After being forced to sit out the annually lucrative Chinese New Year period as the Covid crisis was just beginning in 2020, Chinese box office blasted to an all-time high during the comparable 2021 session.
This week, the Year of the Tiger will be ushered in beginning February 1 with eight movies poised to potentially set new records.
Projections are in the RMB 7B-8B+ range ($1.1B-$1.26B). Last year in the world’s biggest box office market, the week-long holiday reached RMB 7.8B ($1.2B at historical rates).The first full weekend of the Lunar New Year festivities dovetails with the beginning of the Winter Olympics in Beijing.
It’s likely that Friday’s opening ceremony (overseen by Zhang Yimou, who also has a movie coming out) will be widely watched at home, but tickets to the Games are not being sold to the general public in an attempt to avoid further Covid flare-ups.
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