China's cinema industry has ushered in the Year of the Rabbit with a bang, setting a new daily box office record during the Spring Festival.
On Wednesday, the first day of the Chinese New Year, the country's box office soared to an unprecedented 1.805 billion yuan ($249 million), according to the China Film Administration (CFA). This remarkable achievement surpasses the previous records set during the 2021 Spring Festival, both in revenue and the number of moviegoers.
A staggering 35.15 million people flocked to cinemas nationwide, eager to partake in one of China's most anticipated movie-going seasons. This year's Spring Festival holiday stretches from January 28 to February 4, extending by an extra day compared to previous years, offering even more opportunities for cinematic enjoyment.
Dominating the box office charts are six newly released domestic films that debuted on Wednesday. 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 the eclectic tastes of China's vast audience.
Huajin Securities highlighted the significance of this diversity, noting that the new releases appeal to various audience groups. Many of these films are part of popular franchises with established reputations and loyal fan bases, contributing to their strong performance.
In an effort to unlock the full consumption potential of moviegoers, the CFA, since December last year, has encouraged relevant institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies. Analysts believe this move has played a crucial role in boosting the box office.
Looking ahead, Kaiyuan Securities predicts that total box office takings will see a 6.7 percent year-on-year increase, reaching 8.54 billion yuan during the 2025 Spring Festival holiday. This optimistic outlook reflects the growing enthusiasm for cinema in China and the potential for continued growth in the entertainment industry.
The record-setting numbers not only signify a robust start to the lunar new year but also underscore China's significant role in the global film market. As audiences continue to embrace domestic productions, the future of China's cinematic landscape looks brighter than ever.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
