0753 GMT - China's labor day holiday box office spending dropped 51% on-year to CNY747 million, largely due to a lack of major blockbusters, Citi analysts say, adding that the average ticket price fell 1% to CNY39.5. That said, the soft Labor Day holiday was likely a non-event to the movie sector as it reflected a continuing soft trend after Chinese New Year, the analysts say. Maoyan Entertainment and Alibaba Pictures were behind two of the top three movies in the holiday box office, the analysts note. More movies are expected to confirm their release dates for this summer, serving as major catalysts for the movie sector, Citi says.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 06, 2025 03:53 ET (07:53 GMT)
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