Market Insights Advertising & Media Media Cinema

Box Office - China

China

In China, revenue in the Box Office market market is projected to reach €8.70bn in 2024.
This revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 10.51%, leading to a projected market volume of €14.34bn by 2029.
Furthermore, in the Box Office market market of China, the number of viewers is anticipated to amount to 200.7m users by 2029.
User penetration in China will be 12.5% in 2024 and is expected to rise to 14.1% by 2029.
The average revenue per viewer in China is projected to be €48.70.
In a global context, the majority of revenue is expected to be generated the United States, with a forecasted figure of €9,402.00m in 2024.
China's box office continues to rebound, driven by a resurgence in local film production and shifting audience preferences towards diverse cinematic experiences.

Key regions: South Korea, United Kingdom, Germany, United States, Europe

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Analyst Opinion

The Box Office market in China has experienced significant growth in recent years, making it one of the largest and most lucrative markets in the world.

Customer preferences: Chinese audiences have shown a strong preference for both domestic and international films, with a particular interest in big-budget blockbusters and high-quality productions. Chinese moviegoers are increasingly looking for immersive and visually stunning experiences, which has led to a rise in the demand for films with advanced special effects and cutting-edge technology. Additionally, there is a growing interest in diverse genres, including action, comedy, romance, and fantasy, catering to the varied tastes of the Chinese audience.

Trends in the market: One of the key trends in the Chinese Box Office market is the increasing popularity of domestic films. Chinese filmmakers have been producing a wide range of high-quality movies that resonate with local audiences, resulting in strong box office performances. This trend can be attributed to several factors, including the rise of Chinese film studios, the government's support for the domestic film industry, and the growing recognition of Chinese talent both within and outside the country. Another notable trend is the growing influence of the Chinese middle class on the Box Office market. As disposable incomes continue to rise, more people are able to afford movie tickets, leading to an increase in overall ticket sales. Additionally, the expansion of cinema chains and the improvement of theater infrastructure have made moviegoing a more accessible and enjoyable experience for Chinese consumers.

Local special circumstances: China has a unique regulatory environment for the film industry, with strict censorship rules and quotas on the number of foreign films that can be released in the country each year. This has created a highly competitive market for both domestic and international films, as filmmakers strive to secure a limited number of release slots. Furthermore, the Chinese government has implemented various policies to promote the development of the domestic film industry, such as providing financial incentives and supporting the construction of film studios.

Underlying macroeconomic factors: China's rapid economic growth and urbanization have played a significant role in the expansion of the Box Office market. As more people move to cities and their incomes increase, they have more disposable income to spend on entertainment, including movie tickets. Additionally, the rise of online ticketing platforms and the increasing popularity of e-commerce have made it easier for Chinese consumers to purchase tickets and access the latest movie releases. In conclusion, the Box Office market in China is experiencing robust growth due to customer preferences for high-quality films, the popularity of domestic productions, the influence of the middle class, unique regulatory circumstances, and underlying macroeconomic factors. As the market continues to evolve, it presents both opportunities and challenges for both domestic and international filmmakers looking to tap into the lucrative Chinese market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Cinema market, which comprises revenues from box office, advertsing and concessions. The market includes both consumer and advertising spending. All monetary figures refer to consumer spending on tickets and concessions. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.