China's 2024 box office hits 40 bln yuan, showcasing market resilience

China's 2024 box office revenue reached 40 billion yuan (US$5.56 billion) as of Wednesday, according to film data platform Maoyan.

While this figure marks a decline of 21 percent from the same period last year, analysts nonetheless highlight the resilience and potential of the country's evolving film market.

Currently, eight of the top 10 highest-grossing films of the year are domestic productions. Leading the pack are Jia Ling's weight-loss comedy "YOLO," Han Han's racing comedy sequel "Pegasus 2," and "Successor," a comedy starring Shen Teng and Ma Li – each earning between 3.3 billion and nearly 3.5 billion yuan at the box office.

Hollywood's "Godzilla x Kong: The New Empire" and Japanese animated feature "The Boy and the Heron" are the most successful foreign films so far this year, ranking ninth and tenth, while earning 957 million yuan and 791 million yuan, respectively.

"The market is advancing amid fluctuations," said Lai Li, an analyst at Maoyan, noting that periods like the Spring Festival continue to exhibit strong audience demand.

Notably, comedy has emerged as the standout genre of 2024, according to Chen Jin, an analyst with box office tracker Beacon.

Films with comedy as a core element have collectively earned nearly 20 billion yuan, he said, accounting for half of the year's total box office revenue to date.