Xinhua Headlines: Chinese blockbuster "Ne Zha 2" brings boons beyond theaters

BEIJING, Feb. 17 (Xinhua) -- Having broken the Hollywood monopoly in the global list of 10 highest-grossing films, the animated feature "Ne Zha 2" is generating ripple effects beyond cinemas, showcasing China's vibrant consumption and dynamic economy.

Less than three weeks since its premiere, the global earnings, including presales, of "Ne Zha 2" have exceeded 12.05 billion yuan (about 1.68 billion U.S. dollars).

Drawing inspiration from a Ming Dynasty (1368-1644) mythological tale, much like the globally acclaimed 3A video game "Black Myth: Wukong," "Ne Zha 2" reimagines the story of Nezha, a legendary boy with extraordinary powers, for today's audience. He is also a character in the classic novel "Journey to the West," which features the Monkey King, or Sun Wukong.

The film's success extends to catering, retail, tourism, and capital markets.

Inspired by the film, a restaurant in north China's Tianjin Municipality has creatively incorporated the film's characters and cuisines into its menu, with dishes like "stir-fried squid tentacles" recalling a humorous scene from the movie.

Traditional specialties, such as lotus root powder -- used in the film to remake Ne Zha's flesh -- have seen a resurgence in popularity.

Additionally, a Ne Zha-themed hot pot restaurant in Yibin, Sichuan Province, has become a popular spot for photos due to its interior design inspired by the film's elements, like the Red Armillary Sash.

CRAZE FOR IP DERIVATIVES

The craze for IP derivatives is evident, with Ne Zha-themed merchandise selling out rapidly. In Shanghai, movie theater operators reported that popcorn tubs and drink packages featuring Ne Zha sold out within days of the film's release. In Beijing, action figures of Ne Zha are in high demand, with shipments scheduled as far out as July.

"I really like Ao Bing (a dragon prince and friend of Ne Zha in the film). I ordered six blind boxes from Pop Mart as soon as the products were released, hoping to get a toy of Ao Bing," said Dekyi Yangzom, a movie enthusiast from southwest China's Xizang Autonomous Region, who was deeply impressed by the story and visual effects of the film.

Online sales of "Ne Zha 2" merchandise have surged, with sales reportedly exceeding 50 million yuan on Taobao, a leading e-commerce platform in China.

Zhang Zizhong, an assistant professor at Zhejiang University, highlighted the evolving revenue models in China's film industry.

"In the past, films mainly relied on box office to generate revenues. However, today, IP derivatives have become a significant source of profits," said Zhang, adding that the audiences are willing to pay for content beyond the movie itself.

A BOOST FOR LOCAL TOURISM

The film's use of various Chinese dialects has entertained audiences and highlighted the unique charm of local cultures, boosting cultural tourism in regions like Tianjin and Sichuan.

Locations like Chentangzhuang in Tianjin, linked by some people to Chentang Pass in the film, are seeing increased visitors. Capitalizing on the opportunity, Tianjin's cultural and tourism sector has introduced several Ne Zha-themed experiential routes, resulting in a nearly 30 percent surge in visitor traffic.

In the Cuiping district of Yibin, known for ancient temples honoring Nezha, newly launched attractions and themed events have drawn crowds, leading to a 34 percent increase in hotel booking.

In Xixia County, Henan Province, the Nezha Temple attracts global visitors annually. Following the movie's release, the local cultural and tourism department reported a year-on-year rise in visitor numbers at the county's major scenic spots, accompanied by a 13.2 percent increase in overall revenue.

STOCK PRICE RISE

As "Ne Zha 2" continues to dominate the box office, the stock prices of the companies involved in its production, including Beijing Enlight Media Co., Ltd., the main producer, have seen a significant uptick.

Within seven trading days after the Spring Festival holiday, Enlight Media's stock price hit the upper limit five times, with its market value soaring from approximately 28 billion yuan on Jan. 27 to 101.9 billion yuan on Feb. 14.

Wang Changtian, the company's chairman, said that such performance is a direct market response to the box office success of "Ne Zha 2."

Zhu Yuqing, vice chairman of the industry review committee of the China Film Critics Association, said that amidst the global sensation of "Ne Zha 2," investors previously skeptical about the Chinese film market have shifted their stance and are now paying attention to Chinese animated films.

"The investment rationale for animated films extends beyond box office revenue; their industrial chain is extensive. Derivative products, real-world scenery development, souvenirs, and games can all generate a long-tail effect," Zhu explained, adding that the capital market is generally optimistic about animated films this year, which marks the 120th anniversary of Chinese cinema and the 130th anniversary of world cinema.

"The strong start of 'Ne Zha 2' is just the beginning. The vast potential for consumption in China's film market, the broad development space for the film industry, and the growing enthusiasm for domestic blockbusters will drive Chinese filmmakers to create more outstanding domestic animations that will shine on the global stage," said Zhao Xinli, dean of the Advertising School at the Communication University of China.  ■