The Spring Festival movie box office has skyrocketed, breaking the record and driving a strong recovery in the industry.
According to Beacon Professional Edition data, the total box office sales, including pre-sales, in February 2024 have exceeded 10 billion yuan. “It’s Hot,” “Flying Life 2,” and “Article 20” have been the leading releases this month, contributing to this significant milestone. The research report of Centaline Securities highlighted the overall performance of the movie market during the 2024 Spring Festival holiday. Despite certain holiday length factors, the industry has managed to break box office and movie attendance records for the same period, reflecting strong demand in the domestic movie market.
Furthermore, according to the analysis of the Soochow Securities Research Report, the industry is expected to continue its strong recovery trend as the supply of high-quality content increases. The report also points out the potential for iterative breakthroughs in multi-modal large models in 2024, such as Sora, which is expected to bring about significant changes in the film and television industry.
The optimistic outlook is further bolstered by the fact that New Year’s Day and Spring Festival movies have both exceeded market expectations and set a new record in film history. As such, industry experts anticipate that the strong release of market demand will drive further recovery in the industry.
In other news, WeChat users can now easily share web pages to their circle of friends by following a few simple steps. By tapping “Discover” at the bottom of the app’s interface and using the “Scan” feature, users are able to effortlessly share content with their friends on the platform. This new update is expected to enhance the user experience on the popular social media app.