China's Christmas Eve box office hits 13-year low due to lack of hit movies and pandemic impact

From Investing.com: 2024-12-25 04:10:32

China’s box office revenues hit a 13-year low on Christmas Eve, dropping to 38.4 million yuan from last year’s 170.5 million yuan. The decline is attributed to a lack of blockbuster films and the popularity of streaming services. Annual box office has been impacted by the pandemic, with slower recovery than expected.

Zhang Yiwu, a literature professor at Peking University, blames the Christmas Eve box office slump on the absence of hit movies. Sales on Tuesday were just a fraction of last year’s figures, marking the lowest since Maoyan began tracking data in 2011. The decline reflects a trend of weaker box office performance in recent years.

China’s box office has been on a downward trend due to the COVID-19 pandemic, with restrictions on gatherings affecting movie ticket sales. The industry has struggled to bounce back, falling short of expectations. As Christmas Eve is not a public holiday in China, cinema sales during this period are closely monitored as a year-end indicator.



Read more at Investing.com: China’s Christmas Eve box office plunges to 13-year low By Reuters