Chinese cinemas’ earnings recover after reopening

Reopened to the public for more tha three months now, Chinese Cinemas witness their audiences back at the theatres while the occupancy rates remain capped at 75 per cent.

The box office earnings are now up to 56 per cent of the last year’s level, following which moviegoers and producers are looking forward to more. “If the pandemic remains under control, I think the box office earnings will continue to rise during the Spring Festival next year or during other hot showing seasons. Many movies scheduled to premiere this Spring Festival will need a year or two of advance publicity yet. And during this period, there will be more new productions. All these will stabilize the supply side and the box office earnings,” said Wang Ce, CEO of Shanghai Firestake Consulting.

China’s box office earnings, in October alone, reached about 6.35 billion Yuan ($961 million), which is the highest monthly number for any country across the globe.

Photo Credit : https://commons.wikimedia.org/wiki/File:China_Film_Cinema_in_Hangzhou_Binjiang_06.jpg

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