China's Movie Market Shows Signs of Slowing Growth
Yicai Global
/SOURCE : Yicai
China's Movie Market Shows Signs of Slowing Growth

(CBN - Global) May 5 -- China's movie market is showing signs of slowing growth. During the three day Labour Day public holiday this month, box office sales grossed about CNY657 million (USD101 million), only CNY33 million more than the same period last year, according to data from China Box Office.

China's total movie ticket sales came to CNY17.6 billion (USD2.7 billion) in the first four months of this year. Forecasted sales for the full year are CNY60 billion.

Box office takings over the three day Qingming public holiday in April came to CNY586 million, then entered a prolonged slump.

Domestic movies made a modest impression on the box office last month and only five of 33 new films had takings exceeding CNY100 million. Total box-office revenue for Chinese movies was CNY1.44 billion in April in sharp contrast to the high box office earnings of the first three months.

In contrast, The Jungle Book was a box office winner and is expected to become the third Disney movie to exceed CNY1 billion in China after the Avengers: Age of Ultron and Zootopia.

Seven foreign movies grossed box office takings of CNY1.66 billion in China in April, once again surpassing Chinese movies in the box office.

Several foreign sci-fi blockbusters such as Captain America 3, Self/less and Criminal are scheduled for release in May. This foreign film boom is set to impact the box office sales of China's domestic films.

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