According to Maoyan Professional Edition, as of 6:30 a.m. on May 4, the total box office (including pre-sales) of the 2024 May Day new movies has reached 1.215 billion! " Peacekeeping Riot Squad ", " Thelma and Louise " and " Kowloon Walled City: The Siege " are currently among the top three at the box office (including pre-sales). Many brokerages are optimistic about the performance and the market conditions of related companies.
Analysts believe that this year’s May 1st holiday, the supply of films continues to increase and the variety of film types has become a highlight. A total of 8 key films will be released on May Day in 2024, including "The Siege of Kowloon Walled City", "Peacekeeping Riot Squad", " Spy House Codename: White ", " Howl's Moving Castle ", " No Meal" Things Hot Pot Can't Solve " "Thelma and Louise" " Journey Through the Moon " " Pig Man Movie·Interstellar Action ". The film types during the schedule cover action, comedy, animation, romance, suspense, crime and other categories, which can meet the viewing needs of different audiences.
Judging from the pre-sale box office, many films have already sold well in advance. The crime-themed film "The Siege of Kowloon Walled City", the action blockbuster "Peacekeepers", and the animated comedy "Spy House Code: White" ranked among the top three in the pre-sale box office list.
It is worth mentioning that Alibaba Pictures is the listed company that has participated in the most May Day films, covering 4 films, including producing and distributing "Peacekeeping Riot Squad" and "Journey Across the Moon", and producing and co-distributing "Nothing Can't Be Solved by a Hotpot" and co-produced "The Siege of Kowloon Walled City".
According to Beacon Professional Edition, the total box office revenue of the May Day period in 2023 is 1.521 billion yuan, accounting for 2.77% of the total box office for the year. It is the most important source of box office besides the three major periods of Spring Festival, summer and National Day. On the eve of May Day this year, many brokerages gave their outlook for the May Day box office and were generally optimistic about the performance.
A research report from Guotai Junan Securities stated that the May Day movie schedule is a long holiday period after the Spring Festival and National Day schedules. Since 2018, theaters have been able to achieve an average daily box office of more than 300 million yuan in years when they are in normal operation. A total of 8 films are scheduled for May Day in 2024. Among them, "The Siege of Kowloon Walled City" and "Nothing Can't Be Solved by a Hot Pot" have started advance screening, and the total number of screenings for the former has exceeded 200,000. “The May Day schedule is suitable for the release of medium-sized films. The expected box office of this type of films is usually 300 million to 500 million yuan. However, with the help of the schedule, the total box office of some high-quality films is expected to exceed 1 billion yuan, which will bring great benefits to movie participants. to achieve excess returns.”
Galaxy Securities believes that the movie market continues to recover and is optimistic about the box office performance during the period. Taking into account the rich variety of films in the 2024 May Day period, the relatively average pre-sale performance of several popular films, the large number of animated films in the overlay period, and the film types that are more popular with the new generation of young audiences, the 2024 May Day period is expected to continue the film market With the recovery trend, the May Day box office is expected to be in the range of 1.3-1.7 billion. "The pre-epidemic inventory of domestic film manufacturers has been gradually cleared, the production and release of new films have been steadily advancing, and the willingness of movie fans to watch movies has gradually increased. The supply and demand sides have jointly worked together, and we are optimistic about the market performance of the film market in the subsequent year."
Wanlian Securities believes that the theater movie market will pick up across the board in 2024, and the overall supply of May Day movies will be sufficient. The themes range from comedy, crime, suspense, Japanese comics and other types to cover the audience group, and the box office performance is expected to be maintained. "It is predicted that the total box office will reach 1.811 billion yuan."
analysis believes that since last year, the film market has experienced a strong recovery. Not only did it achieve significant growth in key periods such as the 2023 summer season, 2024 New Year's Day, Spring Festival and Qingming Festival, but it also set new box office records for the corresponding periods in Chinese film history. This is also an important background for this year’s May Day box office to be optimistic.
According to data from the National Film Administration, the national movie box office in 2023 will be 54.915 billion yuan, a significant increase from 30.067 billion yuan in 2022. The number of moviegoers throughout the year reached 1.299 billion, a year-on-year increase of 82.7%, setting a new high in the past four years. In the first quarter of this year, the total national movie box office was 16.356 billion yuan, a year-on-year increase of 3.14%; the total number of visitors was 364 million, a year-on-year increase of 8.15%; the domestic film box office was 15.044 billion yuan, a year-on-year increase of 6.57%; the domestic film share was 91.97% (the same period last year is 89.02%). Yangzi Evening News/Ziniu News reporter Fan Xiaolin
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