CX Briefing: Holiday Box Office Tumbles

A rundown of the news making headlines in and around China:

Box office slumps: China’s box office earnings nosedived during the Labor Day holiday. Tickets from May 1 to 5 totaled 747 million yuan ($102.4 million), down 51% year-on-year, according to official data. Attendance also fell by 50% to 18.9 million viewers. This downturn occurred despite an increase in film releases to 11, three more than last year, and a slight decrease in average ticket price to 39.5 yuan from 40.4 yuan. Biographical film “The Dumpling Queen” led with 192 million yuan, followed by crime thriller “A Gilded Game” with 135 million yuan — the only two to top 100 million yuan. The box office slump marks the first drop below 1 billion yuan since 2022. This follows a similar trend from the Qingming holiday a month ago, when box office and attendance also dropped over 50%. The market now anticipates a slower period until the Dragon Boat Festival holiday starting May 31.