China's film industry has kicked off the Year of the Rabbit with a bang, setting a new daily box office record on the opening day of the Spring Festival. On Wednesday, moviegoers across the country spent a staggering 1.805 billion yuan (approximately $249 million), surpassing previous records and signaling a robust revival for cinemas nationwide.
The number of cinema attendees soared to 35.15 million, according to the China Film Administration (CFA). Both the box office revenue and the number of moviegoers exceeded the benchmarks set during the 2021 Chinese New Year, highlighting the growing enthusiasm for domestic films.
The Spring Festival holiday, which runs from January 28 to February 4 this year—one day longer than in previous years—is traditionally one of China's most lucrative periods for the film industry. This year's lineup is particularly diverse, featuring six domestic films that premiered on Wednesday. Genres span Chinese mythology, wuxia (martial arts and chivalry), comedy, fantasy, animation, and drama, catering to a wide array of audience preferences.
Industry analysts from Huajin Securities noted that these new releases appeal to various demographic groups and are often installments in well-established franchises with dedicated fan bases. \"The diversity of genres and the strong reputations of these films are key factors driving the record-breaking box office performance,\" they commented.
The CFA's strategic move since December to encourage institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies has further spurred audience turnout. These subsidies aim to unlock the full consumption potential of moviegoers, providing a significant boost to the industry.
Looking ahead, Kaiyuan Securities forecasts a continued upward trend, predicting a 6.7 percent year-on-year increase in total box office earnings, reaching 8.54 billion yuan during the 2025 Spring Festival holiday. Such optimistic projections underscore the confidence in China's film market and its pivotal role in the global entertainment landscape.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
