Recent reports reveal that China’s annual box office has surpassed both the symbolic $7 billion and RMB 50 billion milestones, signaling a notable yet incomplete recovery for the cinematic industry. Artisan Gateway consultancy data indicates that the box office tally reached $7.15 billion by November 26, marking a significant 79% rebound from the pandemic-ridden year of 2022. However, this still falls 15% below the pre-COVID performance levels of 2019.
While the sluggish economy may be contributing to this trend, the irregular release of audience-friendly films is also playing a role. The industry appears to center around peak holiday periods, and distributors have recently delayed the launch of a major title until the Chinese New Year season in February 2024.
The weekend’s box office revenues reached $52.3 million, fueled by a fresh top five lineup and a successful debut of the crime thriller “Across the Furious Sea.” Directed by Cao Baoping, the film, adapted from his own novel, premiered on Saturday, contributing to its weekend performance from just two days of business.
“Beyond the Clouds,” officially opening on Friday after successful previews a week earlier, secured the second spot with $5.4 million, accumulating $7.6 million, including previews. Bona Media’s “Seven Killings” debuted in third place, earning $5.1 million.
In the animation realm, the Japanese film “New Dimension! Crayon Shinchan The Movie: Battle of Supernatural Powers – Flying Sushi” opened on Saturday, amassing $4.7 million over two days and claiming the fourth spot. Meanwhile, Disney’s “The Wish” earned $3.5 million over three days, securing the fifth position.
The struggle persists for Hollywood films in China, with Chinese productions dominating the market at an 84% market share in the ten months leading to the end of October. Imports, predominantly from Japan and the U.S., accounted for a mere 16% of the total $7 billion, reaching $1.12 billion. Even last week’s Hollywood release, “The Hunger Games: The Ballad of Songbirds and Snakes,” quickly dropped out of the top five, ranking around ninth with a 10-day cumulative total of approximately $8 million, according to local data providers.
