China

Foreign Investors Are Eager To Open Theaters In China on November 19, 2012

China Daily has compiled an excellent look at the current state of investment in Chinese movie theaters. 

Key facts:

Foreign investors are allowed to open cinemas in China through joint ventures with local partners. Their stake cannot be more than 49 percent. 

South Korea's CJ CGV plans to open 100 multiplexes in China by the end of 2015.  

Cinema growth in China is staggering. By the end of 2011, the number of screens nationwide increased to 9,296 from 6,266 a year earlier, up 48.4 percent year-on-year. An average of 8.3 screens were added each day that year, according to the SARFT data.

BOX OFFICE: 'Rise of the Guardians' Posts Modest Debut on November 18, 2012

guardianchinese.jpgRise of the Guardians is off to a relatively slow start in China. Paramount estimates that the animated flick took in $3.4 million over the weekend. That puts Guardians on pace to end up closer to Wreck-It Ralph's $4.7 million opening-week debut than it does to Ice Age: Continental Drift's $20.7 million first week. 

BOX OFFICE: 'The Bourne Legacy' Slows Down on November 18, 2012

bournechinaposter.jpgUniversal estimates that The Bourne Legacy took in another $2.1 million in China over the weekend. The action flick boasts a 25-day total of $32.9 million. Legacy's international total is now $161.3 million. 

 

'Life of Pi' To Be Released In IMAX 3D on November 16, 2012

lifeofpichineseposter.jpg

Chinese movie-goers will be able to watch Life of Pi in stunning IMAX 3D when it opens on November 22. 

Life of Pi is winning rave reviews not only for its emotional punch but also its stunning visual effects. Time magazine called it "the next Avatar." Avatar director James Cameron heaped high praise on the film in The Sun saying, "You go on a journey that's eye popping, that's terrifying, that's exquisitely beautiful, so to me it doesn't get any better than that. You've got to go on the journey, you have to see it for yourself. The 3D is an integrated part of the art form and I feel like the technology we have created has contributed to a masterpiece." Cameron's company, Cameron Pace, provided the 3D technology used in the film. 

 

 

Paramount Eyes China For 'Transformers 4' on November 16, 2012

tf4poster.jpgAnother major blockbuster is looking to take advantage of the financial benefits that come with co-production status in China.

Vulture reports that Paramount is trying to film part of Transformers 4 in China. Production on the sequel is set to begin in Spring 2013, so Paramount has plenty of time to set up a Chinese shoot.


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