In 2023, China’s movie industry saw a significant recovery, with total earnings reaching around $7.73 billion (RMB54.9 billion). This marked an 83% increase compared to the previous year. However, it was still about 14.5% lower than the record year of 2019, which had earnings of RMB64.3 billion. This improvement came after a tough 2022, when the COVID-19 pandemic led to extensive cinema closures and restrictions in China.
Chinese movies were hugely popular, occupying all top ten spots in the country’s box office. In fact, they made up 84% of the total box office revenue, with foreign films, including the highest-grossing imported film “Fast X,” making up the remaining 16%.
The number of people going to the movies in China in 2023 was the highest in four years, with around 1.3 billion tickets sold. This interest in cinema was boosted by more theaters opening in smaller towns and rural areas, a trend of families going to the movies together, and a growing number of female moviegoers over the age of 25.
Despite this growth, there are still concerns about the overall health of the cinema industry. Even though there are now more screens in China than in 2019 (86,300 in 2023 compared to 69,800 in 2019), the average earnings per screen have decreased.
China Box Office Surges by Annual 83% in 2023 to $7.73 Billion https://t.co/pcZvPOWUlt
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The types of movies that were popular in 2023 varied. Historical films, sci-fi, and fantasy were big hits. Young people were drawn to new and creative content, while male audiences preferred imported animations, and females often chose films about women’s issues or family-oriented animations. The market also saw a pattern of high demand during holidays and festivals, especially during the summer season and the Spring Festival holidays. Source
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