2024 box office revenue in China to decline as industry recession deepens

According to the State Administration of Radio, Film and Television, box office revenue totaled 42.502 billion yuan. This is 22.6% less than 54.915 billion yuan in 2023.

Of that, the box office revenue of domestic films decreased by 27.3% to 33.439 billion yuan in 2023 from 46.005 billion yuan.

Hopes for a second year of post-pandemic increases in box office revenues were dashed despite successes including “YOLO,” a comedy about how a reclusive woman reconnects with society through boxing, and “The Successor,” a romantic drama. And comedies, including How a Couple Gone Hidden, flopped despite successes. His property from his son to promote character building.

The slowdown was caused by a mix of factors – a decline in the number of feature films, competition from online offerings including micro dramas, and a slowdown in the world’s second largest economy.

On Christmas Eve, box office revenues fell to their lowest in at least 13 years.

For all of 2024, moviegoers in urban theaters totaled 1.01 billion, down from 1.299 billion a year earlier.

A total of 612 feature films were produced last year, down from 792 in 2023.

The decline in offerings reflects declining investment and production capacity in an industry that is still struggling after strict COVID-19 restrictions disrupted film production from 2020 to 2022.

This article was generated from an automated news agency feed without any modifications to the text.