China's daily box office reached a new milestone on Wednesday, the Spring Festival, also known as Chinese New Year, generating an impressive record of 1.805 billion yuan ($249 million) in earnings.
According to the China Film Administration (CFA), both the box office revenue and the number of moviegoers, which totaled 35.15 million on that day, surpassed the previous records set during the 2021 Chinese New Year.
The annual Spring Festival holiday, which runs from January 28 to February 4 this year—one day longer than in previous years—is one of China's most lucrative movie-going seasons. Cinema enthusiasts flocked to theaters nationwide, contributing to the unprecedented surge in ticket sales.
Leading the box office charts are six domestic films that debuted on Wednesday, spanning a diverse range of genres including Chinese mythology, wuxia (which features martial arts and chivalry), comedy, fantasy, animation, and drama.
Huajin Securities noted that these new releases cater to various audience groups, emphasizing that many are installments in highly rated, high-grossing franchises with strong reputations and large fan bases. This diversity has been instrumental in attracting a wide spectrum of moviegoers.
Since December last year, the CFA has encouraged relevant institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies. Analysts believe this move is aimed at unlocking the full consumption potential of audiences, further boosting the film industry's growth.
Looking ahead, Kaiyuan Securities predicts that total box office takings will see a 6.7 percent year-on-year increase to reach 8.54 billion yuan during the 2025 Spring Festival holiday. The optimistic forecast reflects confidence in the sustained momentum of China's film market and the cultural significance of the Spring Festival as a peak time for entertainment consumption.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
