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China Box Office Predicted To Hit $4.5B In 2014 Based On Latest Figures

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China Box Office On Track For 24.7% Growth To $4.49 Billion

Hollywood investment in China is surging, along with record box office takes in the Middle Kingdom. Dominic Patten reports.

China-flag__130422145455In the first five months of 2014, Chinese box office hit 10.2B yuan, or about $1.63B, with local movies dominating the market at 56% through May 21. Watchdog SAPPRFT released the figures today via state news agency Xinhua. Those numbers have led analysts to predict total 2014 box office could top out at a staggering 28B yuan, or around $4.49B. That would rep a 24.7% change from 2013 which ended with $3.6B. I say staggering because the numbers really do look wild, but a 24.7% increase would be slightly lower than the 27.5% jump from 2012 to 2013.

It’s difficult to make an apples-to-apples comparison with 2013 based on the figures released today given that last year the authority provided half-year numbers in July. However, it’s worth noting that it took six months in 2013 for box office to cross the 10B yuan mark. This year, it was less than five. In the first six months of 2013, Chinese films also ruled the box office at about 61%, grossing $1.1B in the semester which had total takings of $1.79B. This was a reversal from the whole of 2012 when, much to the chagrin of SAPPRFT (then SARFT), market share had fallen to under 50% for the first time in four years.

the monkey kingBut U.S. movies are still doing big business in the world’s No. 2 box office territory thus … Read More »

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‘The Monkey King’ Sets Opening-Day Record For IMAX China

By | Tuesday February 4, 2014 @ 1:35pm PST

ImaxIt was definitely a happy Chinese New Year for IMAX on Friday. The giant-screen exhibitor said local-language hit The Monkey King grossed $1.8M on January 31, breaking China‘s opening-day IMAX record of $1.5M set by Iron Man 3 last year. The 3D martial-arts pic from Filmko Pictures and China Film Group took in $20M throughout China on Day 1, also breaking IM3′s mark. IMAX said its Chinese theaters took in $4.5M for the three-day holiday weekend. New Year celebrations continue through the week.

Related: Wanda Cinema Line Adding 80 IMAX Theaters In China

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