Reduced to 6, it suddenly withdrawn

After the single-day box office exceeded 1 billion for four consecutive days, the total box office of the Spring Festival stalls exceeded 5 billion yuan. On the evening of January 25th, “Chinese Ping Pong: Jedi Counterattack”, which was only released for two days, announced its withdrawal.

As of 22:15 on January 25, according to Maoyan Professional Edition data, the total box office (including pre-sale) of the Spring Festival in 2023 (January 21-January 27) exceeded 5 billion yuan, “Man Jianghong” and “The Wandering Earth 2 “”Bear Infested: Stay with me “Bear Core”” ranked the top three at the Spring Festival box office. Among them, “Man Jianghong” and “The Wandering Earth 2” both exceeded 1 billion at the box office, 1.84 billion yuan and 1.624 billion yuan respectively.

On the evening of January 25th, “Chinese Ping Pong: The Jedi Counterattack”, which was only released for two days, announced the withdrawal of the file. It was adjusted to a small-scale screening from the fifth day of the first day (January 26th), and the official release was postponed to February 17th. As of the evening of the 25th, the total box office of the film’s screenings and pre-sales exceeded 42 million yuan. Regarding the reason for the withdrawal, the producer stated in the announcement: “Due to major mistakes and serious deficiencies in the decision-making, preparation, and promotion of the publicity and distribution team, the film fell into a particularly passive situation during the Spring Festival.”

Image source: Movie China Ping Pong official microblog

So far, the number of films released during the Spring Festival in 2023 has been reduced from 7 to 6. The film genres include science fiction, suspense, spy war, history, comedy, animation, etc., and the lineup gathers domestic classic IP, heavyweight directors and many well-known actors. The average length of the movie reached 130 minutes, breaking the historical record for the Spring Festival. Movie ticket prices have dropped for the first time in nearly seven years since 2016, and the average ticket price for the current schedule is 52.7 yuan.

On the first day of its release during the Spring Festival, “The Wandering Earth 2” topped the box office of the day with a box office of more than 500 million yuan, and was the first to break through the 1 billion mark. Two days after its release, “Man Jianghong” achieved a “reversal” at the box office, surpassing the previous leading “The Wandering Earth 2”. At the same time, “Man Jianghong” surpassed the 1.191 billion box office of “Above the Cliff” and became the highest-grossing work of Zhang Yimou’s films released in the mainland.

Image source: Movie Manjianghong official microblog

According to the data of Maoyan Professional Edition, the current box office of the three films “Manjianghong”, “The Wandering Earth 2” and “Bear Infested” is 36.8%, 32.4%, and 10.6% respectively, and the combined box office of the three films accounts for nearly 80%; The proportions of film scheduling were 28.7%, 25.4%, and 11.7% respectively, and the total film scheduling accounted for more than 60%.

At present, the overall box office performance of the 2023 Spring Festival stalls has surpassed that of the same period last year. The Huachuang Securities Research Report pointed out that the box office of the Spring Festival stalls on the second day and the third day (as of 10 o’clock) compared with 2019 and 2022 has achieved year-on-year recovery. The cumulative box office in the first three days was 3.267 billion yuan (excluding service fees, as of 10 o’clock), which is already better than the 3.176 billion yuan in 2019 and 3.190 billion yuan in 2022.

The box office of the 2023 annual market exceeded 5 billion on January 24, breaking the record for the fastest annual box office of the Chinese film market to break 5 billion. As of 23:00 on the evening of the 25th, the 2023 real-time box office (including pre-sales) reached 6.239 billion yuan, and the top three films were “Man Jianghong”, “The Wandering Earth 2” and “Avatar: The Way of Water”. Among them, the box office of the Spring Festival stalls accounted for about 80% of the total box office of the market this year.

As the first major schedule after the adjustment of the epidemic policy, the 2023 Spring Festival will bring together the top projects of major film and television companies. According to the pre-sale box office of the Spring Festival stalls and the current box office performance, many institutions expressed optimism about the recovery of the film market in 2023.

Among them, Chinese films participated in the production or distribution of all 7 films in the Spring Festival file. Maoyan Entertainment participated in the production and distribution of 5 films including “Man Jianghong” and “Chinese Ping Pong”. Enlight Media released “Deep Sea” as the main cast, and participated in four films including “Man Jianghong” and “Exchanging Life”. Ali Pictures participated in the production of 3 films, “The Wandering Earth 2”, “No Name” and “Exchanging Lives”. Huace Film and Television and Hengdian Film and Television participated in two films, “The Wandering Earth 2” and “Bear Infested”. Bona Films produced and distributed “No Name”.

According to the analysis of Zhu Zhu, an analyst at Huaxin Securities, there are more than 20 producers and co-producers of “Wandering Earth 2”, “Man Jianghong” and “Bear Infested”, and the benefits are relatively average; there are 11 producers and co-producers of “Exchange Life”, There are a total of 30 producers and co-producers of “Chinese Ping Pong: Jedi Counterattack”; there are fewer producers and co-producers of “No Name” and “Deep Sea”, which in turn shows that the proportion of their production companies is relatively high.

Zhu Zhu predicts that, looking at the Spring Festival box office (excluding service fees), it will increase from 800 million yuan in 2013 to 5.5 billion yuan in 2022, of which 7.2 billion will be achieved in 2021. ) is 6.2 billion yuan. At the same time, from the perspective of quarterly performance, the national box office (excluding service fees) increased from 9.548 billion yuan in the first quarter of 2015 to 12.788 billion yuan in the first quarter of 2022, but the year-on-year growth rate of the box office in the first quarter of 2022 declined. Box office growth is expected to increase in the first quarter of this year.

Based on the opinions of Guotai Junan Hong Kong, Wanlian Securities and other research reports, the total box office (including service fees) of the Spring Festival stalls in 2023 is expected to be in the range of 8 billion to 9 billion yuan. According to the analysis of Wanlian Securities, the optimization of epidemic prevention policies + a slight drop in pre-sale ticket prices + high enthusiasm for movie viewing and other multiple benefits will drive the performance of the Spring Festival stalls. The box office of the Spring Festival stalls in 2023 is expected to create a new high in recent years.

Source: The Paper