World’s Most Populous Country China is Now Also Second-Largest Movie Market
Massive population numbers could perhaps come quite handy at times as the world's most poplous country, China, overtook Japan in 2012 to get ranked as the world's second-largest movie market, next to the United States.
According to the annual Theatrical Market Statistics report of the Motion Picture Association of America (MPAA) released on Thursday, the Chinese box office grew by 36 per cent to yield an equivalent $2.7 billion in ticket sales in 2012.
Japan's box office sales for 2012 only netted $2.4 billion. The U.K., meanwhile, sold $1.7 billion in tickets.
In February 2012, although it maintained its annual quota of 20 foreign films, China nonetheless opened its market to accommodate more American films as well as allowed other concessions such as IMAX or 3D, even 2D versions of films.
"China's building about 10 screens a day. There's a voracious appetite for product. Our films have done consistently well there," Chris Dodd, chairman and chief executive of the MPAA, said on a conference call with reporters.
Perhaps China will already get rid of making pirated DVDs.
Overall, global movie ticket sales jumped 6 per cent to $34.7 billion, spurred by a growing international box office revenue, the MPAA said.
International ticket sales registered a 6 per cent uptick from 2011 to $23.9 billion and up 32 per cent over five years ago, driven by growth in Russia, Brazil, and China.
Ticket revenue in Europe, the Middle East and Africa, however, dropped 1 per cent to $10.7 billion, brought by decreases in France, Italy and Spain.
U.S. and Canada box office receipts grew 6 per cent to $10.8 billion, with 1.36 billion tickets sold, which was 80 million more compared from a year ago.