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Report warns of steep drop in Chinese film market growth

China’s total box office may have hit another record high in 2019, but a struggling exhibition sector and plummeting growth in lower-tier cities will likely sow seeds of trouble in 2020 for the world’s second-largest film market, Chinese firm Tencent Entertainment said in a year-end white paper. China’s theatrical market has grown an impressive 60-fold in the past twenty years, but since 2015, growth rates have seen a “cliff-like decline,” the report notes. Last year’s box office was essentially propped up by just four films that accounted for around a quarter of…

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Subcontinental multiplex operators’ luxury gamble may not pay off

Even as OTT platforms wage a war on traditional media consumption, multiplexes have largely remained unaffected, according to reports. In the September quarter of FY 2020, two of India’s top multiplexes, PVR Cinemas and INOX Leisure, reported footfalls of 2.93 crore and 1.90 crore, respectively — a 40% year-on-year growth in footfalls — according to a report by Emkay Research. To leverage the growing footfalls, multiplexes are adding luxury and premium offerings to garner additional revenue. Ajay Shah, partner, EY, says while the regular screen formats bring in volumes for these…

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China Box Office: Hollywood revenue growth plateaus

Revenue from U.S. studio movies slips 2.7 percent as local laws and homegrown hits cool a once-blazing business. Hollywood box office growth in China officially flatlined in 2019 — and there is little reason to believe that conditions in the world’s No. 2 theatrical territory will improve anytime soon, analysts caution. Total ticket sales at Chinese cinemas climbed to $9.2 billion (RMB 64.3 billion) in 2019, up 5.4 percent from 2018. That’s a far cry from the galloping double-digit growth that characterized most of the past decade, but it’s still…

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