AceShowbiz - Mainland China’s 2026 Lunar New Year box office totaled RMB5.75 billion ($835.5 million) during the Feb. 15-23 holiday period, marking a 39.5% decrease compared to the previous year. Total admissions also fell by 35.8% to 120 million, according to the Maoyan Research Institute’s Insight Report on 2026 Spring Festival Holiday Box Office Film Data.

The significant decline follows the extraordinary success of last year’s Ne Zha 2, which propelled the 2025 Lunar New Year box office to record highs and eventually earned $2.2 billion, setting a challenging benchmark for 2026.

Only one day during the eight-day holiday surpassed RMB1 billion ($145.3 million), with the first day of the Lunar New Year, Feb. 17, generating over RMB1.2 billion ($174.4 million). This was the first time in six years that the holiday’s average daily gross did not exceed RMB1 billion. All data cited in this report is drawn from Maoyan Pro.

Despite weaker demand, the volume of screenings increased considerably. The total number of screenings during the holiday exceeded 4.35 million, the highest in recent years. Average daily screenings remained above 550,000 from the first through the seventh day of the Lunar New Year, representing a 15% year-on-year increase. Meanwhile, average ticket prices dropped to their lowest levels in recent years, with third- and fourth-tier cities seeing declines over 6% compared to the previous year.

The market was heavily dominated by the racing sequel Pegasus 3, which earned RMB2.927 billion ($425.3 million) during the holiday period—approximately half of the total box office revenue. The film recorded 978,000 “want-to-see” marks before release and achieved an opening-day gross of RMB641 million ($93.1 million), both franchise records.

Following closely was Zhang Yimou’s spy thriller Scare Out, which earned RMB867 million ($126 million). The comic-adapted wuxia film Blades of the Guardians, directed by Yuen Woo-ping and starring Jet Li, garnered RMB806 million ($117.1 million). The family animation Boonie Bears: The Hidden Protector took in RMB713 million ($103.6 million).

Blades of the Guardians notably rose from fourth place on opening day to second by the fourth day, reflecting strong word of mouth among audiences.

Total advance ticket sales reached RMB562 million ($81.7 million), indicating softer pre-holiday momentum compared to the previous year.

Lower-tier cities once again played a critical role in box office performance. Third- and fourth-tier cities contributed 59% of the total Lunar New Year box office, the highest share seen in six years. For most films, revenue from these markets exceeded 50%, with Boonie Bears: The Hidden Protector deriving more than 65% of its gross from these areas. Remarkably, four cinemas located in fourth-tier cities ranked among the national top 10 in box office earnings during the holiday period.

The report also highlighted a shift in audience demographics, with an increased presence of older male moviegoers during the festival, driven largely by Pegasus 3 and Blades of the Guardians. Overall, per-capita viewing frequency declined year-on-year.

Maoyan Entertainment market analyst Lai Li observed that the holiday period demonstrated the sustained strength of leading intellectual properties alongside a word-of-mouth-driven rebound for high-quality films. Lai noted that consumption potential in lower-tier markets was further unlocked during this period. Looking ahead, Lai expects the market to optimize content supply, explore a wider variety of genres and themes, and continue to unlock consumer demand, which will support the industry's growth toward greater efficiency and development.