China's 33 Million Moviegoers Help Reopened Cinemas Recover Despite Reruns(Yicai Global) Aug. 20 -- Chinese cinema operators are recovering with a steady demand to watch reruns of older movies while waiting for new ones, such as the Eight Hundred, as the pandemic eases its grip on the nation.
More than 33 million people have bought CNY1 billion (USD144.5 million) worth of tickets since cinemas were allowed to reopen a month ago, China News Service reported, citing official data. Movie theaters had been closed for almost six months before that due to the epidemic.
Over 9,000 theaters, or 83 percent of the total, have opened their doors again as of Aug. 18. Their total single-day box office has risen to exceed CNY10 million from the early CNY1 million (up from USD144,459). Cinemas still need to keep 70 percent of their seats empty during each screening to stay safe, according to the China Film Administration.
One of the much-awaited new titles includes the Eight Hundred, a Chinese war epic, which is scheduled to be released in theaters across the country tomorrow. Interestingly, that has been buoying Huayi Brothers's [SHE:300027] stock price today amid marketwide slumps.
Chinese cinemas have been screening 47 films over the 30 days. Over the past week, presales of tickets to watch the Eight Hundred have reached CNY170 million (USD24.6 million), ranking No. 1. Harry Potter and the Philosopher's Stone is second with CNY126 million and Interstellar tallies CNY116 million.
Venues to watch movies are resuming operations across the county. Eastern Jiangxi province has the biggest rate of reopened cinemas at 95 percent, while western China's Tibet Autonomous Region, central Henan, eastern Anhui, and Shandong all have rates surpassing 90 percent.
Editor: Emmi Laine
