Connect with us

Entertainment

Chinese box office becomes giant puzzle for Hollywood

Published

on

 


(Bloomberg) – When Godzilla vs. Kong opened with weekend sales of nearly $ 70 million in China in March, it looked like the market would be a bright spot for Hollywood studios: Most theaters were open, while American moviegoers still stayed at home because of the coronavirus.

But 2021 is turning into a bummer for film companies in China, which overtook the United States last year to become the world’s largest film market. US films landed around 15% of the box office, on par with sales affected by the pandemic in 2020 and far less than the 32% they claimed in 2019, according to data compiled by Bloomberg from the Chinese ticket service. Maoyan Entertainment.

Rather than becoming a lifeline for Hollywood, China is turning into another puzzle, made worse by local politics, the pandemic, and the country’s complicated relations with US President Xi Jinping’s efforts to focus on Chinese nationalism and cracking down on anything perceived as too Western or immoral will complicate things for American studios, perhaps for years to come.

This will make it increasingly difficult for Hollywood blockbusters to find interest in China and if they manage to achieve the same box office popularity they have had in the past, said Stephen Saltzman, a lawyer with a number of client films in China.

Seventeen American films have been released in China this year, up from 30 last year and 52 in 2019, according to data from Maoyan. Some of the top-grossing US releases of the year, including Walt Disney Co.s Black Widow and Warner Bros.’s Space Jam, have yet to receive premiere dates. It’s a big loss. In 2019, China generated $ 629 million in revenue for Disneys Avengers: Endgame.

China’s potential for American films still looked strong at the end of May, when Comcast Corp.’s Universal Pictures released the Fast & Furious F9 episode for what would ultimately be $ 204 million local transport.

Then China imposed one of its unofficial blackouts for Hollywood films. These times, usually during the summer months or around the holidays, are meant to give local studios a boost. This year’s blackout was particularly significant, coming with the centenary of the founding of the Chinese Communist Party, celebrated in July.

With the virus coming back in August, the Chinese government entity that oversees the industry has closed theaters in high-risk markets and reduced capacity in others. This has hurt both American films and local language releases, according to James Li, co-founder of Beijing-based consulting firm Fanink Research.

National pride

Xi’s campaign of nationalism and China’s own version of the culture of cancellation posed more challenges for American filmmakers. In late August, officials also cracked down on Chinese celebrities who appeared insufficiently sympathetic to the party’s values. Actress Zhao Wei has been deleted from the internet and social media.

Disneys Shang-Chi and the Legend of the Ten Rings is the first Marvel superhero film to feature an Asian actor in the lead role. It is the highest grossing film in U.S. theaters since the pandemic, with sales of $ 198 million.

The image attracted unwanted attention locally because in the original comics the protagonist’s father was Fu Manchu, a character seen as perpetuating racist stereotypes. The Disneys Marvel division has changed the names of its films and studio president Kevin Feige has given interviews to Chinese media in an attempt to highlight it. However, there is no release date.

Another problem for Disney could be lurking with the upcoming Marvel Eternals film, directed by Chinese filmmaker Chloe Zhao, which won the Oscar for Best Director in February for Nomadland. Shes has commented in the past critical of the country. Nomadland initially received a release date in April in China, but was ultimately not licensed in the country. Eternals, which premieres November 5 in the US, also doesn’t have an opening date there.

Not all dark

Still, there are prospects for American images in China. Two films are slated for October: Warner Bros. Dune and Metro-Goldwyn-Mayers, the new James Bond film No Time to Die, distributed internationally by Universal.

Dune may have received favorable treatment because it is a co-production with Legendary Entertainment, a branch of Chinese group Dalian Wanda, said Chris Fenton, writer and former film director. The Bond film, meanwhile, could be helped by its ties to Universal, whose parent company will broadcast the Beijing Winter Olympics in February, he said.

The coming months will decide whether American filmmakers can reclaim their lost market share, but they face competition from major local titles. The Battle of Changjin Lake, a Korean War epic, is set to be one of the biggest movies of the year.

While next year may bring better results for American films in China, the country will continue to present challenges for American studios, according to Stanley Rosen, professor of political science at the University of Southern California.

They don’t need Hollywood as much as they used to, Rosen said. Given the China-US relationship now, they can afford to play hard to get and keep Hollywood thinking about what they need to do to mend the relationship.

2021 Bloomberg LP

Sources

1/ https://Google.com/

2/ http://www.bnnbloomberg.ca/china-s-box-office-becomes-a-giant-headache-for-hollywood-1.1660072

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]