As the lanterns glowed and fireworks illuminated the night sky, China’s film industry witnessed an exhilarating surge in its box office collections on the first day of the Lunar New Year celebrations. Preliminary estimates suggest that a staggering 1.8 billion yuan (approximately $248.3 million) was generated by films across the nation, breaking boundaries and setting a new standard. This remarkable figure eclipses the previous record of 1.69 billion yuan established in 2021, marking a celebration that film enthusiasts and industry insiders have eagerly anticipated.
One of the standout performers this festival season was IMAX, which recorded a remarkable opening day gross of $12 million—outdoing its own record of $11 million from the previous Chinese New Year. With less than 1% of total screens and managing to secure 5% of the overall box office, IMAX has achieved an astonishing milestone in its history within the Chinese market. The attendance rate soared to 1.2 million admissions, indicating a strong appetite for cinematic experiences in enhanced formats.
This exceptional turnout can be attributed to the alluring array of films available this year, enticing moviegoers to the big screens. IMAX’s success suggests that an increasing number of audiences are willing to invest in premium viewing experiences, showcasing a vibrant shift in consumer preferences toward higher-quality presentations.
Leading Titles Captivating Audiences
Kicking off the Year of the Snake was the much-anticipated animated feature “Ne Zha 2,” which garnered an impressive 486.6 million yuan (around $67.1 million) on its opening day. Building upon the foundation laid by its 2019 predecessor, this film has resonated with both children and adults alike—testament to the enduring appeal of well-crafted animated tales in China.
Trailing close behind was “Detective Chinatown 1900,” featuring a star-studded cast including esteemed actors Chow Yun-Fat and John Cusack, which earned an estimated 464.4 million yuan (approximately $64 million). Given that its predecessor, “Detective Chinatown 3,” shattered records during the 2021 Lunar New Year, it is no surprise that audiences turned out in droves to catch the latest installment.
Another noteworthy competitor, “Creation of the Gods II: Demon Force,” managed to enthrall viewers with a first-day gross of 382.8 million yuan (around $52.8 million). This sequel takes inspiration from a celebrated Chinese fantasy narrative, showcasing the potency of culturally resonant storytelling in securing box office success.
Furthermore, “Legend of the Condor Heroes,” a martial arts epic directed by acclaimed filmmaker Tsui Hark, and the animated franchise “Boonie Bears: Future Reborn” settled into the top five, drawing significant figures that illustrated the diverse entertainment options available this holiday season.
As pre-sales reached a record-breaking 600 million yuan ($83 million) just days before the holiday, anticipation for films was palpable. Media channels reported total presales exceeding 1 billion yuan ($137.9 million) by Tuesday, reflecting a healthy trend of consumer enthusiasm for cinema during the festive period.
One key component that has likely driven these numbers skyward is a promotional scheme initiated by the China Film Administration. The program, running until next month, offers subsidies amounting to 600 million yuan ($83 million) to incentivize the public to visit cinemas. Various initiatives have been set in place to stimulate attendance, an essential factor in revitalizing an industry that struggled considerably throughout 2024.
The past year was a stark contrast, as China’s total box office revenue plummeted by 25% to around $5.9 billion, largely due to economic challenges and a notable absence of major blockbuster titles. Thus, the current momentum, as observed in the first day’s results, is a promising indicator of recovery for an industry that thrives on communal experiences, especially during significant cultural celebrations.
While the initial figures are exuberant and offer a glimpse of optimism, it remains to be seen how individual titles will perform over the full Spring Festival holiday duration. Social scores for newly released films hover impressively between 9.2 and 9.7, but historical trends suggest that box office returns may be frontloaded, leading audiences to settle on favorites over time.
Maoyan’s projections are ambitious, anticipating that “Ne Zha 2” could ultimately gross around 4.9 billion yuan ($675.8 million) and “Detective Chinatown 1900” around 3.6 billion yuan ($496.5 million). Such expectations underscore the significant impact of opening day success on overall financial performance—a vital consideration for producers and stakeholders alike.
As the festivities continue until February 5, the film industry awaits the unfolding narrative of this year’s Lunar New Year box office. Observing how the trends evolve will undoubtedly provide insights into consumer behavior and the ever-changing landscape of cinema in China.