Asia Pacific Is World’s No. 1 Box Office Region
The $16.7 billion Asia Pacific market is the world’s No. 1 box office region, commanding a 40.6% share of the global total despite trade tensions between the U.S. and China, MPA and former Australian prime minister Kevin Rudd said at the Asia Society’s U.S.-Asia Entertainment Summit in Los Angeles.
“Whether you like it or not, U.S.-China relations are affecting the Asia Pacific region big-time” and will be the key factor shaping its future in 2020 both geopolitically and in terms of the entertainment industry, Rudd said. Unfortunately, that relationship is “getting to be increasingly difficult at a structural level” as the dynamic is “taking an increasingly ideological turn.”
Nevertheless, Rudd expressed a measured optimism that, given the U.S. and China’s interdependence, “to say we are on a path towards economic decoupling is a vast overstatement of reality.”
Photo Credit: Film still from Hobbs & Shaw; DANIEL SMITH/UNIVE