When China’s theatrical sector roared back during the recent Lunar New Year holiday, hitting a record $1.2 billion in ticket revenue in a single week, a new strategy played a surprising role: surge pricing.
During 2019, the last full year of normalcy before the pandemic, a ticket to the movies in China averaged 37.2 Chinese yuan ($5.70 at current exchange rates).
During this year’s Lunar New Year holiday, average ticket prices rose to 48.9 yuan ($7.50) — and those were just the nationwide averages.
An opening-weekend ticket for the holiday’s most popular titles, such as Wanda’s comedy Detective Chinatown 3 or Beijing Culture’s family film Hi, Mom, was selling for as much as 150 yuan ($23) in the busiest commercial districts in some cities..
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