By Jacky Wong Close Jacky Wong Oct. 22, 2020 6:31 am ET This may be the year China finally overtakes North America as the world’s largest movie market. But like everywhere, the country’s movie industry still faces the structural problem of competition from online entertainment.
The recent Golden Week holiday shows that moviegoers have largely put the pandemic behind them: Box-office revenue over the eight-day period amounted to 4 billion yuan, equivalent to about $600 million, according to movie-analytics firm Dengta. That was still 11% lower than the same period last year even though there was one more day in the holiday this year.
While the box office in China is on track to fully recover, the industry still faces the same challenges as cinemas everywhere: Online streaming has affected attendance while revenue increasingly depends on just a few blockbusters. That was evident even before the pandemic: China’s box office grew 5% in 2019, better than the 5% decline in North America, but a sharp slowdown from double-digit growth of just a few years back.
No wonder why Hollywood loves Joe.
Dane-se, ninguém se importa com o que a China ganha ou perdi.
Because majority of cinemas in other countries are closed.
Hmm. China you say?
Sorry, but I cannot sit in a movie theatre with a mask on the whole time. I’d rather wait a full year before returning under better conditions. Historically, pandemics have lasted no more than 1.5 - 2 years. I will wait.
Enjoy