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
McKinsey’s China Chief Explains Why Some Businesses Haven’t Reaped the Benefits of AI
LATEST
McKinsey’s China Chief Explains Why Some Businesses Haven’t Reaped the Benefits of AI
Alibaba Unveils HappyHorse After AI Model Tops Video Rankings Under Alias
Satellite Maker Spacety Raises $190 Million to Advance IPO Plans
Alibaba Revamps AI Structure With New Tech Committee
Chinese Robotics Startup Spirit AI Raises $145 Million
Huawei Names Wang Tao Vice Chairman in Leadership Reshuffle
Space Pioneer’s Falcon 9 Rival Fails on Maiden Flight
Chinese Panel-Makers Report Solid Earnings in 2025 as Market Recovers
Alibaba Releases Qwen 3.6-Plus AI Model With Enhanced Coding Capabilities
ByteDance’s Volcengine Powers AI Growth with OpenClaw Partnership
Robot Startup Galaxea AI Raises $291 Million
TCL Tech to Buy Back Panel Unit Stake for $1.3 Billion
CAS Space Seeks IPO as China’s Reusable Rocket Race Heats Up
U.S. Chipmaker Onsemi Doubles Down on China With New Shanghai Headquarters
Optical Interconnect Maker Lightelligence Files for Hong Kong IPO
CAS Space Launches Reusable Rocket in China’s Satellite Push
DeepSeek Goes Out for 10 Hours Amid China’s AI Demand Surge
OpenClaw Craze Is Driving Next Phase of AI Development, Insiders Say
China, South Korea Robotics Firms Explore Embodied AI Cooperation
Analysis: Meta’s Manus Deal Faces Scrutiny in China Over Tech Exports, Antitrust Concerns
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