传媒互联网：以价换量助力观影人次创新高，24年春节档票房达影史最高纪录

Industry Investment Rating - The industry is rated as "Positive," with an expectation that the overall return will exceed the CSI 300 Index by more than 5% in the next six months [9]. Core Insights - The report indicates a continuation of the recovery trend in the film market, with record-breaking box office performances during the 2024 New Year and Spring Festival periods. The total box office for the 2024 Spring Festival reached 8.016 billion yuan, a year-on-year increase of 18.49% compared to 6.765 billion yuan in 2023, surpassing the previous record of 7.842 billion yuan in 2021 [4][6][7]. - The increase in effective screening days from 6 to 8 days during the Spring Festival is identified as a primary driver for the box office growth. Additionally, the supply of quality content and the recovery of demand are also significant factors contributing to the record box office [4][6]. - The report highlights a rich pipeline of films scheduled for release in 2024, including sequels and adaptations of popular IPs, which are expected to support continued box office growth [6][7]. Summary by Sections Sub-industry Rating - The report emphasizes the positive outlook for the film industry, suggesting that the overall market will continue to recover and grow [5]. Event Analysis - The 2024 Spring Festival box office performance is analyzed, noting the effective days of screening and the impact of quality content on audience engagement [4][6]. Supply and Demand Dynamics - On the supply side, the report notes that diverse and high-quality content has driven box office potential. The top three films accounted for 81% of the total box office, with an average Douban score of 7.7, higher than the previous year's average of 7.2 [4][6]. - On the demand side, ticket subsidies have lowered average ticket prices, leading to a record 164 million admissions during the Spring Festival, driven by a strategy of "price for volume" [4][6]. Future Outlook - The report forecasts continued growth in the film market for 2024, supported by a rich film slate and changes in distribution strategies that are expected to benefit the entire film industry chain [6][7].