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China’s Summer Box Office Sets New Record Despite Ticket Prices Going Up (Yicai) Aug. 30 -- China’s cinema ticket sales over the summer period have set a new record, even though the price of a ticket is now around CNY5.50 (USD0.75) more than in 2019, according to the latest data. Movie ticket sales this summer, which stretches from June 1 to Aug. 31, reached CNY20.4 billion (USD2.8 billion) as of yesterday, according to real-time data from ticketing platform Lighthouse Pro. This is CNY2.6 billion (USD357 million) more than in the summer of 2019 before the pandemic. Some 498 million people have headed to the cinema so far this summer, half of whom were visiting the movie theater for the first time this year, Lighthouse Pro said. This is close to the number in 2019 when there were 502 million cinemagoers. The average price of a ticket is now CNY40.90 (USD5.60). After a difficult start to the season, when the box office of the Labor Day holiday in May failed to reach that of 2021, this summer has turned out to be one to remember, said Cao Qian, head of regional marketing at UME Studios. “We did not aim to beat 2019 this summer, we only wanted to do better than last year, as the advertising, long-term rental and naming rights at cinemas were not good,” Cao said. “But the latest data makes us very excited and more confident.” Everybody is just keen to get on with their daily lives now that the pandemic has ended, said Liu Haibo, professor at the Shanghai Film Academy. And going to the movies is a cheap form of entertainment. The five top-grossing films at the summer box office are all domestic productions. Lost in the Stars and No More Bets have raked in more than CNY3 billion each, while Never Say Never and Creation of the Gods have each grossed over CNY2 billion, and Chang An has topped CNY1.5 billion. Over the summer there were one or two excellent films released each week, unleashing a cumulative effect, said Liu. If this summer’s stats are good, then next year many highly anticipated movies might also be released during the summer, he added. China’s box office this year so far has hit CNY42.5 billion (USD5.8 billion), more than the whole years of 2020 and 2022 and close to 2021’s total of CNY47 billion. But whether it can get close to 2019’s record high of CNY64.1 billion depends on the quality of the releases. https://www.yicaiglobal.com/news/chinas-summer-box-office-sets-new-record-despite-ticket-prices-going-up

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