Surprise Blockbuster Tops ‘Avengers’ in China Box-Office Rebound
“Ne Zha,” which tells the story of an underdog demon-child, grossed 4.6 billion yuan ($644 million) as of Aug. 28.
(Bloomberg) --
A surprise hit animated film is set to become China’s second-biggest movie ever, driving summer box-office sales toward a record in a season marred by increased censorship concerns.
“Ne Zha,” which tells the story of an underdog demon-child who chooses good over evil to avoid a terrifying fate, grossed 4.6 billion yuan ($644 million) as of Friday, according to Maoyan Movie data. Total revenue from movies is set to reach 7.2 billion yuan this month, Maoyan predicts, an all-time high for August.
The blockbuster, produced by Beijing Enlight Media Co., is a bright spot in a gloomy summer for Chinese cinema when some major films were pulled for reasons unknown amid speculation the government was tightening control over content. The success of “Ne Zha” also shows the dominance of local fare, even as Hollywood continues to rely on the market to make up for weakening U.S. sales.
“Ne Zha” has given a boost to the country’s film industry and to the market share of Chinese films, said Rance Pow, chief executive officer of cinema industry consulting firm Artisan Gateway. “Long-term, we remain bullish on the China market.”
Within weeks after its July 26 release, “Ne Zha” blew past “Avengers: Endgame,” the superhero franchise by Walt Disney Co.’s Marvel that raked in about $614 million in China and set records elsewhere this spring. Shares of Beijing Enlight Media have gained about 26% in the past two months. The rally compares with a 3.1% decline on the Shanghai Stock Exchange Composite Index.
Alibaba Group Holding Ltd. affiliate Hangzhou Ali Venture Capital Co. is Beijing Enlight’s second-biggest investor with about 8.8% as of March 31, according to data compiled by Bloomberg.
The 3D film is the first feature for 38-year-old director Yang Yu, also known as Jiaozi, a pharmacy college-dropout. The movie is now China’s biggest animation ever, surpassing 2015’s “Monkey King: Hero Is Back,” which grossed $153 million, according to Box Office Mojo.
While China’s box office sales are still down year-to-date, the response to “Ne Zha” suggests local films scheduled for the national holidays in October could do well enough to fuel a 2019 gain overall. “The Climbers,” “The Chinese Pilot” and “Me and My Country” are set to screen over the seven-day break and have commercial themes that have appealed broadly to filmgoers, said Liu Peng, head of Maoyan’s research institute.
In terms of blockbusters, 2019 already has at least one record in China. “Ne Zha” is the third movie this year that’s pulled in more than $550 million.
“This has never happened before,” said Liu. “It’s a sign of an increasing box-office divide, with blockbusters getting a larger market share. It has increased the riskiness of the movie industry.”
The biggest hits may have been helped by less competition after some movies with top talent and high expectations were dropped from festival lineups and debut schedules.
In February, director Zhang Yimou’s “One Second” was withdrawn from the Berlin Film Festival and has since been subject to a series of government-ordered re-cuts, the Hollywood Reporter said. Also, Guan Hu’s “The Eight Hundred” was withdrawn without explanation before a planned July 5 premiere.
To contact the reporter on this story: Shirley Zhao in Hong Kong at xzhao306@bloomberg.net
To contact the editors responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net, Dave McCombs
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