The revenue from the world’s second-largest movie market accounted for 13 percent of the $13.5 billion generated by the top 20 movies from U.S. studios.
The revenue from the world’s second-largest movie market accounted for 13 percent of the $13.5 billion generated by the top 20 movies from U.S. studios, according to a Reuters analysis of data from tracking firm Box Office Mojo. That was triple the 4 percent level five years ago.
The numbers illustrate China’s growing importance to U.S. studios such as Walt Disney Co’s (DIS.N) Disney Studios, Time Warner Inc‘s (TWX.N) Warner Bros. and Comcast Corp’s (CMCSA.O) Universal Pictures.
While China’s booming box office growth stalled this year in single digits, the country remains vital for Hollywood studios, box office analysts said. In 2016, China overtook the United States as the country with the largest number of movie screens.
Most of the top Hollywood movies would have reached the top of the film charts without China. But the additional revenue is significant, especially for blockbuster films that can cost $200 million or more to make.
“You can grab an extra hundred million (dollars) of revenue from the Chinese market,” said Jonathan Papish, film industry analyst for China Film Insider. “You can’t do that anywhere else in the world.”
Walt Disney Co’s (DIS.N) animated “Zootopia,” known in China as “Crazy Animal City,” was Hollywood’s biggest hit there, with $236 million in ticket sales, and ranked as the third-highest-grossing movie worldwide. China’s film authorities extended the movie’s theatrical run by two weeks beyond the typical 30 days for foreign films. Read the rest of this entry »