Illustration: Liu Xiangya/GT

Following the lucrative film period that was China's National Day holidays, Hollywood is gearing up to rekindle the Chinese box office with a major mix of re-releases and premieres, including the re-release of all eight Harry Potter films, the highly anticipated Joker: Folie à Deux, Venom: The Last Dance, and Red One. 

Film insiders told the Global Times that the introduction of Hollywood films could help reinvigorate the Chinese mainland market, with many noting that Venom: The Last Dance, in particular, has the potential to win big. 

Currently, these films have triggered heated discussion among Chinese moviegoers on social media, including die-hard Hogwarts fans who are amazed that the Harry Potter films are set to be released each Friday in Chinese theaters nationwide for eight consecutive weeks.

The first installment, Harry Potter and the Sorcerer's Stone, released on Friday. The re-release has earned 45 million yuan ($6.3 million) as of Sunday afternoon, according to Chinese ticketing platform Maoyan. 

This brings the film's total box office in the Chinese mainland to 292 million yuan.

The re-release of the Harry Potter series is more than just a commercial move; it's a tribute to a classic that has captivated generations. 

By bringing the magic of Hogwarts back to the big screen, these films offer a nostalgic journey for old fans and an enchanting introduction for new generations. 

The series' re-release has already shown a promising box-office sign so far, demonstrating the enduring charm of the franchise. This move might somewhat help invigorate the Chinese film market.

As for upcoming Hollywood blockbusters, Venom: The Last Dance has garnered the most anticipation on ticketing platforms like Maoyan and Beacon, with about 850,000 people expressing interest in the film, followed by Joker: Folie à Deux.

Joker: Folie à Deux, a crime musical drama starring Joaquin Phoenix and Lady Gaga, will be released on Wednesday. 

The sequel did not win a big opening after premiering in North America. After its official release on October 4, Joker: Folie à Deux only achieved a box office of $40 million in North America, which is far behind initial projections of $50 million to $65 million. 

Variety called it "disastrous for Warner Bros considering the blockbuster success of the original."

The 2019 Joker garnered 11 Oscar nominations - two of which it converted to wins for Best Actor (Joaquin Phoenix) and Best Original Score. 

The movie grossed $1.07 billion worldwide, and became the first R-rated title ever to cross the $1 billion benchmark.

According to financial insiders, the film's box office "needs to reach at least $450 million to break even," Variety reported.

Currently, Joker: Folie à Deux has a Rotten Tomatoes freshness rating of only 33 percent, a popcorn index of 32 percent, and a Metacritic score of 45. These reviews mean it will be a significant challenge for the film to earn big in the Chinese mainland.

Venom: The Last Dance, starring Tom Hardy as the super anti-hero, will be released on October 23, two days earlier than that in North America.

The distributor's choice to premiere two days earlier in China, highlights the importance of the Chinese market in the global film industry. 

The release of these new films not only brings new viewing options for audiences but may also boost Hollywood's box-office growth in China.

Shi Wenxue, a Beijing-based film critic, told the Global Times that compared to other Hollywood films released during the summer and other periods this year, Venom: The Last Dance has the best hope of achieving high box-office results. 

"If the film's quality is strong and its reputation is good, I expect it to catch up with the 1.87-billion-yuan box office of Venom, which was released in the Chinese mainland in 2018," Shi said, adding that it is almost impossible for Joker: Folie à Deux and Red One to "create such a miracle."

Lai Li, a data analyst from Maoyan, told the Global Times that Red One, as an original film, lacks a strong IP foundation and has relatively limited recognition among domestic audiences. 

However, the cast members are quite well-known. Whether it can achieve a better-than-expected performance will depend on subsequent reviews.

According to reports, the action fantasy comedy starring Dwayne Johnson and "Captain America" Chris Evans will release a week earlier in the Chinese mainland than in North America, where it releases on November 15.

There is no doubt that the rise of China's domestic film industry and the diversification of audience tastes have intensified competition for Hollywood in the Chinese market. 

Moreover, Chinese audiences have grown weary of Hollywood's formulaic storytelling and are increasingly drawn to local films that offer relatable, innovative, and emotionally resonant narratives. 

For Hollywood to regain its footing in China, it should adjust its mindset and strategy to meet the challenges of this competitive landscape.

The author is a reporter with the Global Times. life@globaltimes.com.cn