China becomes world’s No. 2 box office market
25 Mar 2013
China, the world's second-largest economy, has overtaken Japan to become the world's second-biggest movie market, according to latest statistics released by the Motion Picture Association of America Inc (MPAA).
Chinese box office revenues have been growing steadily over the past few years, registering a 36-per cent increase in 2012 at $2.7 billion, falling behind only the US and Canada which grew a combined 6 per cent to $10.8 billion.
Revenues in Japan, which was pushed to the no.3 position, rose 4.3 per cent to $2.4 billion.
Washington-based MPAA is an American trade association which represents six big Hollywood studios. It calculates international box office country-by-country based on a variety of primary and secondary data sources.
Global movie revenues reached $34.7 billion last year, up 6 per cent over 2011's total, due to growth in international markets and in the US and Canada which were $23.9 billion and $10.8 billion respectively. Revenue growth was reported in majority of geographic regions, except crisis-hit Europe.
Excluding the US and Canada, top 10 countries account for about two-thirds of the international box office market, with a cumulative revenue of $15.7 billion.
The UK and France are in the fourth and fifth positions with revenue of $1.7 billion each followed by India which came sixth with box office revenue of $1.4 billion.
Germany and South Korean markets registered revenues of $1.3 billion each followed by Russia and Australia with $1.2 billion each and Brazil with 800 million.
International box office is up 32 per cent over five years ago, due to growth in various markets driven by rapid growth in the number of digital cinema screens worldwide, MPAA said.
Overall, screens increased by 5 per cent in 2012 and over two-thirds of the world's nearly 130,000 cinema screens are now digital.
Asia Pacific led international box office growth for all films released in 2012 with 15 per cent. Latin America box office grew 6 per cent centered around major markets, including Brazil. Europe, Middle East & Africa decreased 1 per cent, attributable to declines in certain European markets including France, Italy and Spain.
According to MPAA chairman and CEO Christopher Dodd, the Chinese appetite for Hollywood movies has been growing significantly, as government's policy changes have increased the number of foreign films that can be released in the country.
Four super-hit movies which crossed that $1 billion mark in worldwide sales in 2012 include The Avengers with $1.5 billion, Skyfall and The Dark Knight Rises with $1.1 billion each and The Hobbit with $1 billion.
