How China Is Remaking the Global Film Industry
February 4, 2017
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“China’s ascent is the economic story of the 21st century, and the entertainment industry is no exception. An average of 22 new screens were unveiled in China in 2015 — each day. That year, the Chinese box office surged by almost 50% over 2014, and Hollywood is counting on an expanding Chinese middle class to make up for vanishing audiences at home. Over the next couple of years, the Chinese box office may well surpass that of North America as the world’s biggest.
Money is also flowing the other way. Looking to offload cash abroad as the yuan has devalued, Chinese companies have snapped up Hollywood studios, theaters and production companies.”
Languages do matter!