Film market sees revenue plunge

According to a report by Beacon, Alibaba Pictures' film data analytics arm, the proportion of theatergoers under 24 plummeted to just 17 percent during this year's May Day holiday — a dramatic drop from 38.4 percent during the same period in 2021.

Lai Li, a veteran analyst at Maoyan Research Institute, reveals that their report shows the under-20 demographic now accounts for less than 10 percent of movie audiences — the lowest ratio on record — while the share of audiences aged older than 35 has grown steadily for four consecutive years.

"The film market is losing its core young demographic," observes Beijing-based critic Yuan Yun'er, highlighting industry concerns as cinema celebrates its 130th anniversary while seeing its appeal wane among younger viewers.

"This shift stems from multiple factors, including pandemic-altered entertainment habits and declining film quality," she adds.

On the review platform Douban, the highest-grossing films during the May Day holiday have received comparatively lower ratings: The Dumpling Queen scored 6.6 points, A Gilded Game 6.3, and The Open Door 6.6.