The Lunar New Year holidays are typically a lucrative time for the cinema box office, but this year, Hong Kong faced disappointment as ticket sales fell short of expectations. From February 9th to 13th, movie theater revenue in Hong Kong amounted to only HK$48.6 million ($6.23 million), a significant 24% decrease from the previous year's HK$64 million earnings, according to data from Hong Kong Box Office Limited.
Unlike mainland China, which enjoys a week-long celebration of the Lunar New Year, Hong Kong only observes three days as public holidays. This year, one of those days fell on a Saturday, meaning businesses were only closed for four consecutive days (Friday to Tuesday). This shorter holiday period may have contributed to the lower box office numbers.
Differing tastes between Hong Kong and mainland China audiences also play a role in the disparity. The top-grossing film during the Lunar New Year holidays in Hong Kong was 'Table for Six 2,' a sequel to a popular Hong Kong comedy from the previous year. It earned HK$21.1 million ($2.71 million). Following closely behind was the local thriller 'The Moon Thieves' with HK$11.4 million ($1.46 million). Another local film, the crime thriller 'Rob N Roll,' made HK$5.12 million ($656,000) in its opening four days, securing the third spot on the box office chart.
Meanwhile, the Japanese animated film 'Spy x Family: Code White' claimed the fourth position with HK$4.78 million ($612,000) during the holiday period, bringing its cumulative earnings to $12.2 million ($1.56 million). Unfortunately, 'Migration,' which debuted a day earlier alongside the local trio, failed to make a significant impact, earning only HK$3.32 million (HK$426,000) and securing the fifth spot. Similarly, 'Argylle,' which opened a week before the Lunar New Year, amassed a meager HK$1.56 million ($200,000) during the holiday period, resulting in a cumulative total of HK$4.68 million ($60,000).
In contrast, mainland China's box office season is thriving. The top film, 'YOLO,' earned an impressive RMB1.91 billion ($265 million) in less than five days. The booming success of movies in mainland China further highlights the contrasting preferences and box office performance between Hong Kong and the mainland.
While the Lunar New Year holidays in Hong Kong did not meet expectations at the box office, it is important to note that various factors, such as the shortened holiday period and distinctive audience preferences, contribute to these results. Nonetheless, the film industry remains resilient, continuously captivating audiences with a diverse range of offerings.
