China's Movie, Tv Businesses Soar
Underscoring the massive growth of the film and television businesses in China, the Motion Picture Assn. and the China Film Distributors and Exhibitors Assn. released a study on Monday indicating that those businesses generated $15.5 billion in revenue, supporting some 900,000 jobs in 2011. Of 74 feature film co-productions, 70 percent represented partnerships between Chinese and Hong Kong producers. Co-productions between China and Hollywood represented only 10 percent. Of particular importance to U.S. studios was the conclusion that sales of movie tickets in Chin a climbed 31 percent from 2011 to 2012 to $2.74 billion and were up nearly 500 percent from 2006. During the same period, U.S. ticket sales have remained virtually stagnant.