China Likely to Be Runner-up in Film Industry
China is very likely to jump from its current fourth-place position to second place in national box office revenue in the near future, according to an industry analyst.
“It’s a very real possibility as we are seeing a lot of development in new movie cinemas; for example, IMAX theaters that can play movies (and) exceptionally large-screens that can handle 3-D films,” Ben Cavender, Associate Principal at China Market Research Group, told China Radio International.
“China is really looking at boosting box office sales and is really trying to develop larger big budget films that are going to get people to the theaters.” The Chinese film industry’s box office earnings jumped a whopping 64 percent in 2010, according to statistics released by the State Administration of Radio, Film and Television.
China put box office earnings of the local movie industry at $1.5 billion last year. At present, the United States is ahead of all other markets as it notched box office revenue of $11 billion in 2010. Japan came second with $2.5 billion in earnings followed by India. With a total of 500 films having been made last year, China also ranked third behind Bollywood and Hollywood in terms of annual film output.