Local Movies Ruled the Asia Box Office in 2020. How Can Hollywood Catch Up?1 min read
Reading Time: < 1 minuteWhile the North American box office pulls in less than $5 million per weekend due to COVID-19, the China and Japan markets are not only open, but also capable of breaking theatrical records. It may feel logical to hurry more U.S. movies into Asian release, but when the real winners across the continent in 2020 have largely been local releases, studios and streamers will need to think long and hard about their strategy going forward.
Certainly, earning even a lowball $10 million from a theatrical release in China appears to be an attractive option at a time when Europe and the North American domestic markets are currently so dysfunctional. This was the route taken by Disney with Mulan, which went to premium VOD in Disney Plus territories and grossed a handy $42.2 million (RMB277 million) from Chinese theaters.
Similarly, Universal has seen China cinemas deliver $49.9 million of the $85 million global theatrical cumulative to date on The Croods: A New Age. Meanwhile, Warner Bros.’ Wonder Woman 1984 earned $18.8 million in three days in China where there is no HBO Max outing to undermine the exclusive theatrical window.
Image Credit: Showbox
