China's summer box office income has soared to a record level. It is one of the few highlights in China's consumption field. Economic challenges have exacerbated people to consume more cautiously.
CCTV reported that according to the statistics of the National Film Bureau of China, as of Friday (August 18), the box office of the movie in 2023 has reached 17.8 billion yuan (RMB, the same below, about S $ 3.3 billion), The highest box office record in the same period of Chinese film history.
It is reported that although many imported films have participated in market competition this summer, China's domestic film leadership has obvious advantages, and its market share accounts for 86.15%, a record high.
According to Bloomberg, Chinese suspense criminal films disappeared this year's third box office movie. As of Friday, the box office has exceeded 3.5 billion yuan, ranking 12th in the box office in Chinese film history.
The prosperity of the film industry highlights the increasingly differentiated consumption model of Chinese consumers.A series of data shows the deterioration of the economy, including the continuous intensive real estate crisis, making Chinese consumers more cautious. Many people are more willing to spend money on personal experiences such as dining and travel instead of buying large items.
