The Chinese mainland's film market has kick-started 2024 on a high note, raking in a whopping 6.4 billion yuan ($890 million) at the box office as of Monday, surpassing North America!
This achievement secures the Chinese mainland's position as the world's largest movie market for 2024 so far. The ongoing Spring Festival holiday played a significant role, fueling the sector's robust performance.
Since the start of the eight-day holiday on Saturday, the Chinese mainland's box office (including presales) has soared past 3.4 billion yuan ($473 million). Dominating the top 10 spots were domestic titles, with the highly anticipated comedy drama YOLO taking the crown, followed by Johnny Keep Walking! and Pegasus 2.
Looking ahead, the Chinese mainland's total cinema revenue is projected to reach an impressive $13.2 billion by 2027, accounting for 27% of the global total—outpacing the U.S. movie market's 23%. This projection comes from the Global Entertainment and Media Industry Outlook 2023 to 2027 report by PwC.
"The Chinese mainland's film production capacity will also continue to improve, while the supply of films grows steadily, with gradually expanding international influence," said the report.
This projection comes from the Global Entertainment and Media Industry Outlook 2023 to 2027 report by PwC.
