Chinese Box Office Hit Record High In July
Chinese box office hit a record high of CNY5.49-B (US$897.5-M) in July.
An office in charge of film funds under the State Administration of Press, Publication, Radio, Film and Television (SAPPRFT) said Saturday that a total of 153-M people went to cinemas last month and box office revenue this year has totaled CNY 25.85-B
The office said the new monthly record owes much the success to Chinese films, which raked in more than CNY5.2-B about 95.6% of the overall figure.
The 3 biggest earners: live-action animation “Monster Hunt,” animated feature “Monkey King: Hero is Back,” and comedy “Jian Bing Man” took up more than 60% of box office ticket sales.
The SAPPRFT last week announced that “Monster Hunt” has overtaken Y 2012 low-budget comedy “Lost in Thailand” to become the most successful domestic film of all time in box office income.
According to a US box office count, “Monster Hunt” has also outperformed Hollywood productions “Minions” and “Ant-Man” in total box office gains.
It is estimated that the film earnings in China last month exceeded the yearly numbers from Y’s 2002 to 2005 combined.
As with national holidays like Lunar New Year and National Day, the month of July has long been a busy time for cinemas as most Chinese schools and universities start their Summer holidays in the month.
Over the last five years, the Summer holiday period has contributed about a 25% of the annual box office take.
China started to import American movies in Y 1994 and competition between domestic and overseas titles has grown even more intense since Y 2012, when China announced a significant increase in its quota for overseas movies.
In Y 2014, about 70% of the top 30 films in North American were screened in China.
Observers also attributed the success of domestic films to the country’s “Internet Plus” strategy, which is encouraging Internet firms to integrate with other industries.
Most of the best-performing films in July featured investments from Internet enterprises, and the novel Internet finance mode of crowdfunding also weighed in.
The credits of “Monkey King: Hero is Back” listed as producers 109 children, whose parents pooled money to aid the movie’s marketing.
“The Internet is no longer a simple technical assistant in China’s film industry. With vigorous moves through financing, mergers and cooperation, it is reshaping the industry,” said Rao Shuguang, secretary-general of the China Film Association.
Despite the huge success in China, experts noted that the Chinese film industry has a long way to go if it is to reach a global market.
Shi Chuan, a professor with the Shanghai Theatre Academy, said Chinese movies need to be better if they are to compete with Hollywood and other overseas productions.
However, considering the enthusiastic consumers, most observers expressed confidence in domestic films.
“The July record should be regarded as a milestone in China’s film industry,” said Zhang Hongsen, head of the SAPPRFT film bureau. “Also, Chinese filmmakers should keep in mind what is really driving the success — the audience.”
By Hou Qiang
Paul Ebeling, Editor
HeffX-LTN
The post Chinese Box Office Hit Record High In July appeared first on Live Trading News.