Last Updated on 2023/12/28
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Sharp Decline in Hong Kong’s Christmas Box Office Marks Two-Decade Low.
In a significant downturn for the Hong Kong film industry, cinemas in Hong Kong experienced a 20-year low in box office revenues this Christmas season, with earnings amounting to approximately HK$19.6 million. This figure represents a substantial 40% decrease from the previous year’s earnings, which were over HK$32 million.
Details of the Decline
Crucindo Hung Cho-sing, chairman of the Hong Kong Motion Picture Industry Association (MPIA), characterized this downturn as the “worst year” he has witnessed in the industry. He attributed this slump, in part, to Hongkongers choosing to spend their extended Christmas vacation traveling, rather than attending local cinemas.
Top Grossing Films
The season’s top-grossing film was the superhero movie “Aquaman and the Lost Kingdom,” which earned HK$6.59 million. It was followed by “Wonka,” starring Timothée Chalamet, with a box office of HK$3.47 million, and the Disney animation “Wish,” which brought in HK$3.26 million.
According to Hung, in previous years, the most popular movie during this period could easily achieve daily revenues of around HK$4 million to HK$5 million. However, this year’s top earner, “Aquaman and the Lost Kingdom,” accumulated a total of just over HK$6 million from Christmas Eve to Boxing Day, indicating a stark contrast to previous years’ performance.
While Hung acknowledged that the tendency of Hongkongers to travel north affected the box office, he emphasized that this was not the sole reason for the downturn. He pointed out that many families opted for overseas travel, as this was the first post-Covid Christmas season in Hong Kong, impacting local cinema attendance.
Both the MPIA and the Hong Kong Theatres Association previously highlighted the Christmas season as a critical period for cinema business. The significant drop in box office revenues this year indicates a continued low level of local spending in the movie sector. Industry representatives have expressed concern over the ongoing challenges and the less-than-optimistic outlook for the business.
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Topics: Hong Kong Christmas box office record low, Hong Kong cinema revenue decline 2023, post-Covid impact on Hong Kong film industry, Aquaman box office earnings in Hong Kong, impact of travel on Hong Kong cinemas, Crucindo Hung’s take on film industry downturn, Disney Wish performance in Hong Kong market, Timothée Chalamet’s Wonka box office in Hong Kong, Hong Kong Theatres Association’s concerns, future of Hong Kong’s movie sector post-pandemic