1. China’s box office to topple US; to top world in 2017: Report

China’s box office to topple US; to top world in 2017: Report

Reports says that China's box office takings are expected to hit $15.08 billion by 2020.

By: | Bejing | Published: June 12, 2016 4:39 PM
boxoffice reu l The report by PricewaterCoopers (PwC) forecasts that China’s box office revenue will hit .3 billion in 2017, while the US is expected to ring up .14 billion. (Reuters)

China’s box office revenue is set to surpass that of the United States in 2017 and claim the title of the world’s largest touching $10.3 billion, international accounting firm PwC said today.

The report forecasts that China’s box office revenue will hit $10.3 billion next year, while the United States is expected to ring up $10.14 billion, state-run Xinhua news agency quoted a PricewaterhouseCoopers report as saying.

With a compounded average annual growth of 19.1 per cent, China’s box office takings are expected to hit $15.08 billion by 2020, the report said.

The report estimates a whopping $49.3 billion of box office earnings across the globe in 2020, with nearly one third of it to be generated in China.

Jiang Xiaoping, a PwC China partner, said the robust expansion of China’s film industry is driving the global development.
According to predictions, revenue from advertising in the Chinese film industry will exceed $161 million by 2020, and the average ticket price will climb to $6.04 from $5.44 currently, the report said.

Tags: China
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