(Yicai Global) Dec. 5 -- China's overall box office takings are expected to hit the annual goal of CNY60 billion (USD8.7 billion) though industry experts are not optimistic about prospects for 2019.

Cinema ticket sales in the country have reached CNY56.7 billion so far this year, exceeding last year's CNY55.9 billion (USD8.1 billion), reported Securities Daily, citing data from Alibaba's ticketing app Taopiaopiao Pro. However, growth has slowed significantly in the second half, which may spill over into 2019.

Monthly cinema income in October slumped by nearly one-third on year to CNY3.6 billion (USD516.8 million) and despite a recovery in November, the industry remains pessimistic.

"Next year is probably doomed due to shocks in the sector this year," one cinema manager said. "Tightening regulations, outbound capital, and a decline in film production have filled the market with a wait-and-see attitude."

Industry takings in the last week of the year will be vital in achieving the annual target. "There are no blockbuster releases expected before mid-December," the manager added.

"November used to be the coolest period of the year but the releases of Venom and A Cool Fish have boosted takings," he added. Income from ticketing increased 22.9 percent to CNY3.7 billion for the month.

US movie Venom topped China's box office in November with CNY1.8 billion in takings, followed by domestic drama-comedy A Cool Fish, Fantastic Animals: The Crime of Grindelwald, Invincible Destruction King 2 and Detective Conan: Zero the Enforcer.

Editor: William Clegg