China's holiday box office plunges by 23% as theaters push prices to record highs

  • 📰 CNBC
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

Movie tickets in China cost about 8% more during this year's Lunar New Year holiday than last year, according to data from online ticketing site Maoyan.

Overall tourism consumption during the holiday was 3.9% lower than in 2021 — at 289.12 billion yuan, according to the Ministry of Culture and Tourism. That's well below pre-pandemic levels, and about 56.3% of tourism consumption in 2019, data showed.

Covid-related restrictions and generally weak consumer demand made it even more difficult for ticket sales to remain so high, he said in a note. "Anecdotal evidence shows that cinemas may have intentionally raised ticket prices in anticipation of much softer sales than last year, in order to compensate for the expected loss in profits."

This year's Lunar New Year box office of about 6 billion yuan was a touch higher than the 5.9 billion yuan recorded for 2019, the data showed. Theaters were essentially shut during the holiday in 2020 as seven films delayed their releases due to the coronavirus pandemic.Two years into the pandemic, China's movie theaters have had to deal with intermittent lockdown measures, as well as changes in the availability of films.

Source: Entertainment Trends (entertainmenttrends.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Corporate America is going to price themselves out of business

China is pushing its economy to the next level

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MIB 23: Channing Tatum on Sony's Scrapped Men in Black/Jump Street CrossoverChanning Tatum says 'producer problems' scrapped Sony's MIB 23, a planned Men in Black / Jump Street crossover: I was actually really excited for this. Good. This was nearly the dumbest idea for a movie.
Source: ComicBook - 🏆 65. / 68 Read more »

Man, 23, dies after being shot multiple times in West Philadelphia, police sayA 23-year-old man has died after he was shot multiple times in West Philadelphia.
Source: FOX29philly - 🏆 570. / 51 Read more »

23 Finger-Lickin' Chicken Wing RecipesOur 23 best chicken wing recipes for saucy, finger-lickin’ fun. 🤩🤩🤩 Mainkan Game Terbaik Bersama Kami www. tiketsatu. net Hanya Dengan Rp 15.000 anda bisa menang jutaan rupiah setiap saatnya Situs Dengan Kemenangan Tertinggi Line : TiketQQ Whatsapp : 082118612330 TiketQQ QQOnline BandarQQ Domino99 PKVGames SitusJudiOnline PokerQQOnline Ntar kalau libur, masak2 yok auliamaulani13
Source: bonappetit - 🏆 482. / 51 Read more »

Inside the Olympic bubble, looking for China — or 'China'The Olympics are usually a once-in-a-generation opportunity for the host country to showcase its culture. This year, however, athletes, coaches and others traveling to the Winter Games in Beijing are entirely sequestered in a bubble so complete that it even contains its own intercity trains. It's all part of the elaborate effort by China to control the spread of COVID-19. GenocideGames TakeDownTheCCP The Chinese should be commended for their strict covid safeguard rigidity that was able to control the spread of Omicron and ensure the Olympics were held as scheduled. I'm sure the athletes who worked so hard for this are extremely grateful. It's a very uncomfotable bubble, too. 🥶🥘🗯️
Source: AP - 🏆 728. / 51 Read more »

The 2022 Winter Olympics are near: Here's 23 Team USA athletes you need to know before you watch23 for 22. These are the 23 athletes you need to know about for these 2022 Winter Olympics.
Source: usatodaysports - 🏆 454. / 53 Read more »

US-Born Eileen Gu Wins Olympic Gold Medal for China in Women's Big AirEileen Gu hit a meet-high 94.5 third and final run to claim gold in the WinterOlympics Tess Ledeux (FRA) and Mathilde Gremaud (SUI) took silver and A, respectively.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »