China box office drops 9% in H1 2024; lowest month in June

China’s box office receipts totaled $3.4 billion (RMB23.9 billion) in the first half of 2024, down 9% year-on-year, despite a strong start to the Chinese New Year, according to consulting firm Artisan Gateway.

Ticket sales in the first half of the year were also the lowest since 2016, according to additional data from Maoyan Research Institute, a subsidiary of service provider Maoyan Entertainment. That excludes 2020 and 2022, when theaters were closed for extended periods due to the Covid pandemic.

Artisan Gateway said that the number of cinema admissions fell 8.9% year-on-year to 550 million, while the average ticket price was just over $6 (RMB43.4), remaining relatively stable over the past three years.

Chinese New Year once again proved to be the most important season. The eight-day holiday, which ran from February 10 to 17 this year, set a new record as the largest Chinese New Year to date, with US$1.1 billion (RMB 8.1 billion), accounting for 33.9% of total revenue for the first half of 2024.

However, box office receipts fell in the middle. June ended with $314.1 million (RMB 2.2 billion), down 46% year-on-year and the lowest month of 2024 so far. The Chinese adaptation of the novel The moments we shared was the most popular film of the month, generating 16.1% of the monthly revenue of US$50.6 million (RMB359.3 million) after its release on June 22.

Local audiences continued to enjoy local films, which accounted for six of the top 10 titles in the first half of the year. Four local Chinese New Year films led the box office: Yolo, Pegasus 2, Article 20 and animation Boonie Bears: Turn of the TideThen came the following Johnny continue walkingwhich opened on December 29, in fifth place, and The Last Crazewhich premiered during the May 1st holiday, in eighth place.

Import success

Unlike 2023, when all top 10 films on the yearly chart were locally produced, the first half of the year saw a slightly more diverse group of films in the top 10.

The largest import, Godzilla X Kong: New Empire sixth place with $134.7 million (RMB956.4 million). But Hollywood films were still catching up with local Chinese productions. Kung Fu Panda 4 (52.5 million USD/372.6 million RMB) and Dune: Part Two ($49.7 million/RMB352.6 million), Hollywood’s second and third biggest films respectively, finished outside the top ten.

Animation by Studio Ghibli The Boy and the Heron by acclaimed Japanese director Hayao Miyazaki came in seventh with $111.4 million (RMB790.8 million). Its April 3 release was on time, just three weeks after the film won the Oscar for best animated feature.

Two action films that charmed local audiences made it into the top ten: “Hong Kong” Twilight of the Warriors: The Walled Inwhich enjoyed great interest after its premiere in Cannes and The Pig, the Snake and the Dovea surprise hit that became the second-biggest Taiwanese film of all time in mainland China.

The coming weeks are set to see a slew of blockbusters that the industry hopes will break the box office slump, including Sam Quah’s A Place Called Silencewhich will premiere on July 3, Song Haolin Welcome to my page (July 5), Yin Ruoxin Stay with me (12 July) Successor by Yan Fei and Peng Damo (July 16) and Under one person by Wuershan and Xia Peng (July 26). Hollywood titles include How to steal the moon 4 (July 12) and Deadpool and Wolverine (July 26).