The Chinese New Year, a time traditionally marked by family gatherings and celebrations, has once again transformed into a colossal extravaganza for the film industry. The box office reported a stunning 1.8 billion yuan (approximately $248.3 million) generated on the inaugural day of the holiday period, smashing the previous record set in 2021 at 1.69 billion yuan. This remarkable fiscal performance indicates a revitalization of the Chinese box office, which has faced several challenges in recent times.
One notable high point in this year’s box office figures is the exceptional performance of IMAX screenings. The format recorded a groundbreaking $12 million on its first day, eclipsing the previous peak of $11 million from 2021. Such a feat is particularly impressive given that IMAX only represents about 5% of the total box office revenue and operates on less than 1% of the total cinema screens. This achievement reflects a sharp increase in attendance, with 1.2 million viewers flocking to IMAX theaters—an unprecedented number for a first day.
Leading the charge in box office revenues was “Ne Zha 2,” the much-anticipated sequel to the animated hit of 2019. The film grossed an impressive 486.6 million yuan (around $67.1 million). This success was further cemented by its own IMAX gross of $2.5 million, showcasing strong audience interest in high-quality cinematic experiences. Following closely was “Detective Chinatown 1900,” directed by Chen Sicheng. This film, featuring renowned actors Chow Yun-Fat and John Cusack, earned approximately 464.4 million yuan ($64 million), marking it as a solid contender in a competitive release schedule.
The third position was claimed by the visually captivating “Creation of the Gods II: Demon Force,” which raked in about 382.8 million yuan ($52.8 million), along with an impressive IMAX earnings of $4 million. The film, associated with Alibaba, has certainly captured audience interest and adds a striking fantasy element to the holiday viewing options.
This auspicious beginning for the Chinese New Year box office can also be attributed to effective government initiatives aimed at stimulating consumer interest in cinemas. A promotional campaign instituted by the China Film Administration in December has introduced subsidies totaling 600 million yuan (around $83 million). These financial incentives encourage the public to visit theaters and are instrumental in generating the astounding pre-sale figures recorded before the holiday. Reports indicate pre-sale tickets reached 600 million yuan ($83 million) as of the preceding Sunday, and surged past the one billion yuan ($137.9 million) mark by Tuesday evening.
Moreover, the promising landscape for the box office seems to counterbalance the struggles of 2024, which saw total annual grosses decline by 25%, resting at around $5.9 billion. The prior year was marred by economic concerns and a lack of major local blockbusters. Thus, the current box office surge appears to be a welcome recovery for an industry once beleaguered by challenges.
As the Spring Festival unfolds, media analysts are observing the ongoing performances of different films keenly. Early social media scores for the recent releases range impressively between 9.2 and 9.7, indicating general audience satisfaction. Box office predictions can be volatile in the initial days, but current estimates suggest “Ne Zha 2” may ultimately gross around 4.9 billion yuan ($675.8 million), while the projections for “Detective Chinatown 1900” and “Creation of the Gods II” stand at 3.6 billion yuan ($496.5 million) and 2 billion yuan ($275.8 million) respectively.
The anticipation surrounding the box office outcome is heightened by the extended holiday this year, which runs through February 5. As Chinese audiences gear up for a week of festivities, the excitement surrounding these cinematic offerings only deepens.
This year’s Lunar New Year box office exhibits remarkable promise amidst the challenges of recent years. With strong performances on key titles and effective promotional strategies, the Chinese film industry could be poised for a remarkable resurgence, one that film fans will be eager to witness as the holiday progresses.