The global box office rankings for the five major Hollywood studios in 2025 have been finalized based on the latest data, with The Walt Disney Company leading significantly with a global box office of $6.58 billion. It was the only studio to surpass the $6 billion annual mark, achieving its highest annual box office since 2019. Data from ticketing platforms shows that as of midnight on the 7th, the national box office for 2026 has already exceeded 900 million yuan. In the 2025 film market, animated films emerged as one of the most notable highlights, with 57 films contributing over 25 billion yuan in box office revenue. Industry insiders indicated that 2025 was a year of explosive growth for animated films, contributing nearly "half of the total box office" and driving the full-year total cinema attendance in 2025 to a 10-year high. Experts told reporters that beyond domestic box office sales, animated films can generate revenue from international distribution, merchandise sales, and brand licensing fees, with the potential for future theme park development, resulting in a longer industrial chain and closer ties to high-value-added service industries. According to a CITIC Securities research report, a review of 2025 revealed three major industry trends: outstanding performance of animated film franchises. Four of the top ten highest-grossing films in 2025 were animations, with two setting new records. Expanding derivative businesses has become a trend, aiming to maximize the commercial value of IP through a "short-term box office + long-term derivatives" model. There was ample supply of imported films, which became a significant source of content for the summer and year-end holiday periods. Looking ahead to the 2026 Spring Festival season, two high-grossing IP sequels, "Pegasus 3" and "Boonie Bears 12," have already been scheduled for release. Other major players like DAMAI ENT, MAOYAN ENT, Wanda Film, and China Film Group also have heavyweight titles awaiting scheduling. With strong casts and a history of successful box office performance for similar films, the outlook for the 2026 Spring Festival season remains positive. For the full year of 2026, continued strong performance is expected for imported films. Sequels to major IPs such as "The Avengers," "Spider-Man," "Toy Story," and "Minions" are all potential releases in the domestic market. Following the smooth introduction of imported films in 2025 and the rich pipeline of Hollywood movies for 2026, the domestic box office performance for imported films this year is viewed favorably. Hong Kong-listed stocks related to the film industry chain include MAOYAN ENT (01896), DAMAI ENT (01060), and IMAX CHINA (01970).
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