Domestic Hits Power China Box Office to Record USD1.2 Billion Over Lunar New Year
Liao Shumin
DATE:  Feb 18 2021
/ SOURCE:  Yicai
Domestic Hits Power China Box Office to Record USD1.2 Billion Over Lunar New Year Domestic Hits Power China Box Office to Record USD1.2 Billion Over Lunar New Year

(Yicai Global) Feb. 18 -- Chinese cinemas made more than ever during the seven-day Spring Festival holiday, selling over CNY7.8 billion (USD1.2 billion) in tickets, thanks to domestic blockbusters. 

Theaters also drew in more filmgoers than ever during the annual holiday -- 160 million as of 10 p.m. yesterday, according to movie data platform Alipictures Moviepro.

The most popular title was Detective Chinatown 3, which broke many mainland records. The latest release in the buddy cop series booked CNY3.6 billion in ticket sales, exceeding CNY1 billion faster than any other Chinese film. During the vacation, it was also the most-screened flick and had the highest single-day earnings.

The ripple effects will reach far. The quick success of Detective Chinatown 3, which was originally scheduled for release a year ago, has turned Chen Sicheng into China's first movie director whose work has raked in more than CNY10 billion as of Feb. 14.

Moreover, Detective Chinatown 3's producer, Wanda Cinema Line, should welcome its success. The company lost CNY2 billion in the first three quarters of last year amid cinema closures due to Covid-19. Its revenues tallied CNY3.2 billion, falling by over 72 percent from a year earlier.

China's movie industry will gradually recover this year, according to the Paper, which cited insiders. But investors are cautious after filming was halted due to the pandemic. Even if a movie went into production today, it would not premiere until October at the earliest, the insiders said.

But statistics show the situation is getting better. China’s cinemas had notched up sales of over CNY10 billion by Feb. 16, some 230 days earlier than last year and just a few days after the milestone date in 2019.

Comedy Hi, Mom was the second-most popular release during the Spring Festival, earning CNY2.7 billion. Fantasy adventure Writer's Odyssey came in third with CNY540 million (USD83.6 million). Hi, Mom, which is adapted from a television sketch comedy, is gaining traction fast as its single-day box office has exceeded that of Detective Chinatown 3 every day since Feb. 15.

Editor: Emmi Laine, Xiao Yi

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Keywords:   Box Office Record,Spring Festival,Chinese cinemas