Box-office revenue takes off
Print Edition
China’s box-office revenues surged in 2017 after slowing sharply the preceding year, as the world’s second-largest movie market edges closer to overtaking the US.
Ticket revenue grew 13.5 percent to 55.9 billion yuan (US$8.6 billion) on the mainland in 2017, more than triple 2016’s growth rate, Xinhua news agency said late Tuesday, citing data from the State Administration of Press, Publication, Radio, Film and Television.
China’s box-office grew just 3.7 percent in 2016, dramatically slower than 2015’s 48 percent growth.
Over half of 2017’s ticket revenue came from domestic films, with record breaking patriotic action blockbuster “Wolf Warrior 2” collecting 5.7 billion yuan, topping the year’s box office list. The American action thriller “The Fate of The Furious” came in second, with box-office revenue of 2.7 billion yuan.
International films — most of which were made in the US — grossed 25.8 billion yuan and took up 46 percent of 2017’s total revenue, compared to 19 billion yuan and 42 percent in 2016.
Hollywood is eying keenly China’s potentially lucrative movie market, although the government caps the number of foreign films that can be released in Chinese cinemas.
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