Impact of COVID-19 + Patriotic Film Boom... Chinese Film Imports Surpass US

Moviegoers wearing masks at a cinema in Hangzhou, China [Image source=AP Yonhap News]

[Asia Economy Reporter Kim Eunbyeol] As the novel coronavirus disease (COVID-19) has spread worldwide, causing the film industry to shrink, China's film imports have surpassed those of the United States to become the world's largest film market. With the continued spread of COVID-19 in the U.S., it seems likely that China will maintain its top position for the time being.

According to People's Daily and others on the 17th, the total box office revenue in China from the beginning of this year until the 14th reached $1.93 billion (approximately 2.2117 trillion KRW), surpassing North America's $1.925 billion during the same period. This is the first time that the size of China's film market has exceeded that of the U.S.

It appears to be due to the simultaneous reopening of cinemas across China since last summer and the success of patriotic films. The anti-Japanese war film "Babaei," screened following the reopening of theaters in China, gained explosive popularity, earning 5 billion yuan in box office revenue.

During China's largest Golden Week holiday, the National Day on the 1st, the Chinese film "My People, My Homeland" was released, earning 2.26 billion yuan in just fifteen days. On the 1st alone, the number of moviegoers across China reached 18.36 million.

Domestic films accounted for 84% of China's box office revenue.

This content was produced with the assistance of AI translation services.