China’s box office revenue to top world in 2017

Beijing, June 12 (IANS) China’s box office revenue is anticipated to surpass the US in 2017 and claim the title of the world’s largest, said a report by international accounting firm PwC on Sunday.

The report by PricewaterCoopers (PwC) forecasts that China’s box office revenue will hit $10.3 billion in 2017, while the US is expected to ring up $10.14 billion, Xinhua news agency reported.

With a compounded average annual growth of 19.1 per cent, China’s box office takings are expected to hit $15.08 billion by 2020, the report said.

The report estimates a whopping $49.3 billion of box office earnings across the globe in 2020, with nearly a third of it to be generated in China.

Jiang Xiaoping, a PwC China partner, said the robust expansion of China’s film industry is driving the global development.

According to predictions, revenue from advertising in the Chinese film industry will exceed $161 million by 2020, and the average ticket price will climb to $6.04 from $5.44 currently.



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