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
Humanoid Robot Startup X Square Nets Big-Name Backers in $143 Million Raise
Chip Designer OmniVision Soars in Hong Kong Debut
U.S. Eases Restrictions on Nvidia H200 Chip Exports to China
LATEST
U.S. House Passes Bill to Curb China’s Cloud Access to AI Chips
Alibaba Adds Cloud Unit Executive to Top Leadership Group
U.S. Eases Restrictions on Nvidia H200 Chip Exports to China
Luxshare-Wingtech Deal Unravels Amid Legal Wrangling Over Indian Sites
XPeng Affiliate Aridge Eyes Hong Kong Listing as Flying Cars Near Takeoff
GigaDevice Soars in Hong Kong Debut as AI Demand Lifts Memory Chipmakers
Chip Designer OmniVision Soars in Hong Kong Debut
Humanoid Robot Startup X Square Nets Big-Name Backers in $143 Million Raise
U.S. Grants Targeted Drone Ban Exemptions, Keeps Pressure on China
Chinese AI Startup MiniMax Pops in Hong Kong Debut
China Drone Sales Slump as Police Tighten Grip on Unauthorized Flights
China to Review Meta’s Acquisition of AI Startup Manus
Chinese GPU-Maker Iluvatar CoreX Climbs in Hong Kong Debut With $5.3 Billion Valuation
China’s Zhipu AI Jumps in Hong Kong Debut
Nvidia Resumes H200 Chip Production for Chinese Market on Strong Demand
MiniMax’s Hong Kong IPO Oversubscribed 1,848 Times as AI Frenzy Builds
China’s Telecom Giants Back Smart-Glasses Maker RayNeo in $143 Million Funding Round
Robot-Maker Unitree’s IPO Expected by Mid-2026, Source Says
Xiaomi Targets 550,000 EV Sales in 2026
LandSpace Wins Nod for $1 Billion IPO Amid China’s Space Ambitions
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