BEIJING—China has set a new box office record during the Spring Festival, with daily revenues reaching an unprecedented 1.805 billion yuan (approximately $249 million) on Wednesday. The remarkable achievement underscores the robust recovery of the Chinese film industry and the eagerness of audiences to return to theaters.
On the day of the Spring Festival, also known as Chinese New Year, cinemas across the nation welcomed an astounding 35.15 million moviegoers. Both the box office earnings and the number of attendees surpassed the previous records set during the 2021 Chinese New Year holiday, according to the China Film Administration (CFA).
The Spring Festival holiday, spanning from January 28 to February 4 this year—one day longer than previous years—is traditionally one of the most lucrative periods for the Chinese film industry. This extended holiday has provided an additional boost to cinema ticket sales.
Leading the box office are six highly anticipated domestic films that debuted on Wednesday. These movies span a diverse array of genres, including Chinese mythology, wuxia (martial arts and chivalry), comedy, fantasy, animation, and drama. The variety caters to a wide range of audience preferences, offering something for everyone during the festive season.
Huajin Securities observed that these new releases are part of well-established franchises with strong reputations and dedicated fan bases. \"The diversity in genres and the popularity of these franchises are key factors driving the impressive box office performance,\" the firm noted.
In an effort to stimulate consumption, the CFA has encouraged relevant institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies since December last year. Analysts believe this move aims to unlock the full spending potential of movie enthusiasts and support the domestic film industry.
Looking ahead, Kaiyuan Securities predicts a continued upward trend in box office revenues. The firm forecasts a 6.7 percent year-on-year increase in total box office takings, potentially reaching 8.54 billion yuan during the 2025 Spring Festival holiday.
The unprecedented success of this year's Spring Festival box office not only reflects the vitality of the Chinese film market but also signals a strong recovery in consumer confidence. As audiences flock back to cinemas, the film industry is poised for a vibrant future.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
