China’s Top Three Streaming Giants Join Hands to Launch First Virtual Cinema Project for 2021 Spring Festival
The top three Chinese streaming sites Youku, iQIYI and Tencent Video have announced recently about their collaboration in launching the first-ever online cinema program together during the Spring Festival. Through their video-on-demand (PVOD) channels, new films will be premiered for their respective users to watch starting from Feb 12, the first day of the Spring Festival holiday. According to the “2020 China Online Film Industry Annual Report”, digital films were streamed 11.2 billion times in 2020, a year-on-year increase of 30% from 2019. Read more Pandaily
Spring Festival Pre-Sale Performance Indicates Sound Industry Recovery
As of last Saturday (Feb 6), the box office pre-sale for the Spring Festival holiday in China has reached 400 million yuan (about $61.86 million). The still-rising number is raising hopes for Chinese exhibitors around the country as the Spring Festival holiday is usually the busiest movie-going week of each year for theaters to make money. Although recent flare-ups of COVID-19 have led to tightened safety measure in several cities, many industry professionals believed that the whole Spring Festival holiday season would be able to greatly boost the overall film industry recovery. Read more Global Times
