China's film industry celebrated a monumental achievement on Wednesday as the country's daily box office revenue soared to a new high during the Spring Festival, also known as Chinese New Year. The nation generated an impressive 1.805 billion yuan (approximately $249 million) in a single day, according to the China Film Administration (CFA).
With 35.15 million moviegoers flocking to cinemas nationwide, both the box office revenue and the number of attendees eclipsed previous records set during the 2021 Chinese New Year. The Spring Festival holiday, which runs from January 28 to February 4 this year—one day longer than in previous years—has solidified its status as one of China's most profitable periods for the film industry.
Leading the charge were six new domestic film releases debuting on Wednesday, spanning a diverse array of genres such as Chinese mythology, wuxia (martial arts and chivalry), comedy, fantasy, animation, and drama. This eclectic mix catered to a wide spectrum of audience preferences, contributing to the record-breaking turnout.
Huajin Securities observed that many of these films are part of highly acclaimed and commercially successful franchises, boasting strong reputations and dedicated fan bases. The appeal of familiar storylines and beloved characters played a significant role in drawing crowds back to theaters.
In an effort to stimulate the industry and unlock the full potential of consumer spending, the CFA has been encouraging relevant institutions since December to allocate around 600 million yuan in moviegoing consumption subsidies. Analysts suggest that these incentives have significantly contributed to the surge in attendance and revenue.
Looking ahead, Kaiyuan Securities predicts a continued upward trend for China's film market. They forecast that total box office takings during the 2025 Spring Festival holiday could reach 8.54 billion yuan, marking a 6.7 percent year-on-year increase.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
