The Chinese cinema industry is set to outshine the US in box office takings in 2020 a new study has revealed.
According to a new study released by PricewaterhouseCoopers, Chinese cinemas will next year gross $12.28bn (£9.6bn/€10.7bn) in 2020, compared to $11.93bn in the US. The study predicts that the US box office will generate $12.11bn in 2019, compared to China’s $11.05bn.
China, with a population of 1.4 billion people, currently sells more cinema tickets than the US, which has a population of 328.9 million.
The study states: “As the Hollywood majors continue to release mega-budget films, exhibitors are tempting consumers away from streaming platforms at home and back to theatres with high-quality screening facilities.
“Membership schemes can soften the impact of increased admissions for cinemagoers and are expected to become more popular over the forecast period.”
China’s usurping of the US as the world’s biggest cinema box office comes as reports suggest the country has begun targeting Hollywood as part of the two nations’ escalating trade war. The Daily Telegraph says China is refusing to show Western films and is firing American actors.
The US film industry has increasingly relied on the success of its movies in the Chinese market, but China’s Film Bureau has reportedly been indicating to distributors that US movies would not be given release dates in future.
Image: Pixabay
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