Bhupen Dange on March 16, 2022
In the past couple of months, Hollywood just hasn’t been able to get back on its feet in Chinese territory. Just as covid restrictions were getting toned down in the US, a Covid outbreak spanning more than half of China has put a shutter on Cinemas and slowed down consumer activity overall. The situation is looking dire for The Batman opening in the territory.
Over the past week, approximately 30 percent of all Chinese movie theaters have been temporarily shut down. The major population region like Shanghai and Shenzhen have hit the hardest with this restriction.
The movie sector has been looking forward to the China release of Matt Reeves’ The Batman on Friday. While initially speculated to open at $25 million to $30 million range in the territory, the latest tracking suggests an opening of just $15 million to $20 million.
“Our optimistic assessment is that Warners will be lucky if The Batman opens above RMB 100 million ($15.7 million),” adds James Li, co-founder of Beijing-based film industry market research firm Fanink, which has been tracking the title. “On the pessimistic side, they may be lucky to get half that,” he says. “There are four tier-one cities in China (Beijing, Shanghai, Guangzhou and Shenzhen), and these are the major markets where moviegoers tend to be the most pro-Hollywood — and half of them are currently shut down.”
The Batman has earned $245 million domestically, with about $472 million worldwide. Given the current condition, it is projected to head for a poor opening in China; if the country leaders fail to handle the surging situation, this would mean misfortune not just for the box office but also for other businesses around the world as China is a significant part of the global economy.
What’s your take on this story? Sound off in the comments!
March 16, 2022 3:12 pm
Disqus Comments Loading...
Must See Photos
