China's Box Office Sets New Record During Spring Festival
China's film industry has kicked off the Lunar New Year with a bang, setting a new daily box office record during the Spring Festival. On Wednesday, the first day of the festival, box office revenues soared to an unprecedented 1.805 billion yuan ($249 million), according to the China Film Administration (CFA).
An impressive 35.15 million moviegoers flocked to cinemas across the country, surpassing previous records set during the 2021 Chinese New Year. Both the box office earnings and audience numbers highlight a robust resurgence in China's cinematic landscape.
The Spring Festival holiday, running 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 extended festivities have provided an even greater opportunity for audiences to engage with new cinematic releases.
Leading the charge are six domestic films that debuted on Wednesday. These films span a diverse array of genres, including Chinese mythology, wuxia—which features martial arts and chivalry—comedy, fantasy, animation, and drama. This variety caters to the wide-ranging tastes of China's moviegoing public.
Analysts from Huajin Securities have noted that many of these films are installments in highly acclaimed, high-grossing franchises with strong reputations and dedicated fan bases. The diversity and quality of offerings are expected to drive sustained box office success throughout the holiday period.
Since December, the CFA has been proactive in stimulating the film market by encouraging institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies. This initiative aims to unlock the full consumption potential of audiences and support the industry's ongoing growth.
Looking ahead, Kaiyuan Securities predicts a promising future for China's box office takings. They anticipate a 6.7 percent year-on-year increase, with revenues expected to reach 8.54 billion yuan during the 2025 Spring Festival holiday.
As the festivities continue, the Chinese film industry appears poised for a prosperous new year, delighting audiences and setting new benchmarks in cinema.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
