(I-BusinessNews.Com, August 05, 2020 ) 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.
COVID-19 Impact on China Cinema Market
COVID-19 has impacted China cinema market almost 44 films in China cancelled or postponed in till March 15. The Chinese government has also ordered shut down of cinemas, and the whole film industry is also under heavy regulation. The Chinese government also regulates film shooting in some parts of the country, and more than 70,000 movie theatre has been closed due to epidemic. The ticket sale has also declined during the Chinese New Year holiday period. The impact of COVID-19 is also on the global cinema market; according to some reports the loss will be almost up to US$ 5 Billion.
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Market Summary:
By Film Production: The research report covers Special Films, Feature Film, Popular Science Films, Cartoons and Documentary. According to the report, Chinese likes to watch Feature Film and Popular Science Films as compared to other types of films.
By Type: Domestic, Imported, Exported films market are also covered in this research report
By City: The ticket price and market of 1st, 2nd, 3rd, 4th, 5th Tier cities are covered in the report. Tier 1 and Tier 2 cities have much more market share than Tier 3, Tier 4 and Tier 5 cities.
By Company: Overview, Recent Development and Sales Analysis of IMAX China Holding, SMI Holdings Group Limited, Huayi Tencent Entertainment Company Limited, Perfect World, Wanda Film Holding Co Ltd are covered in this research report.
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Also Read: https://www.pressreleasepoint.com/china-cinema-market-will-be-us-22-billion-2025-renub-research
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