China's film industry has ushered in the Year of the Rabbit with a remarkable achievement. On Wednesday, marking the Spring Festival—also known as the Chinese New Year—the country's daily box office soared to a new high, generating an impressive 1.805 billion yuan (approximately $249 million) in revenue.
According to the China Film Administration (CFA), both the box office earnings and the number of moviegoers reached unprecedented levels. A record-breaking 35.15 million people flocked to cinemas nationwide, surpassing the previous records set during the 2021 Chinese New Year.
The Spring Festival holiday, traditionally one of China's most lucrative movie-going seasons, runs from January 28 to February 4 this year, extending one day longer than in previous years. The extended holiday has provided an ideal opportunity for the film industry to capitalize on the festive spirit and boost revenues.
Leading the box office charts are six newly released domestic films that debuted on Wednesday. These films span a diverse range of genres, including Chinese mythology, wuxia (martial arts and chivalry), comedy, fantasy, animation, and drama. This variety caters to the eclectic tastes of audiences across the nation.
Analysts from Huajin Securities have noted that these new releases are not only diverse but also part of highly rated, high-grossing franchises with strong reputations and dedicated fan bases. This combination has contributed significantly to the surge in box office revenues.
In an effort to stimulate the film industry and encourage consumption, the CFA has, since December last year, prompted relevant institutions to allocate approximately 600 million yuan in movie-going consumption subsidies. Industry experts suggest that these subsidies aim to unlock the full consumption potential of moviegoers, further bolstering box office numbers.
Looking ahead, Kaiyuan Securities predicts a positive trajectory for China's film industry. The firm forecasts that total box office takings during the 2025 Spring Festival holiday will see a 6.7 percent year-on-year increase, reaching 8.54 billion yuan. This optimistic outlook reflects the growing appetite for domestic films and the strength of China's cultural sector.
The record-breaking figures during this year's Spring Festival not only highlight the resilience of China's film industry but also underscore the importance of cultural consumption in driving economic growth. As audiences continue to seek diverse and high-quality entertainment options, the industry is poised for sustained success in the coming years.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
