Maoyan: 2021 Chinese New Year holiday sets box office revenue record of RMB7.8 billion

Maoyan Entertainment ("Maoyan" or "the Company") (Hong Kong: 1896), a leading platform providing innovative Internet-empowered entertainment services in China, announced that China's box office revenue achieved a major milestone for the week-long 2021 Chinese New Year holiday with record-breaking box office revenues of RMB7.822 billion (US$1.206 billion), demonstrating that the country's film market has recovered from the COVID-19 pandemic.

According to Maoyan's 2021 Chinese New Year holiday movie market report, box office revenue topped RMB7.822 billion (US$1.206 billion) during the week-long holiday, beating the 2019 holiday record of RMB5.903 billion.

2021 Chinese New Year holiday box office highlights

China's box office revenue hit a record high of RMB7.822 billion (US$1.206 billion) during the week-long 2021 Chinese New Year holiday period from February 11 to 17, with a 32.5% jump from RMB5.903 billion during the 2019 Chinese New Year holiday.

The daily box office on the first day of the Chinese New Year (February 12) exceeded RMB1.690 billion, achieving a new single-day box office record for China's film history.

As of February 16, 2021, on the fifth day of the Chinese New Year, China's 2021 cumulative box office revenue had surpassed RMB10 billion.

Seven domestic movies were released on February 12, the first day of the 2021 Chinese New Year. The top-two highest-grossing box office titles during the holiday were the comedy "Detective Chinatown 3" (RMB3.555 billion) and comedy "Hi, Mom" (RMB2.724 billion), a film for which Maoyan was both main producer and lead distributor, together accounting for near 80% of the total box office during the holiday.

The average audience screening size rose 23% to 55.8 people on average, and the total number of movie tickets sold during the holiday hit a record 160 million in the 2021 Chinese New Year holiday, increasing 21% over the same period in 2019.

The average number of movies the Chinese audience watched during the 2021 Chinese New Year holiday was 1.19, dropping from 1.23 in 2019's Chinese New Year holiday period. Hard-to-buy movie tickets due to high demand outstripping ticket supply, was an important factor behind the decline of the average number of movies watched by moviegoers.

As a major player in China's entertainment industry, Maoyan has continued to be a key participant in the 2021 Chinese New Year holiday season, coming up with innovative new promotional tools and campaigns to promote movies.