The recovery of the global theatrical market evolves! As the final numbers from the April 1 play-week arrived, four more territories hit high stages on Gower Street’s Blueprint To Recovery for the first time. All four from the Asia-Pacific region. The combination of a lucrative period, multiple attractive movies and the readiness for recovery were the key to these performances in all of the four markets.
After China, Japan and Russia, Taiwan became just the fourth global market tracked by Comscore to achieve Stage 5 of Gower Street’s Blueprint To Recovery, the final level. It requires a box office week equivalent to a week in the top quartile of 2018-2019 performers. For Taiwan this is a week grossing at least TWD208 million. The April 2 play-week crossed this target with a 7-day result of TWD225 million ($7.9m) by 8%, according to our partners at Comscore Movies. Business was up 26% week-on-week.
The result in Taiwan was supported on one side by a four-day weekend, combining Children’s Day and Qingming Festival public holidays, and the performance of two major titles. GODZILLA VS KONG (-30%) in its second week at #1 and the Taiwanese remake of Korea’s MAN IN LOVE opening at #2. The two had a combined market share of 85%.
The Stage 4 marker was crossed for the first time by Hong Kong, Australia and New Zealand. Except for the four Stage 5 reaching countries, just Singapore and Argentina achieved this level previously. The Stage 4 target is a weekly box office equivalent to a median box office week of the last two pre-pandemic years (2018-2019).
For Hong Kong this is a week grossing at least HKD34.3 million. The April 1 play-week crossed this target with a 7-day result of HKD42.3 million ($5.4m) by 23%. This total put Hong Kong just shy of also hitting Stage 5 (92%). Business was up 67% week-on-week.
Hong Kong had a five-day weekend. A combination of Easter and Qingming Festival public holidays and school holidays stretching the market capacity. The holdover #1 GVK (-17%) and a massive opening for Japanese anime STAND BY ME DORAEMON 2 attracted the audience and achieved a 60% market share.
In Australia the Stage 4 marker is at AUD21.5 million. The April 1 play-week crossed this target with a 7-day result of AUD23.7 million ($17.8m) by 10%. Business was up 42% week-on-week. A host of new titles, led by TOM & JERRY at #3, arrived with school holidays and the four-day Easter weekend. Meanwhile, GVK (-12%) and PETER RABBIT 2 (+86%) held firm at #1 and #2. The Top 3 title had a 70% market share.
The third country hitting the Stage 4 marker for the first time was New Zealand. It needed NZD3.8 million to achieve this and exactly accounted NZD3.8 million in the April 1 play-week. Business was up 36% week-on-week. It is their highest weekly result since mid-January 2020. Compared to Australia, New Zealand reached that milestone without TOM & JERRY opening and one day less of school holidays. GVK (-26%) was at #1 in its 2nd week, ahead of PETER RABBIT 2, which led four new openers in the Top 5. The duo topping the charts were responsible for 60% of the weeks Stage 4 result.
As well as these markets that achieved certain stages for the first time, China performed above Stage 4 again, also reaching 88% of Stage 5. Argentina was just shy of repeating its Stage 4 week result of the prior week (97%) of that target. Finally, in North America, Mississippi became the fourth US state to hit the Stage 3 marker and the first to do so since December 2020. South Dakota, Utah and Wyoming, are the only other US states that have reached that milestone.
Growth Trackers for 30 global markets, covering all regions, as well as all 50 US states and 12 Canadian provinces are featured every week in Gower Street’s Road To Recovery reports.
