传媒行业跟踪报告：2024年春节档创影史新高，档期形成双头部格局

Investment Rating - The industry investment rating is "Outperform the Market," indicating a projected increase of over 10% in the industry index relative to the broader market within the next six months [25]. Core Insights - The 2024 Spring Festival box office reached a historical high of 8.02 billion yuan, a year-on-year increase of 18.5%, driven by an extended holiday period and the inclusion of Valentine's Day within the festival [1][9]. - Audience attendance surged significantly, with 160 million viewers, while the average ticket price slightly decreased by 3.1 yuan to 49.2 yuan, still maintaining a high level historically [15][17]. - The box office was dominated by two major films, "Hot and Spicy" and "Racing Life 2," which together accounted for over 63% of the total box office, showcasing a clear tiered structure in film performance [17][20]. Summary by Sections Market Performance - The overall box office performance was exceptional, with the Spring Festival benefiting from the dual holiday effect of the Spring Festival and Valentine's Day, leading to record ticket sales [1][9]. - The daily box office performance remained stable, with a peak on the fifth day of the festival, coinciding with Valentine's Day, reaching 1.158 billion yuan [9][15]. Internal Structure - The box office was significantly supported by headliner films, with "Hot and Spicy" leading at 2.715 billion yuan (33.8% of total box office) and "Racing Life 2" following closely at 2.396 billion yuan (29.9%) [17][18]. - The second tier included "Boonie Bears: Back to Time" and "The Twentieth," both exceeding 1.3 billion yuan, while the third tier films did not surpass 100 million yuan [17][20]. Investment Recommendations - The strong performance during the New Year and Spring Festival periods creates a positive outlook for the 2024 film market, supported by recovering production efficiency, renewed audience enthusiasm, and macroeconomic recovery [22]. - It is recommended to focus on high-quality film production companies, distributors, and leading cinema chains [22].