Chinese box office predicted to exceed North American within decade
At the opening day of the annual CinemaCon annual conference for theater owners in Las Vegas, Warner Bros. international executives noted the 65% expansion of the Chinese film market, predicting that it is poised to beat the North American box office in ten years.
China’s box office revenues increased $1.5 billion last year in China, in part due to new cinema construction and with half of the earnings coming from 3D titles, according to The Hollywood Reporter.
With an average of three new screens added each day, said keynote speaker Millard Ochs, president of Warner Bros. International, China is an important emerging market, along with Brazil, Russia and India.
IMAX struck an agreement recently to build 75 giant screens in partnership with Wanda Cinemas, China’s largest theater chain, over the next three years, adding to its 35 theaters currently.