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Chinese movie industry screens business tragedy
Theatregoers are demanding a rewrite of China’s cinema script. Lockdowns pushed movie ticket sales to a 10-year low during the recent Dragon Boat Festival holiday weekend.
While the country overtook the United States in 2020 to become the world’s largest theatre market, that outperformance was only relative. In absolute terms, the market is throwing rotten tomatoes at the Chinese silver screen.
The country is still energetically adding new theatres – a statistic that used to excite Hollywood bigwigs seeking more venues for big-screen blockbusters.
The question is whether China’s citizens will return to fill the seats. The current deep slump will be temporary. But future growth could be limited.
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