According to the latest report by Renub Research, titled “China Cinema Market, By Film Production, Online Market, Tier Cities, Ticket Price, Movie Screen, Movie Admission, Company” China’s motion picture market is growing at a rapid pace. By the end of the year 2020, China will surpass North America in revenue produced as well as in the number of viewers. This growth is propelled by the initiative taken by Chinese internet firms, namely Alibaba, Baidu and Tencent. Real estate developer like Wanda, these firms have used available resource to enter the entertainment industry and developed an ecosystem and environment for the cinema market in China. According to Renub Research analysis, China Cinema Market is forecasted to be US$ 22 Billion by 2025.
Wanda Group has purchased AMC Entertainment Holding Inc. (AMC), and it has become the world’s largest cinema chain operator. This group has been listed on Shenzhen Stock Exchange’s SME Board in early 2015, and it was first cinema chain stock listed on china stock market.
China’s culture and entertainment industry are growing at a rapid pace since the last few years, and this trend will continue in the upcoming years as well. Entertainment forms like films, television and online videos will experience rapid development and competition between “new giants” and “old giants” will become ferocious. Collaboration between different business and competition will be much more than earlier times.
Chinese like to watch Feature Film and Famous Science Films as they are produced in large numbers as compared to other films. China cinema industry also produces special films, cartoon and documentary films. Currently, major cities in China are having a significant share in cinema market as compared to Tier 3, Tier 4 and Tier 5 cities as they have higher per capita income, disposable income and rapid growth of 3D screens in the country.
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