The incomes of Chinese cinema are falling

17/06/2019

 

For the first time in nine years, the lack of major film successes has resulted in a lower collection for the Chinese cinema box office

 

The lack of great cinema successes in China has caused, for the first time in nine years, a decrease in the takings of Chinese cinema. In particular, data from China’s online ticketing service provider Maoyan show that, compared to 2011, total cinema viewers also fell.

The great cinematographic successes, also called blockbusters, are a fundamental factor that helps the cinemas to increase the takings. Those are the films we all go to see at the cinema.

 

The lack of blockbusters is one of the important factors contributing to the fall in receipts

 

The China National Radio (CNR News), quoting Wei Pengju, principal of the School of Culture and Communication at the Central University of Finance and Economics in Beijing, also confirmed that Chinese films have grossed 24.9 billion CNY (USD3 , 6 billion) in the first five months of this year, with a decrease of 6% per year, while the number of spectators during the period was 689 million with a decrease of 13%.

Wei also added that it is the quality of the films, especially those of Chinese national production, that was the key factor that accelerated the decline of the Chinese cinema market.

 

Only the earnings of the Avengers: Endgame, Bumblebee and Captain Marvel films have exceeded 1 billion CNY

 

Obviously, there have been films that helped the box office this year. In particular, the films Avengers: Endgame, Bumblebee and Captain Marvel, which have exceeded 1 billion CNY. In addition to these, there are three films that hit Chinese screens during the peak of Chinese New Year holidays: The Wandering Earth, Crazy Alien and Pegasus.

Although Chinese cinema did not do very well this year, there are still figures from London’s accounting services provider PricewaterhouseCoopers confirming that China will surpass the United States to become the largest film market in the world next year, with earnings on tickets reaching around USD12.3 billion, above CNY84 billion (USD12.1 billion).

 

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