Shortly after establishing a new benchmark as the highest-grossing movie in a single global market, the Chinese blockbuster "Ne Zha 2" has etched its name in cinematic history by becoming the first film ever to surpass the $1 billion mark in a solitary territory. As previously noted (see below), the writing was indeed inscribed upon the Great Wall itself, foretelling that "Ne Zha 2" would achieve this milestone in China. According to Maoyan, as of 11:30 AM Beijing time on Sunday, the film's cumulative gross stood at RMB 7.58 billion ($1.04 billion).
Among its numerous achievements, "Ne Zha 2" has also made waves as the first non-Hollywood film to join the billion-dollar club and has swiftly ascended the ranks to crack the all-time Top 10 list of animated films worldwide. Furthermore, it holds the distinction of being the 13th film to surpass the $1 billion mark outside of North America. Maoyan projects that the film, which is set to release outside of China this coming week, will ultimately conclude its domestic run with a staggering RMB 10.8 billion ($1.48 billion).
Earlier, at 1:35 AM PT, with today's business included, the Chinese behemoth "Ne Zha 2" had already topped RMB 7 billion ($960.5 million) in China, comfortably setting a new record for the highest gross ever by a film in a single market worldwide. In reaching this milestone, the animated sequel eclipsed "Star Wars: Episode VII – The Force Awakens" (2015), which had long held the title for the highest gross in a single market with $936.7 million from North America.
Since its release during the bustling Lunar New Year period in China (January 28-February 4), "Ne Zha 2" has been on an unstoppable tear. It set a new record for the highest single-film box office during the holiday in the market's history and, just last Thursday, surpassed "The Battle at Lake Changjin" to become the biggest film ever in China. The next record poised to fall is when "Ne Zha 2" crosses the $1 billion mark in China, making it the only film to achieve such a feat in a single market. Maoyan has been increasing its projections throughout the week and now forecasts an astonishing RMB 10.8 billion ($1.48 billion) finish in China. As of 5 PM local time today, a working day in the market, the film had already amassed RMB 7.06 billion/$968.8 million.
Directed by Yang Yu, also known as Jiaozi, "Ne Zha 2," slated for a North American release through CMC on February 14th, draws loosely from a timeless Chinese myth and follows the aftermath of its 2019 predecessor. This captivating sequel revolves around the titular boy endowed with magical powers and his companion Aobing, whose souls have been spared but whose physical bodies are on the brink of dissolution. With the divine intervention of Taiyi Zhenren, the heroes embark on a perilous journey to rebuild their bodies. Along the way, they confront numerous trials, including a swarm of menacing sea monsters, as they strive to avert a catastrophe that imperils the fabric of humanity.
Amidst a 25% decline in China's box office in 2024, the dawn of 2025 brings a ray of hope, with the Spring Festival setting a staggering new benchmark for cinema revenue during the festive season. From January 28th to February 4th, mainland China's total takings surpassed RMB 9.51 billion ($1.3 billion), eclipsing the previous record of RMB 8.02 billion. A promotional initiative launched by the China Film Administration in December, offering subsidies to moviegoers until February, coupled with regional campaigns, ignited a surge in attendance that has shown no signs of waning.
The implications for Hollywood's future in China remain uncertain, as local audiences have increasingly gravitated towards homegrown productions. However, there's a glimmer of cautious optimism that the resurgence of cinema-going could extend to studio blockbusters. As we've previously observed, a clearer picture will emerge when key releases in the latter half of 2025, notably "Zootopia 2" and "Avatar: Fire & Ash," hit the screens.
