China's film market kicks off 2024 with record Spring Festival sales

During the Spring Festival holiday, watching movies is an increasingly popular activity for families and friends in China to celebrate their reunion, a trend that has contributed to the vibrancy of the country's film market in 2024.

As of 1:50 p.m. Saturday, box office revenue in China for the Spring Festival holiday (including pre-sale) has surpassed 7.84 billion yuan (approximately $1.1 billion), setting a new record for the Spring Festival period in China's film history, according to Dengta Pro, the data analysis arm of China's leading film-ticketing platform Taopiaopiao.

This surge in revenue during the festival is a testament to the broader recovery that China's film industry has experienced, particularly starting from 2023, with total box office revenue surpassing 54.9 billion yuan and nearly 1.3 billion tickets sold.

"During the early phase of this year's Spring Festival pre-sales, the ticket purchasing platforms offered discounts, making the actual ticket prices more affordable for viewers," said Chen Jin, a film data analyst.

For instance, in Beijing cinemas, tickets on Lunar New Year's Day were available for just 19.9 yuan. During this Spring Festival, the average price was around 50 yuan, down from last year's 55 yuan, which boosted attendance and expanded viewership, he noted.

The diversity of this year's Spring Festival film lineup has also contributed to the booming market. Nine movies were released, primarily spanning the comedy and animation genres, catering to various audience segments.