The Maoyan Research Institute has released two comprehensive annual reports analyzing China's 2024 film market performance and its future growth potential, highlighting the increasing influence of women and young people among creators and audiences.

A moviegoer picks up tickets from a self-service machine at a cinema in Beijing, Aug. 21, 2024. [Photo/Xinhua]

The institute published the "2024 China Film Market Data Insight" on Jan. 1, offering analysis of box office results, audience demographics, film genres and market trends. The institute operates under Maoyan, China's leading entertainment ticketing platform, which functions as a box office tracker, film producer and analytics provider.

The data shows that in 2024, China's total box office reached 42.5 billion yuan ($5.82 billion), with over 1 billion cinema admissions. Director Jia Ling's sports comedy "YOLO" led the year with 3.46 billion yuan, making her the first woman to top China's annual box office rankings. While the Chinese film industry continued to face challenges in delivering premium content and blockbusters, movies released last year represented diverse genres and themes to meet varying audience preferences, demonstrating significant growth potential, the report stated.

According to the report, 501 new films were released in 2024, with 425 being domestic and 76 imported foreign films. Some thrilling movies, such as the Hollywood sci-fi horror film "Alien: Romulus" and the Taiwan crime action film "The Pig, the Snake, and the Pigeon," became unexpected hits at the box office and on social media. These films captivated audiences with innovative storytelling and graphic imagery. Meanwhile, the female-perspective film "Her Story" also shone brightly.

"These positive signals bring comfort to filmmakers and film industry professionals: the audience is still there, but their demands are changing. Looking to the future, the industry needs to seek innovation and create more contemporary works that closely align with audience demands," the report said.

The report pointed out that the greatest potential in the Chinese film market lies with younger audiences and those who visit cinemas less frequently. During key film seasons in 2024, tentpole films did not perform well, causing infrequent moviegoers to show less interest in watching films. Additionally, the average age of moviegoers has increased for four consecutive years, with only "A Place Called Silence" and "Alien: Romulus" in the annual box office top 10 attracting a relatively younger audience.

"As the market becomes more mature and cinema management stabilizes, it's increasingly important to clearly understand the target audience for films and improve precise marketing strategies. Future film projects need to focus on attracting young and infrequent viewers to boost overall box office revenue," the report suggested.

The report observed an increased audience appetite for comedic relief at theaters. The top five films of 2024 all featured comedy elements, each breaking the 2-billion-yuan mark at the box office. In contrast, traditional big-budget visual effects films underperformed. Contemporary realistic dramas depicting Chinese people's lives, hardships and struggles, previously a popular genre, also lost steam last year. 

Women have emerged as a dominant force in the Chinese film market, comprising nearly 60% of current audiences. Films addressing women's issues gained prominence in 2024, with "YOLO," "Her Story" and "Like a Rolling Stone" achieving both critical acclaim and commercial success, marking progress in female-centered narratives. Documentary and music-themed films also flourished, attracting more women to theaters.

The report also found that most new domestic films in 2024 were led by directors and actors born in or after the 1980s. However, the film market needs more projects from young and female creators to achieve balanced gender perspectives in youth-oriented content, according to the analysis.

The Maoyan Research Institute, in collaboration with 99 Consulting, released another report on Jan. 2 titled "2024 Key Words about Trends in Young People's Mindsets." The report examines contemporary youth perspectives through lifestyle, social interaction, expression and entertainment consumption. Using 24 keywords for analysis, the study highlights three core themes: "Unbinding and Reducing Burdens," "Energy Reloaded," and "Self-Awakening."

The opening ceremony of the 2024 China Golden Rooster and Hundred Flowers Film Festival in Xiamen, Fujian province, Nov. 13, 2024. [Photo/Xinhua]

The report reveals that young people increasingly choose lifestyles aligned with personal needs rather than societal expectations. They opt for practical and individualized educational and career paths, maintain mental independence and redefine relationships to meet emotional needs. Young people also seek excitement through personalized experiences, including immersive entertainment, travel to unique destinations and exploration of historical and cultural sites. A significant cultural shift in 2024 was the emergence of the "matrilineal perspective" among young women, challenging traditional male-dominant views and reshaping female identity in digital and daily life. These insights point toward evolving media consumption patterns, including film preferences.

The institute seeks to guide the film industry in creating content that reflects contemporary values and attracts younger audiences to theaters, while addressing current challenges and expanding beyond traditional cinema boundaries.

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