Editorial | The death of Hong Kong’s film industry has been overplayed
Two Hong Kong productions in particular show there is a role for the local industry despite 2024 having the poorest box office take in 13 years
The Hong Kong film industry experienced the best of times, or the worst of times in 2024, depending on how you read it.
In a historic first, two local productions surpassed the HK$100 million (US$12.9 million) mark at the box office in a single year. However, total annual revenue dropped 6.2 per cent from 2023 to HK$1.34 billion, the weakest performance since 2011. The curtains closed forever on at least eight cinemas last year.
They may seem like plots from totally different films, one heralding the renaissance of Eastern Hollywood while the other boding the further demise of its filmmaking.
The truth is that the industry is struggling to reinvent itself amid seismic shifts in the greater entertainment world. With streaming platforms and social media competing for eyeballs, the number of cinema-goers is inevitably on the decline.
The prevailing economic climate also makes investment and budgeting more cautious, adding to the pressure on productions. That said, city filmmakers and actors continue to gain international recognition with their presence and awards success in festivals overseas.
Despite the fluctuations, the public still flocks to the cinemas when there are good productions. Stealing the show among the three dozen odd local films last year was The Last Dance.
