SMALL BOX OFFICE Taking
Hollywood studios receive just 25 per cent of China’s field office whereas other businesses give productions twice that, he said.
” For a high-profile sentence of Hollywood is an all-win movement of power by Beijing that will definitely be noticed by Washington”, Fenton added.
Earlier this month, two prominent Chinese blogs suggested that one reaction to Trump’s taxes would be to ban or restrict National movies. Some attendees dismissed the possibility, noting China’s Film Bureau had given Marvel’s Thunderbolts an Apr 30 launch day.
The restrictions arrive before the start of the summer container office, with such big releases as Mission Impossible- The Last Reckoning, which may indicate Tom Cruise’s final appearance in the long-running franchise, a new Superman movie from Guardians of the Galaxy filmmaker James Gunn, and Marvel’s innovative take on The Fantastic Four.
Seth Shafer, main scientist at S&, P Global Market Intelligence Kagan, predicted the limitations may have limited effects.
” Only about 25 per cent of home wide-release films are then released in China and that percent has dropped steadily over time due to increasing opposition from China’s local movie production business”, Shafer said. ” For domestic films that do get a release in China, typically less than 10 per cent of the film’s global gross box office revenue comes from China”.
In 1994, China began importing 10 American films each year through the internationally recognised revenue-sharing distribution model. Imports including Titanic and Avatar became box office smashes in the Chinese market, making actors such as Leonardo DiCaprio and directors such as James Cameron household names among Chinese film lovers across generations.
China is the world’s second-largest film market. However, in recent years, as local entertainment culture has bloomed, the enthusiasm of Chinese audiences for Hollywood movies has waned.
Since 2020, domestic films have consistently accounted for around 80 per cent of annual box office revenue, up from around 60 per cent previously.
On China’s all-time box office list, only one imported film ranks in the top 20- Avengers: Endgame, with revenue of 4.25 billion yuan ( US$ 579.83 million ). The remaining films in the top 20 are all domestic productions.