Seeking profit in China's love of cinema
By Zhu Shenshen |
June 17, 2012, Sunday
|
Print Edition
Print Edition
"MEN in Black 3" was still the biggest box-office draw in China last week, a fortnight after it debuted. The movie's success also marked the 19th consecutive week that a Hollywood film has topped the Chinese box office.
Hollywood's box office dominance is one of the issues that the Chinese film industry and market figures will be considering at the 15th Shanghai International Film Festival (SIFF).
"We want to be a bridge to buyers, producers and distributors from both home and abroad," said Fan Yang, a SIFF marketing official.
"It will make the Chinese film market more diversified and healthy."
In 2011, China's box office reached 13.1 billion yuan (US$2.1 billion) - a jump of almost 30 percent - making it the world's third-biggest country by box office. More than 800 new cinemas with 3,000 screens opened last year.
But domestic film market development also faced challenges, such as the dominance of Hollywood blockbusters, a lack of international awareness for Chinese firms, and insufficient opportunities for film trading platforms, according to research firm Entgroup.
In 2011, China produced 791 films, but only 51 received awards internationally. Some 23 organizations distributed 52 films overseas, generating revenue of 2.0 billion yuan - a 43 percent decrease on 2010.
China urgently needs a film trade platform to bring together producers with limited budgets and buyers and distributors with capital, analysts say.
However, SIFF organizers say that since the festival began in the 1990s it has helped establish such a platform.
"What we called a trade market in the first SIFF was just a room and several chairs," Shen recalled.
In contrast, SIFF - China's only film market - had 143 domestic and overseas exhibitors in 2011's trading session. This attracted more than 2,000 buyers from all over the world, resulting in around 700 deals being signed.
For 2012, the SIFF film market has attracted more than 400 exhibiting companies, evenly split between domestic and foreign exhibitors.
Chinese artists and investors have also found opportunities during SIFF.
Among those is actress Qin Hailu, who invested and acted in "The Piano in a Factory," the story of a father laid off from a steel factory and desperately trying to get a piano for his daughter. The film received many awards at SIFF 2011 and was a commercial success.
In 2012, films for sale will be shown in nearly 300 market screenings.
In addition to the traditional film market, SIFF is attempting to expand into booming new media sectors.
Chinese video-streaming websites offer online movies through low-cost or free-with-advertising business models and the Internet has become an alternative channel for 500 million Chinese to watch films.
Top Chinese video websites, including Youku, will attend SIFF's film trade market as buyers.
And this year, SIFF has cooperated with Mobile Asia Expo 2012 for the first time. Films for mobile phones will be shown as SIFF and the Mobile Asia Expo in Shanghai this month.
Hollywood's box office dominance is one of the issues that the Chinese film industry and market figures will be considering at the 15th Shanghai International Film Festival (SIFF).
"We want to be a bridge to buyers, producers and distributors from both home and abroad," said Fan Yang, a SIFF marketing official.
"It will make the Chinese film market more diversified and healthy."
In 2011, China's box office reached 13.1 billion yuan (US$2.1 billion) - a jump of almost 30 percent - making it the world's third-biggest country by box office. More than 800 new cinemas with 3,000 screens opened last year.
But domestic film market development also faced challenges, such as the dominance of Hollywood blockbusters, a lack of international awareness for Chinese firms, and insufficient opportunities for film trading platforms, according to research firm Entgroup.
In 2011, China produced 791 films, but only 51 received awards internationally. Some 23 organizations distributed 52 films overseas, generating revenue of 2.0 billion yuan - a 43 percent decrease on 2010.
China urgently needs a film trade platform to bring together producers with limited budgets and buyers and distributors with capital, analysts say.
However, SIFF organizers say that since the festival began in the 1990s it has helped establish such a platform.
"What we called a trade market in the first SIFF was just a room and several chairs," Shen recalled.
In contrast, SIFF - China's only film market - had 143 domestic and overseas exhibitors in 2011's trading session. This attracted more than 2,000 buyers from all over the world, resulting in around 700 deals being signed.
For 2012, the SIFF film market has attracted more than 400 exhibiting companies, evenly split between domestic and foreign exhibitors.
Chinese artists and investors have also found opportunities during SIFF.
Among those is actress Qin Hailu, who invested and acted in "The Piano in a Factory," the story of a father laid off from a steel factory and desperately trying to get a piano for his daughter. The film received many awards at SIFF 2011 and was a commercial success.
In 2012, films for sale will be shown in nearly 300 market screenings.
In addition to the traditional film market, SIFF is attempting to expand into booming new media sectors.
Chinese video-streaming websites offer online movies through low-cost or free-with-advertising business models and the Internet has become an alternative channel for 500 million Chinese to watch films.
Top Chinese video websites, including Youku, will attend SIFF's film trade market as buyers.
And this year, SIFF has cooperated with Mobile Asia Expo 2012 for the first time. Films for mobile phones will be shown as SIFF and the Mobile Asia Expo in Shanghai this month.
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