Hollywood Struggles for Fans in China’s Growing Film Market (bloomberg.com)
With China’s box office takings expected to return to near pre-pandemic highs in 2021, the world’s largest movie market is becoming more attractive — and more tricky — for Hollywood studios.
Ticket sales from movie theaters in China, which has largely contained the coronavirus, may jump to 60 billion yuan ($9 billion) this year, according to Rance Pow, founder of consultancy Artisan Gateway, closing in on 2019’s record haul of 64 billion yuan. By contrast, with outbreaks still raging, U.S. cinemas may take in about a third of that tally, Wedbush Securities estimates, underscoring Hollywood studios’ growing dependence on the Asian country.
By: Shirley Zhao