China box office to grow 12 pct annually: UBS

Updated 2018-01-24 00:22:00 Xinhua

China's movie box office revenue is estimated to grow at an average annual rate of 12 percent between 2017 and 2020, boosted mainly by increases in the number of movie screens, UBS Securities said Tuesday.

The film market posted a better-than-expected performance in 2017, it said in a research note.

But movie screens in small cities have fewer viewers than in big cities, it said, thus lowering the predicted box office from each screen by two to five percent between 2018 and 2020.

Domestic films have won more recognition. Sixty-eight percent of survey respondents said they liked domestic films in 2017, eight percentage points higher than a year ago, it said.

On the contrary, 71 percent said they liked Hollywood movies, six percentage points lower than a year ago.

In the third- and fourth-tier cities, more moviegoers favored domestic films over Hollywood.

China's film industry has a big potential in terms of online distribution and the leading film distributors can expand their market shares through mergers, it said.

China's movie box office revenue rose 13.4 percent in 2017 to 56 billion yuan (8.7 billion U.S. dollars), with domestic films contributing 53.8 percent to the market, according to the State Administration of Press, Publication, Radio, Film and Television.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58February 23 2018 04:47:27

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16February 23 2018 04:47:27

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18February 23 2018 04:47:27

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords