Record-breaking Spring Festival stalls reveal new trends in China’s film industry
The National Film Administration released data on February 18th that showed that during the 2024 Spring Festival holiday (February 10 to February 17), the national movie box office reached 8.016 billion yuan with 163 million moviegoers. This represents an increase of 18.47% in box office revenue and 26.36% in the number of moviegoers compared to the 2023 Spring Festival holiday, setting new records for the same period. The top four films at the box office were “Hot and Furious,” “Flying Life 2,” “Bear Infested: Reverse Time and Space,” and “Article 20.”
Industry experts believe that the portfolio of films released during the Spring Festival featured sequels, animations, and new IPs. High-profile directors, actors, and sequels of high-grossing movies injected confidence into the market, driving increased box office and reputation.
The success of the films was attributed to innovative and creative promotions. Many films utilized strategies such as live broadcasts with top-tier anchors, collaborations with influential figures such as traffic police, and leveraging digital RMB movie consumption promotions to provide real discounts to audiences. These methods led to increased audience engagement and enthusiasm for watching movies.
The virtuous cycle of capital has also contributed to the success of the film industry. Listed film and television companies focused on their main business responsibilities, leading to improved net profits and non-net profit growth rates. This return to focusing on the main business is seen as contributing to the improvement in the professionalism and quality of film and television content.
Furthermore, the quality of the films themselves played a crucial role in their success. Many of the films focused on small people and small stories, allowing the audience to reflect on themselves in reality. Directors emphasized the importance of creating characters with whom the audience can empathize, leading to more poignant and impactful storytelling.
In conclusion, the record-breaking success of the 2024 Spring Festival film market highlights the vitality and growth of the Chinese film industry. It is clear that a combination of innovative promotion strategies, a focus on the main business, and quality content has contributed to the industry’s continued success. As the industry continues to evolve and adapt to new trends, it is poised to create valuable experiences for audiences and climb new heights in film production.