China's film industry celebrated a historic milestone this Spring Festival, as daily box office revenues soared to an unprecedented 1.805 billion yuan ($249 million) on Wednesday. The Chinese New Year holiday, a peak period for movie-going, witnessed a remarkable turnout of 35.15 million moviegoers, according to data released by the China Film Administration (CFA) on Thursday.
The figures not only reflect a significant rebound in the country's film sector but also surpass the previous records set during the 2021 Chinese New Year. The holiday period, extending from January 28 to February 4 this year—one day longer than in previous years—has proven to be one of the most lucrative seasons for China's cinemas.
Dominating the box office are six newly released domestic films that debuted on the first day of the festival. These films span a diverse array of genres, including Chinese mythology, wuxia (martial arts and chivalry), comedy, fantasy, animation, and drama. This variety caters to a wide range of audience preferences, contributing to the robust box office performance.
Analysts at Huajin Securities noted that many of these films are part of well-established franchises with strong reputations and dedicated fan bases. \\"The diversity of genres and the continuation of popular series have been key in attracting audiences back to the cinemas,\\" the firm stated.
The CFA's strategic move since December to encourage approximately 600 million yuan in moviegoing consumption subsidies has also played a crucial role. These subsidies are aimed at unlocking the full consumption potential of moviegoers, stimulating the film industry as it recovers from the impacts of the pandemic.
Looking ahead, Kaiyuan Securities forecasts a continued upward trend in box office earnings. The firm predicts a 6.7 percent year-on-year increase, with total takings expected to reach 8.54 billion yuan during the 2025 Spring Festival holiday.
The record-breaking numbers not only signify a strong recovery for China's film industry but also highlight the nation's enduring enthusiasm for cinema during cultural festivities.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
