According to the “2026 Spring Festival Holiday Box Office Movie Data Insights Report” by Mo Yan Research Institute, the 2026 Spring Festival box office revenue in mainland China during the holiday period from February 15 to 23 reached 5.75 billion yuan ($835.5 million), down 39.5% year-on-year, and the total number of admissions was 120 million, down 35.8%.
The plunge follows last year’s phenomenon “Ne Zha 2,” which pushed the 2025 Lunar New Year Corridor to record levels and went on to gross $2.2 billion, an unusually high level on a comparative basis for 2026.
During the eight-day holiday period, only one day exceeded RMB 1 billion ($145.3 million), and on February 17, the first day of the Lunar New Year, it exceeded RMB 1.2 billion ($174.4 million). It was the first time in six years that average daily sales during the holiday did not exceed 1 billion yuan. report
Citing data from Maoyan Pro.
Supply expanded even as demand slumped. The total number of screenings during the period exceeded 4.35 million, the highest level in recent years, and the average number of screenings per day from the first to the seventh day of Lunar New Year exceeded 550,000, an increase of 15% from the previous year. Average ticket prices fell to their lowest levels in recent years, with tier 3 and tier 4 cities recording a decline of more than 6% year-on-year.
The market was highly concentrated. The racing sequel “Pegasus 3” grossed RMB2.927 billion ($425.3 million) in the holiday window, accounting for about half of the total box office. The film hit the 978,000 “want to see” mark before its release, and its first-day box office gross was 641 million ringgit ($93.1 million), both the highest in the series.
Zhang Yimou’s spy thriller “Scare Out” followed with RMB867 million ($126 million). Yuen Woo-ping’s cartoonized martial arts title Blades of the Guardians, starring Jet Li, grossed RMB806 million ($117.1 million), and family animation Boonie Bears: Hidden Guardians grossed RMB713 million ($103.6 million).
“Blades of the Guardians” rose from 4th place on its first day of release to 2nd place on its fourth day, reflecting strong word of mouth.
Total pre-sale sales reached RMB 562 million ($81.7 million), reflecting weaker pre-holiday momentum compared to last year.
The lower market once again anchored the corridor. Tier 3 and 4 cities accounted for 59% of the total Lunar New Year box office revenue, the highest share in the past six years. While most films derive more than 50% of their revenue from these markets, “Boonie Bears: The Hidden Protector” derives more than 65% of its box office revenue from tier 3 and 4 cities. Four movie theaters in fourth-tier cities ranked in the top 10 nationwide in terms of box office revenue during the period.
The report also points to changes in audience structure, such as a shift toward older male moviegoers during the holidays due to Pegasus 3 and Blades of the Guardians, with overall viewing frequency per person decreasing year-on-year.
Lai Li, market analyst at Maoyan Entertainment, said the period reflected the continued strength of top-tier IP and word-of-mouth recovery of high-quality titles, further unlocking consumption potential in lower-tier markets. Lai added that the market is expected to optimize content supply, explore a wider range of genres and themes, and continue to unlock consumer demand, supporting the industry’s development towards further efficiency and growth.
