Despite odds, China takings up RM4.1 billion
BEIJING: China’s box office is running US$ 1 billion ( RM4.1 billion) ahead of last year despite an uneven summer period.
According to data from local consultancy and researcher Ent Group, Chinese cinemagoers spent US$ 6.79 billion (including ticketing fees) in the first eight months of 2018. The figure compares with a like-forlike US$ 5.79 billion in the same period of 2017.
The continuation of doubledigit growth in 2018 puts the year-long stall, between July 2016 and June 2017, further in the past. That is good news for Chinese cinema operators who continue to add capacity. Ent Group data shows 57,300 screens in operation at the end of August, a six per cent increase on the end-2017 figure of 53,900.
The summer period saw an eight per cent gain on last year with July and August together worth US$ 2.03 billion, compared with US$ 1.87 billion in 2017. ( Measuring summer as June to August, the data shows a similarly modest five per cent gain.)
This is the first time that two Chinese films (Operation Red Sea and Detective Chinatown 2) have exceeded US$500 million in the same year.
The summer season was characterised by a succession of hits and an equally important number of flops. Dying to Survive with a US$ 453 million gross, Hello Mr Billionaire, with US$ 367 million and The Island on US$ 188 million were among the season’s successes. The outright failures included Asura and Europe Raiders, while neither Detective Dee: Four Heavenly Kings not Hidden Man lived up to their billings. Throwback kung fu film, Oolong Courtyard also crumpled quickly.
The summer “blackout period,” the four-to- six week corridor in which Hollywood films are not allowed to open, was far less marked than normal. But getting a mid- summer release did not translate always into success. Mamma Mia! Here We Go Again, released on Aug 3, and Hotel Transylvania 3, on Aug 17, performed weakly.
Greater riches went to those films that mixed Chinese and US content or investment. The Meg, structured as a co-production released on Aug 10 and is a hit with US$ 152 million to date. Legendary Entertainment’s Skyscraper, which is largely set in Hong Kong, but counted as an import, opened on July 20 and earned US$ 98 million. Alibababacked Mission: Impossible – Fallout rounded off the summer with a smashing US$ 77 million opening weekend.
The year to date figures also show Chinese films are increasingly measuring up to those from Hollywood. This is the first time that two Chinese films ( Operation Red Sea and Detective Chinatown 2) have exceeded US$ 500 million in the same year. Those two are also the ninth and tenth bestperforming films worldwide so far this year.