Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Chinese Robot Startup Unitree Gears Up for Market Debut
LATEST
Chinese Robot Startup Unitree Gears Up for Market Debut
China Enforces AI Content Labeling Rules to Curb Misuse
Tech Brief (Sept. 2): China Rolls Out Mandatory AI Labeling
Meituan Enters Open-Source AI Race With LongCat Model
Tech Brief (Aug. 29): SenseTime Reports Strong AI Growth
All Hail the Driverless Taxis as China Eyes a $183 Billion Market
Tech Brief (Aug. 27): Cambricon Reports $128 Million Profit, Stock More Than Doubles Since July
Tech Brief (Aug. 26): Musk’s xAI Sues Apple and OpenAI Over Alleged AI Market Monopoly
Exclusive: NetEase’s Youdao CEO Explains How AI Agents Could Build a Future of Virtual Teachers
Ant Group Teams up With Top Beijing Hospital to Launch AI Healthcare Lab
Didi and Meituan Clash in Brazil as Food Delivery Battle Goes to Court
Google Denies Rumors It Is Resuming Full Services on Chinese Mainland
China Proves a Winner in the Gaming Market as Growth Hits a Five-Year High
China’s Booster Robotics Lands New Funding as it Hits a Winning Streak
Amazon to Shut Down Shanghai AI Lab Amid Strategic Shift
Cover Story: A New Gold Rush Begins in China’s Hard Tech Sector
Humanoid Robotics Startup Robot Era Secures $69 Million Series A Funding
China’s Zhipu AI Secures $140 Million Investment From Shanghai State Funds Amid IPO Push
In Depth: AI Agents Trigger the Next Tech Battlefield in China
Cover Story: Alibaba Fights Tencent for Dominance Over AI in China
China’s Box Office Books First Half-Year Drop in 8 Years

By Liu Shuangshuang and Han Wei / Jul 05, 2019 03:24 AM / Business & Tech

Photo: Bloomberg

Photo: Bloomberg

Chinese movie theaters booked the first half-year ticket revenue drop in eight years, reflecting weakening momentum after years of white-hot growth.

Box office revenue slid 2.7% in the first six months to 31.2 billion yuan ($4.5 billion), the first decline since 2011, according to consulting firm EntGroup. That compares with a 9.4% drop in ticket sales revenue in North America to $5.6 billion.

The number of Chinese movie-goers totaled 808 million in the first half, a drop of 90 million from the same period a year ago. Construction of new theaters also slowed with 4,585 screens added during the first half, 207 fewer than in the previous year.

Industry analysts attributed the cooling market to the unmatched growth in movie facilities and content supplies. Chinese film production rose 45% between 2012 and 2018, compared with a more than five-fold increase in the number of screens, official data showed.

A crackdown on film industry misconduct starting last year, including tightening scrutiny of film studio and celebrities’ tax payments, also sent a blow to the industry, analysts said.

Related: Movie Industry Players Report Poor Performance in 2018

Share this article
Open WeChat and scan the QR code