CHINA¡¯S FILM INDUSTRY GROWS FAST IN FIRST SEMESTER OF 2015
2015-08-25

Data from film consulting company Entgroup suggest the Chinese box office reached USD 3.26 billion in the first semester of 2015, a 49% growth year-on-year. There is still quite a gap between China and North America, where the box office amounted to USD 5.55 billion in the same period. But China has been progressively catching up, and its box office even beat that of North America last February, the month that marks Chinese New Year, and is expected to become the world¡¯s largest market in the near future.

By the end of June, there was a total 27,000 screens in China, including 350 new ones in the first half of 2015 alone, a remarkable growth essentially due to Wanda Group, who opened a number of new Wanda Plaza complexes throughout the country. After acquiring of 15 movie theaters in June for CNY2.2 billion, the group is set to invest another CNY600 million to 1 billion in July, according to to an insider source.

Also under the Wanda Group banner is China¡¯s largest movie theater management company Wanda Cinema Line, with a total of 187 theaters in the country. Second is Stellar Mega Media, who will open 120 theaters in the next 3 years to reach 200 theaters for over 1000 screens by then.

 

Source: www.huaxia.com

Edited by: Royal Seal Group International