Poor Quality, Lack of Blockbusters Drop China's Box Office in Nine-Year First
Zhang Yushuo
DATE:  Jun 17 2019
/ SOURCE:  yicai
Poor Quality, Lack of Blockbusters Drop China's Box Office in Nine-Year First Poor Quality, Lack of Blockbusters Drop China's Box Office in Nine-Year First

(Yicai Global) June 16 -- Chinese movies' box office takings fell from this January to last month for the first time in nine years.

The ranks of moviegoers also thinned on an annual basis in the same period, likewise the first such decrease since 2011, data from Chinese online ticketing service provider Maoyan show.

The lack of blockbusters is one of the important factors contributing to the fall in takings, China National Radio (CNR News) reported, citing Wei Pengju, dean of the School of Culture and Communication at Beijing's Central University of Finance and Economics.

Chinese' films snagged CNY24.9 billion (USD3.6 billion) in this year's first five months, down 6 percent annually, while the number of filmgoers during the period was 689 million in a 13 percent decrease. 

The quality of movies, domestically-made ones above all, was generally low from January to last month, and this was a key factor precipitating the decline, Wei said.

Only the earnings of the movies Avengers: Endgame, Bumblebee and Captain Marvel topped CNY1 billion, apart from three films hitting Chinese silver screens during the Chinese New Year holiday peak -- The Wandering Earth, Crazy Alien and Pegasus.

The slowdown in the number of movies screening and reduced offerings of low-cost tickets via online platforms are also among the main reasons for the ebbing market this year. The short-term decrease in the box office takings will help China's TV, movie and entertainment sectors eliminate investment bubbles, however, Wei predicted, adding this is also a moderate cooling-down period. 

China will surpass the US to become the world's biggest movie market next year with ticket earnings reaching about USD12.3 billion, above the CNY84 billion (USD12.1 billion), projection of London-based accounting services provider PricewaterhouseCoopers projected.

Editor: Ben Armour

Follow Yicai Global on
Keywords:   box office,decline,film