Next Week China to Overtake US as World’s Largest Cinema Market
November 14, 2016 | IHS MarkitEstimated reading time: 2 minutes
According to screen growth patterns for 2016, the number of Chinese cinema screens will overtake the number in the US on 16 November 2016. For the first time, the US will not be the world’s largest cinema market in terms of screen base.
At the end of September 2016, China had 39,194 cinema screens, compared to an estimated 40,475 in the US.
“The rate that China has been building cinema screens is very high,” said David Hancock, director of film and cinema analysis at IHS Technology. “In the first nine months of this year, China added just over 7,500 new cinema screens, continuing a trend seen over the past few years. China has been building cinema screens at a rate of over 10 a day for the past five years, rising to 27 a day this year.”
In 2003, China opened the market to overseas exhibition groups and laid the foundations for growing its cinema sector, although growth has come in mainly from domestic investment. The same year, Chinese box office revenue was $121 million (about the same size as Austria’s box office revenue). In 2015, Chinese box office revenue topped $7 billion -- growth of over 5,700 percent. “This is an interesting story all the more remarkable for the rapidity of China’s ascent to the top spot in the market,” Hancock said.
China’s box office revenue to top US by 2019
Single-digit box office revenue growth in China during 2016 pushed back forecasts for when box office sales in China will overtake the US. However, China will overtake the USA in box office revenue terms in 2019, according to IHS Technology forecasts.
About the data
The screen data for US and China at end 2015 are from the official sources from each country. The third quarter data is taken from the IHS Technology digital screen database, built up over 10 years and including all global digital screens. The projection to the end of 2016 is a linear projection using the growth so far this year as a base.
About IHS Markit
IHS Markit is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/10/2024 | Marcy LaRont, PCB007 MagazineSpring is a renewal each year as dormant flora bloom, and baby ducklings and geese are ever present in local bodies of water. Even though it is beginning to get hot, I love this time of year in Arizona, with the sun waking me around 5 a.m. It fills me with an energy that I often lose in the dark winter months. Wherever you find yourself in the world, I hope you are enjoying Spring and that you are filled with energy and enthusiasm for all the great work part of our daily lives in this industry.
Samsung Acquires Sonio; Strengthens Position in Cutting-Edge Medical Devices
05/10/2024 | SamsungSamsung Medison, a global medical equipment company and an affiliate of Samsung Electronics, today announced it has signed an agreement to acquire 100% of the shares of Sonio SAS, a fetal ultrasound AI software company.
Schweizer Receives Future Prize from Ewald Marquardt Private Foundation for p² Pack Embedding Technology
05/10/2024 | Schweizer Electronic AGAs the number of electric vehicles increases, so do the demands on electrical power management in vehicles. To make power generation and engine operation more efficient, Schweizer Electronic AG's p² Pack technology offers a long-term and sustainable solution to better convert and even recover the energy generated.
MKS’ Atotech to Participate in ECTC
05/10/2024 | MKS’ AtotechAt this year’s 74th IEEE Electronic Components and Technology Conference (ECTC), MKS’ Atotech will present and demonstrate its latest product and service innovations.
TTM Technologies Appoints Wajid Ali to Board of Directors
05/10/2024 | TTM Technologies, Inc.TTM Technologies, Inc. announced that Mr Wajid Ali has been appointed by the unanimous vote of the remaining Directors to serve as a new Class I director on the Board, effective immediately.