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Mainland Movie Market Sees Sharp Decline in Box Office

Well-known Chinese news site Sina recently reported that the Mainland movie market is suffering a dramatic free-fall. According to the latest statistics, the total box office from April to September saw a ten percent decline year-over-year. The Chinese Mainland commercial movie market has been on a path of rapid growth for many years. It has been one of the fastest growing industries in China. The year-over-year growth rate in 2015 was 50 percent. Many experts expressed the belief earlier that China will beat the United Sates to become the largest movie market in the world and will reach a US$10 billion domestic box office level in 2016. However, the movie industry is now seeing a negative growth rate at the point of only three weeks from the end of the year end. Analysts suggested that the primary reasons for the decline are the significant reduction in discounted tickets, as well as the government’s crack-down on cinemas that forge box office statistics.

Source: Sina, December 14, 2016