Mainland China’s 2026 Lunar New Year box office reached RMB5.75 billion ($835.5 million) during the Feb. 15-23 holiday period, down 39.5% year-on-year, with total admissions of 120 million, a 35.8% decline, according to Maoyan Research Institute’s “Insight Report on 2026 Spring Festival Holiday Box Office Film Data.”
The sharp drop follows last year’s phenomenon “Ne Zha 2,” which powered the 2025 Lunar New Year corridor to record levels and went on to earn $2.2 billion, creating an unusually high comparison base for 2026.
Only one day during the eight-day holiday frame surpassed RMB1 billion ($145.3 million), with Feb. 17 – the first day of the Lunar New Year – generating more than RMB1.2 billion ($174.4 million). It marked the first time in six years that the holiday’s average daily gross did not exceed RMB1 billion. The report
cites data from Maoyan Pro.
Despite softer demand, supply expanded. Total screenings exceeded 4.35 million over the period, the highest level in recent years, with average daily screenings above 550,000 from day one to day seven of the Lunar New Year, up 15% year-on-year. Average ticket prices fell to their lowest level in recent years, with third- and fourth-tier cities recording declines of more than 6% compared with a year earlier.
The market was heavily concentrated. Racing sequel “Pegasus 3” grossed RMB2.927 billion ($425.3 million) during the holiday frame, accounting for roughly half of total box office. The film logged 978,000 “want-to-see” marks ahead of release and delivered an opening-day gross of RM641 million ($93.1 million), both franchise highs.
Zhang Yimou’s spy thriller “Scare Out” followed with RMB867 million ($126 million). Yuen Woo-ping’s comic-adapted wuxia title “Blades of the Guardians,” starring Jet Li, earned RMB806 million ($117.1 million), while family animation “Boonie Bears: The Hidden Protector” took RMB713 million ($103.6 million).
“Blades of the Guardians” climbed from fourth place on opening day to second by day four, reflecting strong word of mouth.
Total advance sales reached RMB562 million ($81.7 million), reflecting softer pre-holiday momentum compared with last year.
Lower-tier markets again anchored the corridor. Third- and fourth-tier cities contributed 59% of total Lunar New Year box office, the highest share in six years. For most films, revenue from these markets exceeded 50%, while “Boonie Bears: The Hidden Protector” derived more than 65% of its gross from third- and fourth-tier cities. Four cinemas in fourth-tier cities ranked among the national top 10 by box office during the period.
The report also noted a shift in audience structure, with a tilt toward older male moviegoers during the holiday, driven by “Pegasus 3” and “Blades of the Guardians,” while overall per-capita viewing frequency declined year-on-year.
Maoyan Entertainment market analyst Lai Li said the period reflected the continued strength of leading IP alongside a word-of-mouth-driven rebound for high-quality titles, while consumption potential in lower-tier markets was further unlocked. Lai added that the market is expected to optimize content supply, explore a broader range of genres and themes and continue unlocking consumer demand, supporting the industry’s development toward greater efficiency and growth.