Home Blog Page 9939

MORE allots P1.7 billion for Iloilo power system

MORE Electric and Power Corp. has countered the projected capital outlay of Panay Electric Co., Inc. (PECO) with a bigger budget at a shorter period of P1.7 billion to upgrade the power distribution system of Iloilo City.

Roel Z. Castro, president of MORE, said in a statement on Monday that the P1.1-billion capital expenditure of PECO for the next 10 years is “more or less” the amount it owed to the city’s electricity consumers.

So tama lang (So it’s just right that) they will pump it in because utang nila ’yan sa (they owe that to) consumers. In fact, they have to spend that in 10 weeks, not 10 years,” he added.

Mr. Castro, who described PECO as “franchise-denied,” said consumers had been paying the amount for years, but the utility did not invest what was collected in the past.

His statement is the latest in the exchange of words through media between MORE, the new utility franchise owner in Iloilo City, and PECO, the area’s distribution utility for 95 years whose franchise had expired.

Last week, Marcelo U. Cacho, PECO head of public engagement and government affairs, told reporters that the company was allocating about P1.1 billion in the next 10 years to upgrade and expand its existing facilities, including the construction of new substations and the replacement of its meters with “smart” ones.

Mr. Cacho, a fifth-generation member in the family business, said the company has also launched its smart metering project, which allows prepaid metering, real-time wireless meter reading, automatic disconnection and reconnection.

Early this year, MORE was granted a franchise to establish, operate, and maintain, for commercial purposes and in the public interest, an electricity distribution system in Iloilo City through Republic Act No. 11212.

It sought to expropriate what it called PECO’s “ageing” distribution network with the issuance of the franchise, which authorized MORE to take over the facility and property it needs to ensure Iloilo City and nearby towns have continuous supply of electricity.

However, PECO said a ruling by the Supreme Court blocked the expropriation of the distribution utility’s assets by MORE. It also pointed to a judgment by the Mandaluyong Regional Trial Court declaring Sections 10 and 17 of RA 11212 as void and unconstitutional for infringing on PECO’s rights to due process and equal protection of the law.

Mr. Castro said PECO’s investment announcement last week was merely a public relations stunt in a desperate bid to undo Congress’ decision to grant the electricity distribution franchise to another company.

“If PECO spent that amount 10 years ago, the Iloilo City Council would not have passed a resolution asking Congress to find a new distribution utility to manage the city’s electricity distribution system and the Senate and the House of Representatives would have renewed its franchise that expired this year. Instead Congress granted the franchise to MORE and President Rodrigo Duterte signed it into law,” he said. — Victor V. Saulon

Four directorial debuts in Cinema One film fest’s lineup

“ORIGINALITY in all its permutations” is the enduring battle cry of the now 15-year-old Cinema One Originals Film Festival as it continues to present films that challenge audiences to experience something “that goes beyond cinema, beyond cinephilia, beyond entertainment.” And with that mantra, the festival is presenting eight films from various genres from horror to the tried-and-tested romantic comedy.

The festival will run from Nov. 7 to 17 in select Ayala Malls cinemas (TriNoma, Glorietta, Manila Bay), PowerPlant Cinemas, and Gateway Cinemas.

The festival’s theme this year is “Kaya Mo Ba?” (Can you handle it?) with each of the eight competition films given a P3 million production grant.

“We tried to cover all film genres. When you watch the films, you will be enlightened and lightened will the themes of the entries. It’s not all dark,” Ronald Arguelles, festival director and channel head of Cinema One, said during a press conference on Oct. 22 at the Dolphy Theater, Quezon City.

Four of the films are the debut features of their respective directors like J.E. Tiglao’s Metamorphosis, a coming-of-age drama about intersexuality “that’s as wistful as it is provocative,” said a press release. The film stars Gold Aceron, Iana Bernardez, Ivan Padilla, Ricky Davao, and Yayo Aguila.

Another full-length feature debut is Eve Baswel’s Tia Madre, a gothic horror film about a young girl who starts to suspect her mother has been changed into something not quite human; as is Dustin Celestino’s Utopia, a riff on the noir genre which brings together a freelance videographer, a rookie police officer, an undercover PDEA agent, and a crime in progress while a comet flies over Manila. Tia Madre stars Cherie Gil and Jana Agoncillo while Utopia stars Enzo Pineda, Joem Bascon, and Aaron Villaflor.

Nigel Santos is also presenting his debut entry, Yours Truly, Shirley, a film about a widow who believes a young pop star is the reincarnation of her late husband. The film stars Regine Velasquez and Rayt Carreon.

Among the other four competition films are Lucid by Victor Villanueva, which is about a lucid dreamer who meets a mysterious person she can’t control in her dreams, starring Alessandra de Rossi and JM de Guzman; and O by Kevin Dayrit, a black comedy about vampires and drug-dealing which stars Anna Luna, Jasmine Curtis-Smith and Lauren Young.

O is an exercise in giving the most clichéd concepts and genres a new flavor. It’s the same old hotdog, just dipped in peanut butter. It tastes offensive but funny at the same time,” Mr. Dayrit said of his film in the release.

In Sila Sila, Giancarlo Abrahan explores an LGBT story about “ghosting” or the practice of leaving a person hanging once the other party wants to stop the relationship. The film stars Topper Fabregas and Gio Gahol.

Denise O’Hara’s Tayo Muna Habang Hindi Pa Tayo might be a romantic-comedy at first glance — it stars JC Santos and Jane Oineza — but is a film about the “underside of trauma that even the truest of loves have,” according to a press release.

Aside from the competition films, Cinema One Originals opens with The Witch by Robert Eggers, a period horror film that is said to be as much about religious hysteria as it is about the rational world being encroached by the irrational. It opens on Nov. 7, 7 p.m., at the Ayala Malls Manila Bay Cinema 7.

The festival closes with Mikhail Red’s noir film, Dead Kids, which follows a group of entitled teenage misfits who visit their own skewed version of justice on the school jock who also happens to be the child of a drug lord and whom they decide to kidnap for ransom. The film will be screened on Nov. 17, 9:50 p.m., at Gateway Cinema 5.

Also included in this year’s festival programming are restored classics from ABS-CBN Film Restoration and FPJ Studios: Aguila (1980) by Eddie Romero, Bulaklak sa City Jail (1984) by Mario O’Hara, Misteryo sa Tuwa (1984) by Abbo dela Cruz, Bad Bananas sa Puting Tabing (1983) by Peque Gallaga, Tisoy (1977) by Ishmael Bernal, and Carlitos Siguion-Reyna’s Hihintayin Kita sa Langit (1991) and Saan Ka Man Naroroon (1993).

For the complete screening schedule, visit the Cinema One Originals Facebook page. — Zsarlene B. Chua

PHirst Homes to launch 3 more projects next year

By Vincent Mariel P. Galang
Reporter

PHIRST Park Homes, Inc. is targeting to launch as many as three projects, mostly in northern Luzon, next year.

“Next year, we’re launching at least two, or possibly three, and (it’s also) balanced din s’ya, north and south, but I think we will be more going towards north this time,” PHirst Park Homes President and Chief Executive Officer Ricky M. Celis told reporters after the launch of its fourth affordable housing project in Pandi, Bulacan on Oct. 19.

“Hopefully after Pandi, there is something in Pampanga,” he said, adding they are also looking at Quezon province for another project.

The newly launched PHirst Park Pandi covers 11 hectares out of the planned 18 hectares, with an initial inventory of P1.6-billion worth of units out of the estimated P2.9 billion in sales revenues.

This is the affordable housing brand’s fourth project after Tanza in Cavite, Lipa in Batangas, and San Pablo in Laguna, bringing its total foot print to 75.2 hectares and 7,908 units worth P13.3 billion.

Located near the Pandi Municipal Hall and Immaculate Conception Parish, PHirst Park Pandi offers a two-storey homes — Unna, a single-detached unit and Calista, a townhouse type of unit. Floor areas range from 40 square meters (sq.m.) to 54 sq.m., with prices ranging from P1.3 million to about P3 million, mainly targeting middle income families.

This year, the affordable housing unit of Century Properties Group, Inc. (CPG) is set to launch another project in Barangay Palo Alto in Calamba, Laguna next month.

Mr. Celis also said that the company’s projects in the south, specifically in Lipa and in San Pablo, are already up for expansion.

Baka mag-expand tayo (We might expand) faster than expected. May tinitignan na kaming (We are already looking for its) expansion niya because the way things are going, it’s going to be sold faster than we expected. Same with Lipa. We’re actually now in the prices of acquiring an expansion,” he said.

PHirst Park San Pablo covers 18 hectares, while PHirst Park Lipa covers 19 hectares.

Mr. Celis said that the company is also eyeing to expand to Visayas and Mindanao, but only after it establishes itself in Luzon.

“Visayas is in the pipeline, but we’re looking at starting 2021 or 2022, so magpapagaling tayo dito sa malapit sa atin, ‘pag medyo okay na tayo (we will develop first in areas near us, then if we are already okay), then we will venture into Visayas and Mindanao,” he said.

PHirst Park Homes is a joint venture between CPG and Mitsubishi Corp.

The four projects are part of the 15 master planned communities with P57 billion in total sales, which will be continuously rolled out in the next four years to help address the housing backlog in the Philippines currently at 6.6 million.

Cebu Landmasters to issue P2-B corporate notes

CEBU Landmasters, Inc. (CLI) is issuing corporate notes to raise P2 billion to fund its capital expenditures and general corporate expenses.

The listed property developer said in a stock exchange disclosure yesterday it has signed a notes facility agreement with ALFM Peso Bond Fund, Inc. and ALFM Money Market Fund, Inc. for the 18-month debt security. The notes will have an initial fixed rate of 4.75%.

The proceeds will finance the company’s expansion plans, particularly land acquisition.

“CLI has several strategic land acquisitions lined up in greater Cebu, Bacolod, and Davao, with new expansion areas such as Iloilo, Butuan, and General Santos City also on the horizon,” it said.

CLI tapped BPI Capital Corp. to arrange the bond issuance.

The company in April said it is allocating P13 billion in capital expenditures this year, as it launches 29 new projects that can generate sales of about P25 billion. This means an additional 7,517 residential condominium units, 1,223 hotel rooms, and 161,034 square meters of gross leasable area under its portfolio.

The Cebu-based developer is aiming to reach a consolidated net income of P2.6 billion and parent net income of P2 billion by the end of 2019.

In the first semester of the year, CLI booked an attributable net income of P854.34 million, an increase of 13% from a year ago, driven by a 34% jump in revenues to P3.5 billion. — Denise A. Valdez

All reality shows all the time

THERE’S A new streaming service on the block and this time it’s focused on making sure people get their daily dose of reality drama — from Keeping Up With the Kardashians to Vanderpump Rules — from NBCUniversal and it’s called Hayu.

Pronounced like “hey, you,” the streaming service prides itself as a service that’s dedicated to reality content, a segment of the market that is “not met by other [streaming] services,” Hendrik McDermott, SVP brand on-demand and managing director of Hayu in an e-mail interview with BusinessWorld on Oct. 28.

The service, which launched in 2016, is currently available in 14 markets including the UK, Australia, Denmark, Belgium, and now the Philippines, Singapore, and Hong Kong.

“As in the other countries where we have launched, there’s a gap in the market for an OTT* Unscripted service for young females and Hayu super-serves this audience with content they love,” Mr. McDermott said.

“While we don’t share subscriber numbers, we are extremely pleased with the momentum we’ve achieved for Hayu since the launch — three and half years ago — as evidenced by our steady expansion,” he added.

Offering “over 7,000 episodes of top reality content” with “750 episodes added to the service each year and complete box sets allow fans to catch up on almost every series from the very beginning,” Hayu features series such as Keeping Up With the Kardashians, Vanderpump Rules, The Real Housewives, and Dance Moms. There’s also a selection for fans of true crime and home design shows.

The majority of the US shows on the service will debut the same day as their US launch. The service also allows subscribers to download episodes to view at their leisure.

Three years after its launch, the service has decided to expand into Southeast Asia since it “has all the right ingredients to break through Southeast Asia.”

“Specifically, we know from our local research that the Philippines has a huge appetite for high-quality reality content, which NBCU International has in abundance,” Mr. McDermott said.

The service is offered at P149 a month and is available for download in Google Play and the iTunes App Store and on web browsers.

* “Over-The-Top” refers to streaming content over the web. — Zsarlene B. Chua

BDO income rises in 3rd quarter

BDO UNIBANK, Inc. (BDO) saw its net income surge in the third quarter of the year due to higher recurring core revenues.

The Sy-led lender saw its net earnings jump by 43.35% to P11.967 billion in the July-September period from P8.348 billion a year ago, its quarterly report released yesterday showed.

This brought its nine-month income to P32.1 billion, up 49.3% from the P21.5 billion reported in the same period in 2018.

The bank said in a separate statement that the increase in its net earnings was mainly driven by the expansion in its recurring core revenues, translating to a 12.5% return on common equity.

With “improved” net interest margins, the lender’s net interest income grew 23.54% to P31.54 billion in the third quarter from P25.53 billion in the same period last year, taking it to P88.5 billion at end-September.

Its customer loans went up six percent to P2.1 trillion as of end-September, which the bank said was on the back of a sustained increase in credit to both the middle-market and consumer segments. Its gross nonperforming loan ratio (NPL) was maintained at 1.2%, while the NPL cover was at 168.2%

Meanwhile, the bank’s deposits went up by three percent year-on-year to P2.4 trillion during the first nine months. Low-cost current account savings account deposits accounted for 72% of this total, growing by six percent year-on-year.

Its total income from other operations likewise grew to P14.61 billion in the third quarter, up by 12.85% from the P12.95 billion from a year ago, bringing the nine-month total to P44.1 billion.

Broken down, earnings from service charges, fees and commissions grew 12.95% to P7.85 billion in the third quarter from P6.77 billion last year, trust fees went up around 10% to P905 million from last year’s P823 million, insurance premiums jumped 26.13% to P3.91 billion from P3.1 billion, and miscellaneous income inched up by 1.61% to P1.26 billion from the year-ago figure of P1.24 billion.

Meanwhile, trading and foreign exchange gains in the third quarter declined to P690 million from the P1 billion recorded a year ago, taking the nine-month total to P4.3 billion, a “normalized level compared to 2018 when a more volatile environment prevailed,” BDO said.

EXPENSES GROW
The bank’s total operating expenses grew 17.65% to P29.33 billion last quarter from P24.93 billion a year ago. In the nine months ended September, BDO’s operating expenses also climbed 20% to P85.8 billion, mainly from business expansions and volume-related expenses such as taxes and licenses and policy reserves in its life insurance subsidiary, BDO Life Assurance Company, Inc. which grew 42%, the bank said.

“Excluding volume-related expenses, operating expenses should have risen by 14%,” it added.

The lender has set aside provisions worth P4.2 billion as the it “maintained its conservative credit and provisioning policies.”

Meanwhile, the bank’s capital base grew to P364 billion, with its common equity Tier 1 ratio at 13.1% and capital adequacy ratio at 14.6%.

“With its focused growth strategy, strong business franchise, solid balance sheet and extensive geographic reach, the bank remains solidly positioned to capitalize on the country’s solid economic pace and growth opportunities in underserved and emerging markets,” the bank said.

Currently, BDO has over 1,300 operating branches and more than 4,400 automated teller machines across the country.

As of June 30, the bank said it was the largest bank in the country in terms of total assets, loans,deposits and trust funds under management.

BDO shares closed at P152 apiece on Monday, up P4.20 or by 2.84%. — Beatrice M. Laforga

Damosa Land says third IT Park building set to open in 2020

DAVAO CITY — Damosa Land, Inc. (DLI) is on track with the completion of its 15-storey Diamond Tower, the third building within its Damosa IT Park, by early 2020, an official of the Floirendo-owned company said.

“We only started this in December of last year and to date we have about seven floors already and we are looking to top off the building by end of the year, hopefully,” DLI First Vice-President Ricardo F. Lagdameo said in an interview last week.

Mr. Lagdameo said demand for office space in Davao City remains robust with the influx of new businesses as well as the expansion of existing firms.

Among the current locators at the Damosa IT Park, a Philippine Economic Zone Authority-accredited facility, are business process outsourcing firm Concentrix, various information technology companies, and global office space provider Regus.

In July, he said several knowledge process outsourcing companies have signed up for space at the Diamond Tower, which will have a total floor area of 20,000 square meters.

Mr. Lagdameo said they are also positioning the new building to become another Davao City landmark, with its architectural design inspired by banana and abaca leaves.

DLI is the real estate arm of Anflo Management and Investment Corp., whose flagship is Tagum Agricultural Development Company, Inc., one of the biggest fresh banana exporters in the country. — Maya M. Padillo

Blind audition highlight of new competition show

IN 2011, The Voice popularized blind auditions with judges hearing contestants without actually seeing them. If sufficiently impressed, the judges would turn their chairs and see the contestant for the first time. The concept was so popular that it became a franchise — the Philippine has its own version that has been running for several years. This year, ABS-CBN is making a case for a revolving set in Your Moment, where the judges and the audience will switch stages to see contestants perform.

The concept is by ABS-CBN in partnership with Dutch production company Fritz Production.

The show’s contestants — it starts airing on Nov. 9 — will come from all over the world, with contestants from Japan, India, and the Philippines, among others.

The show is a dancing and singing contest where pairs or groups compete in singing or dancing.

The judges — talk show host and talent manager Boy Abunda, and actor/singers Nadine Lustre and Billy Crawford — will mark the contestant on three separate occasions during their performance using an “emotion meter” which will reflect scores — 1 to 10 — in real-time.

“We have a lot of great talents on the show — there’s one group that hasn’t had time to practice before the show but onstage they were amazing,” Mr. Abunda said during a press conference on Oct. 21 at the Dolphy Theater in Quezon City.

The number of talents that joined the show also makes the judging process and the competition itself very difficult.

“This is not for the faint-hearted. Competition is tough,” Mr. Abunda explained.

The show will be hosted by Vhong Navarro and Luis Manzano. — ZBC

RCBC eyes P3B from bonds

RIZAL Commercial Banking Corp. started offering three-year bonds on Monday.

RIZAL COMMERCIAL Banking Corp. is looking to raise at least P3 billion via three-year peso-denominated bonds, part of a fund-raising program that aims to extend the maturity of the bank’s liabilities and strengthen its liquidity ratios.

In a disclosure to the local bourse on Monday, the bank said the bonds, which will mark the third issuance out of its P100-billion bond and commercial paper program, are being offered at a fixed interest rate of 4.426% per annum.

The offer period for the bonds started yesterday and is set to end on Nov. 6. The papers are scheduled to be listed on the Philippine Dealing and Exchange Corp. on Nov. 13.

Standard Chartered Bank was appointed as the sole arranger and book runner for the transaction.

The lender’s Board of Directors approved in July the increase in its bond program to P100 billion from P30 billion.

RCBC first tapped the local bond market in February, issuing P15 billion in ASEAN green bonds. It also issued P8 billion in sustainability bonds in June.

BAYAD CENTER TIEUP
Meanwhile, RCBC said it has inked a deal with CIS Bayad Center, Inc. for the integration of the bank’s digital basic account, lending, and Malayan’s insurance products into the mobile app of Bayad Center.

“The inclusion of bank and insurance products into Bayad Center’s mobile app will enable its over 10 million customer base to have seamless access to basic banking transactions such as savings account opening, loan application, travel, health and personal accident insurance, making basic financial products more accessible and convenient for every Filipino,” the lender said in a separate statement on Monday.

Through the partnership, a cash-in and cash-out facility for RCBC’s Diskartech initiative which offers digital financial services such as micro-insurance, micro-financing, bills payment, as well as gaming e-load will be available in 34,000 Bayad Center touch points. The deal also includes the deployment of the bank’s mobile automated teller machines in 500 Bayad Center Branches which can be used by beneficiaries of conditional cash transfers who need to encash with their card issued by the Land Bank of the Philippines.

Moreover, the tie-up will launch the Bankard-Bayad Center utility credit card which is the first of its kind that can be used for enrollment and automatic payment of customer’s monthly bills.

Over 2,000 billers of the Bayad Center will also be available in RCBC’s mobile app, online banking and Diskartech.

“In compliance with data privacy laws, RCBC will also utilize the alternative credit scoring algorithm for new-to-credit Filipinos enabling Bayad Center app users to quickly avail of affordable and immediate access to credit,” the lender said in a statement, noting that credit conditioning will be done through the consumer’s utility bill payment behavior with their explicit consent.

RCBC’s net profit in the second quarter jumped 31.78% to P1.356 billion from P1.029 billion in the same period in 2018.

The bank’s shares closed unchanged at P25.90 apiece on Monday. — L.W.T. Noble

Alveo hopes Laguna commercial district will attract entrepreneurs, investors

ALVEO LAND, INC. is looking to attract local entrepreneurs and investors to the commercial district of its 120-hectare estate Broadfield in Biñan, Laguna.

Alveo is the lead developer for the Broadfield distrct, which is located a short drive from Laguna’s International Industrial Park and the Laguna Technopark, and is adjacent to the De La Salle University Science and Technology Complex.

It is also close to the area’s automotive factories, and the manufacturing plants of Nestlé Philippines, Inc. and Coca-Cola Beverages Philippines, Inc., among others.

Alveo allocated 80 hectares for the commercial and mixed-use district, while 40 hectares is for residential subdivisions Venido and Aveia which have previously been launched.

For the first phase, Alveo is offering 36.6 hectares for commercial use, composed of 35 lots sized from 1,324 square meters (sq.m.) to 2,915 sq.m. The commercial district is located on the northwestern part of the estate.

“Broadfield’s location sets it at the heart of South Luzon’s thriving residential, leisure, industrial and manufacturing center. We have a well-designed master plan that applies the best practices of Ayala Land in property development. This district will be innovative, sustainable and progressive,” Alveo Land Chief Operating Officer Rufino Gutierrez said in a statement.

Alveo sold P2.8 billion worth of commercial lots on the first day of its sales launch.

In a briefing, Mr. Gutierrez said most buyers are local investors and entrepreneurs. He noted companies are planning to put up office buildings in the area.

“From the first day of selling, we have people from different industries. Most are from real estate and construction. We also have a couple from the pharma[ceutical] industry. We also have automotive and agricultural industries,” he said.

Turnover of the first phase is expected by 2023.

Ten percent or around eight hectares of the estate is allocated to parks and open spaces, while the streetscapes will have bike lanes and shaded pedestrian walkways.

As part of the estate’s sustainability efforts, Broadfield will have its own storm water management system and detention ponds for rainwater collection, solar and alternative energy sources for lighting, efficient waste reduction systems, and energy and water-efficient fixtures.

Alveo said Broadfield’s commercial locators will be required to comply with the Philippine Green Building Code.

Broadfield is currently accessible through the South Luzon Express Way (SLEX), but will also be reached through road networks currently in construction, including the Cavite-Laguna Expressway (CALAX) and the Cavite-Tagaytay-Batangas Expressway (CBTex). — J.P.Ibañez

TV5 to add entertainment programs

TV5 Network, Inc. will be adding more entertainment programs “next year” to attract more viewers, TV5 and CignalTV President and Chief Executive Officer Jane J. Basas said on Monday.

Asked if the network is planning to review its programming, Ms. Basas replied: “We are… So what we want to do is to really maximize the other blocks in our daily grid to make sure that it appeals to more and more customers.”

“Certainly not this year. This year is really a review of what has happened in the past. A review of what has worked and what has not. Most likely next year. Not even early first quarter,” she told reporters on the sidelines of the Smart “Get Gold!” launch event in Makati City on Monday.

Ms. Basas said the network’s strengths are its sports and news programs.

“We will stay that way,” she said, adding that the contract to air Philippine Basketball Association (PBA) games remains one of the company’s most profitable investments.

“Right now we do have the primetime dedicated to sports and that will stay. News will also have to stay at the current block, but everything else, from morning to late night, is open to entertainment,” Ms. Basas said.

Ms. Basas said the company’s financial performance has been improving.

“TV5 has improved on a year on year basis. In terms of losses, we have been able to manage the losses again because the decision to go into sports has actually allowed us to become more efficient on how we program the grid,” she said.

TV5 Network primarily broadcasts sports and news programs, through ESPN and News5. Its franchise was first granted in December 1994, under Republic Act No. 7831.

The network’s franchise was renewed for another 25 years after Republic Act (RA) No. 11320 lapsed into law on April 22, 2019, without President Rodrigo R. Duterte’s signature.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Sorry Scorsese, but superhero movies are art

By Stephen L. Carter, Bloomberg Opinion

I RECENTLY saw Joker, the controversial film detailing the origin of comicdom’s best-known villain. The movie was both engrossing and exhausting. I can’t remember the last time I witnesses an audience so stunned that it exited the theater in perfect silence. Though afterward I pondered many issues Joker raised, I never wondered whether the film counted as actual cinema.

Yet according to two of the greatest directors of all time, that’s the question I’m supposed to be asking.

“That’s not cinema,” says Martin Scorsese. His target is the Marvel Cinematic Universe, but by extension he is describing superhero movies generally, and perhaps the larger world of sci-fi, horror, apocalypse, and fantasy that rakes in the big-screen money nowadays. “It isn’t the cinema of human beings trying to convey emotional, psychological experiences to another human being.”

His longtime friend Francis Ford Coppola essentially agrees: “Martin was kind when he said it’s not cinema. He didn’t say it’s despicable, which I just say it is.” Marvel, says Coppola, just makes “the same movie over and over again.” Why isn’t it cinema? Because from cinema, “we expect to gain something, some enlightenment, some knowledge, some inspiration.”

Certainly the success of superhero movies renders them fair subjects of criticism. To borrow from George Eliot’s attack on Charles Dickens, they are “not entitled to the protection of insignificance.” And the opinions of heavyweights like Coppola and Scorsese deserve weighty consideration.

Yet one wonders why exactly we must travel this bumpy road again. Back in 2012, noted horror director David Cronenberg called superhero movies “adolescent.” As for those lavishing praise on Christopher Nolan’s trilogy of Batman movies, Cronenberg declared “I don’t think they know what the f— they’re talking about.”

We see the same vituperation in other fields of art. One need only recall the late literary critic Harold Bloom’s vehement denunciation of Stephen King upon the occasion of the latter’s receipt of an award from the National Book Foundation in 2003. Perhaps King is seen as the literary equivalent of superhero movies. A cottage industry of critics lobs attacks his way with some regularity.

One way to look at such contretemps as these is that we simply see artists trying to police the boundaries of their craft. This artists have done since time immemorial — and since time immemorial, the answer has been the same. As Leo Tolstoy noted in his monograph “What is Art?” the task of classification creates serious risks: “If we exclude from the domain of art all that to which the critics of various schools themselves deny the title, there is scarcely any art left.”

But I suspect that there’s more going on here. The media reports have not quite found the right frame. Coppola, for instance, isn’t new to this battle. Properly understood, his attack isn’t really on any particular movies. It’s on the executives who decide which films get the green light. A few years ago, in a wide-ranging interview with the journalist Aristan Anderson, Coppola identified true art with risk. Commercialism was the enemy: “You try to go to a producer today and say you want to make a film that hasn’t been made before; they will throw you out because they want the same film that works, that makes money.”

The true distinction Coppola is drawing is between projects that earn out and projects that don’t. He would prefer a system in which films could be made without regard to their prospects for commercial success. To be an artist is, in this sense, to create something new.

That’s where the risk comes in.

By this logic, the filmmaker who submits to the studio’s demands for “the same film that works” might be successful, but is not an artist. The claim is familiar across genres. John Updike famously dismissed the writer who writes for money as “a vulgarity.” The idea is that if the artist creates art for money, then the driving force of creation is something other than the artist’s own creative imagination. Having the wrong motivation makes art less pure.

I’m not so sure. The 19th century Shakespearean scholar Horace Howard Furness stated flatly that the Bard wrote Titus Andronicus, his first tragedy, for the money. Donatello’s bronze David, one of the great sculptures in history, was likely created at the behest of banker Cosimo de’ Medici. The exquisite string quartets that make up Beethoven’s Opus 18 were commissioned by Prince Lobkowitz of Bohemia. Yet no one will deny the status of any of these as art.

This doesn’t mean we can’t draw distinctions. We simply have to be careful about how. The fact that a painting isn’t good enough to hang on a museum wall need not deny its status as art. The art in the museum is just better.

This brings us back to Joker. It’s hard to deny that the film (to borrow Scorsese’s definition) concerns “human beings trying to convey emotional, psychological experiences to another human being.” It’s this very quality that has led some critics to complain that the viewer is “almost tricked into” sympathizing with an essentially monstrous character who “could be taken as an avatar for the incel movement.” But generating empathy for a foreign and even offensive point of view isn’t a trick; it’s part of what art is supposed to do. It’s when we make the mistake of judging quality by whether a work affirms the worldview we held before experiencing it that we really do wind up seeing, as Coppola said, “the same movie over and over again.”

One can find virtue in multiple forms. I consider François Truffaut’s masterpiece Day for Night one of the greatest films ever made. I am second to no one in my admiration for The Godfather. (And if you ever want to play Godfather trivia, I will spot you two points and still win.) But I also consider Joker to be serious, thoughtful filmmaking, and Black Panther to be a magnificent artistic achievement.

No, I’m not saying that any superhero movie belongs in the pantheon of greatest-ever-made. But I still think they’re cinema and can be very fine cinema indeed. Maybe I’m a lowbrow. Sue me.