Why China matters to the movie industry
Mainland China is expected to remain the second-largest global cinema market both in admissions terms and in box office revenue through 2024, per PwC.
The state of play: Prior to the pandemic, PwC estimated that China would overtake the U.S. box office this year. Mainland China already has the most movie screens of any country in the world and continues to grow despite the pandemic.
Yes, but: China brought in roughly $2 billion in ticket sales for Hollywood films last year, per PwC, but that revenue was split in favor of the Chinese, with U.S. studios receiving only a 25% share.
- China only allows 34 international films to enter the market per year.