Despite robust growth in box office, China's film industry hits five-year low

MUMBAI: According to a report, China‘s domestic film industry has hit a five-year low despite robust growth in box office sales across the country in the first half of this year.

The industry is going through a rough patch as ticket sales of domestic films started plummeting in the first six months, a time when the country‘s total box office revenues gained by over 40 per cent compared to that a year ago.
In the January-June period, 14 blockbusters hit Chinese theatres among the 38 imported films screened in the country, and only two of them failed to bring in more than 100 million yuan.

In contrast, among the 141 China-made movies screened in the same period, only 5 per cent managed to break even and the rest lost money, it is understood.
The box office for domestic films dropped by 4.3 per cent year on year to 2.8 billion yuan (444 billion U.S. dollars), according to the latest data from the State Administration of Radio, Film and Television (SARFT).
The slump came just months after China amended rules in February to import more Hollywood movies for national distribution. In the meantime, ticket sales of foreign films jumped by 90.4 percent year on year to 5.27 billion yuan.
China‘s rapidly expanding movie market collected 8.07 billion yuan in the first six months -- up by around 41.7 per cent from a year ago.
The country had previously allowed only 20 American films, mostly big-budget Hollywood fare,- to be distributed nationally each year. In February, the country agreed to allow an additional 14 US films to be distributed each year as long as they are made in the 3D or IMAX formats.
China represents one of the most attractive growth opportunities for the US film industry that is facing declining theatre revenues and slumping DVD sales in North America.

Latest Reads
Mobile promotions Fox 'Ae Dil...' on UCWeb

Promotion on the go for 'Ae Dil..." Alibaba Mobile Business Group’s UCWeb India charted a new success story through its tie-up with Fox Star Studios, India, Dharma Productions and Sony Music India to promote the highly anticipated Diwali release, Ae Dil Hai Mushkil.

Movies Hindi
Box Office: A disastrous week for film exhibitors

It has been another disastrous week at the cinema halls and the wait is now on for Diwali week releases. All the releases failed to find audiences and faced the no-audience-no-show situation. The films released a week earlier were faced with the similar fate as well.

Movies Hindi
Govt says 'no mushkil' to 'Ae Dil' even as Pak industry supports Indian content ban

NEW DELHI: Although Indian is almost completely banned in Pakistan now courtesy PEMRA, in India, it became a Catch-22: give in or give up. But, ultimately Karan Johar managed to get an assurance that ‘Ae Dil hai Mushkil’ would be released as scheduled on 28 October, after the Maharashtra chief...

Movies Hindi
Sony Pictures signs three-film deal with international producers

MUMBAI: Sony Pictures International Productions (SPIP) has inked a deal with Mexico and Los Angeles-based producers Eduardo Cisneros and Jason Shuman. With this multi-picture development, the producers will write and produce three new feature films with the studio.

Movies Hollywood
31st October: Genuine effort wasted

Rather late in the day, 31stOctober is a film about the Sikh genocide of 1984 in Delhi in the aftermath of assassination of the then prime minister of India Indira Gandhi. She was killed by her security guards, who happened to be Sikh. That assassination, again, is attributed to the anger of the...

Movies Hindi
TV premiere of Daniel Craig's 'Spectre' on 23 October

Movies Now is all geared up to air the television premiere of the Daniel Craig starrer James Bond movie Spectre. With Diwali round the corner, the movie will hit the TV screens on 23 October at 1 pm and a repeat telecast at 9 pm.

Movies Hollywood
Jio MAMI: Royal Stag Barrel joins Star to promote short films

The Jio MAMI 18th Mumbai Film Festival with Star has managed to involve Royal Stag Barrel Select Large Short Films to provide a platform within the short films category.

Movies Hindi
India against obstructing Fawad film; Maharashtra assures 'protection'

Even as PEMRA's ban on Indian content looms, the Indian Government has made it clear that it will not create any impediment for the release of producer-director Karan Johar’s 'Ae Dil Hai Mushkil’ starring popular Pakistani actor Fawad Khan, among others.

Movies Hindi
'Thithi' to open Dharmashala fest; to screen 45 features and shorts

A total of 45 features and shorts are to screened at the fifth Dharamshala International Film Festival (DIFF) to be held from 3 to 6 November.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories