First,cultural media companies have typical characteristics of "asset light",high risk and high return.Second,EVA-BS valuation optimization model is applicable to the value evaluation of cultural media companies;Thirdly,the applicability of EVA-BS valuation optimization model is verified by the case analysis of light media.