It is early within the 12 months, however there’s already a brand new champion on the world field workplace for 2026, and it is, frankly, not even shut. What’s extra, the crown is at present being worn by a sequel that the overwhelming majority of individuals exterior of China in all probability have not even heard of.
The Chinese language rally racing motion flick “Pegasus 3” made an enormous $369.3 million from February 17 to 22, which is the profitable Lunar New 12 months vacation body in China (per Selection). Recall that China additionally gave us the largest field workplace hit of 2025 with the animated “Ne Zha 2,” a movie that made $2.25 billion worldwide. However whereas “Pegasus 3” is not prone to attain such excessive heights, it is on tempo to change into one other $1 billion film and the newest instance of China crafting homegrown hits greater than nearly something Hollywood is churning out today.
Living proof: The Lunar New 12 months moreover noticed the thriller “Scare Out” do greater than $110 million of enterprise on the field workplace, whereas “Blades of the Guardians” introduced in simply shy of $100 million. Plus, the animated “Boonie Bears: The Hidden Protector” was barely behind these with a take of almost $90 million. All advised, it was a rewarding vacation body for films made particularly for Chinese language audiences and in the end grossed $647.4 million in whole.
In the meantime, “Wuthering Heights” has change into Hollywood’s highest-grossing hit of 2026 thus far, having pulled in $152 million and counting up to now, adopted by the animated “GOAT” ($102 million). That is to not say China is assured to win the worldwide field workplace crown once more this 12 months, however it does supply some eye-opening perspective.
Pegasus 3 is simply the newest large Chinese language blockbuster
The actual fact of the matter is what is going on on in China represents one of many greatest adjustments to the worldwide field workplace within the pandemic period. The home field workplace was a giant disappointment in 2025, failing to crack $9 billion general. Pre-pandemic, these numbers had been frequently and simply above $10 million, and that does not even account for inflation.
Hollywood studios used to rely closely on Chinese language audiences to spice up grosses for its films. However Hollywood can not depend on China on the field workplace, and a giant cause for that’s as a result of the nation is more and more favoring homegrown hits equivalent to “Pegasus 3.” And this film’s success should not come as a shock: “Pegasus” made $255 million in 2019 and “Pegasus 2” made $423 million in 2024. These films simply do not get talked about a lot in North America.
What’s fascinating is that these large Chinese language hits have not actually crossed over into the U.S. but. American audiences did not care about “Ne Zha 2” final 12 months, so these success tales do not do a lot to bolster home ticket gross sales. All the identical, China has been build up a gentle stream of hits relationship again to the mid-2010s, with films like “Wolf Warrior 2” ($870 million) and “The Wandering Earth” ($700 million) having quietly served because the precursors to what was to come back.
On the one hand, China having a wholesome theatrical market goes a good distance in bolstering the worldwide field workplace in these unsure occasions. Then again, it solely means a lot if these hits do not journey all over the world. What’s crystal clear, nevertheless, is that China itself is at present being served remarkably properly by its strategy.
