China's film industry has reached a new milestone, setting a record daily box office revenue of 1.805 billion yuan ($249 million) on Wednesday during the Spring Festival, also known as Chinese New Year.
According to the China Film Administration (CFA), a total of 35.15 million moviegoers visited cinemas on that day, surpassing previous records set during the 2021 Chinese New Year. The surge in attendance and revenue highlights the robust recovery and growing strength of China's film market.
The Spring Festival holiday, one of the most lucrative movie-going seasons in China, runs from January 28 to February 4 this year, extending one day longer than in previous years. This extended holiday period offers more opportunities for audiences to enjoy the latest cinematic releases.
Leading the box office charts are six new 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, catering to a wide array of audience preferences.
Huajin Securities noted that these six releases not only cover various genres but are also installments in highly rated, high-grossing franchises with strong reputations and large fan bases. This diversity and familiarity have attracted audiences back to the cinemas in large numbers.
Since December last year, the CFA has encouraged relevant institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies. Analysts believe this move aims to unlock the full consumption potential of moviegoers and further boost the film industry's growth.
Looking ahead, Kaiyuan Securities predicts that total box office revenues will see a 6.7% year-on-year increase, reaching 8.54 billion yuan during the 2025 Spring Festival holiday.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
