The free fall of the world’s largest movie market
Following the closure of thousands of cinemas, the weekly sales of Chinese cinemas dropped to their lowest level this year.
Theater News Base: The latest figures show that China’s total weekly box office sales were just $ 10.5 million, the lowest weekly sales in the country since the beginning of 2022.
Chinese cinema sales for the whole year so far have been $ 2.42 billion, which is about 28% less than the same figure last year.
China’s major cities are currently operating under a range of restrictions due to a new wave of coronavirus outbreaks, including Shanghai-level quarantine and mandatory government restrictions on movie theaters.
The new film “Wonderful Animals: The Dumbledore Secrets” with sales of $ 3 million is the best-selling film at the weekly box office of Chinese cinema, which after 10 days of release has reached its total sales of $ 14.6 million.
Since the beginning of the Corona epidemic, Chinese cinema has been able to claim the title of the world’s largest cinema market from the United States for two consecutive years. This country is inactive.
In 2021, Chinese cinema sold $ 7.3 billion. China’s total cinema sales in 2021 increased by more than 100% compared to 2020, but are still 26% lower than in 2019 and the box office before Corona.