The Chinese New Year is always a highly lucrative period for the country’s film industry, and this year was no exception. As the Year of the Dragon was ushered in on Saturday, the box office numbers soared. According to early figures from Maoyan, the first two days of the Spring Festival in 2024 raked in an impressive RMB 2.44 billion ($339 million), coming in just slightly below the earnings for the same days in 2023. Despite a generally muted international box office, the Chinese New Year festivities brought a much-needed boost to the film industry in China.
Although Maoyan’s Pegasus 2 claimed the top spot on the first day of the holiday, it was ultimately the inspirational film YOLO that emerged victorious for the weekend. Directed by Jia Ling and produced by CFG/Alibaba, YOLO earned an estimated RMB 804 million ($112 million) across the two-day stretch. The film tells the story of Le Ying, an unemployed woman in her 30s who lives with her parents until her life takes an unexpected turn when she meets a boxing coach. Jia Ling, who also stars in the film, underwent an incredible physical transformation, losing 50 kilos for her role. This added an element of suspense and intrigue to the film’s promotional events. YOLO has gained international attention, with Sony acquiring international distribution rights and also securing remake rights to Jia’s previous hit film, Hi, Mom.
While YOLO claimed the top spot, Pegasus 2 secured second place, earning an estimated RMB 760.2 million ($105.6 million). The film follows a former racing champion who becomes a driving instructor and receives an offer to lead a new team. With a high rating of 9.7 on Maoyan, Pegasus 2 is predicted to finish with a total of RMB 3.3 billion ($460 million). Boonie Bears: Time Twist, an animated film celebrating the 10th anniversary of the franchise, took third place with RMB 443.4 million ($62 million) and a forecasted total of RMB 2.3 billion ($320 million).
Zhang Yimou’s Article 20 earned RMB 337.1 million ($47 million), securing fourth place, while Viva La Vida and The Movie Emperor failed to gain traction and landed fifth and sixth place, respectively. The Chinese New Year period continues to be a critical time for the local film industry, with many films not only dominating the domestic market but also attracting international attention.
While the Chinese box office experienced a surge, the international market stayed relatively muted. Sony’s romcom Anyone But You saw a modest decrease of just 30% in its weekend earnings, adding $9.7 million in 50 markets. The film has now surpassed Ticket to Paradise worldwide, with an offshore cume of $90 million and a global total of $170 million. Strong holds were observed in markets such as Belgium (+1%), Australia (-4%), France (-9%), Spain (-18%), Brazil (-20%), UK (-24%), Netherlands (-25%), and Germany (-33%). The top five markets for Anyone But You to date are Australia ($13.7 million), UK ($12.6 million), Germany ($10.3 million), Mexico ($6.8 million), and Italy ($5.6 million).
Argylle, an Apple Original Films production, saw a 46% drop in its overseas earnings, bringing its total to $31.3 million internationally and $60.1 million globally. The movie performed above The Man from U.N.C.L.E. but in line with The Gentlemen. Although Matthew Vaughn is popular in Korea, the film had a slow start, earning just $753K at 520 locations. The top five markets for Argylle are the UK ($4.7 million), Australia ($2.8 million), France ($2.6 million), Mexico ($2.6 million), and Germany ($2.4 million). The film is still awaiting release in China and Japan.
Wonka, produced by Warner Bros, Village Roadshow, and Heyday Films, earned an estimated $8.5 million from 74 overseas markets. With a total of $382.3 million internationally and $587.6 million globally, the film continues to perform well. It held onto the number one spot in Korea, experiencing just a 16% decline during the Lunar New Year holiday weekend. It has now surpassed the lifetime grosses of The Greatest Showman and Fantastic Beasts: The Secrets of Dumbledore in the Korean market. The UK remains the top performing market for Wonka with $77.3 million, followed by France ($30.1 million), Mexico ($27 million), Australia ($25.5 million), and Germany ($24.3 million).
Migration, a film from Illumination/Universal, added $6.7 million from 79 markets to its international cume of $125 million and worldwide total of $235.2 million. The film debuted in Hong Kong, grossing $297K, surpassing Sing 2 in a crowded market during the Lunar New Year festival. Migration still held the number one spot in its second week in the UK, reaching a total of $8.4 million and performing on par with Elemental and above Moana and Wish at the same point. The film is expected to benefit from the upcoming half-term holidays in the UK. Germany has also exceeded expectations, earning $18 million and surpassing the lifetime gross of Puss in Boots 2 and performing in line with Sing at the same point. The top five markets for Migration are Germany ($18 million), France ($11.1 million), Australia ($10.3 million), Mexico ($8.8 million), and the UK ($8.4 million). The film will be released in Japan on March 15.
Poor Things, a film with 11 Oscar nominations, experienced a 34% decrease in earnings across 43 overseas markets, adding $6.6 million to its international total, which now stands at $50.9 million. The film has grossed $81.2 million globally. Strong holds were observed in Spain (-26%), Germany (-27%), Australia (-29%), Mexico (-30%), France (-31%), Brazil (-32%), and the UK (-38%). The Netherlands had a successful opening with $500K, performing 41% ahead of Yorgos Lanthimos’ The Favourite. In Italy, Poor Things has reached $6.7 million, surpassing the lifetime grosses of Killers of the Flower Moon, The Hunger Games: The Ballad of Songbirds & Snakes, Mission: Impossible – Dead Reckoning Part One, and Knives Out. Italy is the second-largest market for Poor Things, with a total of $8.2 million. The top five markets for Poor Things are the UK ($8.2 million), Italy ($6.7 million), Mexico ($4.2 million), Germany ($3.9 million), and France ($3.4 million). The film will be released in Korea on March 6.
While the international box office remained relatively muted, China’s box office success during the Chinese New Year celebrations brought a much-needed boost to the industry. YOLO emerged as the surprise winner, attracting both domestic and international attention. As the Year of the Dragon continues, the