Theatrical box office in China passed the symbolic landmark of RMB50 billion on Monday, government sources announced. At existing exchange rates, that is an all-time record of about $7.55 billion.
The figures, issued by the National Film Ticketing Integrated Information Management System, show that the recent resurgence in Chinese cinema-going is continuing. Admissions totaled 1.45 billion to Monday.
The figures already exceed 2016’s full-year total of RMB45.5 billion and point to an annualized growth rate of 15%. That is down from the spectacular 49% gain in 2015 but a marked improvement on the unexpected slowdown of 2016, when revenues increased by only 4%. Prior to the restructuring of the film industry in 2001-2, China’s box office was less than RMB1 billion.
The data shows Chinese films enjoying a 52% market share. Seventy-eight films enjoyed gross revenues of more than RMB100 million ($15 million). This year’s gross data has not been adjusted to exclude the fees levied by online ticketing agencies.
The top film of the year is “Wolf Warriors 2,” ahead of “Furious 8.”