IHS Markit Cinema Intelligence has now added a dynamic Market Tracker for the cinema industry in China. This is a quarterly Market Tracker and aimed at giving subscribers access to the latest data and thoughts on key trends in the Chinese cinema industry.
The Chinese cinema market in the first nine months of 2017 is performing well after a disappointing 2016, driven by a few hits. Local title, Wolf Warriors 2 (2017), became China’s highest hit of 2017 and also of all time, grossing RMB 5.6 billion ($862.7 million). Hollywood film, Fast and Furious 8, comes in as the second highest in 2017 to date. The total box office in the first three quarters reached RMB 42.6 billion ($6.4 billion), a 20% growth over the same period of the previous year. Screen growth is still dynamic in 2017, with approximately 4,951 new screens added in the first half of 2017, or 27.5 screens per day, a similar rate to 2016.
According to IHS Markit, the cinema market in China will see a less dynamic future than the previous years of high growth, but there will still be growth. Its low screen density and low average admissions per head suggest there is still room to grow compared to its counterparts. The screen expansion will continue to grow but will slow down in pace, as screen construction works its way down the tiers of cities. New-build cinemas are more located in smaller cities where cinemas are smaller in size and ticket prices are lower.
More market trends and analysis can be found in the Q2 Market Tracker, and the Q3 data will be updated shortly.