Maoyan: China's Online Entertainment Market Booming with the COVID-19 Pandemic
Bilibili Inc. - American Depositary Shares (BILI)
Last bilibili inc. - american depositary shares earnings: 3/17 07:00 pm
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Source: PR Newswire
BEIJING, April 9, 2020 /PRNewswire/ -- Maoyan Entertainment ("Maoyan" or "the Company") (Hong Kong: 1896), a leading platform providing innovative Internet-empowered entertainment services in China, released a report on the impact of the COVID-19 pandemic on China's entertainment industry. While China's movie industry was severely hit by the pandemic, the online entertainment market, including TV and streaming platforms, were booming as people were confined to their homes, according to the report.As of March 15, the China theatrical releases of 44 movies had been canceled or postponed, including 16 imported movies, according to the report that examines the pandemic's impact on China's entertainment industry. Maoyan Zhiduoxing, an entertainment data analysis platform, released the report.The Chinese New Year holiday is traditionally the most important movie season for China's box office revenues. In 2019, the Chinese New Year holiday contributed 14% of the total annual box office. With
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