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China to surpass US to be top film market in two years

来源:China Daily 作者: 2016-02-05 09:42:33

  A poster for the domestic movie Monster Hunt. [Photo/Mtime]

  China is witnessing average annual growth of 30% in its film market and is likely to become the world's biggest film consumer in two years, according to a new report.

  Based on a recent report by China's media watchdog, domestic box office totals were 44.06billion yuan ($ 6.7 billion) in 2015, a 48.7 percent increase compared to 2014. With 30 percent average growth, the box office in 2016 is expected to reach 60 billion yuan ($ 9.12 billion).

  Meanwhile, box office in the US totaled $10.4 billion last year, a 5 percent drop from the year before.

  "China will surpass the US to become the biggest film market in the world in two years," said Imax CEO Richard Gelfond.

  Among total ticket sales last year, 27.136 billion yuan ($4.13 billion) was made by domestic movies, exceeding total revenues brought in by overseas films by 61.58 percent. Forty-seven domestic works earned more than 10 million yuan in sales and 11 witnessed a breakthrough of more than 1 billion yuan ($152 million) within a week after release.

  Meanwhile, the lowest weekly box office during the whole year still reached a remarkable 440 million yuan ($ 66.88 million), so that industry insiders called the year 2015 "a year without an off-season".

  A poster for the domestic movie Mojin - The Lost Legend. [Photo/Mtime]

  Expended theaters and online booking service

  The promising prospect of the film market is partially thanks to the constant investment in theaters and venues in the country. Up to 8,035 new screens were installed in 2015, pushing the total number of film screens to 31,627.

  Another reason for the boost is the ease of online ticket booking and moviegoers’ changing buying habits. In 2015, online ticket sales exceeded offline for the first time in China, with the former accounting for more than 60 percent of annual movie revenue.

  According to a report on the Chinese film industry released by Ali Picture's Taobao film (dianying.taobao.com) and H. Brothers Research (Huayi Bros. Media Group), the 100 movies that cooperated with Taobao online services in 2015 sold 23 billion yuan ($3.496 billion) in tickets, taking over 85% of the yearly box office number. During the seven-day National Day holiday last year, more than 70% of audiences bought their tickets through online booking apps or websites.

  The report also suggests that people under 25 years old, or the so-called "post 90s" generation, become the main force of movie goers. During the New Year period, those young movie fans contribute to more than 70% of ticket sales, with comedies being the most popular genre.

  A poster for the domestic movie Lost in Hong Kong. [Photo/Mtime]

  A poster for the domestic movie Goodbye Mr.Loser [Photo/Mtime]

Keywords:film,film market

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