China Box Office: Four Chinese Films Dominate Global Cinema Revenues as Lunar New Year Haul Tops $1.1 Billion

Patrick Frater Asia Bureau Chief Veteran mainland Chinese director Zhang Yimou is to be honored twice over at the Asian Film Awards ceremony on Sunday. He will be presented with a lifetime achievement award and a separate prize for directing the highest-grossing Asian film of 2023.

After a successful return as a physical event last year, Hong Kong International Film & TV Market (Filmart, March 11-14) is taking place again this year against a complicated backdrop, both in terms of market realities and the shifting geopolitics of the region. 

Patrick Frater Asia Bureau Chief Taiwanese-produced crime action film “The Pig, the Snake and the Pigeon” opened on top of the mainland China box office over the weekend, ahead of a quartet of holdover titles from Lunar New Year. Sony’s ‘Madame Web’ and a rereleased “Dune” also opened, but they failed to penetrate the top five. “The Pig, the Snake and the Pigeon” earned $16.2 million (RMB115 million), according to data from consultancy firm Artisan Gateway.

Last week saw the global launch of Denis Villeneuve’s second “Dune” film, wrapping up the conclusion of the first novel adaptation while also leaving everything on a cliffhanger for a third movie that the filmmaker is co-writing with franchise screenwriter Jon Spaihts. Strong critical responses and audience word of mouth have paid off big time for the film as it has made some history over the weekend, becoming the biggest opening for the director and overperforming compared to the first part that was released back in September 2021.

Julio Torres’s directorial debut Problemista from A24 posted the highest per-screen average of the weekend with a solid limited opening, grossing $140.9k on five screens in New York and LA with multiple sold out Q&As.

Patrick Frater Asia Bureau Chief IQiyi, the Chinese streaming platform that is part of Baidu, revealed its first full year net profits, in 2023, even as its subscriber total dropped by more than 10%. The company enjoyed a 10% increase in revenue to RMB31.9 billion ($4.5 billion) in the year to December, it said in a regulatory filing on Wednesday. Net income was RMB1.9 billion ($271 million), compared with a loss of RMB136 ($19 million).

Patrick Frater Asia Bureau Chief Janet Yang, the Los Angeles-based producer and president of the Academy of Motion Pictures Arts and Sciences, has been appointed as an independent non-executive director to the board of Imax China, a subsidiary of premium large format cinema company Imax that has its own share listing on the Hong Kong Stock Exchange. The company, Wednesday, reported a return to net profits of $27.5 million for the 2023 calendar year. That compared with net profit of $10.8 million in 2022.

Imax saw sales dip in the fourth quarter to $86 million from $98 million, in line with Wall Street forecasts, as the company focused on the full year and its accelerated global expansion. The stock in up in after-market trading.

Patrick Frater Asia Bureau Chief The four strongest Chinese titles that launched over the Lunar New Year holidays continued to dominate the mainland China and global office charts for a third successive weekend, albeit with a change of order that put Zhang Yimou’s “Article 20” in top spot. Global box office tracking service ComScore showed “Article 20,” “Pegasus 2,” “YOLO” and “Boonie Bears: Time Twist” as ranking first, second, fifth and sixth, respectively, in the world over the latest weekend. Within mainland China, the quartet’s numbers were sufficiently solid that the year-to-date aggregate is now closely comparable to 2023’s.

Warner Bros has dated Mickey 17 for Jan. 31, 2025 — a very odd date for a highly anticipated follow-up from Oscar and Cannes Palme d’Or winning Parasite filmmaker Bong Joon-ho.

Patrick Frater Asia Bureau Chief Two Taiwan-based production companies with features in this week’s Berlin Film Festival have joined forces to launch new venture, Long Hu Bao × An Attitude. Taiwan’s Yi Tiao Long Hu Bao International Entertainment, is one of eight co-producers on main competition film “Shambhala,” from Nepal’s Min Bahadur Bham.

Patrick Frater Asia Bureau Chief French shingle MK2 will handle international sales on “We Shall Be All,” a new epic from Jia Zhangke, China’s pre-eminent indie film director.Announced last year, the film has been a labor of love over more than 20 years for Jia. His previous works, including “Platform,” “Unknown Pleasures” and “Still Life,” have chronicled the rapid economic development of China and its impact on people and society.

Refresh for latest…: Paramount’s Bob Marley: One Love brought folks together around the world in its opening frame, singing up a sweet estimated $80M global bow. After coming on strong in early overseas play this week, and as audiences turned a deaf ear to critics, the international box office portion of that is $29M, landing well ahead of expectations.

Michaela Zee Paramount’s “Mean Girls” musical made fetch happen after surpassing $100 million at the global box office. The oh-so pink movie musical has generated $101.2 million worldwide after six weeks of release, including $71.2 million in North America and $30 million from 31 international territories. Based on the Broadway adaptation of the 2004 comedy classic, “Mean Girls” was originally commissioned with plans to make a streaming debut directly on Paramount+, but executives opted for a theatrical release after enthusiastic test screenings.

Patrick Frater Asia Bureau Chief The Hong Kong-Europe-Asian Film Collaboration Funding Scheme being launched this week in Berlin is intended as a major component of an exercise in rehabilitating and internationalizing the Hong Kong film industry. In unprecedented fashion, the territory’s Film Development Council is getting ready to start giving cash grants to movie projects that don’t necessarily have to shoot in the city or even use one of its three official languages.

Patrick Frater Asia Bureau Chief On Saturday, audiences in Berlin will see the world premiere of “Above the Dust,” a Chinese-made drama that plays somewhat incongruously in the Generation Kplus section, which screens films for or about children. Whether the film plays again, and where, is moot.

Patrick Frater Asia Bureau Chief In January, when Netflix unveiled its slate of Chinese-language original productions for 2024, all of them turned out to be Taiwanese. Not Chinese. And not from Hong Kong, a territory that once produced over 300 movies a year in multiple Chinese dialects.

Patrick Frater Asia Bureau Chief Taipei and Los Angeles-based Organic Media Group has picked up rights to U.S.-produced classical music documentary title “Crescendo” and will be launching it at the European Film Market, which accompanies the Berlin Film Festival. The picture had its first commercial release in South Korea in December and became the highest grossing foreign documentary in the last three years.

Paramount’s Bob Marley: One Love had offshore audiences getting together and feeling more than alright in Wednesday international box office play. Beginning overseas release yesterday, the Reinaldo Marcus Green-directed biopic grossed $4.9M across 10 markets, several of them giving the story of the reggae icon No. 1 status and the biggest or second-biggest launch day ever for a music biopic — in Jamaica, it scored the biggest opening day of all time. 

Leo Barraclough International Features Editor Beta Cinema has sold political thriller “Hammarskjöld — Fight for Peace,” which is a box office hit in its home territory Sweden, to multiple key territories. Sales include Italy (Rai Cinema), France (Swift Prods.), Spain (Twelve Oaks), Portugal (Outsider Films) and former Yugoslavia (Discovery). A U.S.