COVID-19 Outlook for the China Box Office
This week, coinciding with China’s National Day holiday weekend, China’s entertainment industry is facing an official recovery after the COVID-19 pandemic.
On the third day of the National Day weekend, the national box office in 2020 has exceeded $1.47 billion.
In 2018, China’s movie box office revenue reached $8.9 billion, with a year-on-year increase of 9.06%. In 2019, China’s movie box office revenue reached $9.3 billion.
In the first half of 2020, due to the impact of COVID-19, the box office in Mainland of China was only $324 million, down 92.84% from the same time period last year.
The film industry gradually recovered in the second half of 2020. Since theaters officially resumed work on July 20, the national film market, including single-day box office, theater resumption numbers, and theater resumption rates have shown a positive trend. From July 20 to August 20, the total monthly box office of the theater in the first month of resumption has exceeded $147.2 million, with a total of 4.74 million shows, while the resumption rate of theaters exceeds 83%.
According to forecasts, the conservative growth rate of China’s film industry in 2020–2025 is estimated to be about 10%; China’s domestic box office revenue is expected to exceed $16.2 billion by 2025.
