The box office of the Spring Festival in 2024 has broken 5 billion yuan.
According to the data of Lighthouse Professional Edition, as of 11: 46 on February 14th, the total box office (including pre-sale) of the Spring Festival in 2024 (February 10th-February 17th) exceeded 5 billion yuan, and YOLO’s Pegasus 2 and Boonie Bears: Time Twist were temporarily ranked in the top three box offices, and the total box office of these three films exceeded 4 billion yuan.
China Film (600977) told the The Paper reporter: "For the Spring Festival file, we think it is in line with expectations as a whole, and it also shows a good start for the film market this year."
In 2024, a total of nine films were scheduled for the Spring Festival, and as many as five films were produced and distributed by China films. At present, these five films are just the top five in the box office of the Spring Festival.
Chen Jin, a data analyst of Lighthouse Professional Edition, also mentioned that YOLO’s Pegasus 2, Boonie Bears: Time Twist and Article 20 contributed more than 95% of the box office. At the same time, the douban scores of YOLO’s "Pegasus 2" and "Article 20" are all above 7.9, which shows that both the general audience and the fans have recognized the quality of this year’s Spring Festival films.
YOLO performed brilliantly.
Among the top four movies in the box office, Chen Jin said that YOLO was the most eye-catching. The movie topped the box office on the second day of the New Year’s Day, and its box office, times, attendance and attendance rate were all one-day champions. According to the forecast of AI box office of Lighthouse Professional Edition, YOLO’s final box office is expected to exceed 4 billion.
YOLO is a work in which Jia Ling returned to the Spring Festival as a director after Hi, Mom. Jia Ling called it a film whose role has been reduced by 100 Jin, and she has become a boxer. However, the core of YOLO has nothing to do with boxing and losing weight, but a film that "learns to love herself".
For this film, Jia Ling "disappeared" from public view for more than a year, and it was precisely because of Jia Ling’s physical changes that "losing weight" became a big stunt in the film’s announcement stage. Some netizens simply and rudely calculated that if the movie finally grossed 4 billion yuan, every catty of meat lost by Jia Ling would be worth 40 million yuan.
YOLO’s filing information shows that the film was filed in June 2022 by Xinli Media Co., Ltd., which is also the producer of YOLO. The other producers are China Film Co., Ltd., Alibaba Pictures (Beijing) Co., Ltd., Tianjin Yuewen Film Culture Media Co., Ltd. and Beijing Dawan Entertainment Culture Media Co., Ltd. (Jia Ling holds 65% of the shares).
According to YOLO’s release notice, the film involves as many as 30 producers, co-producers, distributors and co-distributors. In addition, Sony Pictures officially won the global distribution rights in YOLO (excluding China and Japan) in Weibo, and earlier, the company also won the English version of the remake rights in Hi, Mom.
At present, the film is being shown, and the above-mentioned companies have not mentioned the benefits that YOLO may bring to their own companies, and most of them are guesses about the benefits that Jia Ling can get.
Compared with Jia Ling’s previous work, Hi, Mom, the film ranked third in the box office list of China film history with a score of 5.413 billion yuan. Beijing Culture (000802), which ranks first in the list of producers in Hi, Mom, has disclosed that it has benefited from Hi, Mom’s related revenue. When the cumulative box office revenue of Hi, Mom is about 2.725 billion yuan, the operating income of Beijing Culture from the box office of this film is about 60 million yuan to 65 million yuan. Traditionally, the sixth-ranked big bowl entertainment is less than Beijing culture. In other words, if Hi, Mom’s total box office reaches 5 billion yuan, Jia Ling’s income will not exceed 120 million yuan.
However, there are also media reports that this time, Jia Ling should be paid more in his new film (it is said that he earned 50 million in Hi, Mom), divided accounts, the right to speak, superimposed box office income, and Jia Ling’s commission for his new film. Analysts said that "Jia Ling’s income this time is expected to exceed 200 million yuan."
Jia Ling said at the road show in YOLO that her next work "Flowers Turn" (titled "Battle of Light") has entered the preparatory stage. The film was co-produced by the original crew of Hi, Mom and YOLO, and it is expected to be starring Jia Ling, Zhang Xiaofei and Andy.
According to the filing information of "Battle of Light" released by official website of the State Film Bureau, the filing unit of the film is WANDA CINEMAS (Hainan) Co., Ltd.
Spring Festival box office is expected to exceed brokerage expectations.
More than half of the Spring Festival holiday has passed. Up to now, only two films, YOLO and Pegasus 2, have grossed more than 1 billion yuan, and Bear Haunted: Reversing Time and Space has also performed well, with the box office exceeding 800 million yuan. In contrast, the box office of The Movie Emperor, directed by Ning Hao and starring Andy Lau, was less than expected. As of press time, the box office income was less than 72 million yuan. The other two animated films "The Lower Bound of the Eight Rings" and "Huang Qi: The Cat from Heaven" also performed poorly, and the box office income of the latter was less than 700,000 yuan.
China Merchants Securities said that the Spring Festival file is one of the core files of the whole year. From 2013 to 2023, the top two films in the Spring Festival file accounted for 60% to 80% of the box office. It can be seen that the head gathering effect of the Spring Festival file is becoming more and more obvious, and the share in the back row is severely compressed.
From 2014 to 2023, the Spring Festival has gone through 10 years, with more than 70 films released and a total box office of over 42 billion yuan. 2024 is the longest festival in history, and the main box office output day increased by 2 days compared with previous years. In the research report, Everbright Securities estimated the box office situation by using the price disassembly method and the film box office summation method. The comprehensive conclusion is that the box office of the Spring Festival in 2024 is expected to exceed 6 billion yuan.
Judging from the current box office performance, the movie box office of the Spring Festival in 2024 is likely to exceed the previous box office estimate of brokers. A film industry official told the The Paper that the box office of the Spring Festival in 2024 can surpass 6.758 billion yuan in 2023.
The Lighthouse Research Institute predicts that the total box office of the Spring Festival in 2024 will be between 7 billion yuan and 7.5 billion yuan. Chen Jin said that the 6-day Spring Festival box office in 2023 will account for 12.31% of the total box office in the whole year, and the Spring Festival box office in 2024 will last for 8 days. If the annual movie box office target in 2024 is 60 billion yuan, then the box office of the Spring Festival will exceed 7 billion yuan at a ratio of 12%.
The Paper reporters sorted out the box office data of the Spring Festival stalls in the first five years (from New Year’s Eve to the sixth day of the first month). In 2020, the Spring Festival stalls were cancelled due to the COVID-19 epidemic. The box office data from 2021 to 2023 were 7.822 billion yuan, 6.035 billion yuan and 6.758 billion yuan respectively, and the box office data in 2019 was 5.905 billion yuan.