BEIJING (TDI), February 3rd (www.thediplomaticinsight.com) – – China’s daily box office hit a new milestone on Wednesday as the Spring Festival, also known as Chinese New Year (CNY), is generating an impressive and record 1.805 billion yuan (about $249 million) in earnings.
The number of moviegoers on the day reached 35.15 million.
Both the box office revenue and moviegoer count crossed the previous records set on the 2021 Chinese New Year, the China Film Administration (CFA) announced on Thursday.
The annual Spring Festival holiday is one of the country’s most lucrative movie-going seasons, and runs from January 28 to February 4 this year, one day longer than previous years.
Leading the box office chart are 6 domestic films which debuted on Wednesday — with genres including Chinese mythology, wuxia, which features chivalry and martial arts, comedy, animation, fantasy, and drama.
Huajin Securities noted that these 6 new releases cover a diverse range of genres, catering to the tastes of different audience groups.
It also underlined that most of these movies are installments in highly-rated, high-grossing franchises with strong reputations and large fan-bases.
Since December 2024, the CFA has encouraged relevant institutions to allocate about 600 million yuan in movie-going consumption subsidies — a move analysts argue is aimed at unlocking the full consumption potential of moviegoers.
Kaiyuan Securities predicts that total box office takings will see a 6.7% year-on-year increase to hit 8.54 billion yuan during the 2025 Spring Festival holiday.
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CGTN