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Media Trends

Axios Media Trends

Data: PwC Global Entertainment & Media Outlook 2020–2024; Chart: Axios Visuals

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.

Go deeper: Disney's Mulan was filmed in Xinjiang amid cultural genocide

Why China matters to the movie industry

Prior to the pandemic, PwC estimated that China would overtake the U.S. box office this year.

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Movies

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China

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 <a class="gtmContentClick" data-vars-link-text="estimated" data-vars-click-url="https://link.axios.com/click/21444641.40/aHR0cHM6Ly93d3cucHdjY24uY29tL2VuL3ByZXNzLXJvb20vcHJlc3MtcmVsZWFzZXMvcHItMTcwNjE5Lmh0bWw_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNlbmR0b19uZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/5cee9cc47e55544e860fbf4eB2b032879" data-vars-item="in_content_link" href="https://link.axios.com/click/21444641.40/aHR0cHM6Ly93d3cucHdjY24uY29tL2VuL3ByZXNzLXJvb20vcHJlc3MtcmVsZWFzZXMvcHItMTcwNjE5Lmh0bWw_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNlbmR0b19uZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/5cee9cc47e55544e860fbf4eB2b032879" target="_blank">estimated</a> 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.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

China is becoming the most formidable rival America has faced, and the risk of confrontation with Russia, North Korea or Iran still looms. Authoritarians are rising, the chaotic Afghanistan exit revealed the limits of U.S. power, and the pandemic, climate change and other critical challenges continue to pose grave threats.