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Understanding The China Movie Market
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Price Waterhouse Cooper's Report also states that the China Movie Market, in particular, has been growing at an astounding 30% each year since 2002, a pace never seen before in the entertainment industry! With $2.74 billion in box office revenue in 2013, China overtook Japan as the 2nd largest box office in the world. China continued its explosive growth to become the world's second largest box office with $5 billion in revenue in 2014.
The box office in China then grew an astonishing 48.7 percent in 2015, reaching a record $6.78 billion.
The following videos below will help to explain the huge opportunities afforded from the current state of the Entertainment Industry and help to reinforce our conviction that Trans Global Capital LLC is well positioned for financial success now and for years to come.
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China's box office certain to overtake US as takings up 50% in 2016's first quarter
Huge rises in number of screens, homegrown hits and admissions have meant China set to overtake US as biggest movie market in 2017, even as Chinese ticket prices fall and local directors bemoan quality of talent
China's box-office share to become world's largest by 2017
China is set to become the highest-grossing cinema territory in the world next year, based on the rise in its takings over the past 15 months. In the last quarter, revenues from cinemas in the mainland of China rose by 50%, in line with rises witnessed throughout 2015.
If sustained, China would make more than $10bn in 2016, closing in on the US 2015 total of $11bn. The North American box office plateaued around $10bn for eight years, before a 7.3% rise in 2015 took receipts into the teens.
The first quarter Chinese box office gross in 2015 was RMB9.663bn, rising to RMB14.49bn for the three months just ended. Last year’s total was RMB44bn ($6.78bn).
Takings have risen alongside the number of cinema screens: in 2015, 8,035 were added in China, at the rate of 22 per day, upping the total by around 40% to 31,627 screens. By the end of 2016, China is expected to have beaten the US, which has just shy of 40,000.
The 51.08% year-on-year rise in admissions in China accounts for how the territory was able to combat its comparatively low ticket price: $5.36, more than three dollars cheaper than the US’s $8.38. China’s average ticket price has actually fallen 2.5% from its 2015 figure. More than 60% of bookings taken in the country are made online.
China’s mushrooming numbers are also credited to its booming local industry, with incentives in place for cinemas which show domestic rather than Hollywood films. Chinese movies accounted for 61.48% of ticket sales in 2015, with many of the biggest hits – such as The Mermaid, The Monkey King 2 and The Man From Macau 3 – falling into this category.
China Monthly Box Office Tops U.S. for First Time Ever
The Hollywood ReporterMarch 2, 2015
By Clifford Coonan
Chinese box-office revenue edged ahead of the United States in February for the first time ever as a record Lunar New Year bonanza brought in $650 million in the second-largest movie market, according to data from research firm Entgroup. The North American box office for February came in at $710 million, but once Canada was stripped out, the figure was $640 million, making China the biggest box-office market in the world for the month, the firm said.
Related: China’s Box Office Surges 36 Percent in 2014 to $4.76 Billion
The top movie in China for the month was Chow Yun-Fat starrer The Man From Macau II, which brought in $104 million, followed by historical action movie Dragon Blade, starring Jackie Chan, John Cusack and Adrien Brody, which accumulated $95 million during the month.
In third place was the $40 million Sino-French epic Wolf Totem, directed by Jean-Jacques Annaud, which brought in $72 million.
In fourth was Zhong Kui: Snow Girl and The Dark Crystal, a $30 million, 3D, VFX fantasy action adventure co-directed by Peter Pau and Zhao Tianyu and produced by Ann An of Desen International Media, with $56 million, followed by Xu Jinglei’s romance Somewhere Only We Know with $44 million.
Running Man, an adaptation of a Korean reality TV format, made $42 million in February.
Related: China 2014 in Review: Hollywood Strikes Deals, Alibaba Goes Public
The holiday period is kept clear of foreign movies to give domestic films an even run. The biggest Hollywood movie in the month was The Hobbit: The Battle of the Five Armies, which brought in $36 million. The Hunger Games: Mockingjay — Part 1, the latest installment in Lionsgate’s YA film franchise, amassed $35.5 million in China in February.
Before February, the biggest box-office month ever in China was July last year with $580 million, thanks to Transformers: Age of Extinction's release that month. The Lunar New Year has become the peak moviegoing period in China. This year, it ran Feb. 18-24. Box office during that week alone amounted to $270 million, according to data site 58921.com.