Hong Kong Box Office Stumbles at Lunar New Year

After a successful return as a physical event last year, Hong Kong International Film & TV Market (Filmart, March 11-14) is taking place again this year against a complicated backdrop, both in terms of market realities and the shifting geopolitics of the region. 

Patrick Frater Asia Bureau Chief Taiwanese-produced crime action film “The Pig, the Snake and the Pigeon” opened on top of the mainland China box office over the weekend, ahead of a quartet of holdover titles from Lunar New Year. Sony’s ‘Madame Web’ and a rereleased “Dune” also opened, but they failed to penetrate the top five. “The Pig, the Snake and the Pigeon” earned $16.2 million (RMB115 million), according to data from consultancy firm Artisan Gateway.

Julio Torres’s directorial debut Problemista from A24 posted the highest per-screen average of the weekend with a solid limited opening, grossing $140.9k on five screens in New York and LA with multiple sold out Q&As.

This year’s Hong Kong International Film Festival will feature a masterclass and career retrospective of UK-Irish writer and director Martin McDonagh.

Patrick Frater Asia Bureau Chief Superstar Japanese auteur Hamaguchi Ryusuke will unveil “Gift,” a companion piece to his recent “Evil Does Not Exist” as a one-off live performance at next month’s Hong Kong International Film Festival. Following the success of his breakout “Drive My Car,” which won the Oscar for best international feature film, Hamaguchi initially made “Gift” as a silent film project to accompany the live performance of Ishibashi Eiko, the music composer of both “Drive” and later “Evil.” From the same project, Hamaguchi also derived “Evil Does Not Exist,” which then went on to win the Grand Jury Prize at last year’s Venice International Film Festival.

Patrick Frater Asia Bureau Chief Janet Yang, the Los Angeles-based producer and president of the Academy of Motion Pictures Arts and Sciences, has been appointed as an independent non-executive director to the board of Imax China, a subsidiary of premium large format cinema company Imax that has its own share listing on the Hong Kong Stock Exchange. The company, Wednesday, reported a return to net profits of $27.5 million for the 2023 calendar year. That compared with net profit of $10.8 million in 2022.

Patrick Frater Asia Bureau Chief France’s Canal+ Group said that it has increased its stake in multi-territory Asian streaming platform Viu to 30%. “This additional investment underlines the confidence that Canal+ has in Viu and its teams. It also highlights the determination of Canal+ to make Asia its next growth vector, through its strategic partnership with PCCW, and through an acceleration of growth at Viu, a premium streaming service present in Asia, the Middle East and South Asfrica,” the French group said in a statement.

Patrick Frater Asia Bureau Chief Hybe, the Korean entertainment group behind BTS, saw revenues and profits both grow by more than a fifth in 2023 as album sales doubled and post-COVID conditions allowed more concerts. The company Monday reported annual revenues of KRW2.17 trillion ($1.63 billion), up 23% compared with 2022. Net profits reached KRW187 million, more that three times 2022’s depressed result and exceeding 2021’s figure.

Patrick Frater Asia Bureau Chief The four strongest Chinese titles that launched over the Lunar New Year holidays continued to dominate the mainland China and global office charts for a third successive weekend, albeit with a change of order that put Zhang Yimou’s “Article 20” in top spot. Global box office tracking service ComScore showed “Article 20,” “Pegasus 2,” “YOLO” and “Boonie Bears: Time Twist” as ranking first, second, fifth and sixth, respectively, in the world over the latest weekend. Within mainland China, the quartet’s numbers were sufficiently solid that the year-to-date aggregate is now closely comparable to 2023’s.

Patrick Frater Asia Bureau Chief Occult drama-thriller “Exhuma,” dominated the South Korea box office in its opening weekend with a scarily good debut approaching $17 million. The film, about two shaman, a feng shui master and a mortician who attempt to undo the mysterious events happening to a U.S.-based Korean family, grabbed $14.5 million between Friday and Sunday, representing a 77% share of the overall box office market. Including the earnings since its Wednesday debut, the film earned $16.8 million in its full opening session, according to data from Kobis, the tracking service operated by the Korean Film Council (Kofic).

Ernst Lubitsch, Stanley Kubrick and Roman Polanski are among eight older titles set to play at next month’s Hong Kong International Film Festival. Lubitsch’s 1920 farce “Kohlhiesel’s Daughters,” will be presented with a live music accompaniment by the Hong Kong New Music Ensemble. And, despite rumors to the contrary, Kubrick’s first feature, “Fear and Desire,” has been preserved intact and will play at the festival with nine minutes of previously deleted footage.

Warner Bros has dated Mickey 17 for Jan. 31, 2025 — a very odd date for a highly anticipated follow-up from Oscar and Cannes Palme d’Or winning Parasite filmmaker Bong Joon-ho.

Patrick Frater Asia Bureau Chief Four Chinese films dominated the mainland China and global box office charts over the latest weekend. “YOLO,” a comedy drama about weight loss and self-discovery, was crowned as the top earning film worldwide for a second weekend running. “YOLO” took $86.5 million (RMB614 million) between Friday and Sunday, giving it a 9-day cumulative total of $402 million (RMB2.85 million), according to data from consultancy firm Artisan Gateway. The second film by Jia Ling, who previously directed 2021 Lunar New Year smash hit “Hi, Mom”, “YOLO” released on Saturday, Feb.

Patrick Frater Asia Bureau Chief Production firm Movierock and rights sales outfit Hive Filmworks are in advanced production on “Hear Me: Our Summer,” a Korean remake of hit 2009 romance film “Hear Me” from Taiwan. The story involves a motorbike delivery man who falls in love with a hearing-impaired younger woman. Comparing themselves with water birds and trees the pair slowly try to break through the barriers in their relationship, pursue their dreams and take things to the next level. The retread stars Hong Kyung, who has a recent string of appearances including Netflix’s “D.P,” “TV’s Revenant” and “Hero,” and the upcoming “Troll Factory.” Co-star Roh Yoon-seo has credits in “Crash Course in Romance” and “Our Blues” and is currently one of the most ubiquitous faces in Korea thanks to her position as the face of the Paris Baguette bakery and café chain. Stylistically, the adaptation aims for the feel of Iwai Shunji’s pan-Asian hit “Love Letter,” and is directed by Jo Seon-ho, who previously made “A Day.” Movierock previously produced a 2018 Korean remake of 2004 Japanese hit “Be With You.” The film is already being pre-sold to multiple territories in Asia.

Michaela Zee Paramount’s “Mean Girls” musical made fetch happen after surpassing $100 million at the global box office. The oh-so pink movie musical has generated $101.2 million worldwide after six weeks of release, including $71.2 million in North America and $30 million from 31 international territories. Based on the Broadway adaptation of the 2004 comedy classic, “Mean Girls” was originally commissioned with plans to make a streaming debut directly on Paramount+, but executives opted for a theatrical release after enthusiastic test screenings.

Patrick Frater Asia Bureau Chief The Hong Kong-Europe-Asian Film Collaboration Funding Scheme being launched this week in Berlin is intended as a major component of an exercise in rehabilitating and internationalizing the Hong Kong film industry. In unprecedented fashion, the territory’s Film Development Council is getting ready to start giving cash grants to movie projects that don’t necessarily have to shoot in the city or even use one of its three official languages.

Patrick Frater Asia Bureau Chief In January, when Netflix unveiled its slate of Chinese-language original productions for 2024, all of them turned out to be Taiwanese. Not Chinese. And not from Hong Kong, a territory that once produced over 300 movies a year in multiple Chinese dialects.

Patrick Frater Asia Bureau Chief Asia Argento (“xXx,” “Land of the Dead”) and Melvil Poupaud (“Speed Racer,” “Laurence Anyways”) will star in French crime thriller “Stronger Than the Devil.” The project will be pitched for the first time at the European Film Market, attached to the Berlin Film Festival, by All Rights Entertainment, the Hong Kong, Paris and Los Angeles-based film sales agency which has picked up the rights. The picture, which heads into production later this month, is written and directed by Graham Guit (“Les Kidnappeurs,” “Hello, Goodbye”). The finished film is expected to be completed by the autumn.

Paramount’s Bob Marley: One Love had offshore audiences getting together and feeling more than alright in Wednesday international box office play. Beginning overseas release yesterday, the Reinaldo Marcus Green-directed biopic grossed $4.9M across 10 markets, several of them giving the story of the reggae icon No. 1 status and the biggest or second-biggest launch day ever for a music biopic — in Jamaica, it scored the biggest opening day of all time. 

Leo Barraclough International Features Editor Beta Cinema has sold political thriller “Hammarskjöld — Fight for Peace,” which is a box office hit in its home territory Sweden, to multiple key territories. Sales include Italy (Rai Cinema), France (Swift Prods.), Spain (Twelve Oaks), Portugal (Outsider Films) and former Yugoslavia (Discovery). A U.S.