中原证券:春节档表现低迷票房低预期 关注优质内容建设、IP 孵化等全产业链公司
智通财经网·2026-02-26 03:54

Core Viewpoint - The overall performance of the 2026 Spring Festival box office is weaker than market expectations due to multiple factors, leading to a shift in focus towards quality content and diversified revenue streams in the film industry [1] Group 1: Box Office Performance - The total box office for the 2026 Spring Festival was 5.697 billion yuan, a year-on-year decrease of 40.09% [1] - The number of moviegoers reached 119 million, down 36.36% year-on-year, with an average ticket price of 47.87 yuan, reflecting a 5.86% decrease [1] - The performance is significantly lower than both 2025 and the lowest levels since 2018 for the same period, attributed to factors such as base pressure from 2025, increased travel demand, content mismatch, and competition from other entertainment forms [1] Group 2: Screening and Attendance - The total number of film screenings during the 2026 Spring Festival reached 3.88 million, an increase of 15.24% year-on-year, with an average of 554,300 screenings per day, marking the highest level in history [2] - Despite the increase in screenings, the average attendance per screening was 30.67 people, a decrease of 44.78% year-on-year, leading to a significant drop in cinema occupancy rates from 43.3% in 2025 to 22.2% [2] Group 3: Film Performance - "Fast and Furious 3" led the box office with nearly 2.927 billion yuan, accounting for 50.8% of the total box office, while its screening share was only 31.6% [3] - Other films like "Silent Awakening" and "Biao Ren: Wind Rises in the Desert" had box office earnings of 867 million yuan and 806 million yuan, respectively, indicating a clear gap in box office performance [3] - The distribution of box office earnings shows a significant gap, with only "Fast and Furious 3" nearing 3 billion yuan, while the 1 billion to 3 billion yuan range was empty, highlighting a clear disconnect in the Spring Festival film offerings [3]

CCSC-中原证券:春节档表现低迷票房低预期 关注优质内容建设、IP 孵化等全产业链公司 - Reportify