admin The Chinese New Year Holiday has been the biggest season for the movie distributors for years now. People usually go to theatres to enjoy movies in their leisure time during the much-anticipated weekend.
This year, the lunar holiday came on 25th January and was heavily affected by the coronavirus breakdown. The virus has heavily affected the other sectors and industries as well. But, arguably, the biggest toll was taken by the Entertainment Industry.
Detective Chinatown 3 was one amongst the films to experience delays. It is the latest part of the comedy franchise which is very popular. Another film to experience delay was Leap, a movie on China’s National Volleyball Team.
Chinese movie regulations say that a movie cannot be released outside china without its domestic release which has delayed the international releases of the movies.
The risk of virus spreading is also affecting the share prices of the Production houses.
“Lost in Russia” made a statement explaining that its release date is going to be advanced as there was a risk of coronavirus spreading in the cinemas because of masses.
The producer of “Detective Chinatown 3”, Wanda Film Holding Co., observed a drop of 21% in the 4-day trading week with its shares declining by 7% alone on Thursday.
Alibaba Pictures which is the part of the distribution of ‘Leap’ and ‘Detective Chinatown 3’ saw a fall of 13% this week.
Last year China’s film box office amassed 64.2 billion yuan ($9.30 billion), according to the country’s film administration, which made it the second-largest market for moviemakers just behind the United States.
Magazine 
