(Yicai Global) Oct. 11 -- Ticket sales at Chinese cinemas slumped 60 percent over the seven-day National Day holiday earlier this month from the same period last year as a lackluster selection of movies fails to attract audiences and the lasting impact of the Covid-19 outbreaks keeps some cinemas shuttered.

China’s box office grossed CNY1.5 billion (USD208.8 million) between Oct. 1 and Oct. 7 to hit an eight-year low, according to data from Dengta Professional, a ticket tracking platform owned by e-commerce giant Alibaba Group Holding. Just 36.2 million people went to the theater, a third of last year’s peak number, and only 80 percent of the country’s cinemas were operating over the period.

Home Coming, a movie about Chinese diplomats’ efforts to bring home Chinese nationals stuck overseas, was the box office favorite, accounting for 66 percent of sales over the holiday period. From Oct. 1 to Oct. 10, it grossed CNY1.2 billion in ticket sales while Ordinary Hero, a film about people from all walks of life helping an injured child, sold CNY 140 million worth of tickets. But other new movies failed to top CNY100 million (USD13.9 million).

Seven movies were released over the holiday period, four of which were dramas and three of which were animations. The marketing period for most of the films was very short, with their release only announced a week before the break began, leaving little time to drum up interest. Only Home Coming was able to generate an online buzz.

And there are much fewer films being made. Only 327 movies that were produced in China hit the screens as of Oct. 9 this year, less than half the number in the same period last year, according to Dengta.

An uncertain environment has led to shrinking investment in films, said Liu Haibo, professor at the Shanghai Film Academy. As it becomes more difficult to break even, it is getting harder to fund big budget movies. And as a result, there are fewer blockbusters.

However, there are still a number of highly anticipated movies in the works, which should drive up ticket sales once they come out.

Editors: Shi Yi, Kim Taylor