Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "China Movie Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
China Movie Market is expected to reach US$ 8.11 Billion by 2028 from US$ 4.65 Billion in 2022
China's film industry has witnessed a golden period, with growing cinema screens, film admissions, and box office. China is the world's second-largest economy and the oldest documented continuous civilization on the planet. It is also home to the largest and most dynamic global film industries.
Mainland films began to sprout in the early 20th century, and foreign filmmakers increased their involvement in the Chinese movie industry by working with Chinese studios. Factors driving China's film industry growth is the government's focus on promoting and supporting the development, which includes measures such as providing tax breaks for film production and investing in modern film studios and equipment.
China Cinema Market is projected to grow with a staggering CAGR of 9.71% from 2022 to 2028
Ticket prices will be low due to the offer and discounts by E-commerce ticketing platforms. Such rapid growth is attributable to the following factors: The pursuit of lifestyle change by the younger generation, fast expansion of shopping malls, acceleration of urbanization, increased penetration of film broadcasting into lower-tier regions, and online ticketing platforms offering low prices and convenience.
Millions of Movie and Hundreds of New Screens will come in Upcoming Years
The China cinema screens have increased almost 20-fold since 2007. The rise of 3D film showings has also increased the number of digital 3D cinema screens. The number of cinema screens increased to 82,248 in 2021 from 60,079 in 2018. Also, in 2021, about 1.17 billion tickets were sold at movie theaters in China. Hollywood blockbusters found it hard to compete with Chinese domestically produced films.
Domestic Chinese Movies will Capture more Revenue in Forecast Period
The China movies an industry is further bifurcated based into domestic and imported. With more exposure to Hollywood big-budget films, Chinese audiences had an increasing appetite for fast-paced, exciting entertainment. The local Chinese industry started producing successful blockbusters to meet such consumer demand.
Chinese movies outperformed the US as the world's largest theatrical film market. The Chinese domestic film industry is infrastructural expansion relatively young and has witnessed a massive over the past two decades. With an increasingly capable China film industry that has churned out high-quality films one after another in recent years, filmmakers are able and willing to tell China's stories. Chinese people's now also expect to see more stories that represent them.
Furthermore, China is quietly allowing more foreign films to be imported to enable greater access to the world's fastest-growing film market has stalled. China is trying to keep the market growing, and there are not enough domestic films being produced to meet audience demand. Revenue-sharing films helped drive the upgrade of film distribution infrastructure in China.
In 2001, the Chinese government enacted regulations requiring theaters to meet specific criteria to exhibit revenue-sharing titles. In recent years, the Chinese market for imported films has flourished so much that Chinese movie consumer demand is already affecting the content of Hollywood's creative output.
5 Tiers Cities will rise in Upcoming Years
China has been consistently upholding cultural diversity, openness, and inclusiveness in importing good movies that reflect the splendid achievements of civilizations from across the world. China's smaller cities' consumption could triple by 2030, thanks to favorable government policies, a population boom, higher household income, and a more robust spending appetite.
Another factor boosting the population in smaller (4-5 Tiers) cities is a greater willingness to have a second child compared with Tier-1 towns. The Shandong province is dominated by more miniature cities and has the highest birth rate in the nation.
Rising disposable incomes among the growing Chinese middle class also boost the movie industry in 1 and 2 tiers Cities. The increasing number of cinema screen expansions and the rising ticket prices has been instrumental in this growth for China's 1 and 2 tiers.
China, which will eventually surpass the North American movie market at this growth rate, has become a significant market for global movie producers looking to pump up their box office collections. The country has become a target market for many big-budget Hollywood movies despite the country's limited quota for imported films and strict censorship.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.65 Billion |
| Forecasted Market Value (USD) by 2028 | $8.11 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | China |
Company Insights:
- IMAX China Holding
- Alibaba Pictures Group Limited
- HuayiTencent Entertainment Company Limited
- Perfect World
- China Film Company Ltd
- Beijing Enlight Media
- Wanda Film Holding Co Ltd
China Movie Market covered from 2 viewpoints:
- Domestic (Chinese) Movies
- Imported Movies
China Movie Industry Analysis covered from 2 viewpoints:
- Movie Screens in China
- Movie Admission in China
Tier City - China Movie Ticket Pricing Analysis covered from 5 viewpoints:
- 1st Tier Cities
- 2nd Tier Cities
- 3rd Tier Cities
- 4th Tier Cities
- 5th Tier Cities
For more information about this report visit https://www.researchandmarkets.com/r/tws1ua
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