🎬 Mosfilm Values Its Golden Collection at 1,598 Rubles

Consequently, the total book value of this film pool stands at just 1,598 rubles, whereas the total net book value of all the studio’s cinematic productions, factoring in depreciation, has reached 287.1 million rubles.

The decision to transfer the films into intangible assets followed an audit by the Accounts Chamber. The agency’s audit revealed that approximately 1,500 Soviet-era films had previously been held off-balance-sheet without a monetary valuation, despite routinely being the subject of commercial transactions and generating a stable revenue stream for the cinema concern.

Mosfilm management explained the symbolic valuation by citing the technical impossibility of objectively calculating production costs from the Soviet era, as well as the complete absence of an approved methodology for valuing “vintage cinema.” In contrast, recently restored films are accounted for differently on the balance sheet, based on the actual expenses incurred during their restoration.

Industry experts and lawyers describe the chosen method as technically justified but overly cautious. The legal community emphasizes that a book value of one ruble will in no way restrict the studio in any potential sale of rights, as the market value of licenses is always determined independently. Nevertheless, this step will impact tax calculations: when selling rights at actual market rates, the entire difference between the market price and the one-ruble book value will be subject to corporate income tax.

Creative industry specialists add that the true cultural and commercial value of Mosfilm’s masterpieces is entirely incomparable to these accounting figures.