The release of Greta Gerwig’s “Barbie” in China has not lived up to expectations, as it finds itself struggling to compete with local Chinese blockbusters. Despite considerable fanfare, the Warner Bros. comedy-fantasy is projected to finish its opening day in fifth place, with only $670,000 in earnings as of 12 p.m. local time.
In contrast, Christopher Nolan’s “Oppenheimer” has been approved for release by China’s censors but has yet to receive a release date. It is anticipated that the release of the Universal Pictures historical thriller in China will be at least a month away.
The underperformance of “Barbie” in China is part of a larger trend where Hollywood films are earning significantly less than they used to. Tom Cruise’s “Mission: Impossible – Dead Reckoning Part One” recently had a disappointing opening weekend in China, coming in third place behind two successful local Chinese hits.
Although Hollywood films are flowing into Chinese cinemas at a healthy rate, total ticket sales for U.S. movies in the first half of 2023 were just $592 million, a steep decline of 69% from the $1.9 billion earned during the same period in 2019, before the pandemic. On the other hand, Chinese movies are experiencing a surge in popularity, with ticket revenue for Chinese titles reaching $2.8 billion in the first half of the year, a 27% increase from 2019.
Related Post
While “Barbie” faced challenges, Chinese tentpole films were thriving at the box office. Action comedy “Wonder Family,” produced by hit-making company FunAge Pictures, earned $4.6 million in sales by 12 p.m. on Friday. Meanwhile, the first installment of Chinese director Wuershan’s historical fantasy “Fengshen Trilogy,” dubbed “China’s answer to Lord of the Rings,” was on track for second place with about $2.4 million in earnings. “Fengshen” had an impressive opening on Thursday with $7.5 million and strong word of mouth. Animated hit “Chang An,” which has already earned $128 million to date, was in third place with $2.1 million on Friday. MMA drama “Never Say Never” followed closely behind with approximately $1 million in earnings for the first half of the day, bringing its total to $239 million.
It is important to note that these figures are subject to change as updates become available.
Overall, while Hollywood films are struggling to make a significant impact in China, local Chinese movies continue to dominate the box office. The preference for homegrown content among Chinese audiences has contributed to the decline in earnings for Hollywood films in the country. As the Chinese film industry continues to thrive, it will be interesting to see how Hollywood studios adapt their strategies to regain their footing in this crucial market.
