Covid-19 Costs Leading Movie Ticket Agent $28 Million in Refunds

Caixin Global | Mar 26, 2020 at 7:51 PM
  • Leading online movie ticketing agent Maoyan Entertainment had to refund a hefty 200 million yuan ($28 million) in the final days of January as most of the nation’s cinemas shut down in a matter of days at the height of the coronavirus outbreak.
  • A few have begun to recently reopen, but revenues are still at a tiny fraction of pre-outbreak levels.
  • CICC predicted that if business returns to more normal levels by the second part of May, China’s total box office would drop about 28% this year to 46.2 billion yuan.