Despite the phenomenal success of Ne Zha 2, China's highest-grossing blockbuster, industry insiders at the recently concluded 15th Beijing International Film Festival called for greater support for mid- and small-budget films.
Rao Shuguang, president of the China Film Critics Association, said that Ne Zha 2 has alone grossed 15.3 billion yuan ($2.1 billion), accounting for 60 percent of the total 25.5 billion yuan box-office revenue generated by all Chinese films this year.
"This reflects a structural shift in the Chinese film industry, where resources and profits are increasingly concentrated in a single megahit, leaving other films with dwindling support and greater challenges," Rao explained during a forum on film investment and financing.
He urged investors to pay more attention to smaller-scale productions to ensure healthier, more stable, and sustainable growth for the industry.
Jiang Defu, chief executive officer of the Bona Film Group Co Ltd, proposed that cinemas adopt flexible pricing strategies — similar to hotel room sales — to minimize empty seats and optimize revenue.
A report was also released during the forum, reviewing China's film investment landscape and highlighting that fact that although investors have grown more cautious, they remain optimistic about the market's long-term potential.
