2024 was a year of mixed feelings for Hong Kong’s film industry. On the one hand, a Hong Kong film broke records for both revenue and admissions. On the other, more than 10% of cinemas shut down due to poor performances, with box office takings falling back to 2011 levels.
The number of films shown in Hong Kong in 2024 was 291 – a slight increase from 260 in 2023. Despite a 4.09% increase in admissions, from 18.31 million in 2023 to 19.06 million in 2024, the total box office gross decreased by 6.26%, from HK$1.433 billion in 2023 to HK$1.343 billion in 2024.
In fact, the box office gross was even lower than in 2011, which resulted in the closure of nine cinemas, leaving only 56 cinemas remaining at the end of the year (tough one cinema re-opened later, under a new operator). As for Hong Kong films, 46 were shown in 2024, compared to nearly 50 in 2023.
The total gross for Hong Kong films reached an encouraging HK$600 million, a sharp 61.7% increase from HK$371 million in 2023. This also increased the market share of Hong Kong films from 25.9% in 2023 to 41.9% in 2024. With Hollywood films’ disappointing performance in Hong Kong, the Hong Kong box office gross in 2024 was even 5% higher than that of Hollywood films.
The strong performance of Hong Kong cinema was demonstrated with 15 films grossing over HK$10m, including 10 films which grossed over HK$20m. On the other hand, over half of the Hong Kong releases grossed less than HK$1m. It is remarkable that two Hong Kong films grossed over HK$100m, each having a very different style. Soi Cheang’s Twilight of the Warriors: Walled In is a fusion of action cinema set in 1980’s Walled City of Kowloon, packed with a star-studded cast. While the initial box office surge came from the presence of established stars like Sammo Hung and Louis Koo, audiences also appreciated breakthrough performances from other cast members such as Raymond Lam and Philip Ng. This resulted in a theatrical run of more than six months, which is a real rarity in Hong Kong.
The bigger surprise came at the end of the year with Anselm Chan’s The Last Dance. Featuring two well-known Hong Kong comedians, Dayo Wong and Michael Hui, the film showcased the unique style of funerals in Hong Kong, with additional performances from Michelle Wai and Chu Pak-hong depicting family conflicts. The film provided an escape for the local audience during the current difficult economic times and challenging social atmosphere. It easily broke various box office and admission records for Hong Kong films, with a performance comparable to Disney’s Marvel films.
First-time directors continued to offer box office surprises in Hong Kong cinema. Berry Ho’s directorial debut, We 12, featuring all 12 members of the local boy group Mirror, was released around Easter and grossed HK$22.31 million. While the film attracted fans of Mirror, the general response was negative, as it resembled a variety show more than a feature film.
In contrast, Ho Miu-kei’s debut Love Lies, starring veteran actress Sandra Ng and emerging star MC Cheung in a story about online love scams, proved to be a hit by grossing HK$18.06 million. Other surprises included Jill Leung’s music-themed love story Last Song for You and Albert and Herbert Leung’s industry-focused film Stuntman, which grossed over HK$10 million and HK$9 million respectively.
While Hong Kong cinema has shown a weakness in summer for years, the situation worsened in 2024. With Herman Yau’s Customs Frontline (FEFF26) as the sole film released during the main summer vacation period, featuring an action-packed crisis with Jacky Cheung and Nicholas Tse, it ended up grossing only HK$12.71 million, far below its production costs. Even more ironic, Yau’s Hollywood adaptation Crisis Negotiators grossed HK$20.44 million with a relatively lower production budget. The unrealistic portrayal of Hong Kong customs officers as SDU drew criticism and contributed to the film’s box office flop.
Relatively speaking, audiences seemed to show greater appreciation for films tackling different topics when released outside the traditional peak season. In addition to The Last Dance, other examples include Anthony Pun’s Cesium Fallout – a nuclear pollution disaster movie packed with large-scale firefighting scenes, released in early November and Philip Yung’s Papa, an adaptation of a murder case in which a son killed his mother and young sister, released in early December.
Japanese films continued to cement their importance in the Hong Kong cinema market, holding the third-largest market share. Despite a decline in revenue from HK$149.7 million in 2023 to HK$118.0 million in 2024, the market share dropped from 10.5% to 8.8%, which is still higher than in 2022. A total of 58 Japanese films were released in 2024, the same number as in 2023. Animated films continued to perform strongly, as all four Japanese films that grossed over HK$10 million were animations: Spy x Family Code: White (HK$18.27m), Doraemon the Movie: Nobita’s Earth Symphony (HK$14.55m), Haikyu!!: The Dumpster Battle (HK$14.07m), and Mobile Suit Gundam SEED Freedom (HK$11.74m).
Korean cinema showed its growing influence in the Hong Kong market in 2024. The number of Korean films released increased by approximately 50%, from 12 in 2023 to 18 in 2024, while total box office revenue surged by 120%, rising from HK$13.2 million in 2023 to HK$29.0 million in 2024. The market share also grew from 0.92% to 2.16%, returning to the 2.2% level seen in 2022. Jang Jae-hyun’s Exhuma, distributed by Edko, led Korean films with a box office gross of HK$9 million. While Thai films remained quiet in 2023, last year saw a surprise hit with How to Make Millions Before Grandma Dies, which grossed over HK$6.63 million. The film’s continued positive reception among audiences resulted in an extended theatrical run of nearly five months.
The number of mainland Chinese films released in Hong Kong continued to rise in 2024, with a total of 41 films compared to 30 in 2023. However, only four of them grossed over HK$1 million, and most received very minimal promotion. The highest-grossing mainland Chinese film of the year was Jia Ling’s YOLO, which only earned HK$5.14 million in Hong Kong – a stark contrast to its 3.46 billion RMB box office in mainland China.
In total, mainland Chinese films grossed HK$20.73 million, accounting for 1.54% of the market share. For Taiwanese films, the number of releases remained at 17 in 2024, but none managed to surpass HK$2.5 million in box office revenue. While Greg Hsu’s films exceeded HK$10 million in 2023, his new film Dead Talent Society in 2024 only grossed HK$2.34 million, leading to a decline in the market share of Taiwanese films to just 0.8%.
The beginning of 2025 highlighted the ongoing crisis in Hong Kong cinema, with a particularly weak performance during the Lunar New Year holiday in late January. The three-day public holiday saw approximately 296,000 admissions, generating a total box office gross of HK$21.8 million – comparable to figures from 2009. Compared to 2024, admissions dropped by 27.7%, while box office revenue declined by 32.5%. With a limited number of new productions in the past year, optimism for the industry and cinemas in Hong Kong remains low in the coming months.
Top 10 Box Office Hong Kong
Films in 2024
1. The Last Dance, HK$148.95m* 2. Twilight of the Warriors: Walled In,
HK$108.44m
3. Cesium Fallout, HK$41.82m*
4. Table for Six 2, HK$37.36m
5. The Moon Thieves, HK$27.55m
6. The Prosecutor, HK$27.03m*
7. We 12, HK$22.31m
8. Papa, HK$22.14m
9. Rob N Roll, HK$21.22m
10. Crisis Negotiators, HK$20.44m
*Box office up to 4 Feb 2025
Ryan Law