China Box Office Overtakes North America in First Quarter of 2018

Variety | 4/2/2018 | Patrick Frater
Les7799 (Posted by) Level 3
Click For Photo: https://pmcvariety.files.wordpress.com/2017/05/red-sea-explosion-2-res.jpg?w=700&h=393&crop=1

China’s theatrical box office overtook North America to become the biggest in the world in the first quarter of this year.

Gross theatrical revenues in China amounted to RMB20.2 billion in the three months to the end of March, according to data assembled by Variety from official and industry sources. Using a conservative exchange rate of RMB6.30 to the U.S. dollar, that equates to $3.17 billion. In comparison, North American theaters (comprising those in the U.S. and Canada) enjoyed aggregate revenues of $2.89 billion in the same period, according to data tracking and consultancy service ComScore.

Film - Business - China - North - America

It has frequently been predicted that the film business in China would overtake North America’s. But forecasters got their timing wrong when more than a decade of unbroken Chinese growth stalled between mid-2016 and mid-2017.

The Chinese data for January to March point to a 39% bounce compared to the first quarter of 2017. However, that surge is unlikely to be sustained through the whole year. Chinese government sources have pointed to a 15% to 20% growth rate as more likely for 2018.

China - Box - Office - RMB55 - End

China’s box office in 2017 was RMB55.9 billion, which was reported as $8.6 billion using end 2017 exchange rates. The recent weakening of the dollar against the Chinese currency makes the Chinese figures bigger...
(Excerpt) Read more at: Variety
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!