SOURCE / ECONOMY
Festive period gifts $1.24b for domestic films By Tao Mingyang Published: Feb 18, 2021 09:23 PM
Moviegoers at a cinema in Beijing on Friday, the frst day of Year of the Ox. Photo: CFP
The box-office revenues of seven domestically made films including
Detective Chinatown and
Hi, Mom, exceeded 8 billion yuan ($1.24 billion) during the Chinese Lunar New Year from February 11-17, with Hollywood films largely absent from the Chinese market due to the pandemic.
Among the seven domestic films,
Detective Chinatown and
Hi, Mom were the two hottest.
Detective Chinatown set a global box office record ($157 million) in single market in a single day. The record was previously held by
With China’s box office takings expected to return to near pre-pandemic highs in 2021, the world’s largest movie market is becoming more attractive and more tricky for Hollywood studios.
Ticket sales from movie theaters in China, which has largely contained the coronavirus, may jump to 60 billion yuan ($9 billion) this year, according to Rance Pow, founder of consultancy Artisan Gateway, closing in on 2019’s record haul of 64 billion yuan. By contrast, with outbreaks still raging, U.S. cinemas may take in about a third of that tally, Wedbush Securities estimates, underscoring Hollywood studios’ growing dependence on the Asian country.
China overtook the U.S. to become the top movie market last year, as the pandemic shut American film theaters for longer than their Chinese peers. But the increasing reliance comes as Chinese viewers pivot to local language films, and show a greater sensitivity toward portrayals of China and its people in Western culture, amid simmering ge
Warner Bros is trying to patent Middle-Earth: Shadow of Mordor s Nemesis system eurogamer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eurogamer.net Daily Mail and Mail on Sunday newspapers.