Asia-Pacific box office records YOY losses amid rise in COVID-19 cases

Asia-Pacific's box office saw a 36.2% year-over-year decline in cumulative gross box office revenue in the first three months of 2022 at about $2.16 billion, figures from OpusData compiled by S&P Global Market Intelligence show.

South Korea emerged as the only tracked market to grow its film earnings, by 15.1% year over year, generating $85.8 million for the period under review while the Asia-Pacific region continued to book year-over-year revenue losses. The country's gains came at the same time over 620,000 COVID-19 cases were being reported daily in mid-March, according to a Reuters report.

"The Batman," distributed by Warner Bros. Pictures Inc., was the only fresh film released among South Korea's top three titles during the monitored period. The film secured $7.4 million in earnings. "Harry Potter and the Order of the Phoenix," a re-release, also distributed by Warner Bros. Pictures, occupied the top spot with $19.5 million; it was followed by Lotte Entertainment-distributed January release "Haejeok doggaebi gitbal" in second place.

Although China recorded the highest film earnings among tracked Asia-Pacific markets at $1.88 billion, the country's box office revenue was down 34.5% year over year.

Local productions continued to dominate Chinese movie theaters, with Bona Film Group Ltd. and Emperor Motion Pictures-distributed "Chang Jin Hu Zhi Shui Men Qiao," a sequel to China's highest-grossing title in 2021, "Chang Jin Hu," earning $634.7 million.

The number of COVID-19 cases in China also started surging rapidly in March, turning into one of the "worst flare-ups the country has seen" since early 2020, according to a CNN report. The government imposed several lockdowns across the country to curb the spread of the coronavirus.

Japan, meanwhile, reported the lowest cumulative gross box office revenue in the first quarter of 2022 at $53.8 million, a year-over-year dip of 73.5%.

Hollywood superhero flicks featured significantly at the Japanese box office, including "Spiderman: No Way Home," co-produced by Columbia Pictures Industries Inc. and Marvel Studios LLC and distributed by Sony Pictures Releasing Inc., which collected $22 million, and "The Batman."

The romantic musical drama film "West Side Story," distributed by 20th Century Studios Inc., snatched the second spot in terms of film revenue in Japan.

Action and adventure was the top genre by aggregate gross box office revenue year-to-date in the Asia-Pacific region.